as my prediction USDJPY gonna short in value because i found a strong downtrend there, and bearish engulfing occurs in the lower timeframe....
if it helps you don't forget to hit me up guys!!!! thank you!!!
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (103.590).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDJPY is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic...
USDJPY is still in the long-term downtrend channel.
As the US Dollar Index weakens, non-US currencies will continue to appreciate, and the Japanese Yen is no exception.
On the picture, the H4 of USDJPY is in a long-term downward channel. Even if the Bank of Japan continues to block the rise, it can hardly stop the weakness of the US dollar. The yen will continue...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (103.7). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
OANDA:USDJPY
Fellow traders, at the moment this idea is written USD/JPY is trading at the 103.867 level.
We've seen a channel downtrend since June 10th, and a downward movement between starting from january 12th, making a correction in the upward.
As of right now price could reach 103.097 since it is expected that the US dollar may be weaker in 2021 against...
USD/JPY started to fall from the 20th February of 2020. Right now, it's trying to reach 102.540 . It has to cross 103.300 - 102.900 to hit 102.540 .
After crossing the 102.540, The trend will march to touch 101.200 . But if it starts to rise by breaking the resistance, then it will hit 104.740 - 105.300 .
There is an opportunity of shorting usdjpy as you can see if the market breaks the horizontal line near the text(Entry Trigger) then i would short.
Please do your own analysis before taking any trades
