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USDJPY trade ideas

FALLING TREND LINE Education Falling trend line: Rising trend line is the type of trend line which typically helps trader in identifying the exact bearish momentum (downward trend). The rising trend line or descending trend line, be connected from highest price traded within the time range, and connect to the lower prices of the asset or security. Traders may prepare for selling after retest of the falling trend line and stop above the trend line. It helps minimizing risk and maximizing rewards when used appropriately.
Education
by CELGIB_TRADING
RISING TREND - EXPLAINED Education Rising trend line: Rising trend line is the type of trend line which helps a trader to identify the bullish moment or bullish range (Upward Trend). The rising trend line or ascending trend line should be connected from the last lower of the asset value to the last highest value or price of an asset. The rising trend line should have multiple prices touched to be considered as valid, (at least 2 price point touches). Traders may anticipate trading pullback where confirmation come, they can use additional indicators to have clear understanding of right entry point and exit points.
Education
by CELGIB_TRADING
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 146.669 Next Zone area & horizontal swing Low support 1st Resistance 150.120 Zone area & horizontal swing high resistance
Short
by Skandhatrade
2
USDJPY bulls need to cross 147.70 to stay on the tableUSDJPY poked the year 1998 high on Thursday while piercing a weekly resistance line, staying near the immediate resistance line of late. That said, the RSI is overbought as the pair struggles with the 24-year high near 147.70, which in turn suggests hardships for the further upside move. If the quote crosses the 147.70 hurdle, its run-up towards an upward-sloping trend line from late April, near 149.00, and the 150.00 psychological magnet will become imminent. It’s worth noting, however, that the buyer’s dominance past 150.00 won’t hesitate to challenge the late 1990 peak surrounding 151.65. Meanwhile, sellers could take entries if the USDJPY pair breaks a 2.5-month-old support line, currently around 144.60. Following that, a south-run to late September low near 140.35 and then to the 140.00 round figure can’t be ruled out. However, July’s top near 139.40 could challenge the sellers afterward, failing to do so can draw a gradual south-run towards August month’s bottom close to 130.40. Overall, USDJPY is near the key resistances as the overbought RSI suggests that the bulls are running out of steam. Hence, a pullback is well-expected but the change of trend is off the table unless the quote breaks 144.60.
by MTradingGlobal
The BoJ could intervene again at ANYTIMELast Thursday was an incredibly volatile trading session for the USD/JPY . This volatility was largely caused by the Bank of Japan's (BoJ) intervention in the currency markets to defend its depreciating currency, the Japanese Yen. Last week’s move was the first time since 1998 that the BoJ had intervened. There are some parallels between 1998’s intervention and 2022’s. For one, the price level in 1998 was cracking 146.00 when the BoJ stepped in. Before last week’s intervention, the pair was trying to sustain a break above the 145.00 key resistance, almost reaching the 146.00 price level. Where the most recent intervention might diverge is the sustainability of the pair’s downside potential. While last week’s intervention did cause a huge fall in the USD/JPY from 145.90 to 140.35 in one session, it has since found its way back to ~144.00 over the ensuing days. This is because the BoJ’s temporary currency intervention is no match for its unwavering commitment to ultra-low interest rates. Bear in mind that the BoJ may jump back into the currency market at any time to help the yen, and as we have seen, 145.00 is a critical level for the BoJ. Currently, the price for the USDJPY is back on track towards the upside. However, the price is currently contenting with 145.00, a monthly key psychological resistance and an RSI in the 60s. On the other hand, the daily timeframe has a minor candle closure above the 144.50 daily resistance. This closure might indicate a possible continuation of the upside. The current daily candle, however, should have a strong bullish candle close to support this idea. The current candle closing below 144.50 might indicate a consolidation between 144.50 and 142.00 and needs to make an empathic break before we see price make a sustained move in either direction.
by BlackBull_Markets
USDJPY bulls are bracing for 147.00USDJPY has been navigating inside the 300-pip trading range at a 24-year high in the last three weeks. Despite the yen pair’s latest inaction, the lower low on prices joins the lower bottom on the RSI (14), which in turn joins firmer MACD to keep the buyers hopeful. However, a clear upside break of 144.75, comprising the 78.6% Fibonacci Expansion (FE) of the pair’s late March to early August moves, becomes necessary to poke a five-month-old ascending trend line resistance near 147.00. During the rise, the latest swing top around 146.00 could probe the buyers while a successful rise beyond the 147.00 hurdle might flash the 150.00 threshold on the chart. Alternatively, the 21-DMA support around 142.60 may act as an immediate halt during the USDJPY pair’s pullback before highlighting the stated range’s bottom, including the 61.8% FE level near 141.60. In a case where the pair drops below 141.60, the 140.00 round figure and July’s high near 139.40 could lure the bears. It should be noted that the sustained downtrend past 139.40 could drag prices towards the 100-DMA support of 135.70. Overall, USDJPY remains on the buyer’s radar but needs a trigger to activate the next leg to the north.
by MTradingGlobal
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 135.314 Next Zone area & horizontal swing Low support 1st Resistance 146.835 Zone area & horizontal swing high resistance
Short
by Skandhatrade
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 135.314 Next Zone area & horizontal swing Low support 1st Resistance 146.835 Zone area & horizontal swing high resistance
Short
by Skandhatrade
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 135.314 Next Zone area & horizontal swing Low support 1st Resistance 146.835 Zone area & horizontal swing high resistance
Short
by Skandhatrade
USDJPY buy to sell ideaafter a strong bullish runup, in higher timeframe market is now currently ranging , in 4h timeframe market form double top liquidity and selloff which is more likely to be taken out so overall I am more bullish. the trading idea takes place in 1h timeframe, there was a large imbalance untested supply was there which is more likely to be tested. in current scenario market broke all its structure and there is resistance above so if market came to my defined demand then with confirmation i will go for long to that imbalance supply . as above it there was liquidity which needed to be taken out so i am not quite sure about the short idea
Long
by Rohit_Fx