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U.S. Dollar / Japanese Yen

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USDJPY trade ideas

#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 stays on the way to 150.00Despite the latest pullback from a 24-year high, the USDJPY remains inside a five-month-old megaphone formation suggesting a further widening of the uptrend. Even so, the overbought RSI (14) suggests a pullback of the yen pair, which in turn highlights a two-month-old horizontal support area surrounding 134.00-134.40. Following that, the 50-DMA and 100-DMA could test the pair sellers around 136.80 and 134.00 respectively. It’s worth noting that the stated megaphone’s lower line, near 132.40, appears the last defense for the pair buyers. Meanwhile, recovery moves may initially aim for the 78.6% Fibonacci Expansion (FE) of the pair’s late March to early August moves, near 144.75, before challenging the megaphone’s top, close to 145.75. In a case where USDJPY bulls keep reins, the tops marked during the June and August months of 1998, close to 146.80 and 147.70 in that order, could probe the upside momentum towards the 150.00 psychological magnet. Overall, a shift in the market sentiment isn’t a trend change and hence the bulls can keep control.
Long
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 142.090 Zone area & horizontal swing high resistance
Short
by Skandhatrade