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USD/JPY LMAX

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USDJPY_LMAX trade ideas

USDJPYHello Traders Welcome back to another profit day If you like my idea please give me a like and comment, That's will be a great appreciation to do more predictions Here is the full analysis for this pair, Let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. USDJPY with order flow concept Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts. The information given is not a Financial Advice. Please support this idea with a like, if you find it useful have a good profit day guys
Short
by Bexi03
USD/JPY Trade Setup1. Trade pullback ? >>> let price get back to POI for entry with sl above POI (offers good R:R) >>> follow the lower high lower lows pattern >>> exit on price switching to higher low 2. Conservative Trade ? >>> wait for the price to get a DISCOUNTED ZONE (fib 0.5 from recent swing low to high) >>> long on swing making higher low and higher high (avoid entering direct on 0.5 without confluence) (previous trade got out with small SL, then we saw a parabolic upside this is why sl is important)
by Jimmy_Rebello
USDJPY pares weekly gains with eyes on sub-140.00 zoneUSDJPY extended a pullback from a five-week-old horizontal resistance by slipping beneath monthly horizontal support and 200-SMA, despite the latest rebound, as markets sensed the Bank of Japan’s (BoJ) exit from the loose monetary policy and unimpressive US employment report. Also keeping the Yen sellers hopeful are the bearish MACD signals and downward-sloping RSI (14) line. With this, the bears are all set to challenge the 141.00 round figure comprising the 50% Fibonacci retracement of the June-July downturn. Following that, the 38.2% Fibonacci retracement level of 140.30 and the 140.00 psychological magnet may test the downside move. It’s worth observing that a three-week-old rising support line, close to 139.55 at the latest, acts as the last defense of the buyers. On the flip side, the aforementioned support-turned-resistance zone and the 200-SMA, around 141.85-142.00, challenge the USDJPY buyers before directing them to the five-week-old horizontal hurdle surrounding 144.00. In a case where the Yen pair rises past 144.00, the yearly peak marked in June around 145.10, will be in the spotlight. It should be noted that the quote’s strength past 145.10 could direct bulls toward the 150.00 round figure ahead of highlighting the next year’s top of around 152.00. Overall, the talks of a looming BoJ rate hike or an alteration into the Yield Curve Control (YCC) policy exert downside pressure on the USDJPY pair but the US inflation is on the cards and can help the pair register another positive week. Hence, it's advisable to be cautious while trading the Yen pair.
by MTradingGlobal
USDJPY breaks immediate support despite BoJ inactionUSDJPY appears well-set to reverse the previous weekly gains as it reverses from a three-week-old descending resistance line surrounding 141.00. Also adding strength to the downside bias could be the pair’s break of a fortnight-old support line’s break, as well as bearish MACD signals. However, the below 50.0 levels of the RSI challenges the Yen pair as US Dollar bulls flex muscles ahead of the Fed’s favorite inflation clue, namely the Core PCE Price Index. It’s worth noting, however, that the quote’s recovery remains elusive below 141.00 while the 200-SMA and multiple technical levels marked since June 19 and a 61.8% Fibonacci retracement of the June-July downside together constitute the 142.00-10 area as a tough nut to crack for the bulls. On the contrary, USDJPY sellers need validation from the 23.6% Fibonacci retracement near 139.00 to rule further. Should the Yen pair remains bearish past 139.00, tops marked in March and May around 137.70 and the monthly low near 137.25 will act as the final defenses of the major currency pair. If at all the quote drops beneath 137.25, May’s bottom of near 133.50 and the 130.00 threshold will lure the sellers. Overall, USDJPY is likely to add to the weekly gains but US data appears crucial to watch for clear directions.
by MTradingGlobal
USDJPY rebound appears overdueUSDJPY dropped in the last two consecutive weeks but ended Friday on a positive note as it bounced off a convergence of the 100-DMA and the 200-DMA. Adding strength to the hopes of recovery is the oversold RSI and the pair’s closing beyond a seven-month-old horizontal support zone, around 137.90-138.20. That said, the 140.00 round figure appears immediate hurdle to cross for the Yen pair buyers to retake control, a break of which needs validation from the 61.8% Fibonacci retracement level of October 2022 to January 2023 downside, near 142.50, to confirm a bullish trend. In that case, the previous monthly high of 145.00 and 78.6% Fibonacci retracement level of near 146.70 hold the key for the run-up targeting the 150.00 psychological magnet and then toward the last yearly high of near 152.00. Meanwhile, the aforementioned DMA convergence, surrounding 137.00, appears a tough nut to crack for the USDJPY bears. Following that, an ascending support line stretched from mid-January 2023, near 135.30, will act as the last defense of the Yen pair buyers. Should the risk-barometer pair remains bearish past 135.30, the 23.6% Fibonacci retracement and March’s low, respectively near 133.00 and 129.65, will be in the spotlight. Overall, USDJPY bears seem running out of steam but the road toward the north appears long and bumpy.
by MTradingGlobal