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USD/JPY_SPT - USD/JPY

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USDJPY_SPT trade ideas

USDJPY bears appear tiring as the Fed week beginsUSDJPY marked the biggest weekly loss since early January despite trading within a one-week-long descending triangle. Apart from the bullish chart formation, sluggish MACD and nearly oversold RSI (14) also challenge the Yen pair sellers. That said, the stated triangle’s bottom line, around 131.40, acts as immediate support for the bears to watch before targeting the 78.6% Fibonacci retracement level of the February-March upside, near 130.15. In a case where the quote remains bearish past 130.15, and also breaks the 130.00 round figure, the odds of witnessing a slump towards the lows marked in February and January, respectively near 128.00 and 127.20, can’t be ruled out. Meanwhile, a sustained break of 132.60 offers a bullish chart confirmation, which in turn suggests a theoretical target of 136.50. However, the 200 and 100 SMAs, respectively around 133.80 and 135.30, could test the USDJPY buyers. Following that, the theoretical target of 136.50 and a previous support line from early February, near 137.70, could lure the pair buyers. Overall, USDJPY is likely bracing for recovery but the stated triangle’s resistance line, as well as the key SMAs could challenge the run-up.
by MTradingGlobal
USDJPY attracts bears but 200-SMA is the key supportUSDJPY marked a second consecutive weekly loss, as well as broke an ascending trend channel, as BoJ Governor Haruhiko Kuroda departs after the decade-long workmanship. The bearish break also gains attention as the quote slips beneath the 100-SMA for the first time in more than a month. However, the nearly oversold RSI and 200-SMA, around 133.30 at the latest, challenge the Yen pair’s further downside. Following that, the 50% Fibonacci retracement level of February-March advances, near 132.90, acts as the last defense of the buyers before directing sellers towards the 130.00 round figure, as well as the February 10 swing low surrounding 129.80. Meanwhile, USDJPY recovery remains elusive unless the quote remains below the 135.65-70 resistance confluence, including the 100-SMA and the aforementioned channel’s lower line. Should the Yen pair manage to remain firmer past 135.70, the 137.00 could test the bulls before highlighting the monthly high of 137.90, the stated channel’s top line, near 139.10, and the 140.00 psychological magnet. Overall, USDJPY is on the bear’s radar and is likely to decline further but the 200-SMA may test the further downside momentum.
by MTradingGlobal
USDJPY eases from key hurdle to the north ahead of BoJ, NFPUSDJPY marked the first weekly loss in three as the key Bank of Japan (BoJ) Monetary Policy Meeting and the US Nonfarm Payrolls (NFP) looms. The Yen pair’s latest retreat could be cited as a failure to cross the 200 and 100-DMA. Adding strength to the pullback move could be the overbought RSI (14). However, the bullish MACD signals and a three-day-old ascending support line, around 134.15 by the press time, challenge the quote’s immediate downside. Following that, the 78.6% Fibonacci retracement level of the pair’s May-October 2022 run-up, near 131.75, could lure the bears before directing them to the 130.00 psychological magnet and the last January’s low, close to 127.20. Meanwhile, the 100-DMA and the 200-DMA guard the USDJPY pair’s immediate recovery moves near 136.80 and 137.30 respectively. It’s worth noting that the risk-barometer pair’s successful run-up beyond 137.30 isn’t an open invitation to the bulls as the 50% and 38.2% Fibonacci retracement levels could challenge the further advances around 139.15 and 142.20 in that order. Overall, USDJPY bulls are running out of steam ahead of BoJ Governor Haruhiko Kuroda’s last monetary policy show, as well as the key US jobs report for February.
by MTradingGlobal
Short On USDJPY Sell Entry On USDJPY As A Trader I Completely Believe On Sentence " TRADING IS SO SIMPLE (If We Stay Consistent & Discipline With Our Strategy) BUT NOT EASY (If We Start Breaking Our Trading Strategy Rule.)" "Below All Conditions Are Meet To Take Sell Entry On USDJPY" (1) Entry Price - 1.33082 (2) Stop Loss - 133.712 (3) Take Profit - 131.255 TIMEFRAME - 1 HOUR Here I'm Going To Explain My Own Strategy Step By Step With The Help Of Word - "CEST - B" Where , "C" Stand For - CONDITION (1) RSI For Long Entry - I Want RSI(14) In Oversold Area(30Level). (2) RSI For Short Entry - I Want RSI(14) In Overbought Area(70Level). (3) Candlestick For Long Entry - Need Bullish Big Shadow candle When RSI Is In Oversold Area. (4) Candlestick For Short Entry - Need Bearish Big Shadow candle When RSI Is In Overbought Area. (5) We Need Regular Divergence If RSI Is Not In Overbought or Oversold Area When Big Shadow Candle stick Form. "E" Stand For - ENTRY (1) For Long - Opening Price Of Previous Candle Of Bullish Big Shadow. (2) For Short - Opening Price Of Previous Candle Of Bearish Big Shadow. "S" stand For - STOP LOSS (1) For Long - ATR(14) Of Bullish Big Shadow + Distance From Entry Price To Low Of Bullish Big Shadow + 2Pips Extra ( Spread). (2) For Short - ATR(14) Of Bearish Big Shadow + Distance From Entry Price To High Of Bearish Big Shadow + 2Pips Extra ( Spread). "T" Stand For - TAKE PROFIT Take Profit Will Be 2.9 Times Of Our Risk Which Means If Our Risk On Single Trade Is 3% Then Take Profit Will Be 8.7% . Risk - Reward Ratio - 1:3 "B" Stand For - BREAK-EVEN (1) For Long - If RSI(14) Reach To Overbought Area We Will Move Our Stop Loss To The Break-Even. (2)) For Short - If RSI(14) Reach To Oversold Area We Will Move Our Stop Loss To The Break-Even. NOTE - Consistency & Discipline Is A Key Element Of Success.
Short
by Roh_Gupta94
Short On USDJPY Sell Entry On USDJPY As A Trader I Completely Believe On Sentence " TRADING IS SO SIMPLE (If We Stay Consistent & Discipline With Our Strategy) BUT NOT EASY (If We Start Breaking Our Trading Strategy Rule.)" "Below All Conditions Are Meet To Take Short Entry On USDJPY" (1) Entry Price - 132.562 (2) Stop Loss - 133.082 (3) Take Profit - 131.054 TIMEFRAME - 1 HOUR Here I'm Going To Explain My Own Strategy Step By Step With The Help Of Word - "CEST - B" Where , "C" Stand For - CONDITION (1) RSI For Long Entry - I Want RSI(14) In Oversold Area(30Level). (2) RSI For Short Entry - I Want RSI(14) In Overbought Area(70Level). (3) Candlestick For Long Entry - Need Bullish Big Shadow candle When RSI Is In Oversold Area. (4) Candlestick For Short Entry - Need Bearish Big Shadow candle When RSI Is In Overbought Area. (5) We Need Regular Divergence If RSI Is Not In Overbought or Oversold Area When Big Shadow Candle stick Form. "E" Stand For - ENTRY (1) For Long - Opening Price Of Previous Candle Of Bullish Big Shadow. (2) For Short - Opening Price Of Previous Candle Of Bearish Big Shadow. "S" stand For - STOP LOSS (1) For Long - ATR(14) Of Bullish Big Shadow + Distance From Entry Price To Low Of Bullish Big Shadow + 2Pips Extra ( Spread). (2) For Short - ATR(14) Of Bearish Big Shadow + Distance From Entry Price To High Of Bearish Big Shadow + 2Pips Extra ( Spread). "T" Stand For - TAKE PROFIT Take Profit Will Be 2.9 Times Of Our Risk Which Means If Our Risk On Single Trade Is 3% Then Take Profit Will Be 8.7% . Risk - Reward Ratio - 1:3 "B" Stand For - BREAK-EVEN (1) For Long - If RSI(14) Reach To Overbought Area We Will Move Our Stop Loss To The Break-Even. (2)) For Short - If RSI(14) Reach To Oversold Area We Will Move Our Stop Loss To The Break-Even. NOTE - Consistency & Discipline Is A Key Element Of Success.
Short
by Roh_Gupta94