Should price action for the USDJPY remain inside the 102.30 to 102.60 zone the following trade set-up is recommended: Timeframe: H4 Recommendation: Short Position Entry Level: Short Position @ 102.50 Take Profit Zone: 101.00 – 101.30 Stop Loss Level: 0.9220 Should price action for the USDJPY breakdown below 102.30 the following trade set-up is recommended: Timeframe: H4 Recommendation: Short Position Entry Level: Short Position @ Retracements in the trend; sell orders during rallies Take Profit Zone: 101.00 – 101.30...
Should price action for the USDJPY remain inside the 101.90 to 102.10 zone the following trade set-up is recommended: Timeframe: H1 Recommendation: Long Position Entry Level: Long Position @ 102.00 Take Profit Zone: 102.80 – 103.10 Stop Loss Level: 101.50 Should price action for the USDJPY breakout above 102.10 the following trade set-up is recommended: Timeframe: H1 Recommendation: Long Position Entry Level: Long Position @ Retracements in the trend; buy orders during dips Take Profit Zone: 102.80 – 103.10 Stop...
The USDJPY completed a major reversal trade on Thursday of last week. Today we witnessed a snap higher as visible in the H4 chart. Currently there are bullish as well as bearish forces acting on this currency pair which partially explains the increased volatility. This currency pair has formed a strong resistance zone above the 102 level which is also being enforced by its declining 50 DMA. The last two H4 candlesticks have formed a spinning top as well as a hammer formation at resistance which confirms overall bearishness....
The USDJPY has broken below the key 100 level as visible in this D1 chart. This currency pair has remained in a rectangular chart pattern and is currently trading at its horizontal support level which is enforced by its flat 50 DMA. We expect the USDJPY to stabilize near current levels and stage a rally which should take it back to its horizontal resistance level. MACD has stabilized, but just completed a bearish centerline crossover which could be reversed shortly as the histogram gaped away from its moving average which...
Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 102.50 Hedge Level: Stop Buy Order @ 104.00 (Take Profit Level @ 105.00) Take Profit Zone: 100.00 – 100.50 Stop Loss Level: 104.00 (We will not use a stop loss order and execute this trade as advised below) The USDJPY has rallied after it broke out from its previous horizontal resistance zone as visible in this daily chart (D1). This currency pair has now formed...
