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USD/JPY Discussion

Quoting KeenPips
USDJPY price action on the daily time frame is in a rising wedge (magenta) but presently sideways as it tackles the 135.310/137.360 multi-year horizontal resistance zone (purple) seen on the monthly time frame. As price action is losing bullish impetus, we may see a bearish pullback before a northward continuation. I may be wrong. Trade safe and prosper. KP {image}
You know how i like your analysis. My idea is to trade the yen long but it's possible we don't see new highs yet.
Yes, one idea is to wait for price action to retest a value area in confluence with a significant support/demand area, and look for a cue/setup for a buy trade.

Trade safe, prosper.

KP

Quoting jag1969
{quote} You know how i like your analysis. My idea is to trade the yen long but it's possible we don't see new highs yet.
Do your homework, follow the footprints of smart money
Should be easy to buy and make money this week. USD is bullish.
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don't believe in mumbo jumbo from gurus & charlatans
I'm short at 135.80 from yesterday. I've decided to keep open the position. I know that the pair must cross the 135.57 but considering that tomorrow it's NFP day, I'll wait that number. My tp at 135.00. This week i thought usdjpy should be more bullish but it looks some lazy to do it.
If Head & Shoulders pattern is to come true, TP is at 132.
https://www.forexfactory.com/news/11...ocks-the-world

Strange day for Japan.
in usdjpy we are in over bought that we have a good chance for pull back to last price level break.or alternative scenario continue to level 2
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Although USDJPY price action on the daily time frame is technically bullish, it is presently sideways as it tackles the 135.310/137.360 multi-year horizontal resistance zone (purple). This may result in a bearish correction before further bullish drive.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
#USDJPY / H4
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Quoting ForexGoose
Should be easy to buy and make money this week. USD is bullish. {image} {image}
reached and exceeded 137.2

there is more upside to go into the 140s
don't believe in mumbo jumbo from gurus & charlatans
Quoting ForexGoose
{quote} reached and exceeded 137.2 there is more upside to go into the 140s
140 would be my next bullish target
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don't believe in mumbo jumbo from gurus & charlatans
Today's trades.
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Money Maker
Acnestis Return This Month: -11.3%
SL At Price 135.425
TP At Price 138.275
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Waiting for another long opportunity.
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Money Maker
Acnestis Return This Month: -11.3%
Once more into the Fray.. 139 area target. All time 23% area. Bears waking up in the next 14 days IMO. Get your USD trades ready folks. The dollar has become an easier trade now that Bitcoin is being traded. So far the week's moves can be seen in the bitcoin weekend trade. Even if you aren't an Ellioteur or master Price Actionist. Look at the bitcoin chart before the week's open.
When you feel like you HAVE to trade is when you least should!
Quoting mtako
if attacks my mid range special again >129.75, I get back in long with this beauty soon. 12H pullback. buy stop 129.8
Quoting mtako
In high quality 12H based trend/momentum/ripe volatility at last(that could blow up in my face!), am attacking the significant highs of the 15th&16th of June = Buy Stop 135.60. 3rd time the charm? Wish me luck ! Cheers ! {image}
Adding another long time ! 15min volatility growth in high&tight momentum breaking the bear candle setup! Buy stop 137.70

Cheers all !!
If I don't mention SL and TP = longer-term setup possibly in the works!
USD/JPY just hit 138 for the first time since 1998.

The pair has already pulled back marginally from this key level, but with another hotter-than-expected US CPI print, can we see a breakout towards 140 on speculation of increased Fed hawkishness?

All trading carries risk, but it will definitely be worth watching how this develops over the rest of the day.
Quoting ForexGoose
{quote} 140 would be my next bullish target {image}
140 and then 143.4 are my targets
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don't believe in mumbo jumbo from gurus & charlatans
H & S pattern seems to be near exhaustion on Daily TF.
USDJPY price action on the daily time frame is tackling the multi-year 136.920/139.270 horizontal resistance zone (purple) seen on the weekly time frame. Although the technical structure is bullish, bears are resisting the bullish drive and, last week Friday, a relatively small bearish candlestick was printed in the zone. This portends the possibility of a bearish correction or a sideway of price action.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
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