USD/JPY Discussion

I’m looking to align any intraday entries with the higher timeframe (H4/D1) trend for higher probability setups. If the H1 pulls back to support in the context of a bullish H4 and daily, I’ll look for a long opportunity. If all timeframes show bearish confirmation, I’ll wait for H1 pullbacks to resistance to consider short setups. If the market remains range-bound on the higher timeframes, I’ll stick to range trading at the edges on the H1.
Entry Strategy:

1. Buy Entries (Preferred):
   1. Look for a new H1 or H4 bullish candle after a retest of 144.00–144.15.
   2. Best confirmation is if price bounces again near the previous signal area or the lower band.
   3. Stop loss: just below 143.90 or the recent swing low.
   4. Take profit: initial at 145.20–145.23 (resistance). Partial profits or trail above if bullish momentum continues.

2. Avoid New Shorts Unless:
   1. Price closes below 143.70 on H1/H4 and retests as resistance.
   2. Otherwise, momentum and indicator support favor buy-the-dip setups.

Summary:
The overall bias for USD/JPY is bullish, with fresh confirmation from both the PipFinite indicator (H4) and the scanner. I’m favoring long entries on dips above 144.00 with confirmation, targeting 145.20+. Will stay patient for a strong retest or reversal candle at support for sniper entries.

I also favor long entries. The chart seems to have finished correcting itself.

Analysis: On the H4 timeframe, the dashboard indicates a mixed but generally BUY bias from individual indicators. While the Moving Averages (MA) show a Neutral stance and ADX suggests No Trend, MACD, Stochastic, RSI, and CCI are all signaling BUY. This suggests underlying bullish momentum despite the lack of a clear trend from trend-following indicators.

The "Overall" analysis, incorporating M5, M30, and H1 timeframes, presents a SELL (27%) signal. This contrasts with the H4 individual indicator readings, implying that shorter timeframes might be experiencing downward pressure or a retracement, pulling the overall sentiment to a bearish lean.

The current market condition is identified as Ranging, with Medium Volatility. This confirms the H4 ADX reading of "No Trend" and suggests that the price is consolidating within a defined range rather than exhibiting a strong directional move. Given the ranging market and medium volatility, the price is likely to oscillate between the identified support and resistance zones. The nearest Resistance zone is identified between 148.0280 - 147.5070 (292 pips), while the nearest Support zone is 142.7020 - 142.3810 (168 pips). The market is currently searching for an SR Alert, indicating it's within these boundaries. The probable directional bias is neutral to slightly bullish on the H4, but with a short-term bearish pull from lower timeframes, suggesting a range-bound strategy is appropriate.

Disclaimer: This analysis is based solely on data from the provided dashboard and is intended for educational purposes only. Trading involves risk, and by following this analysis or its signals, you may incur financial losses. Please exercise caution and make your own informed trading decisions.

The USDJPY price action on the daily time frame is sideways at the 144.320 horizontal support. Recent technical prints support southward market engineering.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

what tmf is this??

I don't understand your question. What does tmf mean?

what time frame is that??

I draw at W1 timeframe

looks like its forming a heads and shoulders pattern?

Hello everyone! The USDJPY price reached the resistance level of 146.15 during its bullish movement. In case of a rebound from this level downwards, the support level of 145.13 may serve as a target for sales. In case of an upward breakout of this level and consolidation of the price above it, the target for continuation of the bullish movement may be the resistance level of 147.60.