USD/JPY Discussion

The USDJPY pair has formed an ascending channel on the H4 timeframe, within which the price is moving. Recently, there was a rebound from the upper boundary of this channel to the support level of 158.14. If the price breaks below this level and consolidates below it, the next target for a continuation of the bearish move could be the support level of 157.27.

Target hit

I am also seeing it as contained in an ascending channel. Mine is drawn slightly differently, I mention this just to illustrate that channels and slopes are subjective and influenced by one's imagination

Earlier this week, I mentioned that I am expecting the downtrend to take the price down to around 157.1xx, where the channel lower line meets with support.
As it consolidated a lot above the channel middle line, before continuing the drop, it was clear today that this will not happen (without a major event).

Now, due to the market overreaction of POTUS comments, it bounced strongly from a higher support. If it will hold today and regain bullish momentum, next week we could see another rally, maybe up to 160. If it would resume downtrend and break support, I'll be waiting for it at the bottom of the channel.

Seb, Jeks
Well thought out posts Guys
Extremely well Done
Here is my view
Watching your projection come to fruition
ps
Sadly I did not trade it
for various personnel reasons

People here mostly have their own trading style and use a particular set of tools that helps them achieve their objectives. What works for someone could completly destroy someone else. You can check the posts and if you see something you find usefull you can adopt or ask more details.

If you are new to UJ but have experience with other forex pairs, you can start with what worked for you with these and it will be a good starting point. If you are completly new to trading, maybe there are better pairs to start with then UJ that are more kind with beginners

Good luck!

Update:

call me crazy if you want, but that's what math do to people, UJ started the month by pulling back to the 50% of price supported by 50% up-angle and 50% up-grid, then moved to the 50% of upper price cycle, that mean it moved a full price cycle, now it pulled back 50% to month high, supported by 50% down-grid and 50% up-grid(again), and we're at the 50% of this month in Time. I'm starting to hate Fibonacci and GANN for leaving us clueless about the "why" :/



in monthly dynamic direction/range/levels, all you need is identifying direction and find a reason to be with it, in UJ case, reasons to buy.



cheers,

10Y yields keep widening

The USDJPY price action on the H4 time frame is sideways at the 158.036 intra-day horizontal support. Nevertheless, wed may still have further southward price action to retest an intra-day area of value before further northward price action.

I may be wrong. Trade safe and prosper.

KP

show me the money

Here you go. I didn't think I was going to make anything today, with the holiday.

Potential usd/jpy bullish reversal confirmation.
We have swept liquidity/retraced to the .618 level.
The EMA 21 1h has been crossed with clear upward direction
the 4h rsi+ma cross has occured

My thoughts: The asian session agrees with this new shift in direction; however, they liquidated all dumb money before continuing in the direction. Price bottomed out to a lower pivot point that I graphed out. If this bullish direction is true, we should expect price to atleast reach previous swing high at 159.450

Forgot post here on time
Uploaded on YouTube a while ago

Another day, another 50 cents. I hope everyone is doing well!

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