Scenario on USDJPY In this market, I'm going exactly according to plan. The market turned beautifully at the fibo level of 0.786 and continued according to the previous prediction according to the bearish scenario. This chart today is just about adjusting the level. Now I'm waiting for a return to the price level of something around 152. If the price rejects, there is a potential entry into the short.
Usdjpy4hrs
USDJPY ( INSIDE OLD DEMAND ZONE ) (4H)USDJPY
HELLO TRADERS
Tendency , the price inside two turning level at 154.786 & 153.625 .
TURNING LEVEL (1) : the price of this level at 154.786 , so if the price breaking this level reach a resistance level (1) .
TURNING LEVEL (2) : the price of this level at 153.625 , so if the price breaking this level reach a support level (1) .
RESISTANCE LEVEL (1) : this level around 157.687 , for reach this resistance level the price need breaking a turning level (1) .
RESISTANCE LEVEL (2) : around 159.893 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) .
SUPPORT LEVEL (1) : this level around 151.996 , for reach this support level the price need breaking a turning level (2) .
SUPPORT LEVEL (2) : support level at 150.180, for reach this level will be breaking by open 4h candle below support level (1) .
CORRECTIVE LEVEL : currently price 153.931 , have two scenario , first corrective 154.786 , before dropping to touch a 153.625 , then 151.996 , second corrective 153.625 to reach a 154.786, then breaking this level reach a resistance level (1).
TARGET LEVEL :
RESISTANCE LEVEL : 157.687 , 159.893 .
SUPPORT LEVEL : 151.996 , 150.180.
USDJPY ( TRADING BELOW CHANNEL ) ( 4H )USDJPY
HELLO TRADERS
TENDENCY : the price stabilizing below turning level , indicates is under bearish pressure .
TURNING LEVEL : the price around 159.099 , if the price trading below this level reach a support level , but if breaking this level reach a resistance level .
PRICE MOVEMENT : the price in previously it can be breakout a channel , currently price 158.410 , as long as the price stabilizing below this level reach a support level my goal 157.682
PRICE ACTION :
SHORTCONDITION : the price trading below turning level at 159.099 , as long as the price trade below this reach a support level at 157.682 , and stabilizing below this level reach a 156.571
SHORT CONDITION : if the price breaking turning level , price reach a resistance level at 159.849, the stable above this level reach a 160.807
TARGET LEVEL :
RESISTANCE LEVEL : 159.849 , 160.807 .
SUPPORT LEVEL :157.682 , 156.57 .
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USDJPY ( BREAKOUT ) ( 4H )USDJPY
HELLO TRADERS
after publish a CPI news the price dropping , breakout a channel
Tendency after the price breakout , indicates the price is under bearish pressure
TURNING LEVEL : there is a black line around 159.827 , indicates if the price trade below this level reach a support level , but if the breaking turning level reach a resistance level
RESISTANCE LEVEL: there is a green line around 160.834 , indicates selling have already increase this level , when you reach this level buyer have more supply for OANDA:USDJPY USDJPY
SUPPORT LEVEL : there is a red line around 157.940 , indicates buying have already increase this level , when you reach this level selling have more demand for OANDA:USDJPY
PRICE MOVEMNET : the price stabilizing below turning level around 159.827, in my opinion until the price trade below turning level ,indicates selling have more demand for OANDA:USDJPY , so reach a support level at 157.940 , then breaking this level reach a next target at 156.534, if the price breaking turning level , indicates buyer have more supply for OANDA:USDJPY , so if the price breaking turning level by open 4h candle reach a resistance level at 160.834 , then stabilizing this level reach 161.937
TARGET LEVEL :
RESISTANCE LEVEL : 160.834 , 161.937
SUPPORT LEVEL : 157.940 ,156.534
USDJPY Shorts from 142.500 down towards 140.000My bias for USDJPY is pro-trend, aiming for a bearish move within a nearby 10hr supply zone. Currently, I expect a bit more upside and a redistribution within my point of interest (POI). Upon confirmation of these factors and other confluences, I'm inclined to sell down towards the psychological level of 140.000.
I am also anticipating a bullish reaction from the 7hr demand, which has caused a break of structure (BOS) to the upside, I recognise the importance of waiting for price to reach a discounted or premium area due to its current equilibrium state. However, considering the recent BOS to the downside, I anticipate a retracement to a supply zone for a potential sell-off.
Confluences for USDJPY Sells are as follows:
- price has broken structure to the downside and has left clean 10hr supply zone.
- Price is currently in a retracement so we can expect a wyckoff distribution to play out.
- Lots of major trendiness still left below on the high time frame that needs to get swept.
- Price has been in a very bearish trend ever since it failed to take the all time highs.
- The dollar is also looking bearish so I can expect more downside for this pair too.
P.S. As this trade aligns with the prevailing trend, the selling proposition is currently highly favorable. While the Fibonacci range indicates that the 14hr supply is more likely, I foresee the possibility of the 10hr supply failing to react off the 14hr at a more premium level.
HAPPY NEW YEARS TO ALL OF YOU AND HOPE THIS YEAR BRING EVERYONE PROFITABILITY AND CONSISTENCY. LETS CATCH THESE PIPS!
USDJPY Looking BearishIf you anticipate a bearish trend in USDJPY and decide to sell, it's crucial to ensure that your decision is in line with your overall trading strategy. Evaluate the risk-reward ratios carefully and establish suitable stop-loss levels to mitigate potential losses.
When considering increasing your position size, exercise caution to effectively manage potential risks. Stay well-informed about market developments and be prepared to adapt your trading strategy as necessary in response to changing conditions. It's essential to remain vigilant and proactive in monitoring the market to make informed decisions and protect your investments.
USDJPY Longs from 145.000 up to 148.300This week, the current position of USDJPY appears favorable, positioned near two promising Points of Interest (POIs). We are inclined towards buying opportunities as the price has recently responded to a supply zone, and we anticipate a slowdown and accumulation.
Upon the completion of Wyckoff accumulation within our designated zone, we will seek buy positions for a short-term trade, aiming to reach the nearest significant supply. This counter-trend trade will serve as a retracement, acknowledging the temporary bearish trend.
Confluences for USDJPY Longs are as follows:
- To sustain its bearish trend, the price must respond to a demand level, prompting a retracement.
- The price is nearing a crucial demand level on the 13-hour chart that has broken the structure to the upside.
- There are remaining equal highs and imbalances above, which needs to get mitigated.
The Dollar Index (DXY) is poised for an upward retracement, aligning with this bias.
- The overall market trend on higher time frames, such as the monthly chart, remains generally bullish.
- Price has taken some significant liquidity like asian lows so price might be due for a correction.
P.S. Upon the price reaching our 4-hour supply zone, we will patiently await a form of redistribution to align ourselves with the bearish trend. Currently, our focus is on the anticipation of a slowdown and pullback, which we expect to occur in response to the 13-hour demand.
USDJPY (Continuation)The previous USDJPY thread became too long to remain practical hence, this new thread for the USDJPY.
Previous thread summary
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Calendar days: 96
Net profit: (USDJPY only) +1073 pips (including the currency hedge adjustments in support of Nikkei long positions - +1132% Net)
Max risk; 0.71% of capital;
Max draw-down: -0.43%
Number of trades: 52 (including hedge adjustments)
Average R/R: 1:10.25 (Exclusive of hedge adjustments)
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Here is the Daily;
Currently: FLAT -> Long Bias.
USDJPY - CURRENT SENTIMENT , FUNDAMENTAL BIAS#USDJPY
- As of the previous day, the market sentiment for USD was quite up SIDE. The main reason for this is that the JPY started to weaken slightly and the short-term positive sentiment to the dollar. That's because it came with the NFP REPORT. The dollar weakened slightly after the FOMC last time. But at present, the FED can increase the RATE HIKE or their CEILING RATE at any time. However, the FED stated in an earlier meeting that inflation data is still being monitored.
- At present, all markets including STOCKS and COMMODITIES are going down a bit due to market RISK OFF.
- Of course, the chances of USDJPY going up a bit more and moving to level 137.91 are very high. Anyway, before that, the level of 129.52 can be down to the USDJPY price. We are focused on market updates and market sentiment. Follow the given market structure
UJ made a retracement. I'm looking for Bullish movement!After Top- Down analysis i'm looking for UJ to move to the upside.
This is not trading advice or a signal!
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