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Usdjpylong

USDJPY | Perspective for the new week | follow-up detailsAt 64.9, the Michigan consumer sentiment index for February hits its highest level in eight months as falling energy prices eased fears about inflation. This is a positive signal as it is a widely-known gauge of personal consumer confidence in the US economic activity. From a technical standpoint, the significant breakout of the supply zone at the 131.000 area last week was an emphatic bullish signal buttressing the idea that sellers might have lost the momentum; but following the retest of structure, price action was caught within a consolidation phase above the key level (131.000) to emphasize the level of indecision in this market. In this video, we looked at the possibilities and trading options we have from the current market structure as we look out for breakouts either way in the coming week for trading opportunities. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
2
USDJPY H4: Bullish outlook seen, further upside above 132.80On the H4 time frame, prices are showing bullish order flow with higher lows and higher highs formed and a throwback to the support zone at 132.80, in line with the 23.6% Fibonacci retracement and 61.8% Fibonacci extension levels could present an opportunity to play the bounce, with 137.80 as the resistance target. Failure to hold above the support zone at 132.80 could see prices push lower to the next support area at 130.50. Prices are also holding above the 20 MA supporting the bullish bias.
Long
by T3-Consultancy
1
USD/JPY LONGUSD/JPY has been moving in tandem with the DXY. USD/JPY is especially sensitive when the DXY goes long. The area highlighted in ORANGE is PROFIT POTENTIAL based on the MONTHLY chart. The areas highlighted in RED are SUPPLY ZONES based on the WEEKLY chart. I take profits just before supply and manage my trades when price is in supply. I am entering USD/JPY long TODAY although it is currently in a WEEKLY supply zone. The reason being price has just reacted to MONTHLY DEMAND. On the DAILY time frame price has given confirmation of the start of the long with a BLUE-RED-BLUE Color Change to the upside.
Long
by CrescendoFX
USDJPY: A RALLY EXPECTED.Hello traders, Dexter here with a quick update on USDJPY. This update is on the daily chart and if you are into forex trading then it is going to be helpful for you. After 84 days of bleeding reds, the USDJPY is showing some signs of recovery. A straight -16% drop has formed a falling wedge pattern and the current price action is indicating a rally around the corner. Currently, USDJPY has broken above the symmetrical pattern as well which looks good and if the market goes under the favor of bulls then we can expect the USDJPY to reach ¥138 in the coming days. The invalidation point for USDJPY will be ¥131.2 support level. Key points: * ¥131.2 support level. * ¥138 expected target. I hope this update was helpful to you. Trade safely.
Long
by Dexter_The_Trader
5
USDJPY DAILY UPDATE SLIGHTLY BULLISHhi all The USDJPY failed to break through support at 130.342 and rally higher, testing the previous high at 130.908. So I'm interested to see if the USD CPI can overcome the resistance level. If the resistance level is broken, I intend to remain long and target the next resistance level at 134.510. If USDJPY fails to break through previous resistance, it may fall back to new support at 130.342. My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities. Like and subscribe and happy trading to all
Long
by mytw0cents
USDJPY - Daily Trade Idea - 13-Feb-23USDJPY (LONG)- If all the support holds in place. If we see the Support broken out then we could see the shift in the trend. I marked the TP 1 (20 pips), TP 2 (50 pips) , TP 3 (100 pips) and EXIT (SL - 60 pips) on the chart. (THIS IDEAS VALID NEXT 24 HOURS) Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry. - Rejection Candle Formation - Green Candle after the Red Candle. - Stochastic - Oversold Area - Timing of entry Prior / during UK / US Market Session.
Long
by onelinkFX
2