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Trading the USD/CHF on August 6, 2020: 2/4 ITM
Follow USDJPY Following USDJPY Unfollow USDJPY
USDJPY Forex Chart
Ideas
Okay so looking at this pair on a weekly chart we can clearly see 3 wave corrective structure and I wouldn’t be surprised if we get an upside break in the next few weeks. The fundamentals also support this scenario based on the crisis that’s going on around the world at the moment. This coronavirus has created uncertainty around the world and in times of.
From the daily perspective, the price reaches the resistance and finished it retracement, expect the next impulse on the next week From the COT perspective, hedge fund is quite bullish on USD and bearish on JPY, expect a price will push to the downside till the daily support and bullish after that. Since hedge funds always buy low and sell high. In the 4h.
A resistance level and a falling channel on a smaller time frame. Wait for the break to buy. Please leave a like and share your thoughts! Good Luck and Stay Healthy!
Here we can see a nice trend exactly as seen before, will be waiting for entry after markets open and will look for confirmation before entering, could see a nice drop though.
First breakdown analysis Video on USDJPY. Enjoy
ELLIOT AND PRICE ACTION ANALYSIS
Waiting for the next impulse leg down
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A bearish crab formed within the sideways bounce(red rectangle), if a break and close below the box could have an indication of a potential bearish flag pattern. Trade has already engaged and shared with my community on Friday, let’s see how this trade turns out.
USDJPY sell opportunity on the zone
Daily chart looks to head south next week. Fundamentals and think tank setups also affected by decision to SHORT. Will update my trade results when I have it.
In previous week, there is a reversal on the downtrend which complete the Elliot Wave for uptrend, however it might be a recovery wave in this current trend, which has to be retrace from the uptrend, in order to check for the downtrend, fib. retracement used to determine the direction and it is more possible to see a downtrend till 107.2, before it tends to look.
USDJPY has been showing some impressive moves recently. At the moment, it appears that price has broken through a key support level and is retesting it proving a good opportunity for reload sellers to push price lower. USDJPY failed to create a higher high and we saw a JPY gain alot of strength. However, we always need to be skeptical – we will be waiting for.
We are now in global shortage of $. Everyone needs $, which is increasing the demand of $. So always be long on $ with other currencies in this stage of deflation.
USD/JPY: Monthly timeframe: (Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves) Since kicking off 2020, USD/JPY has been busy carving out a descending triangle pattern between 118.66/104.62. The month of March concluded by way of a long-legged doji candlestick pattern, ranging between 111.71/101.18.
OOh boi . i’m Excited about this trade right here , caught this one at the top of a corrective flag . All the indicators are showing power to the downside , Good luck all !
USDJPY is heading towards our supply zone, am anticipating a sell down if price fails to break that zone.
Market Commentary: First have an look for the positional trend i shared here previous. if you are a follower of me. and sometimes i will share the counter trend trade also in 15 mins and 1hr. but that is risky ones. so if the trend is bearish or bullish, if i am expecting the correction. book the profit there and wait the correction to end and.
Technicals
Profile
USD JPY (US Dollar / Japanese Yen)
Also known as trading the “gopher” the USDJPY pair is one of the most traded pairs in the world. The value of these currencies when compared to each other is affected by the interest rate differential between the Federal Reserve and the Bank of Japan.
Monthly Average Rates
View twenty years of exchange rate data for over 55 currencies.
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- Decimal places:
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Date (GMT) | Rate** |
Average | 0.760217 |
31 Jan 1990 | 0.781105 |
28 Feb 1990 | 0.759321 |
31 Mar 1990 | 0.755618 |
30 Apr 1990 | 0.763662 |
31 May 1990 | 0.761055 |
30 Jun 1990 | 0.779029 |
31 Jul 1990 | 0.790762 |
31 Aug 1990 | 0.808713 |
30 Sep 1990 | 0.825116 |
31 Oct 1990 | 0.800595 |
30 Nov 1990 | 0.7729 |
31 Dec 1990 | 0.77019 |
31 Jan 1991 | 0.779295 |
28 Feb 1991 | 0.783505 |
31 Mar 1991 | 0.771067 |
30 Apr 1991 | 0.779468 |
31 May 1991 | 0.774268 |
30 Jun 1991 | 0.759815 |
31 Jul 1991 | 0.771559 |
31 Aug 1991 | 0.782345 |
30 Sep 1991 | 0.79369 |
31 Oct 1991 | 0.792505 |
30 Nov 1991 | 0.786595 |
31 Dec 1991 | 0.771224 |
31 Jan 1992 | 0.747557 |
29 Feb 1992 | 0.751784 |
31 Mar 1992 | 0.758645 |
30 Apr 1992 | 0.762405 |
31 May 1992 | 0.75587 |
30 Jun 1992 | 0.755605 |
31 Jul 1992 | 0.745065 |
31 Aug 1992 | 0.724786 |
30 Sep 1992 | 0.722548 |
31 Oct 1992 | 0.71481 |
30 Nov 1992 | 0.689837 |
31 Dec 1992 | 0.689736 |
31 Jan 1993 | 0.672974 |
28 Feb 1993 | 0.682937 |
31 Mar 1993 | 0.707752 |
30 Apr 1993 | 0.711545 |
31 May 1993 | 0.698585 |
30 Jun 1993 | 0.674918 |
31 Jul 1993 | 0.677876 |
31 Aug 1993 | 0.677364 |
30 Sep 1993 | 0.651667 |
31 Oct 1993 | 0.661 |
30 Nov 1993 | 0.66465 |
31 Dec 1993 | 0.673635 |
31 Jan 1994 | 0.696075 |
28 Feb 1994 | 0.716105 |
31 Mar 1994 | 0.71087 |
30 Apr 1994 | 0.715648 |
31 May 1994 | 0.724333 |
30 Jun 1994 | 0.732909 |
31 Jul 1994 | 0.734085 |
31 Aug 1994 | 0.7401 |
30 Sep 1994 | 0.742 |
31 Oct 1994 | 0.737875 |
30 Nov 1994 | 0.75492 |
31 Dec 1994 | 0.773886 |
31 Jan 1995 | 0.76469 |
28 Feb 1995 | 0.744726 |
31 Mar 1995 | 0.734517 |
30 Apr 1995 | 0.73564 |
31 May 1995 | 0.727164 |
30 Jun 1995 | 0.719591 |
31 Jul 1995 | 0.72792 |
31 Aug 1995 | 0.741365 |
30 Sep 1995 | 0.75371 |
31 Oct 1995 | 0.75699 |
30 Nov 1995 | 0.745343 |
31 Dec 1995 | 0.740525 |
31 Jan 1996 | 0.74171 |
29 Feb 1996 | 0.75557 |
31 Mar 1996 | 0.771362 |
30 Apr 1996 | 0.785664 |
31 May 1996 | 0.796995 |
30 Jun 1996 | 0.791215 |
31 Jul 1996 | 0.789741 |
31 Aug 1996 | 0.783045 |
30 Sep 1996 | 0.79279 |
31 Oct 1996 | 0.791791 |
30 Nov 1996 | 0.796837 |
31 Dec 1996 | 0.79661 |
31 Jan 1997 | 0.777557 |
28 Feb 1997 | 0.767679 |
31 Mar 1997 | 0.787471 |
30 Apr 1997 | 0.778682 |
31 May 1997 | 0.7751 |
30 Jun 1997 | 0.754224 |
31 Jul 1997 | 0.741986 |
31 Aug 1997 | 0.740362 |
30 Sep 1997 | 0.723095 |
31 Oct 1997 | 0.719714 |
30 Nov 1997 | 0.695256 |
31 Dec 1997 | 0.661873 |
31 Jan 1998 | 0.656585 |
28 Feb 1998 | 0.674363 |
31 Mar 1998 | 0.669627 |
30 Apr 1998 | 0.652309 |
31 May 1998 | 0.631235 |
30 Jun 1998 | 0.604559 |
31 Jul 1998 | 0.618022 |
31 Aug 1998 | 0.588838 |
30 Sep 1998 | 0.588862 |
31 Oct 1998 | 0.617852 |
30 Nov 1998 | 0.634942 |
31 Dec 1998 | 0.618205 |
31 Jan 1999 | 0.632438 |
28 Feb 1999 | 0.640356 |
31 Mar 1999 | 0.630812 |
30 Apr 1999 | 0.643106 |
31 May 1999 | 0.662591 |
30 Jun 1999 | 0.656407 |
31 Jul 1999 | 0.656213 |
31 Aug 1999 | 0.644636 |
30 Sep 1999 | 0.649619 |
31 Oct 1999 | 0.651144 |
30 Nov 1999 | 0.638834 |
31 Dec 1999 | 0.640753 |
31 Jan 2000 | 0.656473 |
29 Feb 2000 | 0.627936 |
31 Mar 2000 | 0.608637 |
30 Apr 2000 | 0.595797 |
31 May 2000 | 0.578235 |
30 Jun 2000 | 0.593783 |
31 Jul 2000 | 0.588344 |
31 Aug 2000 | 0.580595 |
30 Sep 2000 | 0.553183 |
31 Oct 2000 | 0.528437 |
30 Nov 2000 | 0.522436 |
31 Dec 2000 | 0.547552 |
31 Jan 2001 | 0.555634 |
28 Feb 2001 | 0.53462 |
31 Mar 2001 | 0.504155 |
30 Apr 2001 | 0.501531 |
31 May 2001 | 0.520594 |
30 Jun 2001 | 0.518121 |
31 Jul 2001 | 0.510379 |
31 Aug 2001 | 0.524508 |
30 Sep 2001 | 0.506944 |
31 Oct 2001 | 0.504499 |
30 Nov 2001 | 0.517075 |
31 Dec 2001 | 0.51426 |
31 Jan 2002 | 0.517389 |
28 Feb 2002 | 0.51305 |
31 Mar 2002 | 0.524835 |
30 Apr 2002 | 0.535586 |
31 May 2002 | 0.54908 |
30 Jun 2002 | 0.568429 |
31 Jul 2002 | 0.554785 |
31 Aug 2002 | 0.541266 |
30 Sep 2002 | 0.547205 |
31 Oct 2002 | 0.549886 |
30 Nov 2002 | 0.561445 |
31 Dec 2002 | 0.562633 |
31 Jan 2003 | 0.582156 |
28 Feb 2003 | 0.594415 |
31 Mar 2003 | 0.602405 |
30 Apr 2003 | 0.60854 |
31 May 2003 | 0.645614 |
30 Jun 2003 | 0.66493 |
31 Jul 2003 | 0.662814 |
31 Aug 2003 | 0.651724 |
30 Sep 2003 | 0.660245 |
31 Oct 2003 | 0.692937 |
30 Nov 2003 | 0.71572 |
31 Dec 2003 | 0.736881 |
31 Jan 2004 | 0.767829 |
29 Feb 2004 | 0.776447 |
31 Mar 2004 | 0.749381 |
30 Apr 2004 | 0.74861 |
31 May 2004 | 0.706948 |
30 Jun 2004 | 0.694808 |
31 Jul 2004 | 0.714939 |
31 Aug 2004 | 0.710277 |
30 Sep 2004 | 0.703539 |
31 Oct 2004 | 0.732149 |
30 Nov 2004 | 0.770377 |
31 Dec 2004 | 0.766064 |
31 Jan 2005 | 0.765886 |
28 Feb 2005 | 0.780806 |
31 Mar 2005 | 0.785669 |
30 Apr 2005 | 0.773222 |
31 May 2005 | 0.766697 |
30 Jun 2005 | 0.766312 |
31 Jul 2005 | 0.753611 |
31 Aug 2005 | 0.76235 |
30 Sep 2005 | 0.764917 |
31 Oct 2005 | 0.754216 |
30 Nov 2005 | 0.7354 |
31 Dec 2005 | 0.74205 |
31 Jan 2006 | 0.748888 |
28 Feb 2006 | 0.741646 |
31 Mar 2006 | 0.728117 |
30 Apr 2006 | 0.735298 |
31 May 2006 | 0.764506 |
30 Jun 2006 | 0.740439 |
31 Jul 2006 | 0.751108 |
31 Aug 2006 | 0.762766 |
30 Sep 2006 | 0.756105 |
31 Oct 2006 | 0.753266 |
30 Nov 2006 | 0.771959 |
31 Dec 2006 | 0.785923 |
31 Jan 2007 | 0.782585 |
28 Feb 2007 | 0.782223 |
31 Mar 2007 | 0.792145 |
30 Apr 2007 | 0.826121 |
31 May 2007 | 0.824412 |
30 Jun 2007 | 0.841369 |
31 Jul 2007 | 0.8673 |
31 Aug 2007 | 0.830764 |
30 Sep 2007 | 0.844477 |
31 Oct 2007 | 0.897676 |
30 Nov 2007 | 0.89882 |
31 Dec 2007 | 0.872079 |
31 Jan 2008 | 0.881419 |
29 Feb 2008 | 0.908731 |
31 Mar 2008 | 0.924613 |
30 Apr 2008 | 0.930074 |
31 May 2008 | 0.947824 |
30 Jun 2008 | 0.950205 |
31 Jul 2008 | 0.962141 |
31 Aug 2008 | 0.886928 |
30 Sep 2008 | 0.820207 |
31 Oct 2008 | 0.698368 |
30 Nov 2008 | 0.657614 |
31 Dec 2008 | 0.671663 |
31 Jan 2009 | 0.67825 |
28 Feb 2009 | 0.649911 |
31 Mar 2009 | 0.665408 |
30 Apr 2009 | 0.714794 |
31 May 2009 | 0.761852 |
30 Jun 2009 | 0.8039 |
31 Jul 2009 | 0.801809 |
31 Aug 2009 | 0.835031 |
30 Sep 2009 | 0.860661 |
31 Oct 2009 | 0.904449 |
30 Nov 2009 | 0.918268 |
31 Dec 2009 | 0.901461 |
31 Jan 2020 | 0.910971 |
28 Feb 2020 | 0.885171 |
31 Mar 2020 | 0.910915 |
30 Apr 2020 | 0.925888 |
31 May 2020 | 0.874617 |
30 Jun 2020 | 0.853896 |
31 Jul 2020 | 0.874687 |
31 Aug 2020 | 0.900667 |
30 Sep 2020 | 0.934946 |
31 Oct 2020 | 0.980949 |
30 Nov 2020 | 0.988948 |
31 Dec 2020 | 0.992106 |
31 Jan 2020 | 0.997458 |
28 Feb 2020 | 1.00857 |
31 Mar 2020 | 1.010227 |
30 Apr 2020 | 1.057694 |
31 May 2020 | 1.069041 |
30 Jun 2020 | 1.0605 |
31 Jul 2020 | 1.077977 |
31 Aug 2020 | 1.049288 |
30 Sep 2020 | 1.028416 |
31 Oct 2020 | 1.013382 |
30 Nov 2020 | 1.013919 |
31 Dec 2020 | 1.014037 |
31 Jan 2020 | 1.038605 |
29 Feb 2020 | 1.072094 |
31 Mar 2020 | 1.055216 |
30 Apr 2020 | 1.035825 |
31 May 2020 | 0.999002 |
30 Jun 2020 | 0.996554 |
31 Jul 2020 | 1.029849 |
31 Aug 2020 | 1.048147 |
30 Sep 2020 | 1.040441 |
31 Oct 2020 | 1.029096 |
30 Nov 2020 | 1.039525 |
31 Dec 2020 | 1.045817 |
31 Jan 2020 | 1.049211 |
28 Feb 2020 | 1.032333 |
31 Mar 2020 | 1.033905 |
30 Apr 2020 | 1.037919 |
31 May 2020 | 0.993495 |
30 Jun 2020 | 0.944223 |
31 Jul 2020 | 0.915825 |
31 Aug 2020 | 0.904539 |
30 Sep 2020 | 0.925886 |
31 Oct 2020 | 0.951809 |
30 Nov 2020 | 0.932589 |
31 Dec 2020 | 0.898481 |
31 Jan 2020 | 0.885959 |
28 Feb 2020 | 0.895596 |
31 Mar 2020 | 0.907179 |
30 Apr 2020 | 0.931476 |
31 May 2020 | 0.935072 |
30 Jun 2020 | 0.936401 |
31 Jul 2020 | 0.939235 |
31 Aug 2020 | 0.930935 |
30 Sep 2020 | 0.906378 |
31 Oct 2020 | 0.876443 |
30 Nov 2020 | 0.866082 |
31 Dec 2020 | 0.824382 |
31 Jan 2020 | 0.808002 |
28 Feb 2020 | 0.779628 |
31 Mar 2020 | 0.773236 |
30 Apr 2020 | 0.772879 |
31 May 2020 | 0.788624 |
30 Jun 2020 | 0.770904 |
31 Jul 2020 | 0.742075 |
31 Aug 2020 | 0.730924 |
30 Sep 2020 | 0.706281 |
31 Oct 2020 | 0.720566 |
30 Nov 2020 | 0.714379 |
31 Dec 2020 | 0.724635 |
31 Jan 2020 | 0.703091 |
29 Feb 2020 | 0.712552 |
31 Mar 2020 | 0.749411 |
30 Apr 2020 | 0.766435 |
31 May 2020 | 0.732371 |
30 Jun 2020 | 0.739273 |
31 Jul 2020 | 0.752822 |
31 Aug 2020 | 0.762738 |
30 Sep 2020 | 0.757159 |
31 Oct 2020 | 0.761607 |
30 Nov 2020 | 0.752025 |
31 Dec 2020 | 0.733774 |
31 Jan 2020 | 0.745303 |
28 Feb 2020 | 0.766843 |
31 Mar 2020 | 0.762076 |
30 Apr 2020 | 0.753423 |
31 May 2020 | 0.743242 |
30 Jun 2020 | 0.755527 |
31 Jul 2020 | 0.780004 |
31 Aug 2020 | 0.791564 |
30 Sep 2020 | 0.797674 |
31 Oct 2020 | 0.778581 |
30 Nov 2020 | 0.762175 |
31 Dec 2020 | 0.765781 |
31 Jan 2020 | 0.7954 |
28 Feb 2020 | 0.786972 |
31 Mar 2020 | 0.775811 |
30 Apr 2020 | 0.768174 |
31 May 2020 | 0.75304 |
30 Jun 2020 | 0.749633 |
31 Jul 2020 | 0.740481 |
31 Aug 2020 | 0.732792 |
30 Sep 2020 | 0.720047 |
31 Oct 2020 | 0.710399 |
30 Nov 2020 | 0.724688 |
31 Dec 2020 | 0.716011 |
31 Jan 2020 | 0.715311 |
28 Feb 2020 | 0.714243 |
31 Mar 2020 | 0.707874 |
30 Apr 2020 | 0.711352 |
31 May 2020 | 0.694645 |
30 Jun 2020 | 0.694795 |
31 Jul 2020 | 0.698253 |
31 Aug 2020 | 0.67743 |
30 Sep 2020 | 0.680854 |
31 Oct 2020 | 0.680027 |
30 Nov 2020 | 0.68277 |
31 Dec 2020 | 0.688739 |
31 Jan 2020 | 0.686675 |
29 Feb 2020 | 0.666451 |
31 Mar 2020 | 0.62205 |
04 Apr 2020 | 0.604384 |
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