Trading the USDCHF on August 6, 2013 24 ITM

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Trading the USD/CHF on August 6, 2020: 2/4 ITM

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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.

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