USDJPY has turned bearish since it broke below a 4-month rising trendline.
The price has fallen for extensively for close to another 2 weeks before it begins its retracement since last week.
The price has retraced significantly and completed 3 equal waves, a sort of ABCD pattern with the extension of EF.
There is a good reason to believe that the price may start...
A Bearish Flag forms on 4-hourly chart, trade engaged as on the 1-hourly chart(right) it was a bearish gartley that has reached the 1st target level.
Compare with his counterpart, CADJPY, this is a better pair to short as there's a previous support level. on the higher timeframe
USD/JPY broke resistance level
Since last Friday, USD/JPY moved down by around 40pips before moving back up by around 75pips.
USD/JPY is trending downwards.
This morning, USD/JPY broke the resistance level of 109.900.
Current Price: 110.226
Next Resistance: 111.700
Next Support: 109.900
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 20th, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the 4 hour time frame, we can see price action had a nice move to the down side and is now on a decent relief rally but it seems very corrective. We will be looking for price action to continue...
The US dollar is trading back above the 110.00 level against the Japanese yen currency following a renewed bid tone surrounding the greenback. If USDJPY bulls can continue to hold price above the 110.00 level we may see another technical attempt towards the resistance 110.60 level. The 109.66 support level now becomes the key weekly pivot point for the USDJPY...
-DAILY HAMMER CLOSURE TO CLOSE THE WEEK
-REJECTION OF A LONG TERM PINK WEEKLY TRENDLINE
-8H MOVING AVERAGE CROSSOVER WITH PRICE SITTING ABOVE EMA
-8H MORNING STAR FORMATION
-PRICE CLOSING BACK ABOVE WEEKLY SUPPORT
-COULD PRICE BE LOOKING TO RETEST DAILY TRENDLINE
>>waiting for a setup to go long on this pair around the blue box.
>>Looking for a candlestick pattern before buying into this pair
>>1d timeframe shows an ascending triangle forming
>>4hr timeframe also shows the same.
Now it looks like the pair is going to retrace around 0.5 to 0.618 fib point until it decide to
form it's new trend.
USDJPY is testing our first resistance at 110.043 (61.8% Fibonacci extension,23.6% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop to its support at 109.047(horizontal swing low support, 100% Fibonacci extension).
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Losses can exceed the initial investment so please ensure you...