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Usdjpy4hr

USDJPY → Bull Trend Over! Short to 145.000? Short Answer, Yes!USDJPY completed its third leg up in this bull trend then failed to break the Resistance Zone on a second attempt, creating a double top reversal pattern. It followed by breaking the Bull Trend Support line. Should we short? How do we trade this? 🤔 We have three legs up, failed to break the Resistance Zone on the third leg, then a second attempt, followed by a strong close below the Bull Trend Support line, which is right on the 4HR 30EMA. This is an ideal time to short. Entering a 1:2 Risk/Reward trade with a 1:1 Take Profit target for half of my position. Once the first take profit is hit, the stop loss moves up to the entry price to lock in profits. The second half will be held to the second take profit of 145.515 or if there is a major reversal signal that is clear. This analysis works directly off my last one, reference here: 💡 Trade Idea 💡 Short Entry: 147.207 🟥 Stop Loss: 148.055 ✅ Take Profit #1: 146.355 ✅ Take Profit #2: 145.515 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Double Top Reversal after the third leg up in a bull channel 2. Near a Resistance Zone 3. Broke the Bull Trend Line 4. Gap to 4HR 200EMA and Support Zone 5. RSI at 38.00 and Below the Moving Average Supports a slight pullback and then fall. 💰 Trading Tip 💰 The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
Short
by TraderEngineering
1
UDS/JPY Falling to 146.000!? Double Top Reversal Signal CompleteUDS/JPY has a double top reversal signal on the Daily candles and a triple top on the 4HR candles with a massive gap to fill. This reversal signal happened at a key level, 152.00 which is the previous high from October 2022. As shown in my previous prediction, a short position is reasonable at this level. The double/triple top is the confirmation of that short, which increases the probability of profit significantly. If there was a time to short in this bull channel, it would be now . Key Points 1. Double Top Reversal Signal on the Daily Chart 2. Triple Top Reversal Signal on the 4HR Chart 3. Gap to bottom of the channel at 146.000 4. The lowest target price is the Previous Channel High of 145.000 5. RSI at 52.00, Plenty of room to fall and supports #1-4 You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
Short
by TraderEngineering
USDJPY BEARISH SETUP 4HR/DAILYUSDJPY has been in a monthly bullish uptrend since the first week of 2021 creating HH's & HL's while bouncing off my symmetrical trendlines perfectly. It wasnt until the first week of July 2021 where we see on the 4hr that price was 1. 'OVERBOUGHT' indicating time to sell soon in addition to 2. 'NFP' (every first friday of the month) making the market just plummet 200 pips which also 3. BROKE my weekly bullish SUPPORT trendline' 3 strong confluences that price is preparing to REVERSE Seeing that price is now creating LH's & LL's on the daily timeframe SELLS are ideal to trade, so to enter this trade I expect price to either 1. 'RETRACE' from the '78.6%' area of my daily fibs at around 110.250 or 2. 'RETRACE' off my 'RESISTANCE ZONE' around 110.500 and 3. 'BREAK OF SUPPORT' line on 1hr would confirm SELL. 200pips down to 108.500 is my goal for month of august #ThePipPimp
Short
by Juju103
1
USD/JPY - Ascending Triangle after Channel UpOn the 4h chart, we can see that it was following my Channel Up pattern quite nicely. Updating now on my previous successful analysis, it started to build an Ascending Triangle which indicates another bull run, especially now with the US-news we might get some more information on soon. I suggest going long. But as always check for price action first and proper risk management. We might have to watch out on the Final GDP tomorrow to get a clearer view. I'm most likely going long on this one! We might see a nice trade. Wish you all my luck traders! -------------------------------- Thank you for inspecting my idea I'm happy to receive any kind of feedback Also feel free to contact me I'm trying to build up a nice network for trading! Whatsapp: +41 79 943 63 48 Telegram: @sb_sandro
by Sandro_S
1
USD/JPY Near Term Set up for LongFX:USDJPY Long Entry 1: 109.0, Stop Loss 1: 108.75, Target 1: 114.4, Risk to Reward Ratio: 1:19.4 Entry 2: 108.3, Stop Loss 2: 108.00, Target 2: 114.4, Risk to Reward Ratio: 1:28.33 Trade cautiously and await for confirmation of entry signals Consider the horizontal channel which repeats itself over a 1- 1.5 Month Period Support levels at 109 & 108.35 Resistance level at 114.4 Awaiting moving average cross over 4 hour RSI Index overbought Bottom of Bollinger Bands - awaiting reversal Good Luck!
Long
by kct-perspective
USDJPY Bearish Projection 2/5After mixed data surrounding NFP, I expect that USD could be momentarily bullish at market open this week. However, from a technical perspective we can see that USDJPY has formed two potential bearish triangles, one on the Daily and another on the 4hr last week. Fundamentally, a rate hike is now off the table for at least a month's time and despite positive NFP numbers, wage increases listed Friday fell under expectations and unemployment is up for the first time in months, although it's only .1 percent and the number is still a healthy figure. Lastly, China and Russia just signed a trade deal to move away from usage of the dollar in their bilateral trade. This will lower demand for the dollar by roughly $100 billion annually. Thus, over the next couple of weeks I expect the USD to take a hit. In these uncertain times, JPY is a very reliable reserve currency, with a potential rate hike on the table for Japan this year as well and an economy that is healthy and a political climate much more stable than that in the West. Thus, my prediction for most of the month of February is a bearish USDJPY. Key levels will be 112, 111.200, 110.750, and 110.
Short
by haylettc
2
USDJPY short Last week bulls tried to make a recovery and pull price up from support and past the next support but failed. Bears were able to hold the 38.2 retracement as well as well as bringing price back down into major support area (101). as price continued into this area we can see it touch the demand zone and make another reversal up but bears once again were able to hold price in support while at the same time holding the 23.6 retracement also noting that the bears held the price from making a new high. From here we get our 3rd touch into the demand zone with an even weaker bounce. If bulls fail to break the last high from the #2 touch on the demand zone then we can see price falling from here to 95.00 area.
Short
by SmilieYen