Today, when i saw the pair, just 15 minutes before the market closing time, i am able to observe that the market is compelling pair to move up even though most analysts expected a down trend in extension until 105. The daily bar seems to be forcing the pair up, while the weekly bar seems like the pair is going down for certain, since a tight resistance is in place at 110.6 price range... Let`s see how the bar will form 1 week later...
USD/JPY
After a few days of falling prices, it seems that the pair has reached its bearish peak at 107.61. As all oscillators on the 4 hour chart are pointing up, a bullish correction might be impending. Going long with tight stops could be a good strategy.
UJ has closed higher after reaching 105.xx levels. It is very likely to continue it`s descent technically as the weekly candles have been falling though the trend has seen a mixed outlook in the daily charts with an emerging trend reversal candle seen in the friday`s chart. Next week might see huge falls...
The pair has seen a very unsteady market with choppy days over the week, operating in a very tight range and a slow and steady downtrend. Today`s candle ended bullish at 107.87. For the past 2 months, the pair has seen a lot of sideways trading. If this month ends bearish, then we can confirm that the pair might test the recent low of 95.74, that occurred a few months ago. Besides, the monthly RSI seems to be turning down.
Hello,
Could you see that triangle on UJ, H1 chart? or this is only my mistake?
potential move about 300 pips (if the triangle will break out!), I think, down side...
Similary situation on eurjpy...
OMG, breakout downside, after that-->big move upside...
I won't trade UJ!
Look now on UJ!
I WILL trade it!
So nice triangle! Breakout should be strong,
I hope...
It is nice breakout now!
For me it is clear situation-short position with stop-loss on 97.15.
USD/JPN IS IN DECEND TREND .
i think USD/JPy will fall,it will reach 0.9500