USDJPY set up ideas and trades

[Glastonburyk]

Definitely looking like we'll have a brief pullback, but I do think the overall trend is very bullish at the moment.

It’s not ready to turn yet no

 

[momo3HC]

The situation here now is definitely mixed but may be worth a small sell try even now.

 

[pezz55]

USDJPY Long set up

Right people this is what I am looking at going in to NFP tomorrow.

With the DXY showing a bit of weakness we could see this pair setting up for a sell off but before we do I feel we could beak down below the low to in trap sellers to the market and then look to retrace back up to discount and above an old high before we see real driving selling force for the long move.

So with that in mind I am looking to find a key entry and short term intraday set up to catch the moves.

Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.

 

[sebking1986]

Appears to have reacted off a weekly gap in price. NFP hasn't been too punchy thus far so be interesting to see if over the next week we see that high cleared again or a HTF LL form to signal the start of the downturn.

 

[JimmyRozza]

The RSI on the monthly and weekly is looking very overbought. I'm going to be waiting for the next short opportunity I think.

 

[TareqS]

The daily chart shows that the price after making a long bullish move had a bearish correction followed by another bullish move. The price made a breakout at the last swing high as well. Thus, it looks good for the bull in the daily chart.

 

[Glastonburyk]

The daily chart shows that the price after making a long bullish move had a bearish correction followed by another bullish move. The price made a breakout at the last swing high as well. Thus, it looks good for the bull in the daily chart.

I agree but it’s still quit slow for the time being

 

[TareqS]

The price may make some bearish correction. Today's candle may come out as a bearish candle in the daily chart. As long as the level of 125.060 holds the price as a level of support, the Bull may make its move towards the North.

 

[ForexTus]

Just massively bullish atm with USD being so strong and JPY being so weak its creating a perfect storm for price to push and break these levels not seen in years

 

[TareqS]

The pair has been very bullish in the daily chart. It seems to have a rejection. It may consolidate for a while. A bullish reversal candle followed by a breakout at the higher high may attract the buyers again to push the price towards the North further with good momentum.