USDJPY set up ideas and trades

[Petezaa]

Looks like we are finally seeing some potential to the downside on the smaller time frame. Price created an impulsive move to the downside from the 129.40 area and came back to re-test it and continued down. I wouldn't be surprised to see from strength from JPY pairs next week.

 

[Glastonburyk]

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.

Agree mate, keeping a close eye

 

[TareqS]

The pair has been extremely bearish in the daily chart. Yesterday's daily candle came out as a bullish engulfing candle. Thus, the price has been very bullish today. We may see the pair remain bullish for some days at least.

 

[ForexTus]

The pair has been extremely bearish in the daily chart. Yesterday's daily candle came out as a bullish engulfing candle. Thus, the price has been very bullish today. We may see the pair remain bullish for some days at least.

USD is still so strong though. I would be staying out of this pair until DXY shares its hand

 

[sebking1986]

Should get a better idea with FOMC and interest rate decisions later.

 

[sebking1986]

After the initial dip USD still looking very bullish.

 

[Petezaa]

USDJPY has been great if you've been in buys, but bad if you've been trying to sell. I would look for HTF confirmation before attempting shorts on this pair. At the moment, it's not worth it though.

 

[sebking1986]

DXY still looking strong and JPY still looking horribly weak. Longs still on the table for me.

 

[fxstrategist]

Eventhough the USDJPY tried to correct to the downside somehow, the bullish trend is still in place and the pair could continue higher.

 

[TareqS]

The pair made a long bullish move in the daily chart. It has produced a Double Top and the price has made a breakout at the neckline. I assume that the pair may remain bearish as long as it is traded below that neckline.