USDJPY set up ideas and trades

TareqS

Sergeant
Messages
180
The pair made a long bullish move in the daily chart. It seems that the price has found its resistance. The sellers may look to go short in the pair. We may see more bearish momentum in the daily chart soon.
 

ForexTus

Recruit
Messages
176
The pair made a long bullish move in the daily chart. It seems that the price has found its resistance. The sellers may look to go short in the pair. We may see more bearish momentum in the daily chart soon.

i think it will depend a lot on how DXY is doing and whether it will have that deep retrace it needs
 

JimmyRozza

Master Sergeant
Messages
260
Surely the top is in for now, starting to print the 3rd weekly red candle. It must pull back to reset.
 

pezz55

Sergeant
Messages
193
USD/JPY back on the charts

I have not touched this pair for the last month as we seen higher highs getting taken all over the place.
Now currently we have seen significant breaks across different timeframes and now broken a daily swing point.

We have retraced slightly and we are back above the 50% level and currently in sell side liquidity.

Ideally we want to break above the previous highs set out today and then break back down with some speed to show willingness to the down side.

Todays 4hour set up DID NOT TAKE THE LOWS so watch out as we could be in for a short term reversal also then you need to switch your bias.

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.
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TareqS

Sergeant
Messages
180
The pair has been heading towards the downside with a moderate pace. The daily chart shows that there is enough space towards the down side for the price to travel. It may attract the sellers to look for short opportunities in the pair next week.
 
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