USDJPY set up ideas and trades

[pezz55]

USDJPY
After last weeks fall i managed to close out strong for the end of the week, looking at the current range now i am still looking for bearish movements on this pair but feel we need to pull up and fill in some of the rage, as you can see we have taken the low to the left and held on the daily candle.
Now i will be wanting to see a short term retracement back above 50% of the wicked range before we continue to push down again.

What are you current thoughts on UJ at the moment are you bullish or bearish on this pair?

 

[TareqS]

The pair seems to be very choppy in the H4 chart. The level of 138.550 has been working as a level of support. Traders may wait for a strong bullish reversal pattern to go long in the pair. A bearish breakout may drive the price towards the South though.

 

[RachelEB]

Got to wait for the pullback now after that drop, I like the 142.100 to 143.100 zone for it to reach and then look short

 

[Petezaa]

Now looking bearish on the higher TF - strong daily zone around 145.677 - 146.795.
Formed a lot of liquidity this trading week just gone, so I would expect price to continue up, tap this zone and drop again.

 

[TareqS]

The level of 138.550 has been working as a level of support here. The price has been heading towards the North. As of writing, the price is having consolidation. Another bullish breakout may push the price towards the level of 145.360

 

[ForexTus]

Massive imbalance to fill to the upside. I like the entry point

 

[TareqS]

The pair had a strong rejection at 142.200 and made a strong bearish move. The pair closed its trading week around 138.00. A bearish breakout may make the pair more bearish. On the other hand, a bullish reversal pattern may push the price towards the North.

 

[TareqS]

The pair made a strong bearish move in the H4 chart. If the price makes a bearish correction, the level of 137.500 may work as a level of resistance. The sellers may go short from that area and drive the price towards the South with more pressure.

 

[TareqS]

The pair has been traded around the level of 133.650. If it produces a bullish reversal pattern, the buyers in the minor chart may push the price towards the North. However, overall price action has been bearish in the H4 chart.

 

[alphalegacy007]

I took a short position and I was stopped out unfortunetly