Buy opportunity on USD/JPY for swing traders

Trading Discussion Currencies
1 
hello all members

i think there is buy opportunity on USD/JPY for swing traders

there are 2 support points 104.60 on weekly chart

then the price made the third support point as i explain on the chart

thank you

USDJPYWeekly
USDJPYWeekly1362×584 11.7 KB

1 Like
2

There was an excellent 1 Hour buy signal you could have taken during Asia yesterday. Would have given you about 136 pips.

Hang tight. You might get a second entry buy signal within the next few days. Watch the weekly 20 EMA closely, though. You don’t want to be long when price hits it.

3

I will outline two key levels for USD / JPY. These are 105.58 and 106.07. I will place break orders for these levels.
Н4

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4

A lot of volatility on the USDJPY around the 106.00 level. The 55 day EMA along with the 106.78 level could act as resistance. To the downside, the low at the 104.45 level could act as support.

5

USD / JPY is moving in a downtrend. The lines of Tenkan, Kijun and the Ichimoku cloud are lined up in order of seniority periods. One must sell USD / JPY either from the Tenkan line or from the Kijun line. Stochastic is already above 50, but could rise higher.
Н1

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6

Possible double top on the USDJPY daily chart with a resistance area just below the 200 day EMA. Confirmation line for the double top is at the 107.00 low, a breakdown below that level would confirm the pattern and the pair may drop to the 106.00 level.