USD/JPY closed at 113.50 having limited potential for the upside. According to technical readings on the four hour time frame the price is barely holding above directionless moving averages, while the RSI aims marginally higher around 54 but the Momentum maintains the sour tone below its mid-line. Nevertheless, and as long as the pair holds above 113.20, the risk is skewed to the upside.
I took a quick profit at 113.660 earlier today but sheesh USD/JPY has slid crazily down to 113.400 which is weird caused USD is performing good against the other basket of currencies.
USD / JPY is moving in a downtrend. Tenkan, Kijun and the cloud are lined up in order of seniority periods. USD / JPY bounces from Kijun down. Today, the “absorption” candlestick pattern has been formed. Stochastic at 80, bulls are full of energy. Sell.
Daily
I don’t know Alex I think your Ichimoku strategy should b traded the opposite direction in the long term. I brings decent pips! I saw a similar analysis you shared on the cable and it gives more profit if traded the opposite of what you posted.
What to do? Just do you, make your analysis as you do then trade the opposite.
It seems USD / JPY can not overcome the resistance of the blue line Kijun. It is sad. I spend a few days shopping in a losing position. Stochastic has reached 80 and is now moving down. The red line Tenkan turned up, it is encouraging.
Н1
USD / JPY has fixed above the Tenkan line. The stochastics are already at 80, the bulls have little strength left, but they are there. I think USD / JPY will move up to the border of the Ichimoku cloud at 108.80.
Daily
The USDJPY pulls back above the 108.00 level, but the 55 day EMA may act again as resistance. To the downside, the 106.78 low may act once again as support.
I want to start buying USD / JPY near 105. Who has thoughts on this subject?
From 105 USD / JPY began to grow earlier. Stochastic is already oversold. We are at the bottom of a very large corridor. Or will there be divergence and USD / JPY will start to move up now?
Weekly
1 Like
I believe that price will rise for UJ, it made a nice bullish move yesterday so price may continue to rally in that direction.
I have an open position on USDJPY and EURJPY, both slightly negative. Any suggestions/thoughts on where I should set SL while waiting for markets to open on Sunday? Just get out to minimize loss or any specific SL position that makes sense?
USD / JPY may reverse from these levels, but I will wait for it below, at 104. So far I do not see the prerequisites for an upward movement. There are some divergences on the oscillators, but very ugly.
Н4
imagine if you would have had a buy stop in place,UJ shot up big time today,it was ranging for a while
There is a possible death cross pattern on the USDJPY weekly chart, but the price is currently stuck between the 106.00 level and the 106.78 level. The bearish trend is still in place and if the death cross is confirmed, then the price may drop to the low at the 104.63 level.
anyone still trading 2021?
you trading at opening markets?