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USD / JPY is safe to look at buying, as we can see on the daily chart has formed a clear long-term support level, it is now the pair is testing the (touch point) 97.15 pair completely stopped near a decrease of 4 hour chart can be seen forming a bullish divergence and buy signal MACD, waiting out 98.75.
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USDJPY is still in a down trend, with trying to test the support levels at 97.03 price above MA daily. As long as price is above MA daily still, it is possible to retrace the resistance level in the area of price level 97.25. but if it fails then the pair is likely to move down to a level of 96.82 to 96.40.
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Daily pivot Fibonacci points: Resistance levels: R1:97.70 R2: 97.90 R3: 98.18 Support levels: S1: 96.98 S2: 96.76 S3:96.40
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the pair trade down the down trend in 1h chart
stochastic refers to down way
so the pair will continue to down way
http://www4.0zz0.com/2013/10/04/12/372505513.png
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USD/JPY
(Last Price: 97.20)
SELL, Entry = 96.99, SL = 97.39, TP = 96.59
if wrong then BUY, Entry = 97.39, SL = 96.99, TP = 97.79
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As can be seen the couple is still under heavy selling pressure that centered around moving the alligator consider two scenarios: the first extension of the southern trend and a break lower 3 fractals (figure 97.00 area) - this would lead to the continuation of the southern trend, second-strengthening above 97.35 should open 98.00.
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USD/JPY
(Last Price: 97.20)
SELL, Entry = 96.99, SL = 97.39, TP = 96.59
if wrong then BUY, Entry = 97.39, SL = 96.99, TP = 97.79
:doubt:
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usd/jpy technical analysis basis of stochastic(5,3,3) and adx(14) for last few hours
stoch(5,3,3)
main : 37.25
signal : 6.44
adx(14)
adx : 18.28
+di : 16.93
-di : 23.72
so we see the market
condition : neutral
overall trend : ranging
timeframe : m15
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http://charts.mql5.com/2/682/usdjpy-...orex-group.png
how are you
we can see in the 1w chart
the pair can not close up the broken down trend line
I see the pair will go to down way to 94.39
stochastic refers that the pair will go down
so our target sell from 97.39 and our target will 300pips
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Falling wedge, sideways market: USD/JPY has been trading down in a falling wedge shown in the 4H chart. The mode in the 4H chart is sideways as suggested by price action whipping up and down a relatively flat 200-4H SMA. But the market is threatening to turn bearish. To turn from neutral to bearish, USD/JPY bears need to capture the flag around the 96.80 handle which includes several pivot factors:
1) Resistance area between 8/7-8/12
2) Support area during rest of August (If you look at the Daily chart, you see this area pivoting the market going back to March.
3) 78.6% retracement of the 95.80 – 100.57 rally (Aug- Sept)
4) Rising speedline (seen more clearly in the daily chart)
5) A previously broken falling trendline that came down from the 2013-high of 103.73.