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some good buying signals shown today on the hourly chart of the USDJPY as the price have a blue arrow as the last signal that viewed by the EMA crossover indicator which uses a 2 exponential moving averages with an unsimilar shifts and you can see the red line crossing above the blue one to act as a buy signal.
it happens also on the QQE indicator that is clear on the chart lines above the fifty levels and showing a buy cross.
We target the area 117.45 by performing buy orders until I can get a new sell cross by the 2 exponential moving averages.
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http://bigimage.cz/photos/20141120141647266491793.gif
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On the USDJPY chart now you can indicate that the price is currently moving above the MBFX indicator's grey line which is the support area with a location at 118.22 Currently by looking on the last signal on vestro indicator it was a bearish saturation signal by going to -100 level of vestro which may be a good notification about going south for the current time if you decided to enter long then you can target the next level of support on MBFX indicator at area of resistance on MBFX indicator at area of 118.8 as first take profit and 119.39 as your next and final target as long as the price did not hit 117.86 which can be used also as stop loss for your buy trades.
http://bigimage.cz/photos/20141120141647834102907.gif
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by viewing the USDJPY chart of the day we conclude that weak bearish trend happened due to the blade oscillator of value 0.128 located below the balance level of the indicator which shows a blue signal to conclude a weak indication that a bearish direction happen on the short run.
By the way the moving average 5 on the chart giving us a down indication then the top placed at price 118.31 can be taken as a stop loss point for the sell orders given by the indicators that we deal with them .
http://bigimage.cz/photos/20141120141648254129860.gif
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A bearish trend is taking place because of the down red arrow located above the price on the USDJPY pair right now.
You can confirm it even more using the sell cross between the snake and T2_clean.
In order to be safe a strong support level should be determined to act as a take profit and I believe the level 117.25 would serve that purpose since it’s a strong support level at the current time.
But of course if it got broken it would mean that the price would head further down and so we would keep selling as a result.
But if the price headed to the other direction it would be wise to use 118.95 as a stop loss level for it’s a really strong resistance As a result to what we said earlier I do believe that selling would be the best decision at the moment unless either a buy cross signal appears or a blue up arrow is shown http://bigimage.cz/photos/20141120141648191236418.gif
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the bullish channel drawn on the USDJPY hourly chart mentioned the red color if the moving average so we recognized that the price is heading down for the current period The opening of the market today is at a higher values than the daily pivot point at 117.61 and due to the data given the price may keep going down untill they reach the first daily pivot support located at the price of 117.38 if the WPR indicator didn't indicate any opposite upward signals.
Then I guess that selling order will take place untill the next support at 117.16 which is a very strong support level to reach before the end of the day.
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http://bigimage.cz/photos/20141120141648616256440.gif
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pair- usd/jpy
analysis time frame- m15
http://i59.tinypic.com/4rdv2s.jpg
the up movement of the price is rejecting from the daily resistance level two at the 118.83 level and falling down side with breaking the supporting trend line. the rsi is now up side it may be again in major trend side. long with stop loss at 117.75
good luck.
---------- Post added at 06:46 PM ---------- Previous post was at 06:44 PM ----------
pair- usd/jpy
analysis time frame- m15
http://i59.tinypic.com/4rdv2s.jpg
the up movement of the price is rejecting from the daily resistance level two at the 118.83 level and falling down side with breaking the supporting trend line. the rsi is now up side it may be again in major trend side. long with stop loss at 117.75
good luck.
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20.11.2014 7:07 USDJPY
In the short term, the dollar pair may rise to 120 yen.
Buy on level breakthrough of 119.00 with 119.63 and 120.00 targets. Stop loss = 118.50.
Reason for the trading strategy
Despite the publication of good statistics on foreign trade in Japan, the USDJPY currency pair continues to reach new highs. Market participants act out the news about the postponement of the sales tax rise in Japan.
USDJPY, H4
https://www.exness.com/2014/11/20/usdjpy.png
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Daily Forecast
Pair: USDJPY
Major Trend: NEUTRAL
Time Frame: H4
Reason: Price today opened and has touched the pivot point at 118.30, For now the price is only a correction to the broken support area at 117.83, then the price can go back to continue the movement to support 115.58 for the long term. Stochastic has reached the oversold area, although there are still opportunities to penetrate the RSI line 50 and headed down.
Recommendation: SELL with a target of 117.07
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http://prntscr.com/58hvnh
analysis for today 11 / 21 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 11 / 20 / 2014
OPEN 117.94
HIGH 118.97
LOW 117.75
CLOSED 118.22
The third resistance (R3) 118.97 - ( 118.31 - 117.75 = 0.56 x 2 = 1.13 )= 120.10
The second Resistance (R2) 118.31 + 118.97 - 117.75 = 119.53
First resistance (R1) 118.31 x 2 = 236.63 - 117.75 = 118.88
pivot points 118.97 + 117.75 + 118.22 = 354.94 / 3 = 118.31
Support for the first (S1) 118.31 x 2 = 236.63 - 118.97 = 117.66
Support second (S2) 118.31 - ( 118.97 - 117.75 = 1.22 ) = 117.09
Third Support (S3) 117.75 - ( 118.97 - 118.31 = 0.66 x 2 = 1.31 )= 116.44
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the price seems to move in downward trend today on the USDJPY chart as there are a red dots above the bars and as long as the price keeps lower than the strong resistance of 117.45 which is also the weekly Pivot point then it seems that the price may keep going south till it can hit the weekly pivot support at 114.48 .
In other scenario if the price can break the resistance 117.45 and get a bullish signals by a blue dots then it’s expected to keep going north till the resistance of 118.62 as the next weekly Pivot point.
http://bigimage.cz/photos/20141121141654346143130.gif .
Spoiler: