Thread: Usd/Jpy
USD / JPY has just walked right up to the next strong support level of 97.00 figure, MACD is in the lower zone, and I think this mark will be the resumption of the northern point of growth, think of it will rebound in the area of 97.60 and 98.00, a break to open the same 97.00 96.10 (200 MA).
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As you see in my following attached chart, therere two contradicted patterns, the first one is an inverted head and shoulders pattern, shown by the green arrows, and its confirmation level at 98.75, and the other one is a minor head and shoulders pattern with a neckline at 97.25, shown by the red arrows.
Therefore, the next intraday trend depends on surpassing one of the mentioned levels, as breaching above 98.75 will offer upside targets that surpass 100.00 level to reach 103.00, while breaking 97.25 will push the price to 95.35 initially. This contradiction requires monitoring the price behavior according to the mentioned levels to confirm the next trend.
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well usd jpy is not one of the pairs that I trade on alot but when u ask me where it is going today I'll tell u with a support at 97.2 i see that baby going 100 pips upper side today god bless
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Our preference: SHORT positions @ 98.2 with targets @ 96.8 & 96.2.
Alternative scenario: The upside breakout of 98.3 will open the way to 98.7 & 99.25.
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today i like to buy this pair @ 97.20 to 97.40 range
my stop loss of the day @ 96.88
half take profit for today @ 97.67
and further half take profit @ 98.13
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Usd/jpy daily pivots by using fibonacci pivot indicator.
r3: 99.43
r2: 98.85
r1: 98.48
pivot : 97.90
s1: 97.32
s2: 96.95
s3: 96.37
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time frame- M30
macd indicator is giving us long trend signal with the parabolic sar but in the price chart the pivot point at 97.87 is try to rejected. at this level it is making bearish engulfing candlestick pattern. we can short this pair with the take profit at 97.15 and stop loss at the 98.00
good luck.
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Usd/jpy analysis for 06.25.2013 by using pivot indicator.
r3: 100.02
r2: 99.35
r1: 98.54
pivot: 97.87
s1: 97.06
s2: 96.39
s3: 95.58
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USDJPY,H1
Date 2013.06.25
Time 04:00
Spoiler:
Open 97.78
High 98.05
Low 97.77
Close 97.96
Volume 163
SMA(5) 97.72
SMA(10) 97.70
SMA(20) 97.81
SMA(50) 97.81
SMA(100) 97.13
SAR 97.22
Indicator window 1
Stoch(5,3,3) 75.3968
Signal 52.1261
Indicator window 2
RSI(14) 54.3358
Indicator window 3
MACD(12,26,9) -0.046
Signal -0.067
Indicator window 4
%R(14) -31.1927
based on combination of indicators above,
trend : NEUTRAL
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scenario for this pair to day usd - jpy
elliott flat correction up 98.48 current rise should end around 98.31 objectives of this down move are 97.05 or 96.32 arise above 98.86 is again bullish
support and resistances
res2 98.86
res1 98.31
piovt 97.59
sup2 97.05
sup2 96.33
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