Thread: Usd/Jpy
The ratio of long to short positions in the USDJPY stands at a massive 8.03 as nearly 90% of traders are long. It seems increasingly likely that the US Dollar will continue to test record-lows against the Japanese Yen amidst such one-sided crowd sentiment.
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Abubakar 148 (2020-08-19), Hamzagoroo (2019-04-06), Hanif484 (2018-12-24), zainm6050 (2019-05-11)
If a M15 close above 77 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 76.25 sell only and do not buy. If price closes back above it again do nothing
The range 77 and 76.25 is neutral area, any trade done in between is personal decision and not part of this analysis
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Abubakar 148 (2020-08-16), Hamzagoroo (2019-04-06), Hanif484 (2018-12-24), zainm6050 (2019-05-11)
as we can see from the chart , the pair has stated it's trading week under the level of 77.00 and that's mean that the down trend is expected for this week and the pair might head to 76.70 and then 76.40
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Hamzagoroo (2019-04-06), Hanif484 (2018-12-24), zainm6050 (2019-05-11)
break of 85.51 is needed to be the first signal of medium term reversal. Otherwise, we'll stay cautiously bearish in the pair.
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Hamzagoroo (2019-04-06), Hanif484 (2018-12-24), zainm6050 (2019-05-11)
There is no indication of trend reversal yet even though medium term downside momentum is diminishing with bullish convergence condition in weekly MACD
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Hamzagoroo (2019-04-06), Hanif484 (2018-12-24), zainm6050 (2019-05-11)
still not much we can do with this pair.......it traded sideway since monday maybe it because of lack of good news or the boj need something to do to control yen.....my view still same and this pair need to go down
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Hamzagoroo (2019-04-06), Hanif484 (2018-12-24), zainm6050 (2019-05-11)
as we can see the down trend very clear on the weekly chart here and for the previous week the down diriction continue and the bearish candle closed under stron support of 76.50 so it seem we gonna see more falling next week for this pair
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Hamzagoroo (2019-04-06), Hanif484 (2018-12-24), zainm6050 (2019-05-11)
Setbacks have stalled out just ahead of the 76.25 record lows from March, with the market dropping to 76.30 ahead of the latest consolidation. Given that we are seeing the rate by record lows, we would not at all be surprised to soon see the formation of a material base in favor of significant upside back above 80.00.
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Hamzagoroo (2019-04-06), Hanif484 (2018-12-24), zainm6050 (2019-05-11)
Such down trend is expected to extend further into uncharted territory with 70 psychological level as next target. In any case, we'd at least need to see sustained break of 85.51 before considering trend reversal.
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Hamzagoroo (2019-04-06), Hanif484 (2018-12-24), zainm6050 (2019-05-11)
USD/JPY dips to as low as 75.94 last week and the break of 76.28 confirms resumption of the whole fall from 85.51.initial bias will remain on the downside this week and further fall should be seen towards 100% projection of 81.46 to 76.28 from 80.23 at 75.05 next
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Abubakar 148 (2020-08-17), Hamzagoroo (2019-04-06), Hanif484 (2018-12-24), zainm6050 (2019-05-11)
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