Forex Market Analysis – USDJPY Potential Pre/Post-BOJ
Fundamentally UJ has not seen much change. but we ar presently seeing some retrace. a possible turning could be at, thus for those interested to buy – 116.1/2. a longer term view sends US as high as 121-122 depending on after we reach it. There i’d be looking for a big short position as it would be a time when DXY would be overextending and the USD bull run could be out of fuel.
In Other View Point – Long based on Clone levels – Intraday trade
This momemtum on this pair is still towards upside. as long as its above 116.5 ,i will be buying each drop. Current interested area of buying is at the break of 117.75 for targets 118.20 and 118.9 Clone Levels: For Upside: 117.39-118.2-118.8 For Downside: 117.39-116.65-115.91 .
In Another View Point – Usdjpy Trading Setup
Hello everyone, here we are trying to sell the breakdown of the ascending channel. Also we have a harmonic pattern in the same area with market conditions breing overbought and a divergence present on the MACD Starting capital – 20000 USD Risk Profile : 2:1, 2.6:1 , 3.4:1 , 5.6:1 Risk – stop is very big so set your positions accordingly Target – First target is 400 pips down Account exposure – 1.5% i.e. 300USD Potential Reward – 4.5%+ i.e. 750USD+. Happy Trading.