USDJPY set up ideas and trades

USDJPY TGIF set up

Looking at this possible set up for London open tomorrow or New York session.
This pair reacted nicely last week and dropped back down after taking the relative equal high, this time i am looking for it to push up and seek the liquidity from the external range above last weeks high in the market open tomorrow and reverse back for a Friday close to the week.

As you can see we have taken the highs of the week and are now towards the high of last month.
From here I would look for a Friday drop before we continue higher in to next week.

Every thing will need to be correct before I enter this trade as time and price will be key during the market sessions watching for a BOS and and an entry on the smaller TF.

Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.

I'm afraid there were equal highs which you've pointed out with the red line on the high and another off screen. Combined with HL on the approach wouldn't make me confident of a short here. As such price powered through this level. Zooming out further it has cleared another set of equal highs too. Betting against the USD in this climate is brave also.

Nice area of Supply to the left like this setup bos nearing completion 👌 

I like the idea, I'll be following along to see how it plays out.

Nice imbalance below could be a nice sell

Pezza posted:
USDJPY TGIF set up

Looking at this possible set up for London open tomorrow or New York session.
This pair reacted nicely last week and dropped back down after taking the relative equal high, this time i am looking for it to push up and seek the liquidity from the external range above last weeks high in the market open tomorrow and reverse back for a Friday close to the week.

As you can see we have taken the highs of the week and are now towards the high of last month.
From here I would look for a Friday drop before we continue higher in to next week.

Every thing will need to be correct before I enter this trade as time and price will be key during the market sessions watching for a BOS and and an entry on the smaller TF.

Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.

The price made some good bullish move by obeying that trendline. It seems that it may have found its resistance. I am eying to go short in the pair as well since the price had a rejection and made a strong bearish move from that marked zone earlier. The last two rejections suggests that it may end up producing a Double Top here. If the price makes a bearish breakout at the neckline, it may head towards the South as you have suggested here.

A move south looks likey now with an updated setup. Not that I would take it today, the USD still looks strong enough to tesr these levels even further

USDJPY Swing idea.

Looking at this possible set up for London open tomorrow.
This pair has currently climbed all the way up over the last few mouths and we have just come up to above where we were at in Dec 2016.

Now just because we have gone this high does not mean we will come all the way back down but I do think we will see a short term retracement over the next few days to correct the current move.

Now currently on the 1 hour we have broken structure to the down side, would be good to see a clear 4 hour break of structure for more confirmation.

Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.

Much better looking set up this time around. Likely to retrace after this move up and a number of imbalances below to fill.

Wow JPY is so weak at moment. Looks like we are taking aim at the 2015-2016 highs now.

USDJPY Price Correction.

JPY has been weak across the board with some huge moves across the board on these pairs. But at some point there must be some form of correction.

For this I will be looking for a 4 hour rejection of the run up tomorrow London session. then setting up a sell going in to New York.

As you can see marked out on the daily timeframe I will be targeting 50% of the move up and we can see a red candle in the middle of all the green candles which is out of place and needs mitigating.

This trade idea is only short term as currently market structure is still very bullish and we will see a continuation on the up side so its important to take profit if you get in the trade before the market takes it back again.

Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.

sebking1986 posted:
Wow JPY is so weak at moment. Looks like we are taking aim at the 2015-2016 highs now.

We are there now :-o

Its pushing so much wonder whats going on in Japan atm

We have a reaction!

Should be an insane sell off from the top, can’t wait to get in as I missed the upswing

It is very bullish in the daily chart. The sellers may stay from the pair for a while. For the intraday buyers, it would be tough to go long as well since the price has been overbought in major intraday charts. In a nutshell, traders are to be very cautious with the pair to trade USDJPY.

Zoom out and look back to 2015. There are the targets I'm looking at.

Man it has a long ways to fall its game on now folks

Long way to fall but what goes up must come down I guess.....