After the 114.00 level on the USDJPY, its next resistance could be the high at the 114.54 level, but yes, it could reach the 118.00 zone. Below the 55 day EMA at the 113.00 level, its next support could be the 112.00 level.
USDJPY still consolidated in the triangle. According to my own trend following system, we have weekly sell signal, but still in buy mode on daily chat, overall neutral bias. From an Elliottwave perspective, an ABC correction toward 111.06 is still likely. On big picture, we still could not rule out the slowly right shoulder building progress. We'll try a tactical short here and look to add or reduce when the trend confirmed.
The fall continues on the USDJPY below the 113.00 level, but the pair may find some support at the 112.00 level, along with the 200 day EMA. To the upside, the 113.00 level along with the 55 day EMA may act as resistance.
Move down has been relentless. My long term view is bullish on USDJPY so I have been buying into the fall but with price continuing to fall I have had some positions stopped out. I hope we see a pause and bounce at 112.20
I am short all the way now on USDJPY. Long bearish close candle outside of the bollenger band is a sure sign that price will continue to fall. IF we get a deeper pullback I am entering a short position with take profit open
Possible dead cat bounce formantion on the USDJPY daily chart if the price bounces back down from the 109.00 level. The 108.00 level may act as a first support, followed by the 106.62 level where we can find the 200 month EMA.
Since the flash crash last week USDJPY has been a real pain to trade. It is just ranging in a horrible way. This pair needs to get our of the funk and start trending soon. It can be a good pip winner but horrible when ranges
ChristianBeach posted: Since the flash crash last week USDJPY has been a real pain to trade. It is just ranging in a horrible way. This pair needs to get our of the funk and start trending soon. It can be a good pip winner but horrible when ranges
I saw very little influence from the Brexit decision, too. I wasn't expecting much, but c'mon, just a little?
I don't know what flag you are talking about. There may be a short term fall in USDJPY but I am long all the way to the bank. USD will continue to strengthen and JPY weaknen in the medium term. Short is too risky for me