Forex Market Analysis – USDJPY Trading Idea
Price reached 118.00 level and formed bearish divergence with RSI. It’s time for closing all long trades with good profit. We have a signal for possible down movement. Open short trades, when MACD histogram and ADX line start falling. Place stop orders above the resistance level 118.00. Profit targets are Moving Averages with 20, 50 and 100 periods. You can search for entry levels on the daily and hourly charts.
In Other View Point – Short USDJPY 0.618
USDJPY, 2618 can wait for the price retracement after 0.618 short, there are still important structure of the 0.618, it is noteworthy You can wait for technical indicators (RSI or KD) to go short in the overbought zone
In Another View Point – USDJPY bearish stair step formation
H4 – bullish market, making a retracement H1 – downtrend after consolidation indicating that a retracement has started (red line). Waiting for a retracement from the downtrend to get short M30 – bearish stair step trade (61.8 + 1.618 inversion) Entry – 61.8 + 1.618 inversion Stops – above previous highs Profit – 1.272 extension
In Another View Point – Rejection candle
USDJPY is showing very nice rejection signs on the 4 hour so I’m looking to buy. After the buy if it respects the highs then ill be opening a short position to possibly ride the wave down if it lines up correctly