USDJPY Analysis : DAILY OUTLOOK
USDJPY has been on a strong uptrend as of late and shows no sign of weakening. This has prompted a re-analysis of this pair to see what is happening. If this new USDJPY analysis with this Alt wave count is correct, we are to see higher prices directly ahead and even higher prices coming in the mid term.
Market is in a down trend, wait for retrace to previous structure and look for bearish evidence.
USDJPY: Now In A Wave B Of ABC Correction For Higher Prices
USDJPY has been on a strong uptrend as of late and shows no sign of weakening. This has prompted a re-analysis of this pair to see what is happening. If this new analysis with this Alt wave count is correct, we are to see higher prices directly ahead and even higher prices coming in the mid term. The 8HR chart above is showing my projections as to the path that we will see prices go. This initial move up that is happening right now still has some more upside to go and should be the wave (a) of the larger degree B. Wave B should unfold in 3-waves so when this wave (a) ends, we should see wave (b) take prices back down again and challenge the lows before we see a large wave (c) back up to even higher prices. DAILY CHART Here is the update Daily chart of USDJPY that shows the adjusted wave count.
USDJPY – BEARISH Strategy
Go short the USDJPY analysis if it trades at 109.66 or lower. If triggered, place your stop at 110.43 and exit the position for a profit target 1 at 109.01 or profit target 2 at 105.54 or at your own discretion. (Signals are valid for 1 day only. Always invest wisely). In this signal, you don’t get the following: 1. How to identify the trade setup 2. How to identify short term trend 3. How to protect gains in your trade 4. Market deciding price exit for large moves in the market 5. Money management 6. Buy/Sell line which let you know when to buy or when to sell.
USDJPY Break 111 Long Term Buy Setup
Break 111 Long Term Buy Setup. Target 1: 114.80 Target 2: 121 Pivot Analyse : Monthly Pivot 108.38 Resistance R1: 110.43 ( Break R1 = R2 & R3) 121.20 ~ 121.40 Strong Sell Zone Target Down 110 Stop : 121.90
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don’t ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!