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Usdjpy-bullish

USDJPY: The rally shows strength The USDJPY currency pair on the 4-hour timeframe has been following an uptrend since 3 February. The price reached 112.136 on 5 March (The highest level of 2019). The price action in the USDJPY is mainly driven by the strength in the US Dollar. Traders eagerly waiting for the Non-Farm payroll numbers from the US and clarity on the US-China Trade deal for clear direction. The 4-hour chart of the USDJPY confirms the positive sentiment in the price movement as the pair is making successively higher tops and higher bottoms. The lowest value of the period under study was recorded on 3 February when the price registered the low of 109.441. Since then, Bulls are in full control of the market as the price reached the highest level of 2019 on 5 March (112.136) By applying Oscillators analysis, all three indicators confirm the positive bias in the market. As the chart shows, price is well above the 200-period Moving Average. The MACD (Moving Average Convergence/Divergence) is recording values above the zero-line which shows positive sentiment in the USDJPY currency pair. RSI (Relative Strength Index) showing values above 50 which means strength in bullish movement. Despite of the recent pullback in USDJPY, the rally shows strength because of the strong US Dollar. First resistance level lies at 112.136, once the price break this level, bulls will be able to push the price to register fresh high of 2019. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Long
by FXTM
USDJPY breakoutThe price seems to have broken out the resistance level of this bearish channel. The price is currently forming a bullish channel as it breaks out the channel. The price is touching the resistance level of the bullish channel and looks like it may move down from here, this has also been confirmed by the high RSI value. I believe the price would move down from here, it is very likely that the price would move down to the previously broken resistance level, if the price is able to bounce from here it is very likely that this channel would run for a little longer and it is very likely that this pair would see bullish gains over time.
Long
by JohnnyPurtoy98
Could USDJPY be swinging back up?Could USDJPY be headed to the upside? Technicals may be leaning bullish on USDJPY and here’s why: - Triple bottom formation currently forming (possible indicator of a reversal). - Using bullish bias on the daily chart, price is currently hovering on the 50 level of the Fibonacci indicator, which can be used as high indication for bullish swings. - Lastly, EURUSD has recently double topped (possible indication of reversal to the downside) which is known to oppositely correlate with USDJPY. If USDJPY fails to hold this key area, we could see a tumble to the mid 110 zone before any robust evidence of upcoming bullish events. Thoughts?
Long
by jgardere
USDJPY potential bullish bat completeing at structureThere is POTENTIAL bullish bat on usdjpy h1 (I said potential because still long way to complete D. Still we don't know if market will move up or down to completion) Something interesting is that IF it completes, it will do it at even price of 111.000 Entry @ 110.97 SL @ 110.67 TP1 @ 111.42 TP2 @ 111.67 As always, comments are welcome --------------------------------------------- "Build a plan, follow it consistently" Regards Rafael
Long
by rafo05