Tag: dollar-yen

Yen Crosses Party

It’s interesting that from the currency pairs & crosses that I’m monitoring right now, the yen crosses are the ones with the most interesting market condition, including:

EURJPY, GBPJPY, NZDJPY, AUDJPY

These crosses are trading in a very clear bearish market condition, but that’s not all, the next LT support level is a few hundred pips away on all of them.

But one pair I don’t like right now is the USDJPY, not clear market condition, no consistent support & resistance lvls…

Weird isn’t it?

Be careful tomorrow with the NFP announcement

Trade Safe!
Raul Lopez

AUDJPY, dollar-yen, EURJPY, euro-yen, GBPJPY, nzdjpy, yen crosses

USDJPY: Bullish condition, looking for long opportunities

I’ve been a little hesitant about looking for short opportunities in the USDJPY and other yen crosses since the BoJ intervention in the last few weeks, this is the reason I’ve only focused on long opportunities when they are in a bullish market condition. And this is exactly what is going on in the USDJPY right now:

USDJPY
USDJPY

It was trading in a short term range, but earlier this morning the USDJPY broke the upper extreme of it, triggering a bullish market condition.

Here is my plan:

As long as the USDJPY keeps trading above 90.28 I will be looking for long trade opportunities. My next LT resistance level is at 92.29

All short opportunities will be ignored.

Trade Safe
Raul Lopez

dollar-yen, Forex majors, USDJPY Analysis

USDJPY: Bearish MC, looking for short opportunities

The USDJPY was trading near a Long Term support level around 88.58, it traded in a short term range around 89.10 – 88.62, but earlier this morning the USDJPY broke the bottom of the range:

USDJPY
USDJPY

That being said, we are actually in a bearish market condition looking for short trade opportunities.

Here is my trading plan:

As long as the USDJPY trades below 88.62 I will be looking for short opportunities. The next long term support level is at 87.12

All long opportunities will be ignored

Remember the USDJPY needs to be trading below the 88.62 for this to be true.

Trade Safe!
Raul Lopez

dollar-yen, Forex majors, USDJPY Analysis