Tag: USDJPY Analysis

And here is my plan for the USDJPY

Slow market isn’t it?

Anyway, last week I mentioned that I will only look for long opportunities on the USDJPY, and here are the levels that the market needs to break in order to start looking for long opportunities:

Once the USDJPY breaks the top of the range, I’ll start looking for long opportunities, and hope the BOJ intervenes again :)

By the way, did you see what the minister of finance of Japan said (I quote): “I have become more concerned about the worsening of the yen’s one-sided movements. I will take bold action if necessary and won’t rule out any possible options”.

Scary isn’t it?

Trade Safe!

Raul Lopez
Forex Training
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USDJPY Analysis

Would you short the USDJPY even with BOJ interventions?

I wouldn’t go short on the USDJPY, and you know why, there is always the possibility to get caught during a BOJ intervention, and if you use tight stop loss order as I do, you are going to get caught…

So, my plan for the USDJPY is to wait for it to be in a bullish market condition. When would this be? Take a look at the next chart:

  • If it breaks the bottom of the range (lower green level) it will be trading in a bearish condition, but I wouldn’t do anything here because of a possible BOJ intervention, so I’ll be on the sidelines if this happens.
  • If, on the other side, it breaks the top of the range (upper green level) it will be trading in a bullish condition and long opportunities will be in play, and of course I’ll look to enter here. What happens if the BOJ intervenes? It will be on my direction, it will actually help my trade reach faster my take profit order.

Remember though, we need to wait for the USDJPY to break the top of the range before looking for any trade opportunity.

Trade Safe!

Raul Lopez

Forex Training
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USDJPY Analysis

USDJPY – Long signal

The USDJPY is trading in a very clear bullish market condition, it broke through the congestion zone it trade in for about 8 days. It retraced back and formed a significant pattern with upward pressure:

Here are the details of my order:

Entry: 81.55
SL: 81.15
TP: 85.19

Trade Safe!

Raul Lopez
Forex Training

USDJPY Analysis

USDJPY – Longs in play

We’ve been talking about the USDJPY and the BOJ interventions. Whenever the USDJPY is trading in a bearish market condition I hesitate about going short because of possible interventions, but when it is in a bullish market condition, if the BOJ intervenes, it will be in the direction of our trade. And that’s the case today, it is in a clear bullish market condition.

The Dollar-Yen is trading in a bullish market condition, last Friday it broke through an important resistance level and today it is trading above every important level in the short term charts:

I’d like to see how it behaves around the closes ST support level around 84.17, if I get something significant with upward pressure I’ll definitely go long.

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Raul Lopez
Forex Courses

USDJPY Analysis

USDJPY – Broke the ST range

The USDJPY broke through an important LT & ST resistance level triggering a bearish market condition. I’d feel perfectly comfortable going long here, because of we see a possible intervention of the BOJ, it would be in the direction of my trade. This is how my short term chart looks like:

As long as the USDJPY trades above 83.55 I will be looking for long opportunities in the dollar-yen.

Trade Safe!

Raul Lopez
Forex Training

USDJPY Analysis

Major Power

The market is getting clearer and clearer by the minute, yesterday I was unsure about many currency pairs, they were either trading at an important level in a not well defined range in the short term charts, or unsure about the long term levels.

But things are different now, most pairs cleared up their path and are in the clear market condition, heading directly to the next LT level.

Today a like the Majors:

EURUSD – Clear bearish market condition (shorts in play)
USDCHF – Bullish when trading above 0.9697 (longs in play)
GBPUSD –Bearish when trading below 1.5730 (shorts in pay)
USDJPY – Clear Bearish market condition (although I don’t think I’ll open a trade in this one because of a possible BOJ intervention).

That’s my plan for the majors!

Trade Safe!

Raul Lopez
Forex Training

EURUSD Analysis, Forex majors, GBPUSD Analysis, USDCHF analysis, USDJPY Analysis

USDJPY – Trading at an important level

The USDJPY is trading near a LT important level :

I wouldn’t feel comfortable if the USDJPY breaks this range for the downside, the BOJ has been intervening around these levels. However, if it breaks the upper green resistance level, I would look for long opportunities (and if the BOJ intervenes, it will be in the direction of my trade).

Trade Safe!

Raul Lopez
Forex Training

USDJPY Analysis

USDJPY – Shorts in play

I can’t recall the last time I wrote about the USDJPY… Anyway, it is trading in a bearish market condition and short opportunities are in play:

USDJPYhe next LT support level is at 83.45 (where all TP orders should we set).

Be careful though, remember the BOJ recently intervened and made the USDJPY go from 82.86 to 85.74 in just one day.

Trade Safe!

Raul Lopez
Forex Training

USDJPY Analysis

USDJPY – Reacting to the bottom of the range

Earlier this morning, the USDJPY reached the bottom of the short term range, and apparently it is being rejected from that level:

USDJPY
USDJPY

We might get a trip to the top of the range… what do you think?

We need to adapt to the market conditions, if the USDJPY is ranging, lest trade a range bound strategy (we cant trade it as if it was trending right?)

Please let me know your thoughts.

Trade Safe

Raul Lopez
http://www.protradingnow.com/

USDJPY Analysis