USDJPY succeeded in breaching the 109.33 level and holding steady with a daily close above it, reinforcing expectations for the bullishness to continue in the intraday and short term, paving the way for visiting 110.50 as the next main stop.
The ascending channel continues to regulate the suggested bullish wave, which gets sustained support from SMA 50, noting that a break of 109.33 might put pressure on the price to test 108.40 areas again before any fresh attempt to rise.
Expected trading range for today is between 108.80 support and 110.20 resistance
Greetings to our dear traders and speculators who are here in the forum!
Letís talk about the US dollar/Japanese yen currency pair:
Based on the four-hour chart, the price managed to toss the pin upwards; however, it was unsuccessful in moving over the level of 109.60. Thus far, it can be noticed that there is another pullback and flat at the level of 109.47. Despite that, it is not recommended to purchase the dollar/yen pair from the present level. Moreover, it is generally not recommended to open positions at the end of the month. Now, it is required to look forward to what this currency pair will provide us during the American trading session. Today is Friday, which is the end of the month and during the start of a new month, a new entry point will also be expected to see. At the moment, an increase is likely but not over the level of 109.60. Meanwhile, there is a support level of 109.35 downwards. Thus, going there and breaking through it will provide a direction to the downward price again. Also, the level of 108.30 can be observed under that target. However, everything is still indicating upwards as of the moment.
I anticipate this pair USD JPY have bullish course
the cost is break Obstruction and Pattern Line and it is Flying Up side with having the Long signal from the explanatory SAR.
the market pattern could stay in this position and I expected help opposition levels.
I recommend to take LONG position today.
time allotment that is considered while making backing and opposition levels Ė Day by day and Week by week time allotment, think about the day by day monetary news before taking the exchange.
If anything, the Japanese yen is undeniably keeping a record of constantly staying at the bottom. The US dollar, on the other hand, is steadfast on being at the top as it has strengthened throughout the past week and no statistics are preventing it from doing so. Anyhow, the USD/JPY currency pair has already fixed above the level of 109.492, although I have assumed that purchases would be completed a little earlier last week with a maximum of 109.492.
Meanwhile, the pullback drags the price lower than the growth amplitude, and this suggests that the bulls are having a difficult time. And given that we did not cease or pause when we talk about the goal, it is only fair and reasonable that we move further and by this time, we should at least try to reach 110.485 for a possibility to reach 111.349 in the future.
I personally believe that initially, even still without a rollback, a 110.485 is still impossible, this is given the circumstance that the bulls will shortly feel exhausted. Also, I also believe that it is still not the perfect time for sales at this moment despite the upward trend, because hasnít been any transparency yet on how long the bulls will last.
Anyhow, sales in this current situation is possible around the breakdown of 109.369, the same thing goes for the shopping. In line with this, it will be unlikely that from this level it will turn around, thus a perfect time for us to grow. Also, the signal down would be higher. That sums up my notion for this day, may we all have a profitable day ahead!
The Japanese Yen's ties to global risk appetite have seen it gain in the past week as global trade and growth fears mount again. But there is still reason to suspect that currency will not prosper into year end. For one thing the very pace of slowdown seen in much economic data may add an urgency on trade negotiations which had previously been lacking. Equity markets' obvious fragility could do the same. It is now very obvious from the numbers that both US and China could really use at very least an interim trade settlement, with recent slide in US manufacturing only underlining the point. In future the Yen may not be as comfortable as it looks like now.
So, here is what I think, at this moment I am considering three levels for potential sales, and apparently I have already placed a pending sell order on the other two which are levels 109.21 and 109.41 meanwhile the other one I consider the best level of sales located at 109.61. Moreover, there is a total stop for a last high at 109.73 plus 10% of the APR, which I anticipate to fix the total profit at 108.70. Also, I did not place a pending order at 109.21 because I am considering using it the moment the price places into operation a pending order at 109.4. For now, that sums up my notion for this day. May we all have a profitable day ahead!
The US dollar/Japanese yen currency pair will open the upside soon. Although, we are uncertain that they will move further upwards, they can still be pushed at least to the level of 109.30. On the hourly chart, signals for sales can be seen. On the other hand, trading is under the moving average and blue guidelines. The breakdown of which was made on a strong impulse following the release of news regarding the US currency. Thus, during the day, trading for the dollar is such a tragedy. Now, on an impulse downward movement, the indicators found below varies. As the price moved lower, the volume earned impulse a lot quicker. The price managed to reached the level on November 16, but the instruments did not demonstrate a dive. This indicates that the price is not allowed to move deeper. Instead, it will move upwards again after consuming all the negativity. Moreover, sellers need to wait for a reversal around the level of 108.70 which will occur anytime soon.
Based on the graph below, it can be noticed that the blue guideline managed to overcome the news impulse, however, there was no confirmation that this was a reversal. Thus, another touch of the guideline located at 109.30 will be considered. However, the moving line is already in such a rush to move ahead and went beyond the lower boundary of the range. This is an additional mark to the fact that the future growth will absorbed the whole impulse of the news.
Today, the price of the US dollar/Japanese yen currency pair is testing the support level of 108.49. This level has been broken since June stated, and it can be noticed how the price has continuously made it through. As shown in the daily time-frame below, this level is clearly displayed on the price movement. It is interesting that before the price rebounds from a provided level of support/resistance, the price fought back from it point to point.
Yesterday and this morning, the support level of 108.49 was tested point by point by the price of the pair, which can indicate the possible direction of the price movement at least for this current week.
At the same time, given the fact that we have observed a quite strong decline in the price recently from the local high formed at 109.73 in an average short period of time, the price will most probably break through from the support level of 108.49.
Now, one of the most possible scenarios of price movement can be considered. It is when a price rebound to the level of 50%, based on the Fibonacci grid which is constructed at the levels of 108.49 and 109.73. This Fibonacci level is approximately at 109.11.
For the USD/JPY currency pair, yesterday, the US dollar had lost ground against the Japanese yen. And for this day, there was no other significant news, besides perhaps the speech of US President Donald Trump, where apparently, he never said anything new as well. Anyhow, the yen has risen in price about the level of 108.50 and right now the pair is trading at the levels of 108.55 to 108.60. The movement of the pair must have been affected by the sanctions of China against several American companies. Although, the yen can still continue to move onwards.
Meanwhile, analyzing a 30-minute timeframe, we can notice the way the moving midpoints have coincided with the time of the fall (this is represented in red and blue lines). The following coincidences are around the levels of 109.15 and 109.60. For now, we just anticipate for the third crossing at the level of 108.65 to 108.70. And that sums up my notion for this day, in so far. May we all have a profitable day ahead!
For this day, the yen is seemingly in a series of an equivocal situation. Again it rested at the level of 108.80, and so from this area, I will not consider buying nor selling. At this moment, I am sitting on the fence, so to speak, hoping that the bulls will finally be able to move a little higher because if that happens I will resort to open for sale. Meanwhile, there hasnít been any significant news for the US dollar and is not expecting for this day, thus we do not expect any sharp movements. And if it happens that we proceed down from the current ones, I will seize for an opportunity to buy below. That sums up my notion for this day, so far. May we all have a profitable day ahead!
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