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  1. #1
    M.J
    M.J is offline
    Veteran Member M.J's Avatar

    Wedge Breakout - Usd/Jpy !!!

    Usd/jpy broke long term wedge a few weeks ago and now it is expected to break another wedge in favor of bullish trend. It is expected to reach somewhere near 98:00 level first and then it will most probably cross 100.
    Current week is expected to remain bearish.

    Click image for larger version. 

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  2. #2
    Specialist Member runneroption's Avatar
    Quote Originally Posted by M.J View Post
    Usd/jpy broke long term wedge a few weeks ago and now it is expected to break another wedge in favor of bullish trend. It is expected to reach somewhere near 98:00 level first and then it will most probably cross 100.
    Current week is expected to remain bearish.

    Click image for larger version. 

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ID:	900
    That will be great moment for entering into long term binary options Call on USD/JPY. I think not only the technical picture confirmed that move but also the fundamentals are on that side Thanks M.J for the insight.

  3. #3
    Legendry Member Michael Hodges's Avatar
    100 is going to be crucial level to break. I am waiting for strong move above which I think will come this week or first part of next week. . . I think the 100 resistance is FOMC based. . .

  4. #4
    Veteran Member hchandra's Avatar
    a Visit to lower trend line (At the chart) might be possible,
    market highly volatile with FOMC news defying taper,
    Base on weekly, its still okay for USD/JPY price to reach 95.8

  5. #5
    M.J
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    Veteran Member M.J's Avatar
    I was expecting something close to 98.00 but FOMC took it well below that level. It has bounced back above 98.00 though. I have noticed that in eur/usd and gbp/usd, ther e is no such bounce back which shows that technical bullish pressure on usd/jpy is really strong and the current bearish move was due to both fundamentals and technicals. Next I am now expecting it to stay above 98.00 and most probably it will go for 100.

  6. #6
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by M.J View Post
    I was expecting something close to 98.00 but FOMC took it well below that level. It has bounced back above 98.00 though. I have noticed that in eur/usd and gbp/usd, ther e is no such bounce back which shows that technical bullish pressure on usd/jpy is really strong and the current bearish move was due to both fundamentals and technicals. Next I am now expecting it to stay above 98.00 and most probably it will go for 100.
    yesterday was a dam good day to get into this pair, too bad I missed it. How about you guys?

  7. #7
    Veteran Member hchandra's Avatar
    Miss the trade, but its really good level to enter,
    I think US dollar index also at good level at weekly chart, at daily chart it made lower low though,
    This time, it seems USD/JPY will continue bullish trend

  8. #8
    Legendry Member milos's Avatar
    Japanese yen has strengthened against slightly against the the US dollar after the speech of the Governor of the Bank of Japan Haruhiko Kuroda.

    Forex pair USDJPY consolidated 99.26. Support is likely to test at 97.98 and resistance at 99.98.

  9. #9
    Veteran Member Ammeo's Avatar
    Quote Originally Posted by M.J View Post
    I was expecting something close to 98.00 but FOMC took it well below that level. It has bounced back above 98.00 though. I have noticed that in eur/usd and gbp/usd, ther e is no such bounce back which shows that technical bullish pressure on usd/jpy is really strong and the current bearish move was due to both fundamentals and technicals. Next I am now expecting it to stay above 98.00 and most probably it will go for 100.
    I agree, it will be making 100 soon, USD/JPY is a kind of pair which makes a 100 whether it goes above it or below it bt 100 is the price around which it whirls a lot..

  10. #10
    M.J
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    Quote Originally Posted by Ammeo View Post
    I agree, it will be making 100 soon, USD/JPY is a kind of pair which makes a 100 whether it goes above it or below it bt 100 is the price around which it whirls a lot..
    Yes it has already crossed 99.50 and 100 looks highly probable now. But it may move sideways or slightly bearish on Monday.

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