Master the IBWT pattern

Want

Get it now (risk-free)

8 patterns that make up 98% of my PA income

Get it now (risk-free)

Learn the Scalping Secrets

Get it now (risk-free)

Read on Mobile Enter Reading Mode

USDJPY Trading Analysis

Posted on Oct 11th, 2017

by colibritrader

USDJPY Trading Analysis

by: Colibri Trader

Dear all,

Yesterday I wrote about Germany 30 (DAX). Today I spotted a bullish formation on the intraday charts, which reaffirmed by bullish stance from the Daily chart.

I did open a long position after a pinbar formed on the 4 hour chart. As you can see from the screenshot below, the mood has continued to be bullish.
I will monitor price action tomorrow and wait to see if the bullish mood is kept throughout the day.

The daily timeframe is looking bullish, too. I started the analysis yesterday by the daily chart. Today, there is a bearish rejection- pinbar that formed.

USDJPY Trading Analysis

Today’s trading analysis is coming from USDJPY. I have not covered this pair in a while. It seems like another bullish formation is on the way.

The daily chart yesterday printed a bearish rejection. Today, the candle the same- a pinbar.

To top it all up, today’s candle is inside yesterday’s candle. This gives me further conviction that tomorrow might be another bullish day.

The intraday price action is showing bullish signs, as well. There is a bullish engulfing pattern on the 4 hour chart. I will be monitoring the price and waiting for a price confirmation that I can act upon.

If I open a long position, my first target would be the level of 133.50. Then, it will really come down to price action again.

Happy Trading,

Colibri Trader

Check out this article about the relationship between Dow Jones and USDJPY

or see how I trade with Support & Resistance

(Visited 375 time, 1 visit today)

2 thoughts on “USDJPY Trading Analysis”

Juri says:

October 15, 2017 at 8:37 pm

For me Look s USDJPY like a big SKS Formation.

Reply
1. colibritrader says:
  
  October 19, 2017 at 6:15 pm
  
  What do you mean by SKS?
  
  Reply

Leave a Reply Cancel reply

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Colibri Trader Ltd, its employees, directors or fellow members. Futures, FOREX, CFDs, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures, FOREX and CFDs markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd's, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.