108.82 hit today as double bottom on USDJPY, this is reversal sign for USDJPY from technical analysis side. From fundamental analysis, geopolitical issue getting warm will force JPY go higher, this is bad for USDJPY coz double bottom is not stong enough to hold negative market sentiment. If this condition getting warm, VIX will increase, SPX down, gold, silver and platinum will rise as save heaven for investor.
anticipate GAP down at opening market monday, with JPY Gross Domestic Product Annualized (GDP) news forecast increase 1.5% from last report, and this report will release at sunday (before market open).
Where exactly do you recommend to put Stoploss please? I would like to avoid being thrown out of the trade because of volatility. Also isnt it safer to open this position on Monday early London session?
@DianKemala, HI Dian - I started following you on Tradingview yesterday and found that your analysis is great. Looking at the curly red arrow, does it mean we could potentially set a pending order around 109.5 with SL at 111.2 and potential target could be 107.8 (ratio around 1:1) ?
AzrulAzir
⋅
@hungbui, no its not SL. curly red arrow only down target, im not analyze open,SL and TP here. but basicly my average Rr ratio is 1:8 up to 1:20
hungbui
⋅
@DianKemala, aah I see. Thats great ratio :) looking forward to the next indication.
workforpip17
⋅
@DianKemala
Hello, I really like your analysis for all of your trades, and this particular trade does make sense. However, I don't understand the bullish key level you mentioned. Is that the level we are looking for stop loss? Thank you for all your help!
AzrulAzir
⋅
@workforpip17, bullish key level is sign for bullish. If price able to touch that point with one candle full, that is first sign for bullish. As long as bullish key level not break up, we will see USDJPY drop even more.
This bullish key level will follow market movement, and it difference level on each analysis. for more save trading setup, stoploss level above bullish key level if you short.
And in bullish analysis, stoplevel bellow bearish key level if you long.
Hope this help.
workforpip17
⋅
@DianKemala, Thank you for your explanation! I'm with you in shorting this position as I agree on your analysis for this trade. Hopefully, GDP does not disappoint. Good luck and thank you for your contribution!
seanlwq
⋅
any updates on this pair? since it broke the downwards trend
waterman
⋅
I agree with you that this pair will sink further. Also in line with Trump threat with sanction on China for IT misuse, on Monday