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Usdjpyshortsetup

USDJPY Short at Fib Retracement & Broken StructureUSDJPY broken ascending channel and formed a massive weekly bearish engulfing candle. Price now retraced to 38.2% fib level and previous structure. It is a good place to short with 1st TP @ 107.80. If the price further retraces to 50% fib level, 50 DMA and ascending line of the channel bottom, this will give even a better level to add to the short position. Historically January is one of the worst months for USDJPY. The pair has dropped over 300 pips early January since 2013. With US-IRan tension and weak USD, a big move lower can't be ruled out. Also, NFP on Friday, hence leaving a bit room for the pair to fall. PS. Trade with care and manage your risk
Short
by EZ_Trading786
USDJPY H1 ANALYSISHey traders, This a potential setup forming on the USDJPY H1 Charts. i have my red trend line drawn which was previously broken. Looks like price is now coming back up to retest it. Price action wise - we currently have a pinbar, but we must wait for the hour to close before deciding. If price can maintain the pinbar or form a strong bearish close, then that would be the signal to go short. On the MACD we see that bullish momentum is also running out as the bar sizes are decreasing. This is also the 50% fib level from the previous daily high last Wednesday. Daily trade analysis and ideas: Telegram: t.me Facebook: www.facebook.com Twitter: forex_dojo Instagram: www.instagram.com Website: www.forexshinobi.com Tiktok: @forexshinobi ForexShinobi
Short
by FXShinobi
USDJPY Short 140 pipsHello Traders, A major move to the downside was seen in USDJPY breaking the swing uptrend line and a key support. Downwards momentum has been developed, thus a short position was entered with 100 pips stop loss just around the previous swing high and a 140 pips profit target just around a previously identified key level. However, NFP data will be released later this day due to being first Friday of the month, and thus position size should be properly managed as the market can go both ways (in which we can't predict). Have a lovely day! Riverfront Capital
Short
by riverfrontcapital
USDJPY D1 ANALYSIS - GIGANTIC BEARISH PINBARHey traders, As you can see today, USDJPY closed with a big bearish pinbar. Price has reacted to this level 4 times in recent times, with price rejecting this level every time. Technical analysis wise this looks like a potential double top chart formation. On the MACD we also have bearish cross about to occur. Simple price action, technical analysis and S/R leads to simple profits. Daily trade analysis and ideas: Telegram: t.me Facebook: www.facebook.com Twitter: forex_dojo Instagram: www.instagram.com Website: www.forexshinobi.com Tiktok: @forexshinobi ForexShinobi
Short
by FXShinobi