Pair: 
USDJPY
Timeframe: H4 - Medium Term (MT)
Direction: Short
Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames
- Price action may face some resistance from a previous support line
- Price is close to 61.8% Fib Extension Level
- Aiming for the 32.8% Fibo Retracement with 23.6% as the TP 1 level
Fundamental Confluences for Trade:
- Dividend repatriation season for Japan where MNCs bring back USD dividends and converts them to JPY
- These levels may see BOJ intervening to stop the Yen weakness
- Yield differential between USA and Japan cannot be denied and dovish BOJ doesn't help much; hence the weak JPY unless we see a firmer BOJ
- Further war escalation from the Israel-Iran tension may bring on risk-off moves and see the JPY strengthen
Suggested Trade:
Entry @ Area of Interest 154.00 - 155.15
SL @ 156.56
TP 1 @ 151.30 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 149.27
Risk-to-Reward @ Approx. 3.03 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
USDJPY Timeframe: H4 - Medium Term (MT)
Direction: Short
Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames
- Price action may face some resistance from a previous support line
- Price is close to 61.8% Fib Extension Level
- Aiming for the 32.8% Fibo Retracement with 23.6% as the TP 1 level
Fundamental Confluences for Trade:
- Dividend repatriation season for Japan where MNCs bring back USD dividends and converts them to JPY
- These levels may see BOJ intervening to stop the Yen weakness
- Yield differential between USA and Japan cannot be denied and dovish BOJ doesn't help much; hence the weak JPY unless we see a firmer BOJ
- Further war escalation from the Israel-Iran tension may bring on risk-off moves and see the JPY strengthen
Suggested Trade:
Entry @ Area of Interest 154.00 - 155.15
SL @ 156.56
TP 1 @ 151.30 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 149.27
Risk-to-Reward @ Approx. 3.03 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
Trade geschlossen: Stop wurde erreicht
BOJ didn't intervene and the JPY continued it's weakening trend.Cut the position to protect capital. Live to fight another day.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any trade decisions taken based on the above opinion is purely at your own risks. DYOR.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any trade decisions taken based on the above opinion is purely at your own risks. DYOR.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.