Day trade
Trade view / 12 July 2016 at 6:08 GMT

USDJPY signals switch on - for a time

partner and technical analyst / 3 c analysis
United Kingdom

Trends of lower weekly and daily highs have been broken for USDJPY and investors buying the market above 100.00 the Fig for sentiment to rally by 2 ¼ Big Figs on Monday, the second most bullish day for sentiment so far this year.

The bounce is signalled as being corrective, but signals for Tuesday continue to point to buying dips - temporarily.

Management and risk description

As above.


Entry: Buy the dip at 102.49, just above today's low in Asia.

101.68, Monday's Marabuzo line.

103.40, July's high and 103.85, a 62% recovery to the losses posted since the last three-week high.

Time horizon:
Today only.


USDJPY 8 hourly - recovery to losses

USDJPY Weekly - buyers at 100.00

USDJPY Quarterly - lower highs
— Edited by Adam Courtenay

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12 July
Vakas Vakas
how about selling the usdjpy pair near 103.74? i know right now usdjpy is attracting buyers because of the Abe's announcement for further stimulus, but if you look at the bigger picture the trend is towards the south right now. we have trendline resistance and 61% Fibonacci resistance at 103.74. we can target 102.50 and 101.60. with a stop above 104.00??
12 July
Steve Lucas Steve Lucas
i agree with the view that the rally may be a temporary correction - but how about waiting for the train to run out of steam before standing in front of it and sell when it turns lower - you may miss the 1st station, but getting on at the 2nd stop for a longer journey would make more sense.
12 July
Steve Lucas Steve Lucas
take some early profit here above 103.60 and raise the stop to the entry point.
12 July
Vakas Vakas
so you're expecting it to go beyond 103.74?


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