USDJPY looking to continue its trend

USDJPY (90.04)

USDJPY seems to have settled in a nice downward trend and it seems to stay that way and currently USDJPY has taken some very good retrace and mostly trades will be aiming to sell USDJPY around 90.35 level for a nice dip towards 89.25 level. Break of 89.5 level will set 88.35 as next target for USDJPY. RSI was a little bit on the lower side but the retracement has opened up RSI enough for USDJPY to take a comfortable dip below 89.50 level.

TRADE:

 

Sell USDJPY @ 90.35 for Profit Level @ 89.25 with Stop @ 91.20

DAILY CHART:

USDJPY taking retrace

USDJPY: (89.04)

USDJPY is looking to take some retrace towards 89.20 level and from there it might look to resume. The retracement can extend towards 89.85 level as well but the overall scenario still looks good for selling. Traders will look to sell USDJPY initially just above 89.00 level. The trade might be aimed at staying for couple of days as the dip is also not expected to be too much quick.

TRADE:

Sell USDJPY @ 89.20 for Profit Level @ 87.90 with Stop @ 90.20

Testing level for USDJPY

USDJPY: (90.85)

USDJPY is gathering momentum into its upward trend and is approaching and important resistance at 91.05 level. This a good resistance in weekly charts are well. Also if we see the downward channel of USDJPY, we will see that the same level almost is the top of that channel so it will be a testing one. We might see USDJPY taking a dip from that level so aggressive traders might look to sell USDJPY based on that observation.

If USDJPY managed to break 91.05 level, then the next resistance will be around 91.75 level and also USDJPY will confirm the long-term upward trend. And some traders might look to buy USDJPY on break of 91.05 level. Conservative traders will like to hold back till USDJPY makes it moves and then enter the market with the trend.

USDJPY taking a breather before resuming its downwards trend

USDJPY: (90.29)

USDJPY is taking some retracement at the moment and it seems to be setting itself up for a nice extended dip towards 88.50 level and mostly traders will look to sell USDJPY on decent levels to capture the move. Currently a good selling level can be seen just around 90.55 level and we might see USDJPY touching that level couple of times before taking a dip towards 89.00 level. If the upward move is extended above 91.00 level, then a good weekly resistance is present at 91.05 and sell USDJPY for a second entry around that level can be a good option for a bit aggressive traders.

TRADE:

Sell USDJPY @ 90.55 and Sell again (if required) at 91.05 for Profit Level @ 89.30 with Stop @ 91.40 level. Profit target can be extended to 88.30

   

USDJPY setting itself for a dip towards 89.30

USDJPY: (90.21)

USDJPY is setting itself for a very nice dip. Although it did took some dips and recovered back during last few days but still it seems to set itself up for a very nice dip towards 89.30 level. Initially anything above 90.35 level seems a good sell and if USDJPY extended its upward move, then a very good long-term sell can be seen around 91.00 level. USDJPY will initially look to dip towards 89.30 level, break of which will set 88.65 as next target level.

TRADE:

Sell USDJPY @ 90.35 and Sell again (if required) at 91.05 for Profit Level @ 89.30 with Stop @ 91.40 level. Profit target can be extended to 88.65 

USDJPY heading towards 91.75

USDJPY: (91.13)

USDJPY seems to be heading towards 91.75 level at the moment and from there we might see its resuming downward move. If USDJPY manages to break above 91.75 level, we might see USDJPY heading towards 93.00 level but a dip from 91.75 is expected as it is a strong resistance both in daily and weekly charts. Also retracement of USDJPY will also be completed around 92.00 level. Selling in between 91.75 and 92.10 levels seems a very good opportunity for initial targets for USDJPY should be around 90.25 level.

TRADE:

Sell USDJPY @ 91.75 for Profit Level @ 90.25 with Stop @ 92.50