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USD/JPY (Short-Term-Trade) - Market Update Could we see a possible down-side for USD/JPY? Previously we have seen that price went into a small bullish trend. As you can see it didn't go too far; as it rejected our Major Trend-Line. That area was a extreme critical area as it aligned with a Major 38.6% Fibo area. What do I need for a entry? If we manage to see price closing -BELOW- our Minor Trend-Line I will be placing a -SELL- a good area of T/P would be our Weekly Support as well as our Previous -27.20% Fibo area. We have a few T/P extensions that are not shown above. Regarding a upside movement we are kinda far away from one as of right now. We would need price to close -ABOVE- our major trend-line so we can continue a upside movement. But at least for now I don't see that happening. *This is NOT a signal, for any specific pair review please send me a message or email me at TheForexClubFX@gmail.com *We also have a special promotion until the end of next week for our Advance Training that you wouldn't want to miss out!
by TheForexClubFX
Big pips either directionAs we go into the end of the month and ultimately into August, the infamous low volume month, I will be looking for two things on this pair. GBPJPY will likely get choppy but not like the rest, it can move so much more than other "normal" pairs. Pretty simple set up here: 1. Sell break of 144.90 targeting 144.00 2. Wait for a push higher and look for a break of 148.00 or rejection off that level. If 144.90 area breaks sooner than later, that should be an easy 100 pips, otherwise it turns into a bigger waiting game.
by JaredJJohnson
Rising wedge- it's almost go time!Look for quick profits here, we have a rising wedge on the hourly chart, this isn't likely to be a HUGE move but I think it'll be worth our time. Not to mention I like NZD weakness set ups on a few other pairs, namely NZDJPY and GBPNZD. Pretty simple, we have two weekly pivots that haven't been touched below with a monthly pivot anticipated around .7020 area. Look for a move of 60-80 pips here once the rising wedge breaks and price starts to print below the pattern. When this break, I'll put stops above the highs, target the 1st weekly (soon to come monthly as well) pivot and let a small portion run to the second pivot if price is cooperating.
Short
by JaredJJohnson
A quick 100 pips (HIGH PROBABILITY SET UP!)This may look like just a simple channel/trend line break out, which it is (think "no country for old men"). What makes this a great high probability set ups is the line up of multiple missed weekly pivot points. Two ways to trade this: 1. short trend line break, have 70-80 pip stops above recent highs and target weekly pivot at 1.7520. 2. OR you can trade it the same way with an adjustment to the stop, only staying in the trend if it can stay below the trend line (limits draw down but is more aggressive stop) Either way it's a great set up and should be good for 100 pips.
Short
by JaredJJohnson
Huge possibility either direction This pair is at a crossroads, there's been Euro weakness as well as Aud weakness which makes this tricky but the set up is too good to pass over. Above 1.4180 this gets slightly bullish but the real confirmation is above the larger trend line (falling wedge on daily chart). There's hundreds of pips if those highs don't hold. Below trend lines and in the circles labeled 1, 2 and 3 are great sell off points. The targets get larger each time, I'll be short and I'll take profit each time a level breaks and it reaches a new trend line/support zone. Here it is, good luck trading it either way, I think there's plenty of potential up or down.
by JaredJJohnson