Categories: Forex Education

USDJPY getting ready to plunge?

I believe this pair is going lower. It has all technical reasons to do so and i’m now closely following it. Weekly chart is under bearish pressure because of the bearish divergence which is a pretty strong confirmation. My plan is to follow the pair on the intra-day charts for an enty. Here it is:

Technical Analysis:
W1 – Bearish divergence

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H4 – Potential double wave down

H1 – Double wave down completed

Entry:
M15 – Follow the M15 chart for a double wave up close to 123.30 – 123.60 zone. From this zone look for sell opportunities versus the last high around 124.50
Target 1: 122.70
Target 2: 121.60
Stop Loss: above 124.50

Video Explanation:

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.