USDJPY Short Term Forecast And Technical Analysis

0
84
USDJPY Short Term Forecast And Technical Analysis

Hi Traders! Today I am sharing with you my USDJPY short term forecast and technical analysis post. We do our analysis on the MetaTrader4 platform (MT4). Some very interesting, useful tips and hacks about the MT4 platform could be found here. If you would like to learn more about the way we trade and the technical analysis we use then check out the Home Trader Club Spoiler alert – free memberships are available

Explore My Free Mentorship Program

As an Internationally Certified Financial Technician (CFTe, IFTA) and former private capital hedge fund trader, I have successfully mentored numerous students who are now thriving in the trading world. Students who learned with me, are now full-time traders, work in the trading industry, run their own capital firms or are fully funded traders by private companies, develop automated trading solutions and manage others’ capitals. I am a very proud mentor and I am proud of the success stories I’ve helped create, and for a limited time, I’m offering my mentorship program for free through a partnership with Eight Cap broker. Join Eight Cap, become an active trader, and choose the offer that suits you best –

 

My Trading Strategy For HIGH Accuracy Trading

 

For more details, visit: Home Trader Club Mentorship Program

I’m excited to work with you and help you reach your desired level of success!

 

USDJPY H4(4 Hours) Chart Analysis –  Heikin Ashi Candles, Lower Lows, Two Key Resistance Zones

On the H4 chart, based on the Heikin Ashi candles we can see that currently, we have strong bearish bodies in downward moving market conditions so it basically reflects a bearish environment. In addition to this, the price which is moving lower has created lower lows based on the MACD indicator, which is another sign of gaining momentum toward the bearish side. Currently, it looks like a correction is happening. Also, while measuring the strong bearish move using the Fibonacci retracement tool, we have two key resistance zones that have formed. The first key resistance zone is formed by the 23.6%(151.934) and 38.2%(152.853) Fibonacci retracement zones. The second key resistance zone is formed by the 50%(153.596) and 61.8%(154.338) Fibonacci retracement zones. Until these two key resistance zones (marked in red) shown in the image below hold, my short-term view remains bearish here and I expect the price to move lower further.

 

USDJPY Short Term Forecast And Technical Analysis

 

Trading Tips

It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this short-term sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.

Also, don’t forget to protect your sell trade using a stop loss and make sure to set a target and keep a proper risk/reward ratio.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

Not sure how to enter a trade? Spot reversals (bounces)? Not sure how to spot breakouts?

I invite you to

JOIN HOME TRADER CLUB NOW

And improve your trading with us.

Also, you can get one of our strategies free of charge. You will find all the details here

Download our best forex indicators here

 

If you have any further questions, don’t hesitate to drop a comment below!

 

Happy Trading!

Arvinth Akash
Home Trader Club Team

Click To Join Our Community Telegram Group

Subscribe
Notify of
guest

0 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments