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USD/JPY long setup

On a daily chart we can see that price is trading around Kijun Sen which is definitely an area of support for this pair.
On H4 chart it is also obvious that we have a strong uptrend. Price went through the 120 level, reached almost 122 and then came back to 118. I personally think that from here we have a good chance to go long. Perhaps price will drop on market open or soon afterwards, perhaps it will take out lows below the recent swing low. Also it is possible that pair will go straight back…
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USD/JPY long setup

We saw a sharp break through supporting trendline followed by a sharp price return back above it. This is looking too good! Potentially I would target recent high at 1.22, next target would be major high at around 1.24 and finally 1.2500. SL below the low of the H4 bar or look for a better entry by scaling to a lower time frame.
There is no reason ( fundamental ) that would justify this sudden drop, it doesn't look like a beginning of a reversal, more like a short term correction. Price acti…
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Possible scenarios for USD/JPY in long term

JPY crosses have always been one of my favorites. Exception is USD/JPY as it is less volatile, though on higher time frames such as daily and weekly there is relatively good price movement. After an impressive bullish trend which lasted more than 6 months pair finally consolidated forming symmetrical triangle. Then it broke higher signaling potential trend continuation, it even made new high. However this breakout was stopped at 105.00 level. Notice that on the monthly chart this whole move stil…
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USD/JPY Long term outlook

Pair has been trading in a strong bullish trend for a past few months. It has stopped now at a major long term resistance level of 101.3 - 101.6 It is also a very significant psychological level - 100.00. Although bulls managed to push the price above this important level the game is still not over. After a strong rally consolidation took place and symmetrical triangle continuation pattern was formed. Price broke out of this pattern suggesting yen weakness to continue. A new higher high was mad…
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