USDJPY Forecast and Trade setup for the week ending 4th July, 2014
- Take note of the H1 Trend Filter chart
Daily Chart
- Yesterday closed at the support, and will be looking to see if there is any bullish price action reaction from it (on the 1 Hourly we have bullish signals)
- Note the USDJPY is one of the weaker ones today compared to other yen crosses. This is due to the fact that the us dollar index has fallen through major support today.
Hourly Chart
- Interesting scenario here where Daily and H4 is all pointing bearish indicators, however H1 just past few hours managed to be in a bullish territory according to the table below
- possible bullish setup at a support zone
Trend Filter
|
Daily
|
H4
|
H1
|
3 MA Cross
|
Bearish
|
Bearish
|
30/50 crossed to bullish
|
30SMA
|
Below
|
Below
|
Above
|
50SMA
|
Below
|
Below
|
Above
|
100SMA
|
Below
|
Below
|
Above
|
Ichimoku
|
Bearish
|
Bearish
|
Broke above the bearish clouds
(Bullish signal)
|
SCORE
|
5/5
Bearish
|
5/5
Bearish
|
ALL Bullish SIgnals
|
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