Japanese Yen Futures (Sep 2020) forum
6J1! 6J! Trade Setup: Bearish Bias with a Conditional Long OpportunityIdea Overview:
I’m leaning bearish on 6J! based on the higher-timeframe (HTF) structure, which still shows a downward trend. However, there’s a possibility we’ll see a brief push higher before that broader downside continuation.
Long Scenario:
Entry Trigger: Looking to go long if price reaches 0.0065960 and then retests 0.0065945, confirming the support.
Stop Loss: 10 points below entry for controlled risk.
Target: 0.0066060, aiming to capture the potential short-term move higher.
Short Scenario:
Expectation: Even if a minor rally occurs, I anticipate price to eventually roll over and head lower toward 0.0065900 and beyond.
Bearish Confirmation: If price rejects the 0.0065900 level and then slips below 0.0065875, I will consider this a confirmation of the downward bias.
Entry Trigger: Enter short upon price break below 0.0065875.
Stop Loss: 10 points above entry to keep risk in check.
Target: Aiming for 0.0065745 on the short side, playing the broader bearish structure.
Bottom Line:
The overarching structure remains bearish, but I’m open to a short-term long if the market shows bullish strength around 0.0065945–0.0065960. After that, I expect the larger trend to reassert itself, offering a stronger short opportunity below 0.0065875.
6J1!
6JH2025 Hey traders! 🌟 Have you been watching the yen futures on CME? There’s some serious action brewing
6J1! pullback to 0.0066295time long USDJPY pair
6J1! its time for you to Gain some power6JH2024 The targets set for the Yen on February 19th have almost been reached. The uptrend still has a small potential to reach target number 2, but after that the Yen's downtrend will most likely continue. This is supported by COT reports and activity in option portfolios, which were formed on February 29 (at the local minimum) on the CME exchange.
6JH2024 We consider a downside move as the basic scenario. However, if the price goes higher than the resistance, it is highly possible to consider a bull spread target as the main sentiment.
6JZ2023 The evaluation of option trades in contrast to the market behavior of the Yen Futures on November 28 indicates that the upward trend is ending and a correction will occur upon the price breakdown 0.006784 level
6J1! expecting Retracement. but still bullish on it. after retracement it could go higher.6JZ2023 The anticipated market movement that the buyer of an aggressive call spread expected occurred. Will the price continue to increase?
6J1! the CFD pair was the 50EMA broken, but the futures are not. the upward trend seems undecided!