{"id":12403,"date":"2022-08-29T08:51:15","date_gmt":"2022-08-29T08:51:15","guid":{"rendered":"https:\/\/tradingshot.com\/?p=12403"},"modified":"2023-05-12T08:53:12","modified_gmt":"2023-05-12T08:53:12","slug":"usdjpy-is-close-to-making-a-long-term-top","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/08\/29\/usdjpy-is-close-to-making-a-long-term-top\/","title":{"rendered":"USDJPY is close to making a long-term top"},"content":{"rendered":"

 <\/p>\n

The USDJPY pair has been on a very aggressive (turned into parabolic) rise since the 2021 Low. It has been above the 1W MA50 (blue trend-line) and the 1W MA200 (orange trend-line) for the whole year. In the past 30 days it broke below the 1D MA50 (red trend-line) but recovered all the losses quickly and is testing the July High.<\/p>\n

On this 1W time-frame, the RSI has been on Lower Highs since May 02 and the MACD on a Bearish Cross since July 25. We have seen those formations taking place at the exact same order another 3 times since March 2013.<\/p>\n

As you see on the chart, that created at least a Triangle and high volatility that reached (or traded very close to) the 1W MA50. In June 2015, the eventual peak took place a little after those formations, on the 1.5 Fibonacci extension. What this shows though that short-term traders can at least sell towards the 1D MA50 and use it as a pivot and long-term traders average sell positions, targeting the 1S MA50.<\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/USDJPY\/aNwKL0Zl-USDJPY-is-close-to-making-a-long-term-top<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  The USDJPY pair has been on a very aggressive (turned into parabolic) rise since the 2021 Low. It has been above the 1W MA50 (blue trend-line) and the 1W MA200 (orange trend-line) for the whole year. In the past 30 days it broke below the 1D MA50 (red trend-line) but recovered all the losses<\/p>\n","protected":false},"author":611,"featured_media":12404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1637],"tags":[],"class_list":["post-12403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=12403"}],"version-history":[{"count":2,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12403\/revisions"}],"predecessor-version":[{"id":12406,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12403\/revisions\/12406"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/12404"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=12403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=12403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=12403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}