Brief EW analysis of the Nikkei index suggests we're at the top, or close to it.
As per my USDJPY/Nikkei chart, the area above is a very strong quarterly chart resistance.
A move above 23155 would invalidate this scenario, making wave 3 the smallest.
Just something to keep in mind.
Good luck!
We have an interesting scenario here, with the possibility of Nikkei topping, and the Euro on the verge of being devaluated by the ECB's monetary policy.
The setup offers a great risk/reward ratio, so I wouldn't hesitate to take it.
Target is the AB=CD completion from the top to the current sideways range, but it will probably offer plenty of shorter term...
Simple trade setting up after a week's advance.
Entry under the weekly low and at 95.051.
Shout out to jangseohee and justatrader, who are already on this trade.
Good luck to us all!
We have a nice short opportunity in these charts.
It's more evident in the case of USDJPY which offers a clear target and invalidation level.
In the case of the Nikkei, it's at the level of a long term resistance, and showing a painful advance, not something I'd consider bullish in my view, and to make things worse, the highest low has been taken out by a down...
Correction started, as expected.
We now have a bearish target in sight: 19184 by April 27th.
This level and date will be a potential retracement area, or reversal, depending on how price action evolves.
Considering the scale of the uptrend, I don't think this correction will end there, but we'll see.
Better expand as we move forward.
I am short GBPJPY, and...
Similarly to GBPJPY, USDJPY seems to have topped after moving past the vix spike 75% retrace support level.
On the daily chart we can observe bearish rgmov signals and on the weekly we can see that price has gone under 123, and failed to produce new highs after testing a quarterly range expansion bar's 50% level.
It seems like this is the start of a strong bear...
USDJPY reentered 1st standard deviation from weekly (120-h) mean after a sharp drop earlier this week
In my previous chart I also mentioned that USDJPY held long term levels (see related)
Price is now likely to tag the weekly mean, as it moves into usual lateral range
USDJPY is also supported by BOJ, continuing its extensive monetary stimulus
Traders can take...
USDJPY testing the vixfix spike support, where smart money drove price up after a panic drop.
Rgmov is in an uptrend, this might be a large rally!
Buying here, stop at the downtrend signal target, matches 1 atr nicely.
Props to Nick Coulby for showing me the setup.
Good luck!
The proof is in the pudding, well it is in the globalized failing of quantitative easing.
Abeconomics is no different. Japan Prime Minister Shinzo Abe will continue to feel pressure as his "three arrows" economic policy fails to push consistent economic expansion.
Japan's economy shrank 1.6 percent on an annualized basis with falling exports and contracting...
Analysis on chart, this is an update to my previous GBPJPY time at mode weekly chart.
Interesting level to go long if offered with a fill.
Entering with 0.5% and letting it ride.
This might form a significant topping patten, as labeled on chart...highly remarkable top if it does (which would match a deep retracement in the S&P500).
Good luck,
Ivan.
The dollar-yen has been able to recover a sizable portion of yesterday’s ensanguine price action, following the dollar’s rejection from key technical resistance. Support for USDJPY remains clear with the Federal Reserve’s promise to hike rates, supposedly, sometime this year.
With the Fed keeping traders guessing, the dollar remains in an upward trend as the...
Time at mode weekly analysis of the advance since the low in 2012.
Price has already tested once the most frequent price since 1991, and fell instantly, but now rebounded and is heading up again.
There is an active monthly uptrend, but the price target has already been exceeded.
It would seem as if this is a topping formation, and even if temporary, the decline...
This pair is flashing an inminent buy signal.
If you look closely, the 1h chart shows an incipient uptrend, moving in impulsive fashion, and 4h and daily show price found support at a previous range expansion zone.
I'll be looking to go long on a retracement to 100.035 with a stop under the recent low, target is the weekly uptrend's target.
Good luck,
Ivan.
Yesterday, Ashraf Laidi put out an interesting post on the USDJPY and a 40-month cycle.
From April 1995 to August 1998, the pair rose just over 85 percent. In brief, in the mid-90s, the US were raising interest rates (who does that anymore? Psh), which made the dollar stronger following the recession of 1990.
The Japanese yen was devalued, too, as their asset...
Dollar bulls may be few and far between, as a potential rate hike has now become a "buy the anticipation, sell the rumor" play. Even the most hardcore bulls like Marc Chandler has taken a step back to rethink the dollar.
After making a series of lower highs and lower lows, the dollar could very well test the lows near 93; while a series of resistance levels...
Simple setup, initiate a short when the support is breached.
We have a very strong decline after completing what looks like an expanding ending diagonal triangle in the 4h/daily charts.
If price moves below the support level outlined in the chart, it will accelerate down, probably moving 430+ pips to the downside.
As a bonus, crude oil seems to be moving up, while...
Analysis on chart, this is an update to my previous 4h chart.
I'm long and will be adding on retracements until we hit the target.
My stop is under 133.
Good luck,
Ivan.
Similarly to EURNZD and EURAUD, EURJPY exhibits some bullish characteristics.
I won't waste time with a huge writeup, the analysis is on the chart.
Feel free to comment, and if you agree, hit like ;)
Good luck,
Ivan.
