As expected USDJPY has retraced from long-term resistance area 123.80 down to static support line 120.30. Likely scenario is further USDJPY decline. In short-term outlook USDJPY corrects higher after bearish wave 123.48 -> 120.32, potential reversal points are - 121.20, current resistance from 08.Dec local highs; -121.53, static line, 38.2% Fibo correction level...
This trade would be a perfect options trade (not binary) price can reach 2400 level. Looks like the 5th impulse wave is in play with price breaching and retesting the downward trend line at 61.8%. If price does reach 2400 we can then expect a corrective wave structure to downside of 1500. However, this would be re analysed. If price breaks below 1800 we can see...
Nikkei is consolidating forming a bell curve, if you look at the profile shape from the low. The weekly downtrend that fired in August has now expired, which means there's a possibility that price goes up to retest the downtrend mode. I see this as improbable and would suggest looking for shorts once the targets on chart are hit, or the low volume resistance zones...
EUR/JPY Day chart as you can see it has recently been bearish and had a retest of the trendlines and the resistance level at 136.614. After testing this resistance levels it failed to break and continued to be a bearish trend. From the resistance trendline there has been lower highs forming indicating that it is actually a downtrend, there should be a retest of...
I'm still bullish on the Japan. QE /made in #Kuroda/ pushes indexes higher and higher. Rumor has it the new QE in October /after FED #ratehike??/. thepatternsite.com
It could be said that it is slightly strange that the Euro isn't weaker. As of writing, EURUSD is trading at 1.1040 after seeing lows of 1.0458 back in February 2015. From March last year until February this year, EURUSD was in a very steep downtrend with a range of ~3500 pips. Since then, the pair has remained relatively stagnant, after seeing a bounce off of the...
Same play as i posted before on the 4hr chart but this time on a smaller timeframe. (attached in the related links) Same rationale as well as there is clear selling pressure building from the triangle/wedge pattern from the last few days. Expected price target for this play is 130.90
On the Weekly time frame we have a 61.8% retracement with lower high formation and oversold on the stochastic. As you could see on the chart price has breached and closed below the asymmetric triangle. On the opening of the market we can expect price to reach 138.800-139.000 or a straight continuation to the downside. our downside targets for this week are...
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...
Fundamentals: - BOJ has not express additional stimulus despite pressure from other central banks - A weaker USD due to economic data Technically: - Yen and Nikkei at 2015 high so pullback is healthy - 4 hour is showing potential H&S formation - RSI has rooms to fall - From the breakout level, Fib of 38.2% is a healthy and viable target If Head & Shoulder...
The weak yen helped Japan January exports soar 17% vs the +11.9% estimate, up for the 5th consecutive month. Nissan Motor and Honda Motor are looking to join the action and boost export sales soon. The Japan equity ETF had been range bound between $10.60 and $12.20 until this week's upside breakout. Look for the $EWJ to complete a measured move to $13.80 later...
Simple long position based on technical support line. Fundamentals view: ECB announced their QE program today. Buying 60 billion euros worth of assets per month, 1.2 Trillions in Total. Start March 2015 presumably end in Sept. 2016. ECB says they will keep buying until Inflation rises. Normally it means long USDJPY and short EURUSD. Entry 118.26 TP1 119 TP2...
USDJPY tested a long term trendline at 121 earlier this month, and it seems likely that the pair will remain below this level up to the end of the year. Like in January 2014, I wouldn't be surprised to see stocks correct with a yen bounce to start 2015.
1D Chart: As a quick note, it is late.. i'm in canada, but wanted to wait to see what would happen over seas and as I expected we are starting to hit the peak in the market and we should start seeing a retrace kick back into play around 103.5-104. If you look on the 1H chart it looks like it has room still but we could see a sudden break in positioning.
The J6 has broken down...but is this yet another head fake? We are not in this trade and choose to sit on the side lines. If you look at the weekly chart we are technically not out of the woods. We will watch for any reversals back into the chop...they could present a retest of the upper channel. For now we watch.
Would only take a target 1 to the 38% fib level. Since the overall daily chart has a gigantic Bearish crab pattern. I've already scaled out of my short position after spotting this pattern. My overall bias on CADYEN is bearish. If we can get a rally and drop, i'll scale in another lot. let's see what happens.
Here I think it is ready for move higher vs gap pivot point at 14, 359. First target could be descending trend line then swing high at 15, 164
28/04 IMPORTANT UPDATE This is an update for my previous idea We are now correting the 5 wave adavance from the 90.60 low. The correction could have ended at 92.30 (todays low), but it could go lower towards 91.70 before more upside. It also looks like an inverted head and shoulders is in the work. As 90.60 low holds look for a rally above the 100 figure in...