After price broke structure with momentum, it gradually retraced back towards a demand zone that it left behind during the expansion. It then started to consolidate, forming liquidity right above this demand, which could fuel price's expansion to the upside after imbalance has been filled and the demand has been mitigated. Due to price being in a bullish trend,...
The USD/JPY pair remains under selling pressure for the fourth consecutive day, reaching its lowest point since October 4 during the Asian trading session on Tuesday. However, the spot price has slightly rebounded in the past few hours and is trading around the 148.00 level. USD/JPY continues to trade near its lowest level in six weeks, extending losses to around...
Japan's GDP for Q3 2023 has absolutely crashed by -2.1%. After a very good Q1 & Q2 growth, the markets & economy caught onto what was really happening. They unloaded the magical money printer… They printed out a ton of new money to prop up their economy. This has been exposed by their consumer spending collapsing. With inflation high, consumers have less to...
NZDJPY - 24h expiry The correction lower is assessed as being complete. Further upside is expected. Risk/Reward would be poor to call a buy from current levels. Momentum is flat, highlighting the lack of clear direction. A move through 89.50 will confirm the bullish momentum. We look to Buy at 89.00 (stop at 88.60) Our profit targets will be 90.00 and...
In Karate, offense is the best form of defence. The BoJ knows it. Japan faces a raft of economic headwinds which shows up in Yen’s performance. The BoJ intervened strongly last year to support the currency when it skirted around current levels. Yen is hovering at those levels again. BoJ is anticipated to act. Such interventions typically mark the bottom. This...
After price broke our daily high with momentum,it began to gradually retrace back into an internal structure demand that caused the break of this high. It tapped it,luring in early buyers before it smashed through it with momentum. This signaled a potential shift of internal structure direction as the demand zone was invalidated. We get more confirmation from...
Looks like USDJPY has broken down through the rising trendline, there was a slight recovery at the backend of Friday, this indicates we could see a short retracement from here to test the trendline break, and then down. The Yen performed well at the start of Friday, I don't believe this was BoJ intervention, as they have said that they expect the fundamentals to...
USD JPY in a bearish range as it was from Thursday we created our swing low and confirmed our swim pines we're now waiting for every sweep of the swing high for continuations down or a break out of this range lower which we can then continue to follow into this new bearish range. Remember to always read order flow and follow what price is showing you instead of...
USDJPY started to fall rapidly. Here are the important key levels to watch. Vertical Structures Vertical Resistance 1: Broken rising trend line Horizontal Structures: Support 1: 148.75 - 149.21 area Support 2: 148.15 - 148.50 area Support 3: 147.41 - 147.56 area Resistance 1: 150.05 - 150.38 area Resistance 2: 151.71 - 151.94 area Consider these...
Similarly to around the same time last year when USDJPY was at these levels, it had developed a 3 Line Strike at the PCZ of a Bearish Harmonic, and if it goes like last year, this will result in at least a few months of downside on this pairing. There is also some Bearish Divergence formed on the RSI at this level. Additionally, there is a much bigger Macro...
AUDJPY broke and closed above a solid horizontal daily resistance. After a breakout, the price formed a bullish flag pattern on an hourly time frame. Its resistance breakout after a retest of a broken structure is a strong bullish confirmation. I anticipate growth now to 98,2 ❤️Please, support my work with like, thank you!❤️
The USD/JPY pair regains positive momentum, partially reversing significant losses from the previous day, returning to the 150.15 zone, the week's lowest level. Intraday buying activity intensified after Japan's GDP print fell below expectations, pushing the spot price to new daily highs. The USD/JPY exchange rate fluctuates around 151.70 during the Asian trading...
Euro looks set to reach new highs against the yen. Looking to stay long on this one for as the pair eyes 163.20, 164.8 ahead of NFP and other events. Eventually could make its way up to the 166.70 region if bulls keep bringin the steam.
Wait for price to close above 184 or 183.90 for confirmation to go long. Look for targets like 1. Target 1 => 186.56 2. Target 2 => 188.12 3. Target 3 => 190.14
After price broke structure to the downside with momentum, it formed liquidity at the bottom. It then retraced and formed liquidity at the top as well, just below an established supply that aligns with our golden zone. Price has just taken the top liquidity and mitigated our supply zone. It could now potentially begin to drop to take out the liquidity at the bottom as well
EURJPY - 24h expiry We are trading at overbought extremes. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. A lower correction is expected. We prefer to consider the medium term trend and expect buying interest to support as prices move lower. Further upside is expected although we prefer to buy into dips...
The NZDJPY is trading within a Channel Up pattern and is currently on the latest bullish leg towards a new Higher High. All previous waves have been at least +6.12%, so that gives us still an opportunity to buy and target 92.150. If the RSI hits 73.40 before the target, close the buy regardless, as the 73.40 Resistance has formed the September 29...