Hey Traders, in tomorrow's trading session we are monitoring GBPJPY for a selling opportunity around 191.250 zone, GBPJPY was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 191.250 support and resistance zone. Trade safe, Joe.
I’ll closely monitor price movements at the start of the upcoming week. If the price reacts around 99.500 FVG, I’ll be on the lookout for long positions if price makes CHoCH upside. If we dip below 98.180, I’ll consider short positions. Additionally, there are two news events scheduled for next week: Tuesday and Thursday
With the potential of the Federal Reserve lower rates and the possibility that the BOJ will increase interest rates, this could be a great trade. The BOJ has kept interest rates in the negatives for quite some time and after years and years, inflation was able to manifest itself and push the BOJ to be one of the last Central Banks of the G7 nations to increase...
Anxiety hangs heavy over the yen market. With the Japanese currency hovering near a 34-year low against the U.S. dollar, traders are wary of potential intervention from Japanese authorities. This comes as Finance Minister Shunichi Suzuki reiterated the government's concerns about the rapid depreciation of the yen. The Yen's Slide: A Perfect Storm The yen's...
Analyzing market trends and identifying potential opportunities is crucial for making informed decisions. One such opportunity currently presenting itself is the bearish setup on GBP/JPY, indicating a significant shift in momentum. As the price of GBP/JPY reached the 193.000 value, it coincided with the 78.8% Fibonacci level, marking a critical point of...
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 AUDJPY has been overall bullish, trading within the rising wedge pattern in blue. Currently, AUDJPY is in a correction phase, approaching the lower bound of the wedge. Moreover , it is retesting a strong demand in green. 🏹 Thus, the highlighted blue circle is a strong...
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 GBPJPY has been overall bullish , trading within the rising channel in blue. Currently, GBPJPY is in a correction phase, approaching the lower bound of the wedge. Moreover, it is retesting a strong support in green. 🏹 Thus, the highlighted blue circle is a strong area to...
The USDJPY pair has been trading within a Channel Up pattern since the July 14 2023 Low on the 1D MA200 (orange trend-line). Currently it is about to exhaust the 2nd Bullish Leg of this Channel as it approaches its top (Higher Highs trend-line). It begun with a Low on the 1W MA50 (red trend-line) and then a Higher Low on the 1D MA200. With the 1D RSI overbought...
CAD\JPY: in the dynamic interplay of market forces, the attempt to capitalize on a breakout at the crucial SR level was met with market resistance, leading to a downturn. Nevertheless, astute traders remained attuned to the overarching uptrend, which provided a guiding beacon amidst the fluctuations. The formation of a double bottom pattern served as a beckoning...
1. Price in Overall Uptrend Direction: This means that the general movement of the price of whatever asset or security is being discussed is moving upwards over a period of time. In other words, the value of the asset is increasing over the long term. 2. Uptrend Structure Being Maintained: This indicates that the pattern of higher highs and higher lows, which...
Attention Traders, In today's trading session, we're closely observing USDJPY, pinpointing a potential buying opportunity around the 152.900 zone. USDJPY maintains its uptrend trajectory, currently navigating a correction phase as it approaches the critical 152.900 support and resistance area. Adding depth to our analysis, let's delve into the fundamental...
CHFJPY is neutral on its 1D technical outlook (RSI = 50.785, MACD = -0.360, ADX = 31.970) as the price action is ranged between the 1D MA50 and 1D MA200. The dominant pattern is a Channel Up however and with the price rebounding on the 1D MA200 (unbroken since March 29 2023) and the 1D MACD has formed a Bullish Cross, we expect the new HH leg to start. Our target...
The Japanese Yen (JPY) has been making waves in the forex market, but not necessarily in a good way. Major JPY pairs like USDJPY, EURJPY, and AUDJPY have all found themselves in a tense standoff with resistance levels for nearly a week now. This has many traders wondering: is it time to jump in, or should we wait for a clearer signal? **The Resistance...
Still holding a buy, moved SL in profit. With the current price movement we might get stopped out. DAILY 151.90, we finally broke and closed above. We are now either waiting for the further bullish push up or the retest so we can enter on the continuation. This is the highest price UJ has been peaked at, so we know the dollar is doing quite well. 4H 152.80 gave...
AUDJPY is borderline bullish on the 1D technical outlook (RSI = 56.140, MACD = 0.500, ADX = 22.883) as today it has erased the gains of almost the past 3 days. As it approaches the 1D MA50, it is turning into a buy opportunity inside a double Channel Up pattern. At 99.000 we are turning bullish again and will aim for a +2.65% increase (TP = 101.700) for a HH. See...
The EUR/JPY pair on the M30 timeframe presents a potential buying opportunity due to the presence of a well-defined bullish channel pattern. This pattern suggests ongoing buying pressure and a higher likelihood of further gains in the coming minutes or hours. Key Points: Buy Entry: Consider entering a long position (buying) above the broken resistance level of...
The Japanese Yen finds itself in a precarious position, facing the strongest selling pressure in 17 years. Net yen shorts, a measure of bearish bets, have skyrocketed to their highest level since January 2007 . This relentless shorting comes as the Yen precariously approaches a key psychological barrier: 152 Yen per US Dollar. A Perfect Storm for the Yen...
EURJPY is rising towards a resistance level which is a pullback resistance and could reverse from tis level to our take profit Entry: 165.193 Why we like it: There is a pullback resistance level Stop loss: 165.775 Why we like it: There is a resistance which lines up with the 161.8% Fibonacci extension Take profit: 163.472 Why we like it: There is an overlap...