Here are two charts of an equally weighted JPY index. On the right I have the daily timeframe and on the left I have the 4hr timeframe. On the daily, I have marked two zones, a supply and demand zone. Price is much closer to demand than supply giving me the impression that price will have an easier time going up than down. This is setting my overall bullish...
This market is still in the pullback phase. Waiting to see what this market does at the 50% fib level
The JPY index has made a new HH. I'll be expecting a pullback towards the previously broken high
The JPY index has taken out it's support level. Now that it's out of the way, we could see a move down towards the next support level over the coming weeks and months. If so, JPY will stay weak relative to other currencies continuing the current uptrends we see across the JPY board. Looking for good quality long entries.
The first two weeks of June has been fruitful for JPY, gaining strength against it's major counterparts. Maybe the strength will continue but my Yen index has rallied to resistance with supply above. AUDJPY and NZDJPY have very nice uptrends and I'll be watching these and others for their next impulse
In 2019 we had what, at that point, seemed to be a break to the upside (Jpy pairs weakness) of a triangle. The beginning of March came with a big reversal from 100 zone resistance and Jpy index is trading now at 90 support zone. I expect this support to be broken and 2020 be dominated by Jpy weakness (JPY pairs uptrend)
Jpy looks like it could have a strong finish of 2019. The index is trading on an ascendant trend, putting in higher lows Friday candle is a pin bar and a break of 92.20 zone could expose 93.50 zone in the medium term. Strategy: Look to sell especially EurJpy, AudJpy, CadJpy and ChfJpy
The price is currently within a descending trendline where I'm expecting an upside breakout. It is also in consolidation within clear Support and Resistance levels, with the potential target being around the resistance zone. Please like/comment and follow me if you want to see more of my ideas. Good luck!
JPY approached its first support at 0.147 and could bounce to its first resistance at 0.148. Ichimoku cloud is also showing support.
JPY index is approaching its support at 0.145 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.147 (61.8% Fibonacci extension, horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support where a corresponding bounce could occur.
JPY index is approaching its resistance at 0.147(61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 0.145(61.8% Fibonacci extension ,38.2% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance where a corresponding...
JPY index is approaching our first resistance at 0.147 (61.8% Fibonacci extension,50% ibonacci retracement, horizontal swing high resistance) where it could potentially drop to its support at 0.145(horizontal swing low support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement). Trading CFDs on margin carries high risk. Losses can exceed the initial...