Usd/Jpy Daily - Price under trend line, fib and structured resistance. Good sell opportunity for 500-600 pips. This correlated well with Usd index weakness technically.
A break down of the support level of the Nikkei index may cause a simultaneous decrease in the yen.
Two long-term downward resistance levels may be the target of the current upward movement.
CADJPY is forming very well to buy and back to uptrend on Daily/Weekly timeframes. I can see huge resistance in front of us with strong trendline which is holding for a long time. We are watching for break Trendline + Resistance, retest and then buy until 84,8 area and then higher. First tp: 84.8 area Don't forget to trade with proper RM/MM and caution Good...
Good spot to load up. 106.5 is critical for long term momentum and the bullish 50 I have mapped out of monthly. PRZ=107.150-106.450 Note vertical timeline. >110 jeopardizes the idea. See linked chart
From a technical standpoint this pattern can be considered a bearish crab but not a perfect one. Specifically the B point is not a precise 61.8 retracement. From a fundamental standpoint there is a "risk on" attitude with eur(french elections) and aud(CPI - Friday) and so the JPY is being sold. Can you infer or confirm my assumptions?
Expecting the pair to make one more corrective move and than continue the bigger move up towards 147-148.
A model of continuation of the downward trend is forming - a downward consolidation.
Japan has been in a channel since the end of 2016, after the break of a wedge formation on the 12/03/17 coupled with a SAR swap and a fall outside the Keltner further bearish movement has been expected. This was tested on the 11/04/17 as the Nikkei convincingly closed outside of the channel. Today we have had confirmation of that break out.
A break down of the support level of the Nikkei index may cause a simultaneous decrease in the yen.
Breakdown of long-term consolidation down can lead to the development of a long-term downtrend. The development of the downward trend on the index will stimulate the development of the downward trend of the yen.
Risk sentiment is supported. NZD has highest interest rate in G10.
Price has broken a key support level. Maybe is risky to sell at this moment, because RSI is overselled. Better to wait for pullback to consolidate that break and then open a short position.
10 year yields. 2.30% level has been very supportive. Breakout of the wedge will mean uptrend will continue. Fundamentally this is supported by higher term premia being demanded, and Chinese flight capital leaving the UST market. I'm long USD and will add to my positions if 10 year yields really start to move a lot higher.
General price decline on the GJ. Broke through previous key level 140 and retraced to retest 140.3 (and failed). Looking at a continued decline down to 2017 support @ around 137.
EurJpy has broken down through key level 120.55 (2017 Supp) and is continuing the downtrend from late 2016. Continual lower highs and lower lows.
We find another similar opportunity as yesterday to buy with completion of 2618. The big gartley has not yet been violated and is still a signal that adds to this case. Orders are pending, Im shooting for two targets with respect of the gartley.
We have a 2618 playing out after D completion of a Gartley seen on 4H Im shooting for 2 targets this time with conventional 0.382 fib of gartleys C-D leg in mind. Orders are pending, lets see if we get filled.