I am now shorting the EURJPY FX currency pair based on the 4hr and 1hr timeframe analysis. Confluences for taking this trade are as follows:
- 4hr lower high
- Multiple rejections of 0.618 Fibonacci Retracement level
- 1hr bullish trendline broken with lower high
- Daily timeframe showing tweezer top formation
I have placed a conservative stop loss which is 50...
Very strong bullish move on this pair last week and resistance has been met. I believe this pair has run out of steam and a correction is needed hence my personal bias on this pair is short to the shown level for the time being.
USD/JPY bull trend by keeping the market above the 112.50.
USD/JPY is trading above all simple moving averages (SMA) which confirming the bullish trend. The market is also trading above the bull trendline, if bull run remains above 112.50 the next objective is 113.18, July high. However failure to break above the July high (113.18) this can lead to a reversal...
We're looking for a huge push tonight when the eco data is released, if as expected JPY should weaken massively at 1:50GMT while the USD is pushing for the bullish momentum once more. This should be enough to break the 110.370 resistance area.
- bullish cypher pattern
- bullish bat pattern
- not entered as of yet as I'm waiting for a 4hr candle confirmation
- expecting a strong retrace to the 618 fib set from the cypher pattern D leg
- will trail my stop once its in motion
- RSI oversold
- ASL will be 40 pips
USD/JPY had been growing since Tuesday before it settled above the 112.00 level. One of the reasons for the recovery, apart from the approval of the tax cut bill, was a technical correction.
But today we see another decline. As usual, USD lost some points due to weaker Treasury yields. But, also, the market is now concentrated on the Fed’s monetary policy path...
D. Trump announced a new round of financial sanctions against North Korea on Thursday. And the «hermit kingdom» wasted little time in responding. The leader of North Korea can’t help but bothering markets. This time the menace is quite serious since we may be talking about hydrogen bomb test in Pacific.
It’s obvious that the traders’ attention is now far from FOMC...
Asian markets are closed due to Respect for the Aged Day celebration. Anyways, USD/JPY managed to show quite an impressive rise ahead of the London opening.
Geopolitical risks don’t seem to bother the markets anymore which supported the demand for the riskier USD and pushed USD/JPY up to 111.42 high.
The pair is poised to refresh July, 27 highs at 111.70. It looks...
North Korean “Foundation Day” holidays have not brought havoc to the markets. Investors feared that Kim Jong-un could launch an attack or provocative missile test On September,9 in a symbolic show of force against South Korea, Japan and America.
And these fears supported the demand on safe heavens, pushing USDJPY down to 10-month low at 107.31. However, nothing...
What happened to USDJPY? It broke strong support around 109.00 and slid to 4-month low at 108.60.
And now look at 10-year yields that hit 2.17% beating a double bottom at Thursday’s low and the August, 11 low, standing at 2.18%.The bond market is hinting it doesn’t trust Fed, and doesn’t believe in tightening.
Meanwhile, gold reached $1,300.77, again confirming...