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Recently took a short off the 114.50 handle on this pair and covered in to the 112.00 handle.
114.50 is a huge resistance area and has capped price since 2017. I do believe that if the US equity market stabilizes around its 200DMA and makes a new ATH, USDJPY will break the 114.00 area.
With US10Y yields rising, US rate differential with JPY at 2.35% and on track ...
Given the recent weakness for the USD we believe this may just be a retracement, looks like Buyers are still lurking at around the 111.500 area and ready to add strength to take price further possibly overcoming the sellers remaining at the 112.550 area and carry on further to reach the recent highs of around 114.00
USD/JPY could be on its way towards 112.600. 20 & 50MA actually look like we could spike towards them region, but I am going against this and as the trend shows we could be heading towards this zone once again.
USDJPY offers a good opportunity to go Long and here are the reasons that support it.
First I review USD markets.
US 10 years Yields has been depreciating all the way since 1997 until Brexit where it bounced and just in 2018 it appreciated from 2.412 (1 Jan) to 3.24 about 35%.
In the chart above see how US10Y after 7 ...
The USDJPY pair is extending gains on Tuesday with the price has refreshed a one-month high of 113.44 before a partial retracement. The risk-on sentiment is prevailing in the global financial markets, which caps the safe haven yen demand.
Investors are rather cautious ahead of midterm elections in the US. The base case scenario implies that Republicans ...
Price has finally broken out of the recent 2-week range, following a false break of support.
The buyers stepped in very strongly, breaking and closing above resistance at 112.886.
Price has now retraced some, and is retesting former resistance which I now expect to act as support. There is almost confluence with the 38.2% Fib level. I am watching for bullish ...
Break and retest
Don't risk what you cant afford to lose. I am loaded so I can afford to lose a heap of Dosh.
USDJPY refreshed three-week high of 113.33 on Wednesday and stays above 113.00 due to a combination of a generally stronger dollar, dovish Bank of Japan, and risk-on sentiment.
As expected, the Japanese central bank left its monetary policy unchanged and reiterated that rated will remain ultralow for an extended period. The regulator has also said that risks ...
Pivot and Mondays low breakdown, if it holds we'll see run on lows.
Follow for daily FX and Crypto ideas
MUST find bullish price action above Mondays High to show support is found.
Target 1 displayed, however EURGBP could likely reach higher targets so
scaling out of position always a good idea.
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=112.15.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=112.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of ...
Recently seen risk aversion in the market with US equities almost 9% off the recent peak (SP), US 10 year yields off the highs from 3.25% as low as 3.11% where there is near term support, Traditional high yielding FX (AUD lower, NZD lower, EUR lower, GBP lower), WTI crude 14% off recent peak and safe haven flows lifting JPY, gold, silver and US bonds.
We're now ...
UsdJpy - Daily and H4 - Price landed into a demand area on daily chart and so far holding up good combined with dollar strength suggests this pair should move on higher.
The market optimism over the Chinese officials’ comments on stimulus has evaporated on Tuesday and gave way to renewed political fears. As a result, the risk-off sentiment is driving stock markets lower, while the Japanese yen safe-haven demand has surged significantly.
The US-Saudi tensions, Italian budget issues, Brexit woes and trade-war fears propel the ...
If you scroll out on the Macro you will see this is in a huge range. However, there are a number of small ranges within the range.
There was a bounce at 112.03 support with a strong buy candle on daily having form. I am then going to wait until the candle breaks fridays high, and then enter. stop will be below the support and TP will be at top of range 114.20
The primary pattern in USDJPY is the large Symmetrical Triangle, formed from the 2015 highs and 2016 lows.
We have since broken to the upside, to form a secondary Ascending Triangle, which is bullish.
If price couldn't rally to test the prior highs in the 114 area, my medium-term bias would have been neutral. But the fact that price has rallied to this level ...
For the swingers forex traders among us, I marked the next key levels for sell position opportunity. The USDJPY 0.30% is bearish at the moment and it seems price gonna stay bearish until he will reach the support zone at the bottom. above there is a great supply for sell position as a Continuation trade, if the price will reach that level I'll sell there, my ...
afetr a nice pull back at 38.2 i see price going back down following it's initial momentum from when it started to sell around 114