Japan's GDP for Q3 2023 has absolutely crashed by -2.1%. After a very good Q1 & Q2 growth, the markets & economy caught onto what was really happening. They unloaded the magical money printer… They printed out a ton of new money to prop up their economy. This has been exposed by their consumer spending collapsing. With inflation high, consumers have less to...
Having been in USDJPY for the past 3 months, the time has come for all bearish confluences to line up and for the Yen to get on the correct side of currency value with help from a dollar that is set to decline. There will be no more rate increases. America is on the edge. JPowell knows it. Not financial advice. I see a fast furious dump coming down to the 1.44 and lower
In Karate, offense is the best form of defence. The BoJ knows it. Japan faces a raft of economic headwinds which shows up in Yen’s performance. The BoJ intervened strongly last year to support the currency when it skirted around current levels. Yen is hovering at those levels again. BoJ is anticipated to act. Such interventions typically mark the bottom. This...
Today's focus: USDJPY Pattern – HL Continuation Support – 149 - 149.15 Resistance – 151.80 - 149.65 Hi, and thanks for checking out today's update. Today, we are looking at USDJPY on the daily chart. Today's video asks if USDJPY has further to fall or if we will see buyers continue to find some support from 149- 149.15. For now, price continues to trade below...
USD/JPY is rising towards a multi-swing-high resistance and could potentially reverse off this level to drop lower. Sell entry is at 151.794 which is a multi-swing-high resistance that aligns with the 61.8% Fibonacci projection level. Stop loss is at 152.570 which is a level that sits above the 78.6% Fibonacci projection and the 127.2% Fibonacci extension...
PIMCO, one of the world's leading investment management firms, has taken a significant position in buying yen, indicating their preparedness for an imminent tightening of the Bank of Japan's (BOJ) monetary policy. The BOJ has long been known for its accommodative stance, but recent economic indicators and signals from policymakers suggest a potential shift...
Looks like USDJPY has broken down through the rising trendline, there was a slight recovery at the backend of Friday, this indicates we could see a short retracement from here to test the trendline break, and then down. The Yen performed well at the start of Friday, I don't believe this was BoJ intervention, as they have said that they expect the fundamentals to...
UJ has been dropping heavily for the past few days. Still expecting another 300 PIPS drop towards our Wave IV zone, before the final bull run towards $153.300 starts📈 Upon completion of this final impulse move up, we can look to start positioning ourselves into a MULTI-YEAR downtrend. This could be 1 of a lifetime opportunity!
Similarly to around the same time last year when USDJPY was at these levels, it had developed a 3 Line Strike at the PCZ of a Bearish Harmonic, and if it goes like last year, this will result in at least a few months of downside on this pairing. There is also some Bearish Divergence formed on the RSI at this level. Additionally, there is a much bigger Macro...
USDJPY is rising towards a swing-high resistance and could potentially reverse to drop lower towards our take profit target. Entry: 151.774 Why we like it: There is a swing-high resistance that aligns with the 61.8% Fibonacci projection level Stop Loss: 152.424 Why we like it: There is a resistance level that aligns with the 127.2% Fibonacci extension...
AUDJPY could fall towards a pullback support and potentially bounce off this level to rise higher towards our take profit target. Entry: 97.506 Why we like it: There is a pullback support that aligns close to the 38.2% Fibonacci retracement level Stop Loss: 97.025 Why we like it: There is a pullback support that aligns with the 61.8% Fibonacci retracement...
Wait for price to close above 184 or 183.90 for confirmation to go long. Look for targets like 1. Target 1 => 186.56 2. Target 2 => 188.12 3. Target 3 => 190.14
We're at the top end of the range for this pair, I am expecting BoJ to start backing its currency. I've recently noticed some negative correlation between USDJPY and the other XXXJPY crosses, so where USDJPY falls the others have been more bullish. That said if the BoJ get involved it will tank all of them. I'm not 100% what I really think will happen here, I...
Looks like another rejection, could be a HL, but expecting a continuation of the retracements from here now that minor support is broken.
Yesterday, we were anticipating that the USDJPY could trade lower on further weakness of the DXY. However, as the DXY strengthened, we see the USDJPY trade higher to approach the key resistance level of 151.70. Expect to see choppy price action at this level, but the overall directional bias should see the USDJPY retest the resistance level and possibly even 152...
USDJPY is rising towards a swing-high resistance and could potentially reverse to drop lower towards our take profit target. Entry: 151.703 Why we like it: There is a swing-high resistance level Stop Loss: 152.087 Why we like it: There is a resistance level that aligns with the 100.0% Fibonacci projection level Take Profit: 150.579 Why we like it: There is an...
AUDJPY is falling towards an overlap support and could potentially bounce off this level and rise up to our take profit target. Entry: 95.779 Why we like it: There is an overlap support that aligns close to the 50.0% Fibonacci retracement level Stop Loss: 95.450 Why we like it: There is a pullback support that aligns close to the 61.8% Fibonacci retracement...
Picture this: the yen, once a mighty force in the currency market, is now presenting us with an incredible chance to capitalize on its current weakness. It's time to put on your trading hats and consider going long on the yen! Now, you might be wondering, "Why should I care about the yen's historic low?" Well, my fellow traders, let me break it down for you. A...