I'm currently monitoring a potential pullback at the support level, anticipating the continuation of the bullish trend on the yen index. However, it's crucial to remain vigilant, as a break below the support level might indicate a potential weakening of the yen.
So...
I see 2 directions, I’m more so leaning on the sell direction yet will allow price to show.
Around 8pm CST Asian Volume starts to push a direction so that’ll be our first indication leading into London (2 AM CST).
The pairs I will be playing off this analysis is AJ and GJ.
My current analysis for those Pairs is Bullish.
Hi, dear traders and colleagues,
Let's take a look at the JPY basket and analyze its potential implications in relation to other currencies.
The Japanese Yen (JPY) has been weakening for a considerable period due to the policies implemented by the Bank of Japan (BOJ). However, given that we are now at the end of the hiking cycle in other central banks, it is...
There is a shift in Structure from 7050 level of the Yen Basket which is a good opportunity to those that trade EURJPY, AUDJPY, USDJPY, GBPJPY E.T.C. After the confirmation on H4 We can start looking for a base formation on H1 during New York Session or Asian Session.
While I am not a die-hard fan of FXCM's Yen Basket (much prefer NAFTA + Japan vs. "the World"), this index/basket is clearly working on an turn here. It is still relatively week but has likely put the worst behind it. Now, it is all about acceleration which, judging from past behavior, ought to gain significant momentum.
Again, I'd suggest to use this "basket" as...
Based on my analysis, I anticipate that the JPYBasket will react in some way when it reaches the 7804-7828 zone. There could be a variety of reasons for this, such as technical levels, market sentiment, or fundamental factors.
In any case, rather than acting impulsively, I have decided to exercise patience and observe the market until a clear opportunity presents...
Price of JPY is severely undervalued and at a discount area. We saw an attempt to fly but it was rejected. To make the final push it must mitigate structure to pick up on buy orders and fly to the moon. To support our confluences we also see a head and shoulders pattern and a trend line driving the price to its mitigation and completion of structure.
These are levels that I'll be keeping an eye on when dealing with JPYBASKET, and I'll revise as price action progresses.
I adapt to the change in money flow.
YEN INDEX, touch the support and prepare for long after CPI data, supported by yesterday BOJ announcements as the new governor of Kazuo Ueda.
The new governor declare a change in policy must be done and is know as not a supporter of ultralose policy.
After CPI data i am expected USDJPY to fall hard, targets 129/127/125 and even turn back is it hope as in next BOJ...
Hello pals, JPYbasket is a JPY index just like DXY for USD, so u can use it for confirmation on your JPY and USD involved pairs.
Based on candlesticks and DTL, I think this index is going downhill to the previous low.
8050 needs to be broken first before it can be said with certainty that the index will be bearish, but if that happens be sure to look for any good...
‼️ Imbalances are also known as inefficiencies or FVG (Fair Value Gaps) these are periods in price action whereby means of lopsided order flow, which create porous wakes or gaps in fills. The market will slip to the only available trade levels as a result of thin liquidity and these voids in liquidity will be revisited at a later stage. The market will seek to...
![JPYBASKET: JPYBASKET Analysis [11/30/2023]](https://s3.tradingview.com/q/qaPMNVNB_mid.png "JPYBASKET Analysis [11/30/2023]")
