As i am making a quick plan about the pair how to take a trade after new year i am happy to provide both scenario about the trading on 1hr timeframe. NFA
As per my anaylsis JPY has been on oversold on RSI and now making a good reversal strong and bullish from last two months but on a month time frame Dec is the month of green candles and red candles on 15 year charts. Please there is an very strong Resistance on 80.42 if its did not break it then jpy chart lools ugly. Because it is also creating a Inverse...
Bullish Indication.
Bulliish trend intact.
Price value in between 1hour resistance zone
Bullish parallel channel intact
JXY seasonaly moderately bullish
Trade plan to Buy / Long position
Entry point above the support / resistance zone @ 75.75
Stop Loss below the support / resistance zone @ 75.15
Take profit below the support / resistance level @ 77.25
Bearish...
I wonder how market randomness can be explained with such precision! the chart shows how yen index precisely jumped at trend line touch. This surged the pair USDJPY for more than 600 pips in two hours!
The bank of Japan declined to comment bout any intervention!
Both the Nikkei and the S&P have moved in the same direction along w the yen and the dollar. However recently the Dollar has appreciated dramatically while the Yen has depreciated dramatically. It therefore presents an arbitrage opportunity. The US dollar will eventually come back down and stabilize along w the yen rebounding. The problem i'm running into is how...
JPX still has to retake 72 for it to be showing signs of the big butterfly reversal being in play.
Here's a few shorter-term signals that help to define the area in which to bet most aggressively on the low and place tight stops. Once there's a pullback a low should stop before the 220 fib. As we got close to this 220 fib was where I scaled up my long Yen...
JPY is in a monthly downtrend.
In order for the downtrend to continue, a new monthly correction trend line must be drawn for it to continue. If a correction occurs, the monthly correction is more likely, and the blue support line is more likely to be tested. If it settles above the blue line, the monthly downtrend will stop and the chance that the uptrend will...
Adding more to my JPY long position. It's already my biggest position and scaling it up more. The index has now completed a big butterfly pattern. With the classic capitulation in the D leg, news driven. When the butterfly reversal works, we now begin to uptrend. Often also news driven.
Short GBPJPY, NZDJPY, AUDJPY and EURJPY.
hello tradingview community, lets get straight into technical... currently the JXY is completing the falling wedge, it could break the falling wedge or may pull back and stay in the falling wedge since it is still in the bearish momentum area according to RSI and Macd for 8hr tf.. Price has made a strong support around 73.03 where the could or may not test...
On this chart of the JPY index, we see a strong resistance in the zone of the 38.2% Fibonacci level and the continuation of the bearish trend. The BOJ continues to stick to its dovish policy, which could further weaken the already weak Japanese yen - JPY.
Trade Safe - Trade Well
Regards,
Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.
RISK DISCLAIMER
Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in...
JXY, Yen has technically taken out the support and price slides further downside. All the crosses looks like to make all time high specially USDJPY
BoJ Stance:
BoJ would adhere to its ultra-loose policy until the Bank achieved its inflation target of 2%.
With Kuroda doubling down on the Bank’s accommodative policy, the risk for the yen is clearly tilted to...
Yen hitting ATL recently is interesting, now its retracing, but to what level before a continuation of this downtrend? Looking back at prehistoric res/sup levels we can clearly see that the area around 80.00 is significant. 80.00 is also a nice psychlogical level. We could expect a monthly closure around 80.00.
Keep in mind, you win some, you lose some. And u...
