After PCE in US and BOJ rate decision USD/JPY targets 1.60 or 62.2 on the index
Spread btw spot and futs widened at breakout or reversal juncture
How to identify the Three Drives pattern? The three drives harmonic pattern is identified by various three higher highs or lower lows. They gather in a reversal of the existing trend. Every move lower or higher is quantified by using the Fibonacci extension and retracement levels of 61.8 and 127.2 percent. In some instances, the definition of the 3-drive...
Following the trend , price seems to at the lowest level where recent support was established , but waiting for a clear reversal signal with clear confluence , near 65.82 . Following wave theory price could over extend to that zone and clear price pattern structure could mean a clear reversal, with a flip in price near (@67.07, the recent lower high) in the lower...
JXY is almost completing 3 corrective wave and we can expect price to push up soon. Let me know in the comments if you have any questions
Are you ready to embark on a profitable trading journey? Join us in seizing this golden opportunity by longing the yen. Here's your call-to-action: 1. Analyze the market: Conduct thorough research and analysis to understand the current market conditions and potential risks involved. 2. Develop a trading strategy: Create a well-defined plan that includes entry and...
Hello Traders, 📈 Daily chart review : - it still keeping downtrend on. - Price will retest at support zone again 📌News : BOJ continues to maintain negative interest rate policy 🎯In my trading opinion: If price moves nearby support and has a reversal, JPY may raise up next time. Now, xxxJPY can keep continue up on 📚 Remember that: Always follow your trading...
Fractals , Fib in log chart simplicity not sure how correlation works with usd, cause usd seems getting strong.
In the realm of market trends and seasonality, January in the JXY index has historically exhibited a remarkable 70% bullish bias. However, the current scenario defies this pattern, with the JXY index experiencing a decline exceeding 3% until January 22, 2024. The peculiar nature of January's bullish inclination in recent years can be attributed to the pivotal...
No divergence seen on RSI H4. A continuation of trend down expected until it hits H4 resistance we can expect a reversal
There is a Confluence of a Bullish Butterfly and a smaller Bullish Bat visible on the 5-day and Weekly timeframes on the JXY as the RSI ticks out of the oversold zone for the 4th time at this level while making higher lows each time. It would seem as if the JXY is confirming to us that it has reached a Harmonic Bottom and is preparing to rise up to some of the...
Hello trader ! Seem like we are having SELL opportunity for all JPY related pair. Since JXY is approaching strong weekly demand/support zone. We will expect JPY pair to go down.
Introduction: In the ever-evolving world of currency trading, it's crucial for traders to stay informed about potential interventions by central banks. The recent Federal Reserve meeting has sparked speculation about the Bank of Japan's (BOJ) next move regarding the yen. This article aims to examine the likelihood of BOJ intervention and provide a cautious...
The Japanese yen has taken a tumble after the Bank of Japan's decision to hold interest rates steady. Meanwhile, the perfect trading scenario has emerged with the US dollar/DXY. It's time to capitalize on this golden opportunity and make some profitable moves! So, fasten your seatbelts and get ready to ride the wave of success. The Bank of Japan's Impact: The...
My first analysis about the JXY. It will be done periodically from now on to keep a fresh perspective over one of the most important currencies in the world. The Japanese Currency Index (JXY) is a stock market index that measures the performance of the Japanese yen against a basket of six other major currencies: the US dollar, the euro, the British pound, the...
With BOJ ultra loose monetary policy, JPY value looking to depreciate overtime in long term. Recently, with the news of Fukushima radioactive water release into the Pacific Ocean announced by Japanese government believe would be impact Yen, and making JXY value expect to fall as faster than expected.
The JPY index could begin a slight recovery, and we conclude this based on data on increased inflation, which would produce an intervention by the Bank of Japan. For targets, we are looking at Fibonacci 38.2%-61.8% range.