JXY index fall tremendously last week, greater than our expectation. Indicating weak buying sentiment at JXY previous support level at 69.00. However, although we're expecting JXY will hit further lows in long term, next week may have a small bull(short term bullish outlook) on JPY against other currencies.
JXY reaching 69.00 support level at 69.00, Yen buyer may start collect yen for short term pull back before JXY testing the next low. JXY seems able to take a breath ahead next week.
The JPY index has the potential to visit the previous low, and we may see a break below and the formation of a new lower low
Japanese Yen gains 200 Pips against Dollar USD after July 2023 FOMC meeting, however market see turning point at support 137.923. Indicating USD bull run is begin against JPY.
Would Japanese Yen Index continue making new lows in order for other currencies to break new highs?
JXY JPY Index has been super bullish since few days but seem to lose its energy on 1 Hour time as it is getting rejection from Daily Resistance level with breakout of Rising wedge pattern with RSI Bearish Divergence.
Intradays also focus on the weakness of JPY, buyers are stepping aside
The charts of 6monyhs movements indicate that there would be no bull sooner... Retracement van always happen. Watchout for h1, h4s and daily tf
Market expected to decline TP to 19% @73.02 may see stagnated incline before decline but ultimatly expect market to decline. INCLINE: 1.00% DECLINE: -0.57% INCLINE: 1.79% DECLINE: -1.43%
JPY is touching trendline and horizontal line. Do you think it is time for bullish or bearish setups on the Yen
Bear market continuation, macd (N) Bullish right above 50/50 signal below ma, rsi bullish right above 50/50 signal below ma expect market to decline retest 3m-low form double bottom and bounce to the upside in near future weekly tp @ 76.66 CLIMBAGE: P1: Inline:1.51% Decline-2.06% P2: Incline: 2.82% Decline: 4.34%
(N) market bearish momentum: macd (N) on 5050 signal below ma rsi BULL above 5050 signal on/below ma. double top forming @ 4hr-low indicators signaling bear market/momentum to continue TP@ monthly-low Climbage projectile P1: INCLINE:1.93% DECLINE: (-3.73%) P2 INCLINE: 2.98% DECLINE: (-6.85%) Incline weekly percentage chance: 26% Decline weekly percentage chance: -90
Expecting market to follow the decline before the upmove but could very well decide to take that up move without decline wait for break. Climbage Projections1: INCLINE: 1.92% DECLINE: (-2.26%) ... setting up for a significant rise
Hi Traders, this is my take on the Major indexes before the Feds rate news this evening. Trade safe and stay blessed. Enjoy
Market finishing up ending of pullback era with one last bullish movement preparing for significant decline. Have to keep in mind USD/JPY atr range when trading usually goes way up there MACD shows bull market still just above 50/50 but under ma expect minor bullish patterns until drop is ready to be executed SYLYNTEXCHANGE.COM SITE UPDATED FOR WEEK OF 20-27 I...
always try to understand the fundamental side and then the technical and then play with the correlation
The JPY has taken a major beating following rate rise in major economies to curb inflation and the ultra easy monetary policy in Japan. Nevertheless, the Japanese Yen Index (JXY) seemed to have found a bottom at about 65.85 in October 2022. The has recovered some ground following the bottom in Oct 2022, and has successfully completed major wave 1 and formed a wave...
The Japanese Yen is currently experiencing a bullish market trend, as indicated by technical indicators such as a CHoCH and confirmation by 4 BMS. The currency is currently trading above key moving averages, and indicators such as RSI and MACD are showing consolidation in the bullish zone. Japan has a large and unique economy, known for its manufacture and export...