The price of the NIKKEI is above the key resistance formed by the two EMAs (20 and 200 periods) daily and by 38.2% of the Fibonacci retracement. With this weekly closing above 22070 points, it is very likely that the price goes directly to the target. The next is in the area about 22900 points. Coinciding with 23.6% of the Fibonacci retracement.
This level will...
The price of gbp/jpy broke the support zone. The one identified by the EMAs 20 and 200 periods and by 50% of the Fibonacci retracement, on a daily time frame. Violating the whole area between 145.60 and 145.00 and confirming the closing below it, the price will continue this downtrend. The next target that coincides with the first key static support is at around...
$AUDJPY offers a nice entry on dips here, the same way as in $EURJPY, the trend is now up in both daily and weekly charts, which gives us a terrific opportunity on the long side.
Best of luck,
The most recent break below 110.5 indicates that this sell-off towards the end of the Fiscal year is looking impulsive in nature. This is a result of combination of flows from Yen repatriation for the FY end and risk-off via Central Bank uncertainty, Brexit and Meuller (now cleared).
Any pullbacks towards 110.2 and 110.5 should be considered corrective and...
After some positive news from Moody’s last Friday on Italy the headlines are starting to fade making this morning a great opportunity to start getting short EURUSD and EURJPY around current levels.
The ECB introduced a risk premium on the EUR which is only going to increase as the EZ outlook softens. I like playing EUR against pockets of USD strength as we have...
Here we are tracking a very similar move to before (see attached: "GBPJPY Shorts on Hourly Chart") on the hourly as bulls become exhausted and unwind their positions for the triple whammy votes this week.
Brexit continues as the driver of Sterling for now, on the UK side we have more votes coming next week so eyeballing a test of the lows beforehand. For those...
On the technicals it is a simple AB=CD leg in play to the downside, a break of 110.4 will open up the remainder of the move.
For the macro side we have seasonality flows going on. Fiscal year end repatriation moves back to Yen, we are right on time for a mid-march kickoff... something those from the forex channel will know we have been tracking for some time.
We have a very similar setup to that in GBPNZD (see attached: "Expanding Diagonal in GBPNZD" for more information on the technical side as we will not be covering that here).
As expected the House of Commons rejecting the idea of a no-deal Brexit yesterday (although by default unless there are any changes we are heading for this outcome so it still remains in...
this is an update of the post USD/JPY week10 linked in the related ideas below.
View is unchanged: the pair remains squeezed between the two SMAs.
In view of US dollar bearishness and Gold bullishness I would be inclined to be bearish on this pair but I have not made up my mind yet.
Thank you for your support and for sharing your ideas.
A retest of the lows seems a done deal after bears are coming back in here, we have yen repatriation flows kickstarting with the NY session. Every March we see fiscal year end flows back to yen, it is a very seasonal flows.
the above to show the performance of USD/JPY since the beginning of the year divided in weeks.
H1 chart (compressed at max) shows an uptrend supported by two SMAs. The slowest should provide a balance of the trend and should correspond to 50 line in the RSI. The longest should provide support.
At the moment price is supported by the 450SMA with 150SMA...
Here we can see the zoomed out macro map for the flows in usdjpy. If you are a believer in the bullish USD story and see this as an ABC corrective leg, after completing a multi decade 5 wave sequence.
Timing wise we have the seasonality flows to Yen as we approach the end of the fiscal year. Although the name of the game is to park in dollar so these are...
TRADE TYPE: SELL WHEN THE MARKET OPENS AT AROUND 124.800 LEVEL
STOP LOSS: 126.750
TAKE PROFIT: 123.000
With the trendline and channel on daily charts broken convincingly, the cross is aiming to test the next crucial support that lies in the 123.000 level! Price has already given the confirmation and the short trade can be executed...
REFER TO THE ANALYSIS IN THE RELATED LINKS
TRADE TYPE: INSTANT EXECUTION AT AROUND 126.840 LEVEL
TRADE TYPE: BUY (LONG POSITION)
STOP LOSS: 125.685
TAKE PROFIT: 128.000
SHALL THERE BE ANY UPDATES I WILL PROVIDE THEM HERE. CHEERS
Here we can see the end of a 5 wave pattern to the downside and the AB leg of the ABC correction complete.
So what does this mean?
Well we have still yet to put C in place, so simply we are targeting 35.75 for this corrective process. It's worth engaging in further topside exposure, especially if you are a believer of the bearish Yen story.
Best of luck those...
Here we are zooming in for those wanting to track the initial move in this large leg on a small time-frame.
Those who follow the account here will know we recently uploaded a Daily chart on GBPJPY with shorts all the way to the bottom of the range. Here we are showcasing an initial impulse move down at resistance.
For a more detailed breakdown on the macro and...
the pair crossed the SMA which technically provides a bearish bias.
However please look at what happen on Jan 27 when it crossed the SMA. That week it didn't fall immediately on Monday. It found support before diving on Wednesday.
Now timing is different. It's Wednseday and DXY has been weakening since the beginning of the week.
Strategy: wait and...
By Andria Pichidi - February 19, 2019
USDJPY edged out a fresh high, at 110.77, which is the loftiest level seen since Friday, in what has been directionally-limited trading in the forex and global equity markets so far today.
The MSCI Asia-Pacific (ex-Japan) stock index is fractionally lower, although near the four-month highs seen last Wednesday. Market...