The USDJPY pair broke the ascending channel’s support line after witnessing three descending tops, targeting 111.40 level next.
The price consolidation below 112.85 keeps the expected bearish trend, while surpassing it will push the price to the ascending channel again.
Current risk off envirnoment spured sell off on that pair.
Last week close below 112 added to bearish view ( notice: TL break, retest, rejection )
Attempt to rally above 112,50/80 might be the selling opportunity.
110,00/20 as first possible target, around 108 next and 105/104.
Weekly close above rising TL will put the idea on hold and weekly close above 116 ...
USDJPY gained over 130 pips after BOJ signaled to continue easing.
The bullish wave has completed a significant wave of retracement after reaching 112.
It is highly probable that USDJPY will continue another wave of appreciation fundamentally where the Fed continues its effort to raise rate and BOJ continued to ease monetary policy.
The technical rebound and ...
As BOJ kept its monetary policy unchanged, the yen is set to weaken further.
The price has been holding steadily at 111 and supported by a daily rising trendline just before the release of BOJ monetary policy statement.
As the news is released, USDJPY came down at first, but quickly recovered its losses climbed to 111.43.
A head and shoulder formation was ...
Our Second Idea on Tradingview
=> Here we are smelling risk off in the coming sessions.
=>From a technical perspective we are eyeballing a move back towards the 61.8% from the bottom of the channel we have been trading since April.
=>Expecting investors to raise the bid on risk off assets as we have the triple CB combo this week with BOJ, FED and BOE in play. ...
I like this as a short targeting the fib extensions, stop is above red line. BOJ meeting is next week so have your calendar and alerts set if you are trading any pair with JPY they may change direction on monetary policy
- yen broke a key level
- Now testing a 4 Month Trendline.
- 4 Month Trendline has been tested twice in the past and bounced off, maybe bounce number 3?
- I will be happy to allocate long/short, off these levels.
Somethings of note:
-the BOJ uses JGB's Targeting in its monetary policy. My theory is that when you see out-sized moves in JGB's, its indicative of a ...
I am looking for a third leg lower in USDJPY for what I consider a corrective bearish structure. This means; after the sell we should be looking for a buy of larger degree.
New weekly outlook uploaded to my YouTube channel: Tim Stuyts
Have a good trading week!
With no notable economic data to be released later today, I’ll be looking at the USDJPY for possibility of it retesting the 105.80 and 105.30 support level. This is in addition to the current commentary coming from the BoJ regarding the actions to be taken to reach their target of 2% CPI.
How long can the BoJ maintain its zero yield curve targeting with the growing divergence between US rates, strong GDP numbers and Abe's strong arming of Japanese corporates to raise wages? Looking for the USDJPY to test 100 congestion zone in the medium term followed by the 91 handle over the longer term. Extrapolate the strength of the USDJPY to the DXY and ...
Price has broken above the trend structure after a correction since September 2017. We are holding onto a bullish bias for this pair, potentially targeting 94.60 area.
I will be following up and tracking this thread regularly throughout the year. Make sure you follow this idea to get notified whenever there is an update on this idea.
Have a great trading year ...
I'm noticing USD/JPY 0.10% is testing a major overhead resistance level dating back to May 2017 for the third time. Each time this level is respected price proceeds to make quick moves to 110.000 (check out daily chart .)
This stance contradicts my current understanding of market direction. My expectation is XXX/USD pairs falling with the EUR/USD ...
Based on my analysis of the pair's movements this year, I'd expect the pair to have a chance to reverse and continue working through its current channel down to about the 107 mark. However, this analysis is simply based on its current pattern which I predict it will break out from in the long-term due to discrepancies between the Fed and BoJ's macro-scale views.