The price of gold has fallen significantly since it crossed the $1,670.00 barrier.
The US dollar index (DXY) has become extremely volatile due to rumors that the Bank of Japan (BOJ) intervened in the FX markets to strengthen the Japanese yen, which has put some fair selling pressure on the precious metal.
The Federal Reserve policymakers are expected to raise...
In this video, I go through the analysis done prior to the BoJ intervention that I warned of in a prior video with the euro, kiwi ideas all vulnerable as the US dollar gets whacked by the BoJ Ninjas!
I see an "Ascending Triangle" on this daily chart, PLUS given the recent economic news in regards to the Bank of Japan.
I am long this pair.
I actually just started an FTMO challenge today, this is a trade I have taken in the account. I will keep you posted on the challenge.
1% Risk | 2:1 RR
Here I go through an article I wrote for FXStreet about the US dollar, yields, yen and technical analysis on those as well as the threat of Bank of Japan intervention.
USD/JPY is almost unchanged today but hit a milestone in the Asian session as it briefly darted above the 150 line, which has psychological significance. This marked the yen's lowest level since August 1990 as the currency continues to slide. The yen hasn't recorded a winning session since October 4th and has plunged about 600 points during this period. Later...
As the Yen continues to weaken, the market consensus is that the BoJ is most likely to intervene when the price hits the round number level of 150.
Understanding the previous time the BoJ intervened (non stealth) on 22nd September 2022, there are a few learning points to note:
- The market consensus price level then was 145. However, the BoJ intervened only when...
Dear Traders,
Many of us have been stopped by the strong uptrend of UJ.
This is a counter trend idea.
The Red area is Monthly Supply Zone since years ago. The fact that the prace is barely above in the 4H doesn't mean that it is now a demand zone.
It has to be tested multiple times in order to be categorised as support.
The pair needs breath to be ...
USD/JPY has edged higher today and is currently trading at 149.17. The yen has fallen for eight straight sessions, losing 500 points in that time.
The yen continues to set new 24-year-old lows as the dollar/yen has pushed above the 149 line. This is a higher level than when the government intervened last month, which marked the first intervention since 1998....
Hi traders.
On Thursday 22 of September, the Price actions violated rapidly the former support.
It has not been checked and my bias has shifted to bearish, 'cause I take into account as a supply area now.
The price action has been performing bullish impulse moves without significant correction.
With positive JPY news, this scenario can be validated even...
USD/JPY continues to move edge higher and is up 1.6% this week. In the European session, USD/JPY is trading at 147.67, up 0.25%.
The Japanese yen is once again on a downswing, after hugging the key 145 line. The dramatic intervention by Japan's Ministry of Finance (MoF) in September stemmed the yen's bleeding, but this move by Tokyo appears to have had a very...
There are two tell tale signs that an important event is looming; realised volatility has died a quiet death whilst implied volatility has sprung alive. For all FX majors, 1-day implied volatility is currently higher than 1-week implied volatility, which means options traders estimate volatility over the next 24-hours to be greater than the next five days.
Today...
Today was just bizarre, to say the least. Dead cat bounce or what? Well, lets see how things pan out but be prepared to get short of the dollar if the set ups turn up on Friday and next week.
USD/JPY finally closed above 145 for the first time in 24 years. Given we saw the MOF (Ministry of Finance) intervene around 145.9 then the potential for the BOJ or MOF to jawbone (if not intervene) may be high. However, traders remain aware that it will take a coordinated intervention to turn this trend around, which is why prices simply drifted back to the highs...
BOJ - Let's challenge you!
Intervening in there currency was a perfect technical set-up as well but as I started in my previous posts, we are going to re-rest the highs as we are, and we could perhaps go further if we break above that spike high of 146 area. However, we could get a fake break to either direction that's where you should be careful. Technically we...
The yen's recent sharp fall, which has pushed up the cost of living for households as fuel, food and drink prices rise, was partly driven by the widening gap between the US Federal Reserve's aggressive monetary tightening and the BOJ's ultra-loose monetary policy. BOJ Governor Haruhiko Kuroda echoed Suzuki's warning that a rapid yen move was undesirable, but...
The USDJPY had been climbing strongly especially as the price broke above the 140.50 resistance level to an overall high of 145.90. However, before the high of 145.90 was reached, the price had been resisted by the 145-round number resistance level.
On the 14th of September , as the USDJPY tested the 145 resistance level again, the Bank of Japan conducted a rate...
