NZD/JPY has been on three months ascending channel but luck ran out for the bulls as the market broke out of the channel after meeting strong monthly resistance, the market broke out and retested with a long bearish candle on the daily TF with the 200 EMA crossover to the downside. Reasons for shorting this pair; 1. Ascending Channel Break 2. A retest of the...
While the Japanese yen had been trading on an upward short-term support line, last week it broke this line. Interestingly enough though, it found another level of support similar to the previous level of support, but just with a bit of a less steep slope. Clearly there is much evidence to suggest that the Japanese yen should be taking a nosedive. Compelling...
USDJPY has a number of trends going against it to force price action downwards. Technicals and fundamentals are not on the dollar's side against the yen. Traders can see a number of oscillators and MAs suggesting USDJPY is overbought and due for a reversal. Moreover and probably more impactful are the fundamentals of the global economy which suggest major growth...
The price returned to test. The price returned to test the medium term key support at 123.8. If it were violated to the downside with closure below it would be a strongly bearish scenario. This would immediately lead it to the next static support at 122.6. Within a couple of sessions then could try to break it down. The pair could reach the next support area at...
There are a number of fundamental components that caused USDJPY to collapse on late Friday trading at the end of the North American session. Traders became spooked by the yield curve inversion which tends to be a sign of an impending recession. Traders were also not very happy with dovish Fed speak earlier in the week, chaos around Brexit, and no respite from the...
Hi traders! Looking to short the Nikkei. Just an idea, not advice! Best of luck!!
While there is much room to go before we hit resistance, I am really not a huge fan of this overall lackluster performance. Keep in mind, the BoJ owns upwards of 80 percent of the entire Japanese ETF market. 80 percent. Let that sink in. Also, export data is weak in an economy where exports make up 18 percent of GDP. If we gain five percent from today, nobody will...
Nikkei 225 is a bit tricky. Good fundamental data out of Japan such as dovish monetary policy, but weak export figures which is why its down today. Technically, we are well above most exponential moving averages, but stochastic reads overbought while momentum suggests we are still headed in an uptrend. Overall, not enough signals for one way or the other.
FUNDAMENTALS: JPY: - Rates remained the same in Japan, doubt they'll change anytime soon. - ageing population, shrinking AD in the economy. - Slow wage growth, however Abe has introduced a minimum wage to combat low levels of AD, but a weakening JPY will make it difficult for consumers to spend abroad - Which is good as the BOP will correct itself (X-M) -...
Maybe another 1000 pips to go before we see some significant downward momentum at 112.30.
I am expecting price to rebound from the bearish streak at the 20742.2 price level, which also represents a fibonacci zone. However, it should be noted that the price is creating somewhat a triangle pattern and it is thus wise to watch out for further downside movement below the 20742.2 price level as prices might be heading to retest the upward trendline from the...
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...
If we look to past movements, the flag created, trendlines and support and resistance lines I think EURJPY will drop soon! We will look for the blue area wich is drawn. Since we touched this area before we may retest this area and see if we go further down or up again.
I have decided to return and begin posting my market outlooks on TradingView, to establish both my name and brand. Please ensure you follow my page for upcoming market breakdowns of the 9 currency pairs I trade. To start off, here is USD/JPY. Following my usual analysis pattern I first established my bias across the higher time frames. On the monthly time frame,...
USD/JPY is a pair I have been sat on the sidelines with for some time. It just hasn't offered the trading set-ups I look for. However, that looks to change this week if price forms this pullback i am expecting. Starting from the higher time frames, price formed a very strong wick rejection of 105.200 before almost reaching back to its monthly opening price. This...
AS you see the USDJPY moves in uptrend and I hope the pair touches the trend line to buy it and targets
Macroeconomic side The price in the last sessions is continuing to maintain this lateral / bullish trend without giving too many signs of inversion, supported by a recovering dollar. This week will be essential to understand the short-term trend that will follow both the dollar and the yen: in fact, tomorrow the Fed chairman will make a conference, from which...