EURJPY reached a peculiar zone on Monday:
we see a perfect match between a horizontal demand zone and 618 retracement of the last bullish impulse.
Testing the underlined zone, the market was rejected nicely and formed a doji candle then.
On 4h time frame, a double bottom was formed. The price successfully closed above its neckline.
I think that the pair will...
The Japanese yen has lost almost a fifth of its value against the USD this year, lifting the price of imports and contributing to an eight-year high in the growth of Japan’s core CPI. Similar situation with EURO and GBP.
Could this be time for a global backlash against the Fed?
Possibly yes, as Masato Kanda, Japan’s leading currency official, said on that Tokyo...
Update for NZDJPY pair.
It turned out, that the price managed to break and close below a key daily support.
82.1 - 83.28 is a solid supply zone now.
The pair will most likely keep falling to 80.0 support.
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NZDJPY dropped to a key daily structure support.
Approaching the underlined structure, the price formed an inverted h&s pattern on 1H time frame.
To buy with a confirmation, we need a bullish breakout of its neckline (82.57 -82.7 area).
Goals will be 83.24 / 83.77
If the price sets a new low, the setup will be invalid.
❤️If you have any questions, please,...
British Pound/Japanese Yen was able to break the support lines and the support zone and is currently completing its pullback.
I expect the British Pound/Japanese Yen to go down to the trend line, at least.
🔅British Pound/Japanese Yen Analyze (GBPJPY) Timeframe 8H⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please...
JPY – The Japanese yen soared across the board on Thursday after monetary authorities intervened in the foreign exchange market to boost the battered currency for the first time since 1998.
Nevertheless, despite JPY’s immediate uptick, analysts doubt Japan will be able to sustain a pronounced recovery in the safe-haven.
Indeed, commenting on monetary policy...
The NZDJPY pair has had a massive rejection today on the 1D MA50 (blue trend-line) as the forex market is attempting to digest yesterday's Fed Rate Hike by 0.75 bp for the 3rd straight meeting. The sell-off almost hit and is so far holding the 1D MA200 (orange trend-line), which has been holding since March 02. A break below can test the 1D MA300 (red trend-line)...
Japanese Yen Daily
Where is the bottom of this market? This is my take on where we are at in the cycle.
I believe we are approaching an area where some buying interest will show up to bring us through a wave 4.
Ultimately a wave 5 will bring us to a long term buying point as shown here:
The CADJPY pair has been on a (very) long-term rising trend as depicted by the Fibonacci Channel on this chart, since the March 2020 market low. At the moment we see a short-term pull-back after the price made a new Higher High since the April 21 one.
Based both on the RSI and MACD indicators, it appears that we are in a similar pull-back leg as the one that...
HELLO GUYS THIS MY IDEA 💡ABOUT USDJPY is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the buyers from this area will be defend this long position..
and when the price come back to this area, strong buyers will be push up the market again..
UPTREND + Support from the past + Strong volume area is my mainly reason for...
On a yesterday's live stream with my students, we discussed GBPJPY pair.
Falling sharply, the price reached a solid demand cluster last week.
The price formed a tiny ascending triangle on that yesterday
and broke its neckline then.
I believe that the pair will keep growing now.
Goals: 164.28 / 164.73
❤️If you have any questions, please, ask me in the...
EURJPY is coiling around a key daily structure support.
Analyzing the reaction of the price to that structure, I spotted a horizontal range on a 4H time frame.
The market remains very weak and indecisive on 4H and trades in sideways.
To buy with a confirmation, wait for a bullish breakout of its neckline (you need a 4H candle close above that to confirm the...
Hey traders,
Here is my latest structure analysis for USDJPY:
Support 1: 141.5 - 142.6 area
Support 2: 138.85 - 139.35 area
Support 3: rising trend line
Resistance 1: 144.55 - 145.0 area
Resistance 2: 146.5 - 147.6 area
The price is currently stuck between Support 1 & Resistance 1 composing a horizontal range.
For now, you can consider range trading, buying...
The CHFJPY pair has been pulling back after the September 13 High, following the impressive rally since the August 02 low. This pull-back is taking place after the 1D RSI broke the 80.00 heavily overbought barrier.
On this 1D chart, you may notice that especially since October 20, 2021, every time the 1D RSI got heavily reversed upon breaking the 70.00 level, the...
HELLO GUYS THIS MY IDEA 💡ABOUT EURJPY is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the buyers from this area will be defend this long position..
and when the price come back to this area, strong buyers will be push up the market again..
UPTREND + Support from the past + Strong volume area is my mainly reason for...
HELLO GUYS THIS MY IDEA 💡ABOUT EURJPY is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the Seller from this area will be defend this SHORT position..
and when the price come back to this area, strong SELLER will be push down the market again..
DOWNTREND + Support from the past + Strong volume area is my mainly reason...
