Monetary Policy: A Hawkish Stance? The BoE's impending monetary policy decision is a critical factor underpinning Sterling's performance. The analysts' consensus is that the BoE will adopt a hawkish stance, with a 25 basis point hike in the bank rate. This move would bring the bank rate to 4.50%, in line with market expectations. "We expect the BoE to hike...
EUR/JPY has printed consecutive bearish sessions breaking last year's high of 148.48, extending its losses past the 18-day Exponential Moving Average (EMA). The evening star three candlestick pattern shows that further downtrend is expected. But the Relative Strength Index (RSI) indicator remains bullish, while the 3-day Rate of Change (RoC) depicts the momentum...
The GBPJPY pair was rejected on May 2nd on Resistance (1), a level holding since October 31st 2022. The pattern is a Rising Megaphone and the rejection was on its top, indicating a significant downside potential. Trading Plan: 1. Sell on the current market price. Targets: 1. 164.500 (the MA200 (1d)). Tips: 1. RSI (1d) being under its MA line is an early bearish...
The USDJPY pair is on a bearish trend after failing to break Resistance (1). There is a Rising Support since the January 16th Low and if broken can lead to a Rectangle creation. Trading Plan: 1. Sell if the price closes a (1d) candle under the MA50 (1d). 2. Sell again if it closes a (1d) candle under the Rising Support. Targets: 1. 132.000 (the Rising...
EURJPY - 24h expiry Buying pressure from 147.88 resulted in prices rejecting the dip. The current move higher is expected to continue. This is positive for sentiment and the uptrend has potential to return. Previous resistance located at 149.27. Further upside is expected, however, due to the strong resistance above we prefer to buy a break of 149.27, which...
Japanese yen strength over time. While the yen underperformed during the global monetary tightening phase, in our view, the currency has scope to outperform later this year. We now believe the BoJ will take advantage of a tactical opportunity to further tweak its policy settings in Q4-2023 to further normalize the government bond market. Such a policy move adds...
Based on technical analysis, the 4-hour timeframe is currently showing a rejection of the Exponential Moving Average (EMA) and the first support level (S1) of the daily pivot points. These factors indicate a potential bullish trend reversal in the near future. However, before initiating a long position, it is important to observe whether the price will close...
STRATEGY LONG The Japanese yen depreciated past 134.5 per dollar, sliding back toward its weakest levels in seven weeks as the Bank of Japan maintained its ultra-easy monetary policy and made no adjustments to its yield curve control. However, the BOJ said it will remove forward guidance that pledges to keep interest rates at current or low levels. Latest data...
NZDJPY broke and closed above a huge horizontal zone of supply on a daily. The broken structure turned into a demand zone. I will expect a bullish continuation from that zone. Goals: 0.869 / 0.8765 ❤️Please, support my work with like, thank you!❤️
UDSJPY buy idea: My idea for USDJPY is that it'll go up, that is because there more sell positions on the left side, price is now currently showing bullish build up momentum which is a sign that price are getting attracted the stop-loss of recent sellers.
NZDJPY - 24h expiry Previous support located at 85.00. Previous resistance located at 85.50. Price action looks to be forming a top. Short term momentum is bearish. A move through 85.00 will confirm the bearish momentum. We look to Sell a break of 85.28 (stop at 85.78) Our profit targets will be 84.08 and 83.78 Resistance: 85.50 / 85.80 / 86.00 Support:...
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. Here is a detailed update top-down analysis for CADJPY. Which scenario do you think is more likely to happen? and Why? Always follow your trading plan regarding entry, risk management, and trade management. Good Luck!. All Strategies Are Good; If Managed Properly! ~Rich
Details on chart - looking to see which direction the range breaks out to play that continuation with buys being more prevalent in line with HTF bias
In my trading strategy, I analyze eight custom currency indexes on the 30-minute time frame to capture short-term market movements. I utilize pivot points, Exponential Moving Averages (EMAs), and various technical analysis techniques to develop a bullish or bearish bias for each currency. By examining the interactions between these indicators and price action, I...
Tokyo has just opened and we see futures traders shorting the yen with decent volume, which suggests institutions have a bearish bias today on the local currency. This has pushed USD/JPY up to a 4-day high, and keeps a bull-flag breakout in play on the 1-hour chart. The flag projects a target around 135.50, but we're looking for prices to retrace towards the...
Potential Wave 5 Retracement. Wave 5 looks to be close to being complete. Looking for a retracement or pullback anywhere between 15-50% of the fibonacci retracement. Not advice.