Despite sharp inflation, the Bank of Japan (BOJ) left YCC unchanged on March 10th. This was Haruhiko Kuroda’s last meeting as BOJ Governor. Japan is still struggling to stoke growth at risk of sustained stagflation. Hence, his decision to leave rates intact was no surprise. Kuroda left the YCC unchanged. Analysts expected him to scrap the YCC so that the new...
Details on chart - looking for more buys ahead of a weaker Yen compared to the Pound
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...
Like I said would happen last night, pin point to the T! Go back on my profile to check the last analysis I uploaded. Perfect breakout and now running 120 PIPS in profit.
Idea of assembly on a JPY currency basis, Attention all these ideas are not to take but you can use them to develop your strategies for this week.
AUDJPY - 24h expiry - Previous support located at 90.50. Previous resistance located at 91.00. There is no clear indication that the upward move is coming to an end. Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. Risk/Reward would be poor to call a buy from current levels....
In our last analysis we identified that we were in wave 2 correction. We've seen waves A and B and now we've almost completed wave C. We're looking for price to complete wave C at the structure level before reversing for the longer term. Trade Idea: - Watch for rejection at the structure level indicated - For confirmation, watch for lower timeframe trendline...
Hey Traders, in tomorrow's trading session we are monitoring USDJPY for a buying opportunity around 135.800 zone, USDJPY was trading in a downtrend and successfully managed to break it out after a dovish BoJ this week, we would also consider some potential USD longs as the coming FOMC on early May is expected to be Hawkish with several feds pointing another...
At the moment, the trading instrument is likely to continue its upward movement in the short term, this is what the breaking of the past high tells us about. The USD/JPY COT report data reflects a notable uptick in bullish sentiment in terms of a 15% increase in buyers and a 5% increase in market capitalization. COT report data on the dollar index (USDX) reflects...
Our trade relies on fundamental analysis, and technical analysis only serves as our entry point. Currently, the US is undergoing a process of quantitative tightening. The upcoming FOMC meeting is expected to result in a 25 basis point rate increase. A rate increase of 50 basis points or continued rate hikes would be seen as a hawkish signal. Meanwhile, Japan...
Chfjpy showed signs of move to the previous levels, let's see how it plays out
The USDJPY 4-hour chart has just closed right at the key 61.8% Fibonacci support level, which is a bullish signal in itself. Additionally, the uptrend trendline is holding steady, adding further weight to the bullish case. However, to confirm this potential uptrend, it's important that the price remains above the current demand zone. If this is the case, we could...
TP @ 155.00 BLO @ 151.53 ADDITIONAL INFO: 00:00 Revenge Trading 01:12 Buy Order (aggressive) 02:04 Small Loss for a Big Win 02:48 I hate CHFJPY!!! Unfortunately, our previous short position was liquidated because I based my analysis on the Oanda, which had limited historical data for this pair. As a result of examining the FXCM chart, I've determined that...
-SL @ 158.45 🚫 SLO2 @ 157.33 ⏳ SLO1 @ 155.25 ⏳ TP1 @ 151.25 (shaving 25%) TP2 @ 148.50 (shaving 25%) TP3 @ 145.33 (shaving 25%) TP4 @ 143.00 (shaving 25%) TP5 @ 138.50 (closing ALL Sell Orders) BLO @ 137.90 (15H) ⏳👈🏾 ADDITIONAL INFO: Unfortunately, our previous short position was "stopped out" because I based my analysis on my Oanda chart, which had...
SLO2 @ SLO1 @ TP1 @ TP2 @ TP3 @ ADDITIONAL INFO: Yep. I'm revenge trading. I lost over $3000 trading short using the Oanda chart — thinking it was ready to short — but according to the FXCM chart, there is still a considerable amount of upside potential.
AUDJPY continues to trade inside a Channel Down, testing today the 1D MA50 after a continuous 1 month counter trend rise. For the time being this is rise similar to the one that was completed on February 14th and made the latest Lower High on the Channe Down. The ideal short entry is between R1 and the 1D MA200. We set a long term target on AUDJPY on the bottom...
The CHFJPY pair traded exactly as we expected more than 1 month ago, rebounding on the 2021 Higher Lows trend-line and hitting out 147.500 target: Today we see an impressive green 1D candle, indicating that the rally that started back then will have an extension. The 1D RSI indicates that we enter the final bullish leg of a sequence similar to June 2022. This...