🔰You see the analysis of the US dollar against the Japanese Yen in Daily ( USDJPY , D1)❗️🔎
🔰SELL USDJPY at 125.600
✅TP ; 122.00
❌SL ; 126.300
🔰As is evident from the analysis, considering the price in the sales supply area in this range, it seems logical that the target is placed at the confluence of the demand area (orange) and the uptrend support line (white...
🔰You see the analysis of the GBP against the Japanese Yen in Daily ( GBPJPY , D1)❗️🔎
🔰SELL Limit GBPJPY at 164.150
✅TP ; 157.300
❌SL ; 166.700
🔰Considering the price being in the range of white downtrend line and supply range, selling in this area seems reasonable. The target is placed at the confluence of the uptrend line (white dotted line) and the orange...
With the exception of USDJPY (it looks a bit tricky) all JPY crosses are giving clear bearish signals.
I am looking to take a short on CADJPY. The support at 88.30 has been convincingly broken. This happened on 30th Nov as well but subsequent bullish recovery attempts were quite weak by comparison. I believe that after a retest of this previous support, we will...
Time Frame: 4H
We hope that the down trend will continue as there is no strong support for bouncing back. The price pattern of moving down forward will prove itself by adjusting the price patterns. as we know history repeats itself.
The JPY-BASKET is currently testing a strong resistance-zone after the breakout of a triangle 👉
So far sellers are taking some action and try to defend their zone which could lead to a pullback back down to the 61,8% fib-level.
A little bit suspicious is that a tringale usually contains 4 Waves, from A-D. Since a triangle is always a...
with the retest of the previous breakout we could see another impulse upwards as UR YIELDS are currently falling, which is basically good for JPY.
Interesting to watch would be AUD/JPY, NZD/JPY, EUR/JPY aswell as GBP/JPY since all these curencies against the major USD were very weak today as expected.
JPY-Strenght could cause JPY-PAIRS to...
Its the same old story 👉 The market awaits more inflation-data from the USA aswell as the European Central Banks meeting to get any hints for possible tighter monetary policy plans.
On thursday we get a bunch of important data, such as the U.S. initial jobless claims, U.S. CORE CPI and the ECB Interest Rate Decision which is probably a...
The JPY is in the middle of a huge flag and building for a massive breakout by the end of next week. The JPY pairs should make a huge move this week. My personal trade of the week is the GBPJPY. The GBPJPY has a massive channel on the 4 Hour or Daily (see chart below). I will buy a bounce off of support. If support fails, I might sell, but I'll wait for strong...
As shown on the chart, based on Elliot wave count, the corrective wave 4 has ended, this give an opportunity to trade the last motive wave 5.
This is in confluence with the 50 to 61.8 fib level of BC a 5-0 pattern, expecting to trade the D leg
The risk reward ratio is 3.7
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