I think the long term trend of bullish gold/yen may be in beginning stages of reversing. On a daily chart, the KYT indicator has turned bearish. The M.F.I gave an amazing overbought signal earlier this month, but I still believe we will see this pair head lower. I look for the supportive Gann angles of around $1360 to be hit.
Chart of the day: USDJPY. Safe-haven buying kicked in heavily Tuesday, also giving a boost to other local Asian currencies. Geopolitical unrest levels have risen substantially over the last few weeks: Syria, N.Korea, Russia and this has led to a move to buy those 'safer' assets. Gold, Yen all should benefit from the uncertainty.
On the Kagi chart the Yen is now...
After the missile launch by Trump the Yen gained strength, however it doesnt seem like it gained enough strength to bring this pair lower. Indicating to me that this UJ pair is probably going to go up. We just have to wait for this line to be broken and retested. If it is broken, we can see price going back to 115.
I will take this setup on EUR/JPY when all things are in place. So what we see on this chart is strong support in longer uptrend, RSI is holding it's line and Fib should hold it's level on 0,618 for bounce up.
Hey traders, I like the yen short this week and potentially the weeks to come. Many EW counts leading to continued downside. Details and wave count on chart. Cheers
It has met its first target already. Expecting some pullback or consolidation to happen first. From there we can see if Yen would have strength for another run.
There are several divergences on volume on way up. There is also increasing volume on down swing. This is bearish change behaviour. I expect move down on Yen future. It means on forex pair USDJPY.
I see a weekly low test rejecting the weekly 51EMA, that lead to an intraday double bottom giving price momentum to break and retest the H1 51EMA. A break and close above 111.5 will present weekly tweezer bottoms for the following week. Lots of upside potential
Pound repeats pattern of 2008/09 crash.
That means British economy is in crisis already.
It was mainly caused by Brexit referendum.
Drop in GBPJPY will continue until 2019/20
Price is currently sitting on a major support in the 110.230 area. If it breaks through and closes below, expect s continued downside trend. It may also bounce back off of the 110.230 support and climb its way back up to the 112.000 resistance area
If we can hold 118.200 on EURJPY I will be entering a long on Monday night. Stops and targets are on the chart.
I think that the EURO is likely to gain strength, as Europe is getting inflation. This long will work as an investment, and not a swing- or daytrade.
Happy trading out there!
Sounds like a book title.!
Falling Wedge + price heading for resistance. we can expect 113-114
Enjoy.
Comment below. for more frequent signals message me.
PRICE HAS BROKEN SUPPORT LEVEL 111.374 AND HAS COME BACK TO RETEST IT AS RESISTANCE
ALTHOUGH A HEAD AND SHOULDER PATTERN HAS PRINTED ON A LOWER TIME FRAMES IT IS NO LONGER VALID AS PRICE HAS FAILED TO BREAK PAST RESISTANCE
I AM LOOKING TO SHORT THIS PAIR UNTIL IT CONSOLIDATES POSSIBLY TAKING PROFITS AT 108.XXX
i WILL KEEP MONITORING THIS PAIR AS IT PUSHES TO LOWER LOWS
OANDA:USDJPY looks like its bouncing back up after a severe downmove forming a nice channel.
4H Timeframe View:
It was able to pullback and even retest the 20MA in the 4H timeframe so it will be great if it touches the 50MA(yellow line) and hold above it for a confirmation of the short term uptrend.
Long: 111.342
Stop: 111
It might still pullback to test...
We looked at the AUDJPY on Thursday of last week. At the time the pair was trading just below the 85.35 handle, a level that’s served as a pivot since the new year began.
The idea was to watch for a sell signal from new resistance. However, Thursday closed at 85.51, which canceled out any notion of shorting the cross. I wasn’t interested in buying the pair on the...
