The J6 has returned to the scene of the crime and has kissed it good bye. A breach of the 8388 are and we will goto a lower time frame to look for a trigger. This will support higher equity prices.
Some good support and resistance technical levels with an ascending channel formed with three highers highs and three higher lows. The triangle which started formation in January recently broke out but met resistance at the current ascending channel. Therefore, we should see a bullish bounce either at the next support level or at the triangle cradle; where there...
The J6 has broken out of it's pattern. This is bullish for equities and could place pressure on the indices. See our weekly outlook: youtu.be
We can see a potential cypher is forming on 4H TF AUDJPY which is completing around 95.70 area. We may sell this pair from 95.70-90 area targeting 93.40 & 92.50 as TP2.
This is another chart based on harmonics on USDJPY H4. This is a Gartley which will completes around 119.70.80 area which indicates, this pair may have a fall / reversal from this PRZ (Price Reversal Zone). As par this chart, we may have a short trade on this pair from 119.70-80 area where we can stop at 121 even. We may let this target open to suit our targeted...
USD/JPY started the last week breaking below a descending triangle, but was not able to extend lower. Instead it continued to consolidate, and surged after the NFP report. In this chat we can see that the market is on the upper Trendline of a triangle which is now in a challenging situation. If this dynamic resistant zone break successfully, it will expose the...
GBPJPY found support at the 178.0 level. If you zoom out to weekly chart you would see a huge upward trend channel started back in 2012. It's a good opportunity that the trend holds and we see a upward move. From the fundamental point both National Banks BoE and BoJ are holding their interest rates at a record low. TP1 185 TP2 189.4 SL 177
Hey there, as we can see Pound is pounding Yen in last two days. Some positive data took it this high where ABCD Pattern completed at 181.39-40 area. Which is giving us indication to have a short entry. I took two entry from this pattern though I need to make sure this pattern is being respected as it is still in the PRZ. My entry will be shorting from 181.40-45...
The $USDJPY has been trading inside this triangle formation approx two weeks. In which direction you think $USDJPY will make its break? From a longer term point of view, I'm bearish $USDJPY, but can't it make another upward leg? What do you think? Tomorrow we will probably get the answer
two scenarios which could happen. price could bounce off the support turned resistance where it is at now or it could extend higher and then bounce off the next structure level.
Betting on the Euro resuming trending downwards against the Japanese Yen. Stop loss set at 50% ATR and last high.
Our previous attempt to go long did not have follow through hence essentially a scratch trade. However is worth looking at again, hence - below is the updated details from the previous chart. In my view most YEN pairs have completed the bullish cycle from moving of the 2011 low. Hence many have formed a top or are in process of doing so. CAD has been on...
Entry = + CCI cross. SL= D point @ 93.93 TP1 = 100% fib @ 106.45
First profit target should be at previous key resistance. Hopefully, we can catch a bigger uptrend with the remaining position. Trendline starts from mid-October if you look the daily chart!
I like to think that each currency pair has its own genetic code. Some pairs move very harmonically, some pairs do not. One of the reason that I like to keep my trading portfolio small is so that I can get a good feel for how each pair likes to move. Over the past few years I noticed that the USDJPY likes to go on these insane rallies....followed by consolidation...
Hi Yen Risk Takers, Straight to the point> (1) USDJPY is generally trading in a Bullish Environment Since Oct 2013. (2) We note a very clear immediate Elliott Wave formation developing. Currently price is in Corrective Wave 4 with possible Wave 5 projected in the future. Seasoned Elliotticians should be able to spot a bigger Elliott wave at a higher...
Rate of inflation has been falling since June 2014. A total of 0.9% damaging any prospects we will see a rate increase near term. The Yen remains weak against the Dollar due to monetary policy divergence but with the sovereign debt crsis remerging in Europe, the Yen will even out against the European currencies. Potential Crab setting up, we could see 176.16...
UPDATE 23rd DEC In London right now and just had my porridge and what do you know I spot a bullish flag. These are very common when using ABCD Fibonacci extensions. This technical analysis concurs with my previous eurjpy analysis tagged below and shows a higher target than I previously anticipated. This geometrical formation has given me more confidence in...