AUD/JPY has reversed off a pullback resistance and could potentially drop lower from here. Sell entry is at market (97.359). Stop loss is at 97.850 which is a level that sits above the 61.8% Fibonacci retracement level and a pullback resistance. Take profit is at 96.896 which is a pullback support that aligns close to the 61.8% Fibonacci retracement level. ...
Is the AUD/JPY the trade to make at the beginning of the coming week? Both the BoJ and the RBA are delivering their latest interest rate decisions on Monday morning, 30 minutes from each other. The Bank of Japan is up first, at 11:00 pm on Monday (US time UTC –4). The Reserve Bank of Australia follow at 11:30 pm. What's expected from each bank? According...
AUD/JPY is showing a strong bullish momentum and could make a continuation towards our take-profit target. Entry: 97.692 Why we like it: There is a strong bullish momentum Stop Loss: 97.237 Why we like it: There is a pullback support level Take Profit: 98.132 Why we like it: There is a pullback resistance that aligns close to the 61.8% Fibonacci retracement...
GBP/JPY could fall towards a potential breakout level and drop lower towards our take-profit target. Entry: 188.070 Why we like it: There is a potential breakout level (wait for the 1-hour candle to close below 188.070 for a breakout confirmation) Stop Loss: 189.198 Why we like it: There is a pullback resistance that aligns with the 38.2% Fibonacci retracement...
Starting to see Yen strength materialise, with the BoJ looking to get out of the current cycle. Surely Yen can't go much lower against all of the G10, so expecting some moves in the coming week. We've been failing at the 171.8 high for weeks so this looks like consolidation to me now, ready for a push down. Starting this week with the CHF PCI data this...
Animal spirits are palpable in the Land of Rising Sun. Nikkei-225 smashed through it previous all-time-high set more than 40 years ago. Japanese equity markets have turned steaming hot over the past year after stagnation through lost decades. Strong foreign investment inflows, positive impact from the corporate governance reforms, portfolio rebalancing away...
USD/JPY is falling towards an overlap support and could potentially bounce off this level to rise towards our take-profit target. Entry: 146.264 Why we like it: There is an overlap support level Stop Loss: 144.356 Why we like it: There is a pullback support that aligns with the 61.8% Fibonacci retracement level Take Profit: 149.478 Why we like it: There is an...
The targets set for the Yen on February 19th have almost been reached. The uptrend still has a small potential to reach target number 2, but after that the Yen's downtrend will most likely continue. This is supported by COT reports and activity in option portfolios, which were formed on February 29 (at the local minimum) on the CME exchange. The prices of...
Japanese Yen has been very weak since start of the year, but we can see a three-wave A-B-C corrective decline on Japanese Yen Futures chart, which can be now completed by current sharp reversal up above important trendline. So, we believe that Japanese yen may now face a recovery in the upcoming days/weeks, maybe months, just be aware of short-term pullbacks.
EUR/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 161.964 which is a pullback support that aligns with the 78.6% Fibonacci projection level. Stop loss is at 161.32 which is a level that lies underneath an overlap support that aligns with a confluence of Fibonacci levels i.e. the 38.2%...
CHF/JPY is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 168.882 which is an overlap support. Stop loss is at 168.000 which is a level that lies underneath the 38.2% Fibonacci retracement and the 100.0% Fibonacci projection levels. Take profit is at 170.242 which is a pullback resistance. High...
AUD/JPY is falling towards a potential breakout level and could drop lower from here. Sell entry is at 97.361 which is a potential breakout level (wait for the current 1-hour candle to close below 97.361 for confirmation of the bearish breakout). Stop loss is at 97.900 which is a level that sits above a pullback resistance. Take profit is at 96.850 which is an...
NZD/JPY has broken below a potential breakout level and could drop lower from here. Sell entry is at 91.126 which is a potential breakout level (wait for the current 1-hour candle to close below 91.126 for confirmation of the bearish breakout). Stop loss is at 91.450 which is a level that sits above a pullback resistance. Take profit is at 90.605 which is a...
EUR/JPY is falling towards an overlap support and could potentially bounce off this level to rise towards our take-profit target. Entry: 161.910 Why we like it: There is an overlap support level Stop Loss: 161.405 Why we like it: There is an overlap support that aligns with the 38.2% Fibonacci retracement level Take Profit: 163.440 Why we like it: There is a...
AUD/JPY could fall towards a potential breakout level and fall lower towards our take-profit target. Entry: 97.360 Why we like it: There is a potential breakout level (wait for 1-hour candle to close below 97.360 for a breakout confirmation) Stop Loss: 97.815 Why we like it: There is a pullback resistance level Take Profit: 96.849 Why we like it: There is an...
Today's focus: USDJPY Pattern – Consolidation (Bullish?) Support – 149.84 Resistance – 150.81, 151.745 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the USDJPY on the daily chart. Simple story today: will the current price consolidation break higher (with trend) or break lower, setting off distribution? We find it's important...
After false breakout above 111.00 level, Canadian dollar will weak and send CADJPY under 107.00 Trade safe. Good luck.
GBP/JPY is falling towards a pullback support and could potentially bounce off this level to rise towards our take-profit target. Entry: 189.809 Why we like it: There is a pullback support that aligns with a confluence of Fibonacci levels i.e. the 23.6% and the 61.8% retracement levels Stop Loss: 188.999 Why we like it: There is a swing-low support that aligns...