The YEN pair shows rejection on the weekly support, and a clean morning star doji candle on the 4-Hour chart, We are expecting a retrace to the buy zone of 61.8 - 78.6 (which is in confluence with previous support). I will be looking for buy entries there....for a Strong Buy lasting til end of the year.
JPY Futures have recently run in to strong resistance. Last few days of price action indicate a pre-breakout squeeze to the downside. Watching for trend change in JPY pairs...
Been a quiet week thus far but have some pairs finally moving. The Pound pairs are looking good. Here is GBPJPY. Created a head and shoulders at a support zone and we got a very nice and strong break of the neckline. First target would be the 132.50 zone.
Take a look at the USDJPY 4 hour chart. Nice downtrend with multiple waves, and we can see a potential head and shoulders pattern here. Not a textbook head and shoulders, but it shows a possible shift in trends from lower highs to now higher lows. Await for the break above the neckline/resistance/flip zone at the 106.70 zone. Patience. We want a nice and strong...
See chart for illustration
The Yen pairs will also benefit from my theory on equities going higher on hopes and promises of more stimulus coming to keep stocks propped up. Both charts are similar and are at very important support levels and are showing signs of trend exhaustion. We are not making anymore lower highs and lower lows. You can say we are perhaps going to make a head and...
In this timeframe the tp is about 66 which indicates that the yen demand is going to be increased.
We have had a nice downtrend with lower highs and lower lows, and we are approaching a support zone if you zoom out on the daily chart or 4 hour. We bounced at the 71 zone which is a good confluence to our trade. You can see where we are on the chart that we look to be forming a head and shoulders pattern. Also, if we break above the neckline, we also break...
GBPJPY looking interesting on the 2 hour chart. We have what looks like a double bottom, and also what could be a head and shoulders in the making. Again, all a head and shoulder indicates is a shift in trends. If we get a break and close ABOVE the 129.80 zone, we confirm a higher low and the head and shoulders break.
The Yen pairs showed amazing moves the past week...the traditional idea is to run into the Yen as a safe haven. Many claim the Japanese yen will actually out perform the US Dollar when it comes to a safety play during this confidence crisis/reset. Why? Japan still has one of the highest savings rate in the western world. They also have a large manufacturing...
Similar things can be said that I have said for EURJPY that I just posted. We held the 82.20 support zone, and now broke the neckline of the head and shoulders at 82.70. I would await to see how this next candle closes to see if we hole the neckline. Again, given the type of week we have I would be a bit more careful trading the Yen Pairs. First target zone...
Supplement to: ZECUSDT/6QOHSMU5-ZCash-buy-in-opportunity Privacy coins occupy a function within the cryptocurrency industry that many of the early adopters of cryptocurrencies consider essential. Bitcoin itself is often incorrectly referred to as an anonymous way of transferring value. Security experts call it pseudonymous privacy, like writing books under...
Reversal pattern forming, shooting star, bearish candle, price revisited earlier Potential downside and JPY devaluation to demand zone
As the moving averages of the Ichimoku are coming together building support, GBPJPY could be long this week. Most of the smaller time frames are above the cloud. Therefore, a buy or long is getting ready to setup into play.
Market is giving signals in lower time frame to meet higher time frame targets, Deep crab is forming as market has not broke the structure yet its bearish...
From my analysis, JPY is ready to fall and couple of currency pairs could gain while yen is taking its bite. Currency pairs to watch include: EURJPY, NZDJPY & GBPJPY. CHFJPY has led the pack already, but a pullback to support might not be a bad trade either. My 2 targets entries for EURJPY are 121.920 and 121.360 with a stop loss placed 10 pips below June 3 low....
-WATCH FOR BREAKOUT -WAIT FOR RETEST -EXECUTE WITH CONFIRMATION
OANDA:CHFJPY More details on the chart. Happy pips, Keep it simple, Pipdified.