Japan are to revise statement with central bank to water down price target(source Reuters). If this is the case this is significant and i would expect the JPY to continue its trand up against the US dollar, taking out weekly and monthly highs and targeting the purple box which is the first area of confluence. This sits just below the 22Q3 high and the 50% retace...
Cosmic Gravity is giving bullish signals on the 1D Japanese Yen futures chart as price breaks through important resistance levels after hitting major support. Stop loss is set 2% from the current price and take profit at the top of the support channel.
CME: Micro USD/JPN Futures ( CME_MINI:M6J1! )
On September 21st, the Fed raised interest rate for the fifth time. The very next day, Bank of Japan decided to keep the country’s short-term interest rate at -0.10%. On November 3rd, the Fed raised another 75 bps, and the Fed Funds rate is now 3.75-4.00%.
Interest rate spread between the two countries now reaches 4%....
JPY futures price falls hard to Cosmic Gravity "S6 Line" (🧐) and reverses to head for a "Support Channel" test. Watch how price interacts with this important level as it usually serves as a signal to what's to come.
The Japanese Yen is in uncharted territory with the Dollar absolutely POUNDING the Yen into submission. Today was the first time since June 1998 that the Bank of Japan announced it would purchase Yen in an attempt to slow down the depreciation of the Yen.
Nobody gives a damn about Forex, so why is this important? Well 1) Yen makes up the second largest weighting...
Type : Bullish Rise
Resistance : 0.0071705
Pivot: 0.0070675
Support : 0.0069015
Preferred Case: On the H4, with price moving along the ascending trendline and RSI is showing an ascending trendline, we have a bullish bias that price may rise from the pivot at 0.0070675 where the 23.6% fibonacci retracement is to the 1st resistance at 0.0071705 where the 38.2%...
Type : Bearish Drop
Resistance : 0.0072125
Pivot: 0.0070865
Support : 0.0070165
Preferred Case: On the H4, with price moving below the ichimoku indicator, and within the descending trendline, we have a bearish bias that price will drop from pivot at 0.0070865 where the current price and 78.6% fibonacci projection are to the 1st support at 0.0070165 where the 100%...
6j1! having a nice little bounce here at support to pop back above the 20 year low also a 1:0.618 long term fib extension just below.
This has already had the fear test plunge followed by rocketing automatic rally and now has pulled back to the 20 year low again.
May meander, may pump - who knows really but this is the big one mark my non financial advice...
Type : Bullish Rise
Resistance : 0.0074025
Pivot: 0.0073045
Support : 0.0072360
Preferred Case: with the price moving within the descending trendline and crossing below the MA, we have a bearish bias that the price may drop to the pivot at 0.0073045, where the previous swing low is. If the pivot is broken, we can expect the price drop to the 1st support at...
Type : Bullish Rise
Resistance : 0.0074025
Pivot: 0.0073045
Support : 0.0072360
Preferred Case: with the price moving within the descending trendline and crossing below the MA, we have a bearish bias that the price may drop to the pivot at 0.0073045, where the previous swing low is. If the pivot is broken, we can expect the price drop to the 1st support at...
Type : Bullish Rise
Resistance : 138.35
Pivot: 137.05
Support : 135.30
Preferred Case: On the H4, with the price moving within the ascending channel and above ichimpku cloud, we have a bullish bias that the price may rise from the pivot at 136.89, which is in line with the overlap resistance to the 1st resistance at 138.29, where the swing high is.
Alternative...
Type : Bullish Rise
Resistance : 138.35
Pivot: 137.05
Support : 135.30
Preferred Case: On the H4, with the price moving within the ascending channel and above ichimpku cloud, we have a bullish bias that the price may rise from the pivot at 136.89, which is in line with the overlap resistance to the 1st resistance at 138.29, where the swing high is.
Alternative...
Breaking down and landing well with breaking the strong support area and trading underneath and through this simplified technical analysis we note that it will continue to fall to the lowest areas of very strong demand
Type : Bearish Drop
Resistance : 0.0075890
Pivot: 0.0074140
Support : 0.0073120
Preferred Case: On the H4, with the price moving below the ichimoku cloud and breaking the ascending trendline, we have a bearish bias that the price may drop from the pivot at 0.0074140, which is in line with the pullback support, 61.8% fibonacci retracement and 61.8% fibonacci...
Type : Bullish Rise
Resistance : 138.65
Pivot: 135.31
Support : 130.00
Preferred Case: On the H4, with prices moving above the ichimoku indicator, the MACD histogram is above zero and the RSI moving along the ascending trendline, we have a bullish bias that price may rise from the pivot at 135.31 where the 61.8% fibonacci retracement is to the 1st resistance at...
Type : Bullish Rise
Resistance : 0.007784
Pivot: 0.007629
Support : 0.007490
Preferred Case: On the H4, with prices moving above the ichimoku indicator and broken out of the descending channel , we have a bullish bias that price will rise to the pivot at 0.007629 where the overlap resistance and 61.8% fibonacci retracement are. Once there is upside confirmation...
Type : Bullish Rise
Resistance : 0.007784
Pivot: 0.007629
Support : 0.007490
Preferred Case: On the H4, with prices moving above the ichimoku indicator and broken out of the descending channel, we have a bullish bias that price will rise to the pivot at 0.007629 where the overlap resistance and 61.8% fibonacci retracement are. Once there is upside confirmation of...
