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Japanese Yen E-mini Futures (J71!), 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 price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 0.007784 where the pullback resistance, 127.2% fibonacci extension and 78.6% fibonacci retracement are. Alternative scenario: Alternatively, price could drop to the 1st support at 0.007490 where the pullback support is. Fundamentals: Since it was stated that the central bank won’t hesitate to add stimulus if the economy needs it, we have a bullish view on the Japanese Yen.
CME_MINI:J71!Long
by Genesiv
JAPANESE YEN FUTURES (6J1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 0.0079195 Pivot: 0.0076525 1st Support : 0.0074905 2nd Support: 0.0074080 Preferred Case: On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 0.0076525 where the swing high resistance and 61.8% fibonacci retracement are. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 0.0079195 where the swing high resistance and 161.8% fibonacci extension are. Alternative scenario: Alternatively, price could drop to the 1st support at 0.0074905 where the pullback support is. Once there is downside confirmation that price has broken 1st support structure, we would expect bearish momentum to carry price to 2nd support at 0.0074080 in line with pullback support. Fundamentals: Since it was stated that the central bank won’t hesitate to add stimulus if the economy needs it, we have a weak bullish view on the Japanese Yen.
CME:6J1!Long
by Genesiv
Potential Bullish ContinuationTitle: JAPANESE YEN FUTURES ( 6J1! ), H4 Potential for Bearish Momentum Type : Bullish Momentum Resistance : 0.007487 Pivot:0.007400 Support : 0.007309 Preferred Case: On the H4, with price moving above the ichimoku cloud and in an ascending trend channel and RSI showing an ascending trendline, we have a bullish bias that price will continue to rise from the pivot at 0.007400 in line with the pullback resistance to the 1st resistance at 0.007487 in line with the 61.8% fibonacci projection . Alternative scenario: Alternatively, price may reverse off the pivot and drop to the 1st support at 0.007309 at the overlap support in line with the 50% fibonacci retracement . Fundamentals: Japanese Finance Minister Suzuki said that the Japanese government is concerned about the Yen’s recent rapid weakening, giving us a bearish bias on the Japanese Yen.
CME_MINI:J71!
by Tickmill
1
Potential Bullish ContinuationTitle: JAPANESE YEN FUTURES (6J1!), H4 Potential for Bearish Momentum Type : Bullish Momentum Resistance : 0.007487 Pivot:0.007400 Support : 0.007309 Preferred Case: On the H4, with price moving above the ichimoku cloud and in an ascending trend channel and RSI showing an ascending trendline, we have a bullish bias that price will continue to rise from the pivot at 0.007400 in line with the pullback resistance to the 1st resistance at 0.007487 in line with the 61.8% fibonacci projection . Alternative scenario: Alternatively, price may reverse off the pivot and drop to the 1st support at 0.007309 at the overlap support in line with the 50% fibonacci retracement . Fundamentals: Japanese Finance Minister Suzuki said that the Japanese government is concerned about the Yen’s recent rapid weakening, giving us a bearish bias on the Japanese Yen.
CME_MINI:J71!Long
by Genesiv
Micro USD/JPY Futures (M6J1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 136.42 Pivot: 135.00 Support : 133.53 Preferred Case: On the H4, since price has broken out of an ascending trendline and is moving below the ichimoku indicator, we have a bearish bias that price will drop from the pivot at 135.00 where the pullback resistance is to 1st support at 133.53 in line with swing low support, 61.8% fibonacci retracement and 100% fibonacci projection . Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 136.42 where the pullback resistance is. Fundamentals: The weakening of the DXY should provide relief for the Japanese businesses that are hurt from the weakening of the Yen. This gives me a bullish bias for USDJPY.
MLong
by Genesiv
Micro USD/JPY Futures (M6J1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 137.22 Pivot: 136.44 Support : 134.06 Preferred Case: On the H4, with price moving below the ichimoku indicator and has broken the ascending trendline, we have a bearish bias that price will rise and drop from the pivot at 136.44 where the pullback resistance, 78.6% fibonacci projection and 38.2% fibonacci retracement are to 1st support at 134.06 in line with swing low support, 161.8% fibonacci extension and 61.8% fibonacci retracement . Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 137.22 where the pullback resistance and 61.8% fibonacci retracement are. Fundamentals: Due to the high volatility in USDJPY , we have a bearish bias on the USDJPY forex pair.
M
by Tickmill
Micro USD/JPY Futures (M6J1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 137.22 Pivot: 136.44 Support : 134.06 Preferred Case: On the H4, with price moving below the ichimoku indicator and has broken the ascending trendline, we have a bearish bias that price will rise and drop from the pivot at 136.44 where the pullback resistance, 78.6% fibonacci projection and 38.2% fibonacci retracement are to 1st support at 134.06 in line with swing low support, 161.8% fibonacci extension and 61.8% fibonacci retracement . Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 137.22 where the pullback resistance and 61.8% fibonacci retracement are. Fundamentals: Due to the high volatility in USDJPY , we have a bearish bias on the USDJPY forex pair.
MShort
by Genesiv
Micro USD/JPY Futures (M6J1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 137.22 Pivot: 136.44 Support : 134.06 Preferred Case: On the H4, with price moving below the ichimoku indicator and has broken the ascending trendline, we have a bearish bias that price will rise and drop from the pivot at 136.44 where the pullback resistance, 100% fibonacci projection and 38.2% fibonacci retracement are to 1st support at 134.06 in line with swing low support, 161.8% fibonacci extension and 61.8% fibonacci retracement . Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 137.22 where the pullback resistance, 78.6% fibonacci projection and 61.8% fibonacci retracement are. Fundamentals: Due to the high volatility in USDJPY, we have a bearish bias on the USDJPY forex pair.
MShort
by Genesiv
Micro USD/JPY Futures (M6J1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 138.73 Pivot: 137.22 Support : 136.38 Preferred Case: On the H4, with prices moving above the ichimoku indicator and along the ascending trendline, we have a bullish bias that price will rise from the pivot at 137.22 in line with the pullback support to the 1st resistance at 138.73 where the swing high resistance and 61.8% fibonacci projection are. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 136.38 in line with the pullback support, 50% fibonacci retracement and -27.2% fibonacci expansion . Fundamentals: With the BoJ monetary policy statement due on Thursday and the BoJ reaffirming its commitment to maintaining the current path of ultra-loose monetary policy , the weakness in the Yen is likely to persist, hence we have a bearish bias on the USDJPY forex pair. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
M
by Tickmill
Micro USD/JPY Futures (M6J1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 138.73 Pivot: 137.22 Support : 136.38 Preferred Case: On the H4, with prices moving above the ichimoku indicator and along the ascending trendline, we have a bullish bias that price will rise from the pivot at 137.22 in line with the pullback support to the 1st resistance at 138.73 where the swing high resistance and 61.8% fibonacci projection are. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 136.38 in line with the pullback support, 50% fibonacci retracement and -27.2% fibonacci expansion. Fundamentals: With the BoJ monetary policy statement due on Thursday and the BoJ reaffirming its commitment to maintaining the current path of ultra-loose monetary policy, the weakness in the Yen is likely to persist, hence we have a bearish bias on the USDJPY forex pair. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
MLong
by Genesiv
Micro USD/JPY Futures (M6J1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 138.78 Pivot: 137.22 Support : 136.44 Preferred Case: On the H4, with prices moving above the ichimoku cloud and within the ascending channel , we have a bullish bias that price will rise from the pivot at 137.22 in line with the pullback support and 61.8% fibonacci projection to the 1st resistance at 138.78 where the swing high resistance is. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 136.44 in line with the pullback support, 50% fibonacci retracement and 100% fibonacci projection . Fundamentals: Due to the dovish overall sentiment of yen, we have a bearish view of the USDJPY . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
M
by Tickmill
Micro USD/JPY Futures (M6J1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 138.78 Pivot: 137.22 Support : 136.44 Preferred Case: On the H4, with prices moving above the ichimoku cloud and within the ascending channel, we have a bullish bias that price will rise from the pivot at 137.22 in line with the pullback support and 61.8% fibonacci projection to the 1st resistance at 138.78 where the swing high resistance is. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 136.44 in line with the pullback support, 50% fibonacci retracement and 100% fibonacci projection. Fundamentals: Due to the dovish overall sentiment of yen, we have a bearish view of the USDJPY. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
MLong
by Genesiv
Potential Bearish ContinuationOn the H4, with price moving below the ichimoku cloud and in a descending trend channel and trendline, we have a bearish bias that price will continue to drop from the pivot at 0.007296 in line with the pullback resistance, 61.8% fibonacci projection and -27.2% fibonacci expansion to the 1st support at 0.007126 in line with the -61.8% fibonacci expansion and 100% fibonacci projection. Alternatively, price may reverse off the pivot and rise to the 1st resistance at 0.007362 at the overlap resistance in line with the 50% fibonacci retracement. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
CME_MINI:J71!Short
by Rockqet
JAPANESE YEN FUTURES (6J1!), H4 Potential for Bearish MomentumType : Bearish Momentum Resistance : 0.0073705 Pivot: 0.0073385 Support : 0.0072935 Preferred Case: On the H4, with price moving below the ichimoku cloud and along the descending trendline, we have a bearish bias that price will rise and drop from the pivot at 0.0073385 in line with the pullback resistance to the 1st support at 0.0072935 where the swing low support and 61.8% fibonacci projection are. Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 0.0073705 where the pullback resistance, 50% fibonacci retracement and -27.2% fibonacci expansion are. Fundamentals: Japanese Finance Minister Suzuki said that the Japanese government is concerned about the Yen’s recent rapid weakening, giving us a bearish bias on the Japanese Yen.
CME:6J1!Short
by Genesiv
Potential for Bullish ContinuationOn the H4, with price recently breaking the descending trendline and moving above the ichimoku cloud , we have a bullish bias that price will continue to rise from the pivot at 0.007372 at the swing low in line with the 61.8% fibonacci projections to the 1st resistance at 0.007489 at the swing high in line with the 23.6% fibonacci retracement and 100% fibonacci projection . Alternatively, price may reverse off the pivot and drop to the 1st support at 0.007342 at the swing low in line with the 78.6% fibonacci projection . Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
CME_MINI:J71!Long
by Rockqet
2
Seasonal Futures Market Patterns Japanese Yen USD/JPY Hey traders today I wanted to go over the best Seasonal Patterns in the Japanese Yen Futures or USD/JPY in the Forex Market. The Japanese Yen Futures follows an annual seasonal pattern also correlated with other markets including stocks and bonds. Also the Bank of Japan can heavily influence this market. Knowing when to find these seasonal market patterns on your charts can really benefit us in our trading of the USD/JPY and Japanese Yen Futures. Enjoy, Trade Well Clifford
CME:6J1!
by TradeTheIndex
6J1! - Could Be About To Knock Your Socks Off YEN Futures recently a 20 year low. It has just below also hit a long term 1:0.618 taking the 3 waves from the top. Considering the significance of the low it should at least have a strong automatic rally and as shorts cover their positions. But it may also go on a real rally, perhaps even an enormous rally. Fibs on the chart - a 0.5 retracement from the top could see it getting back to the area of previous tops and strong resistance at $0.0099. Monthly RSI is down at 18. I would think it will get back at least to 60 - 70 area before a potential downside reversal. Am bullish JPY against any pair currently and am short CADJPY. Not advice.
CME:6J1!Long
by dRends35
Potential for Bullish ContinuationOn the H4, with price recently breaking the descending trendline and moving above the ichimoku cloud, we have a bullish bias that price will continue to rise from the pivot at 0.007372 at the swing low in line with the 61.8% fibonacci projections to the 1st resistance at 0.007489 at the swing high in line with the 23.6% fibonacci retracement and 100% fibonacci projection. Alternatively, price may reverse off the pivot and drop to the 1st support at 0.007342 at the swing low in line with the 78.6% fibonacci projection. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
CME_MINI:J71!Long
by Rockqet
1
JAPANESE YEN FUTURES (6J1!), H4 Potential for Bearish MomentumType : Bearish Momentum Resistance : 0.0074895 Pivot: 0.0074195 Support : 0.0073570 Preferred Case: On the H4, with price moving below the ichimoku cloud and along a descending trendline, we have a bearish bias that price will rise and drop from the pivot at 0.0074195 in line with the pullback resistance to the 1st support at 0.0073570 in line with the 100% fibonacci projection and horizontal swing low support. Alternative scenario: Alternatively, price may break the pivot structure and rise to the 1st resistance at 0.0074895 where the swing high resistance, 50% fibonacci retracement and 61.8% fibonacci projection are. Fundamentals: Yen weakness could continue, evident with the USDJPY rebounding from support to trade above 135 overnight, giving us a weak bearish bias towards yen.
CME:6J1!Short
by Genesiv
JAPANESE YEN FUTURES (6J1!), H1 Potential for Bullish RiseType : Bullish Rise Resistance : 0.0076510 Pivot: 0.0074900 Support : 0.0073605 Preferred Case: On the H1, price is moving above the ichimoku cloud which supports our bullish bias that price will rise to the pivot at 0.0074900 where the swing high resistance, 50% fibonacci retracement and 61.8% fibonacci projection are. Once we have upside confirmation, we would expect bullish momentum to carry price to 1st resistance at 0.0076510 in line with swing high resistance and 100% fibonacci projection . Alternative scenario: Alternatively, price drop to the 1st support at 0.0073605 in line with the swing low support. Fundamentals: Despite key figures commenting about how a weaker Yen is deterimental to the Japanese economy, the BoJ’s policy path is still divergent to other central banks, giving us a bearish bias for the Japanese Yen.
CME:6J1!Long
by Genesiv
The Yen is in for a world of hurtIf you see here the Yen futures history from the perspective of the monthly chart, you can see a pretty clear cut H&S pattern, with a downside target of a 40% to the downside. Basically, the jig is up for the Bank of Japan, their scheme is gonna fall apart. I think they hold like a trillion US dollars worth of US equities too so you can imagine them dumping all that shit to try to hold up their currency as it death spirals. I don't know anything, but I know that I'm short yen.
CME:6J1!Short
by skreep
JAPANESE YEN FUTURES (6J1!), H1 Potential for Bullish RiseType : Bullish Rise Resistance : 0.0075575 Pivot: 0.0074695 Support : 0.0074205 Preferred Case: On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from our pivot at 0.0074695 in line with the overlap support and 61.8% fibonacci retracement to 1st resistance at 0.0075575 in line with the 127.2% fibonacci extension and swing high resistance. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 0.0074205 where the swing low support, -61.8% fibonacci expansion and 100% fibonacci projection are. Fundamentals: As the Bank of Japan adjusted the auction schedule and amounts, conducting additional outright purchases of JGBs and increasing the amount of purchases, paired with an aggressive 75bps rate increase from the FOMC. Anticipation is for the Japanese Yen to find its footing against the USD and test higher. This gives us a bullish view for the japanese yen.
CME:6J1!Long
by Genesiv