I believe the area of 8.30 may be re-tested soon. Probably just a support re-test.
Starting with the pair which makes no sense at current levels, considering the most meager of rate differentials at +2.5% , were it not for the SNB's deranged policy of "supporting the Swiss Franc as an inflation fighting measure" (while Swiss inflation is barely holding at 2%!) and with the Swiss Franc already at nose-bleed levels. CHFJYP; a 50 year SHORT in...
The BoJ, if anything, made it's "guidance" even murkier (as if that were anyway possible) with it's most recent policy announcements. E.g., let's just say that the Yen, currently residing just below the miner-frog's hind quarters, has a better chance to start working it's way higher than otherwise. Simultaneously, the Mexican Peso, having just completed a couple...
MXNJPY $MXNJPY Initial Long (extremely high risk). This isn't even a tradable pair for most, but it's worth posting anyway. It's been chopped to h*ll the last few signals, let's see if we can pull out a win here. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
Oversold Yen , Peso Has Enjoyed The Commodities Strength Per The Bcom We Could See Weakness Oil Is Generally The Last To Drop In The Business Cycle Look Out Below If This Plays Out Great R/R Trade
MXNJPY $MXNJPY Initial Long. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
Saw a double top on the 4 hour graph and waited for the neckline break that happened in the last few candles. Set two targets. Aiming for the second one but you never know what might happen.
Fundamentally JPY has be strong ... Double rejection on the trend line. We also have double top. Then we also have bearish candle closed. You can enter this trade when market opens. or we wait for breakout... or price to break and reject EMA. So basically we are on shorting opportunity
The Mexican Peso is gaining strength against the Yen as a recovery in global growth in 2021, reduces the demand for the safe-haven Yen and increases the demand for the Mexican peso. We look at why the Japanese Yen is a safe haven currency of choice, alongside Interest rate differentials that will play a key rol in the outlook for gains in the peso. I give...
JPY oversold relative to MXN Expect a rally, can be short term volatility Max divergence on MACD Stoch extreme oversold conditional Potential support area, look left to confirm if not then fade any rally on 4hr or lower time frames if not comfortable going long Why is Yen so oversold relative? When will support reveal? R/R 1.68 T/P .21 S/L .2040? Ask the Q to...
Possible short on this exotic pair with reasoning highlighted on the chart.
The JPYMXN seems to have no clear trend recently. An unstable situation could be a chance for traders! First, I use recent high and low to build a Fib and see if any candle reaches the fib lines. Luckily, I found one, and I marked the retracement with the black dashed line. This dashed line is at around 0.786 level, which is a hard level. Next, I found a falling...
The price is lowest in history so I was looking for a chance to buy, and yesterday there was a bullish pinbar, the price broke out of trend and formed a head and shoulder pattern.