Mexican Peso/Japanese Yen

SAXO

MXNJPY

i just want your view?

Hi there. Price is forming a reversal pattern to change its direction. Watch strong price action at the current price for buy.

MXNJPY, suspect down, price on strong weekly resistance area. jpy strength suspect ahead, mxz is extreme bearish divergence.

Long MXNJPY @ 5.615; TP @ 5.728, SL your choice

Short MXNJPY @ 5.97; TP @ 5.8512, SL your choice

long

momentum is for 12 cents higher (1200 pips)

Eye on support at 5.78...

My yen index bounced of support on Friday. It reached both the 50% retracement fib and the 61.8% extension of the first swing. Also it reached 2 trendlines, one ascending from the lows, the other forming the support line of a falling wedge. The RRR lies on the long side against such support.

Presidential Election - Trump wins - MXN more sensitive than USD, Yen to pick up the risk-off shift: 1. Positioning for a trump win is much more interesting than a hilary win but nonetheless both should be profitable at some level. My number 1 position will be SHORT MXNJPY for a number of reasons 1) MXN has been very sensitive to the USD election given trade...

MXN seems to have gone too far, owning MXNJPY into and beyond the US elections, should resolve in some fantastic total returns if the timing is right.

Highly similar to the CADJPY & CADCHF situation; this pair is also going to break out to more downsides... (I'm also expecting Crude Oil's temporary rally to end quite soon, & then resume to some lower lows...) Additionally, the Japanese Yen (or JPY) is also known to be a very strong safe-haven currency; & it is most likely set to get progressively stronger for...

Consolidation along the upper edge of the wedge is showing a possible breakout to the upside.