Following the trend , price seems to at the lowest level where recent support was established , but waiting for a clear reversal signal with clear confluence , near 65.82 . Following wave theory price could over extend to that zone and clear price pattern structure could mean a clear reversal, with a flip in price near (@67.07, the recent lower high) in the lower...
Are you ready to embark on a profitable trading journey? Join us in seizing this golden opportunity by longing the yen. Here's your call-to-action:
1. Analyze the market: Conduct thorough research and analysis to understand the current market conditions and potential risks involved.
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Hello Traders,
📈 Daily chart review :
- it still keeping downtrend on.
- Price will retest at support zone again
📌News :
BOJ continues to maintain negative interest rate policy
🎯In my trading opinion:
If price moves nearby support and has a reversal, JPY may raise up next time.
Now, xxxJPY can keep continue up on
📚 Remember that: Always follow your trading...
In the realm of market trends and seasonality, January in the JXY index has historically exhibited a remarkable 70% bullish bias. However, the current scenario defies this pattern, with the JXY index experiencing a decline exceeding 3% until January 22, 2024. The peculiar nature of January's bullish inclination in recent years can be attributed to the pivotal...
How to identify the Three Drives pattern?
The three drives harmonic pattern is identified by various three higher highs or lower lows. They gather in a reversal of the existing trend. Every move lower or higher is quantified by using the Fibonacci extension and retracement levels of 61.8 and 127.2 percent.
In some instances, the definition of the 3-drive...
There is a Confluence of a Bullish Butterfly and a smaller Bullish Bat visible on the 5-day and Weekly timeframes on the JXY as the RSI ticks out of the oversold zone for the 4th time at this level while making higher lows each time. It would seem as if the JXY is confirming to us that it has reached a Harmonic Bottom and is preparing to rise up to some of the...
Japanese currency index has printed a double bottom. USD/JPY is near double top at 150.0 which is extremely psychological level in regards Japanese bank intervention. Fx traders are already in alert mode and getting ready. Will Japan support Yen this weekend? :)
Hello trader !
Seem like we are having SELL opportunity for all JPY related pair.
Since JXY is approaching strong weekly demand/support zone. We will expect JPY pair to go down.
Introduction:
In the ever-evolving world of currency trading, it's crucial for traders to stay informed about potential interventions by central banks. The recent Federal Reserve meeting has sparked speculation about the Bank of Japan's (BOJ) next move regarding the yen. This article aims to examine the likelihood of BOJ intervention and provide a cautious...
The Japanese yen has taken a tumble after the Bank of Japan's decision to hold interest rates steady. Meanwhile, the perfect trading scenario has emerged with the US dollar/DXY. It's time to capitalize on this golden opportunity and make some profitable moves! So, fasten your seatbelts and get ready to ride the wave of success.
The Bank of Japan's Impact:
The...
My first analysis about the JXY. It will be done periodically from now on to keep a fresh perspective over one of the most important currencies in the world.
The Japanese Currency Index (JXY) is a stock market index that measures the performance of the Japanese yen against a basket of six other major currencies: the US dollar, the euro, the British pound, the...
With BOJ ultra loose monetary policy, JPY value looking to depreciate overtime in long term.
Recently, with the news of Fukushima radioactive water release into the Pacific Ocean announced by Japanese government believe would be impact Yen, and making JXY value expect to fall as faster than expected.
The JPY index could begin a slight recovery, and we conclude this based on data on increased inflation, which would produce an intervention by the Bank of Japan. For targets, we are looking at Fibonacci 38.2%-61.8% range.
JXY index fall tremendously last week, greater than our expectation. Indicating weak buying sentiment at JXY previous support level at 69.00.
However, although we're expecting JXY will hit further lows in long term, next week may have a small bull(short term bullish outlook) on JPY against other currencies.
JXY reaching 69.00 support level at 69.00, Yen buyer may start collect yen for short term pull back before JXY testing the next low.
JXY seems able to take a breath ahead next week.
