Consensus: Gann, Regression Channels, Triangles, Hull, Hull MACD, Keltner Channels, Fib Circles, Support and Resistance, Andrews Pitchforks? Fundamentals and Stock Index correlations?
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.
The JPY index has the potential to visit the previous low, and we may see a break below and the formation of a new lower low
The index will grow. __________________________________________________________________
Japanese Yen gains 200 Pips against Dollar USD after July 2023 FOMC meeting, however market see turning point at support 137.923. Indicating USD bull run is begin against JPY.
Would Japanese Yen Index continue making new lows in order for other currencies to break new highs?
JXY JPY Index has been super bullish since few days but seem to lose its energy on 1 Hour time as it is getting rejection from Daily Resistance level with breakout of Rising wedge pattern with RSI Bearish Divergence.
Intradays also focus on the weakness of JPY, buyers are stepping aside
The charts of 6monyhs movements indicate that there would be no bull sooner... Retracement van always happen. Watchout for h1, h4s and daily tf
Market expected to decline TP to 19% @73.02 may see stagnated incline before decline but ultimatly expect market to decline. INCLINE: 1.00% DECLINE: -0.57% INCLINE: 1.79% DECLINE: -1.43%
JPY is touching trendline and horizontal line. Do you think it is time for bullish or bearish setups on the Yen
Bear market continuation, macd (N) Bullish right above 50/50 signal below ma, rsi bullish right above 50/50 signal below ma expect market to decline retest 3m-low form double bottom and bounce to the upside in near future weekly tp @ 76.66 CLIMBAGE: P1: Inline:1.51% Decline-2.06% P2: Incline: 2.82% Decline: 4.34%
(N) market bearish momentum: macd (N) on 5050 signal below ma rsi BULL above 5050 signal on/below ma. double top forming @ 4hr-low indicators signaling bear market/momentum to continue TP@ monthly-low Climbage projectile P1: INCLINE:1.93% DECLINE: (-3.73%) P2 INCLINE: 2.98% DECLINE: (-6.85%) Incline weekly percentage chance: 26% Decline weekly percentage chance: -90
Expecting market to follow the decline before the upmove but could very well decide to take that up move without decline wait for break. Climbage Projections1: INCLINE: 1.92% DECLINE: (-2.26%) ... setting up for a significant rise
Hi Traders, this is my take on the Major indexes before the Feds rate news this evening. Trade safe and stay blessed. Enjoy