Yen reached daily supply zone. Price testing this daily orderblock a.k.a. daily supply zone. I would like to see price reject this for more downtrend
JPY news.
GDP q/q
Actual 0.1 Forecast 0.3
Actual weaker then forecast = JPY weak.
Trade ideas
Yen reversal. Market shifts to bearish gearsPEPPERSTONE:JPYX Yen technical bullish pullback did a 50% retracement, at the same time price is at the weekly order block/supply zone.
Im expecting a continuation of the YEN bearish trend from here.
OANDA:GBPJPY this adds more confluence to my long position at GY
Japanese Yen index forecastThis is my anticipation of what the JPYX might do in coming days and how we can successfully trade yen pairs
JPYX WILL REVERSE ON THE DEMAND ZONEJPYX has returned to the earlier demand zone highlighted across both hourly and daily timeframes. Additionally, we've observed the fulfillment of a five-wave count within the current bearish trend, suggesting the potential for a reversal at this established demand zone.
jpyx shortThe Japanese yen continues to decline after the Japanese Bank's statements not to take any measures to revive their currency, and in light of the rise of the dollar, it gives more weakness to the yen.
JPY 1D Outlook for next week JPY 1D Outlook for next week
Currently JPY running with Descending channel and still on path correctly. Already broke the 4H Support level 754.4 and continues bear market.
Analyze recommend to open buy order with All JPY pairs according to strong side. ( USDJPY Didn't recommend till CPI )
Key levels D1
Pressure level located | 767.3 | 774.6
Support level located | 748.2 | 744.6
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Title: How to Earn Money Online by Shorting JPY Pairs 🚀
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📈JPYX D1 chart shows that it had a Displacement and ChoCh in the first week of December last year, which means it was overbought and due for a correction. And guess what? Last week, it bounced off the support level at 753 and formed another ICT Long setup around 750, where there was a FVG in November last year. This is a clear sign of weakness and exhaustion. 😵
📉We predict that JPYX will soon hit the resistance level at 767.2 and then fall back below 760.8, which is the Buy Zone of JPYX. This is the perfect time to short JPY pairs and earn money online with Swing trading. 💸
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⚠️Disclaimer: Trading forex is risky and you should only trade with money you can afford to lose. We are not responsible for any losses you may incur from following our signals. Always do your own research and analysis before placing any trades.
JPY: Tokyo driftThe sharp falls in Tokyo inflation for January remind investors of the ending of the
BoJ’s YCC and/or NIRP in 2024 are not set in stone. Tokyo inflation is a very good
leading indicator for the nationwide inflation data. Tokyo inflation excluding fresh
food as well as headline inflation plunged below the BoJ’s 2% target to 1.6% YoY;
well below the consensus forecasts. January is the first time Tokyo inflation
excluding fresh food is below the 2% target in a bit over 18 months. Tokyo inflation
excluding fresh food and energy dropped to 3.1% YoY; also well below the
consensus forecast. The Tokyo inflation data will challenge the increased
confidence expressed by BoJ Governor Kazuo Ueda in his post-meeting press
conference that the central bank will meet its inflation goal. This confidence helped
the JPY stage a modest rally this week as JGB yields moved higher in anticipation
of the formal ending of YCC as well as NIRP in the coming months. The Minutes
to the BoJ’s December meeting continue to feed this speculation as Board
members shared the view that deepening discussion on the timing and pace to
raise rates was required.
Another factor that can give ground to the Yen is the BOJ intervention in the Forex market which had already happened a couple of times in 2023. They are closely tracking the USDJPY rate and tend to intervene around the 150.00 level which is about to be tested soon. For now, BOJ prefers FX interventions as they are effective so far and not damaging the already deflating economy as real interest rate increases would do. The Japanese Governor Ueda is also using his words wisely as we can see, only speaking about potential interest rate hikes affects the currency as if they increased them already although getting out of the ultra-loose policy is highly unlikely in 2024.
Check out my other ideas below:
JPYX Japan Currency Index IdeaThe JPYX has reached a significant support level on the daily chart. I foresee a potential retracement, considering its entry into past daily lows and the current price swing being excessively extended. A JXY retracement towards the 61.8 Fibonacci level may present trading opportunities. It is important to note that the information presented here is intended solely for educational purposes and should not be interpreted as financial advice.
JPY Next Week ExpectAccording 4H JPY start going to sell
with 789 - 785 levels.
Support level 748.0 and pay more attention
when running with 762 - 776
JPYX. GBP/JPY BIASUsing JPYX inversed chart to monitor when GBP/JPY could be ready to deliver bullish.
Jpyx inversed chart, going up, means GJ goes up.
Ready to take a displacement bullish for a long.
USDJPY BUYCould this be a possible BUY for USDJPY? Based on what's happening on DXY chart, the market seems to reacting to a significant area of price.
There's a form of reversal chart pattern on the 4hr TF,
Let's see how this plays out.
Feel free to share your thoughts
JPYX on inversed chart.
Testing JPYX on inversed charts, to match and time my GBP/JPY trades & zones.
Notes:
2h structure:Going long, rooting for the current jpyx low to hold, waiting for it to retrace for the weekly bias
Weekly: Source is a bit deeper down, may take a while to reach there. Until then, longs are worth a shot on the valid SnD's. For the bigger picture, a bigger retrace becomes iminent.
The aim of this combo: To filter out bad snd's that lag behind or are simply deceiving.
JPYXYen looks like it COULD be forming a head and shoulders. I a looking for longterm YEN weakness in the scenario
JPYX → Bear Fakeout! Descending Wedge Bull Breakout! Now What?The Japanese Yen Index descending wedge pattern initially broke to the downside, the opposite expected move statistically. A double bottom formed shortly after and reversed hard to the upside! Now we're at the 200EMA Resistance, what are the next moves?
How do we trade this? 🤔
There are no good trades to take on the Daily chart. We're too close to resistance, RSI is over 75.00, and our protective stop for a long position would have to go back down at the breakout point, giving us terrible Risk/Reward. A long would not be ideal given this analysis. I would wait for the price to come back down to the Daily 30EMA and look for a buy signal and confirmation to enter a long.
Shorting on the other hand may be an option. Since we're near a resistance zone, a protective stop could be placed above the 200EMA and short to the 30EMA on the 4HR chart. The Macro Trend is bearish, so this would be the ideal direction to trade on the higher timeframes such as this one. I would use the 4HR chart to enter a short, and use the Daily chart to look for a long position.
💡 Trade Idea 💡
Long Entry: 763.0
🟥 Stop Loss: 756.5
✅ Take Profit: 776.0
⚖️ Risk/Reward Ratio: 1:2
🔑 Key Takeaways 🔑
1. Descending Wedge Patern, Bullish!
2. Breakout below Wedge failed!
3. Double-Bottom Reversal, broke out above wedge.
4. Resistance at 200EMA, Wait to Enter.
5. RSI at 75.00, wait for a pullback.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and comment if you found this analysis useful!
Mean Reversion on JPYXJPY index bullish momentum targeting 761. Mean reversion at 757.5 indicates a Bullish trend Momentum.
JPY Declines on Q3 GDP Loss.Japan's GDP for Q3 2023 has absolutely crashed by -2.1%. After a very good Q1 & Q2 growth, the markets & economy caught onto what was really happening.
They unloaded the magical money printer…
They printed out a ton of new money to prop up their economy. This has been exposed by their consumer spending collapsing. With inflation high, consumers have less to spend which is affecting their GDP this quarter. So after the fake ‘demand’ presented in Q1 & Q2, the economy can no longer keep up the facade from money printing.
JpyxWe are on a pivot support in the monthly time, of course, this support is available. I am really waiting for the yen to strengthen against all other currencies
JPY- The big short?JPYX has been in slight downwards range since August the 9th, we had a previous idea on how a triangle consolidation could have broken out of this range, but the consolidation broke up to come crashing back down, and now JPY had major imbalance and punctured the lower bounds of our range. In trading hours today UJ actually went down due to the fall of DXY on NFP data, however GJ showed strong rally against the YEN ect, We know would like to see some entries to trade a potential imbalance to the downside as the great fall of JPY looks set to continue.
