Last week was very bullish for the JPY currency. Before that, it was consolidating and moving sideways for six weeks. This week is unpredictable, a little up and a little down. It would be good if the representatives of the Japanese government and the BOJ came to an agreement on where they want the yen to be because we cannot trade in this way. 😂
The market has completed the impulse wave (12345 waves) at 809.00 price level. A correction wave comes next which carries 3 waves (ABC waves). From now, we will expect price to continue upward in a corrective manner up onto 885.00 price level probably respecting 61.8% fibs level before we can see some reversals to continue it overall bearish trending market. As...
Yen will be in control for the month of July and august , Buy Yen Vs all ...
JPYX is in a strong downtrend, you can see I have used the rvi indicator and noticed huge levels of divergence, this is a different reading on the indicator to what price is doing, so an example in this chart is the lower high in price and the higher high on the indicator, these are subtle signs that there is disturbance inbound, these divergences can often lead...
YEN should find support between 50 and 62 retrace for bullish outlook in the shortterm
Here we see how the JPY index recovers. The bottom was found at the 809.00 level, and then the bullish trend began. The first Fibonacci is set on the chart, and we see that the pullback ends at the 61.8% level and how a new bullish momentum begins. Next is the formation of a new higher high and the setting of a new Fibonacci on the chart, and we see that the new...
JPY is going to be strong in the coming days.. So you can look for sells on pairs such as AUD/JPY, CADJPY, NZD/JPY ETC. Price has created two touches at the top giving us a potential valid structure, So the market has a high potential of reaching the third touch.
will go up soon, check in 2 days time. this is about the japanese currency in a single chart. the japanese are working on reviving their currency.
we can see at the chart an important trendline thats has been broken , and the price did a false breakout on his second touch , and we saw a double doji with higher low which presente a great signal for buyers , so we can expect that the price will rise at least to the resistance box.
This is a simple breakdown of the JPYx (Japanese Currency Index) This is a major signal i use to know the strength of JPYs' before I enter a trade setup on JPY pairs.
This is a simple breakdown of the JPYx (Japanese Currtency Index) This is a major signal i use to know the strength of JPYs' before I enter a trade setup on JPY pairs.
In the coming weeks i expect a strong bullish activities to happen on JPY index as this asset is at it threshold of supply hence the Federal Bank will be cutting down supply for in imports and other economic determinants . As demand for the yen increase more position would be accumulated to buy more of the yen in the coming days hence market will see a rush off...
Overall, GBP/JPY is ranging across. Recently, GBP/JPY traded into the support zone of 156.000. The UK flash PMI data will be released later at 1730 (GMT+8). Flash Manufacturing PMI (Forecast: TBA, Previous: 57.3 revised from 56.9) Flash Services PMI (Forecast: TBA, Previous: 54.1 revised from 53.3) Currently, GBP/JPY is testing the support zone of 156.000 and the...