Get started

Dollaryen

USDJPY Short Because Technicals Flash Overbought, Yen Safe HavenUSDJPY has a number of trends going against it to force price action downwards. Technicals and fundamentals are not on the dollar's side against the yen. Traders can see a number of oscillators and MAs suggesting USDJPY is overbought and due for a reversal. Moreover and probably more impactful are the fundamentals of the global economy which suggest major growth centers (Europe and China) are slowing down. US treasury yields suggest we are heading towards a recession and US GDP growth is probably going to be less than previous quarter for the second quarter in a row. Because of this, the yen will be heavily invested into which will partially be a result of institutional hedging, partially Japanese capital flows returning to Japan. While the dollar will also benefit from this, it will probably not benefit as much as the yen in the short term since the US economy is still strong and many in the US still want to be exposed to risk-on assets like equity markets. In spite of this, sentiment indicators suggest the yen is set for a bullish move, but this can quickly reverse. You can find that data here www.dailyfx.com and you can find more analysis of currencies and indexes here www.anthonylaurence.wordpress.com
Short
by WhiskeyTangoFoxtrot3
USDJPY Sidesways Because BoJ Ineffective, Traders Indecisive Trend trading would indicate via EMAs that we should see some lower levels. Moreover, short-term resistance and short-term support are form a symmetrical triangle and given the steep degree of the angles of the wedge, it seems as though some dramatic fundamentals would be required to force this pattern into either an upside or downside follow through of the wedge. For central bank fundies, the BoJ is clearly the most ineffective central bank in using monetary policy to impact its markets. Any move then by the central bank is probably going to be responded with a collective shrug. In the end, this pair is mostly driven by event risk of which recently is fairly weak. Equity markets (Nikkei 225 and Nifty) are getting crushed. My inclination is that this will trend lower since we are in an extended cycle and the yen is a safe haven asset. However, this may not be for some time since traders are relatively indecisive on whether or not the pair can continue its short-term uptrend or if the bears in other asset classes will take over causing a more longer-term extension lower.
by WhiskeyTangoFoxtrot3
USDJPY Breaks Short-Term Resistance, But Short Trade OvercrowdedWe've seen a huge risk-off shift in sentiment over the past few trading days stemming back from last Friday that saw many safe haven assets like the Japanese yen strengthen. There's many reasons why this is including ongoing concerns of a global growth slowdown, signals of recession such as the yield curve inversion, and thematic concerns lurking in the background such as the ongoing trade war between the United States and primarily the Chines but really with the rest of the world. Short-term support was broken with the yen on Friday and no rebound occurred yesterday or as of yet today in trading to get back above that line. Moreover, our bull/bear market indicator suggests the yen is now trending bearish while price action continues to fluctuate below the 200 day moving average. However, there are signs that a short-term uptrend could occur. This evidence mainly lies in two oscillators and a bit in sentiment. First, CCI asserts that we are fairly close to oversold territory. However, this signal was stronger on Monday morning and has since receded. More convincingly, the sentiment indicator from Madrid suggests we are in an overcrowded sold environment. Contradicting this is data from IG via DailyFX also suggests that traders are net long and that the contrarian trade is already a bit overdone with signals that sentiment is mixed. Here's that data: www.dailyfx.com Overall, this is difficult trading territory fundamentally and technially. While a good amount of evidence suggests we are a bit overdone in shorting dollar/yen technically, the fundamentals and the potential continued trend of global growth slowdown suggest that in the medium- to long-term that price action will flirt with much lower price levels than what investors are currently witnessing. For price targets, 105 remains a psychological barrier to overcome that the flash crash of January tested. Movement to this level is clearly not in the cards in the short- or medium-term as fluctuations between 108.50 and 111.90 are much more realistic. For more analysis on the yen and other related issue, check out www.anthonylaurence.wordpress.com
by WhiskeyTangoFoxtrot3
USD/JPY daily overeviewDuring Friday’s trading session, the 100-hour simple moving average supported the rate to end the trading session at 111.40. On Monday morning, the rate was trading between the 55-hour and the 100-hour simple moving averages at the 111.51 mark. It is expected, that the currency exchange rate will be trading sideways to end the trading session at the 111.60 level. On the other hand, the support levels of the 200-hour and the 100-hour simple moving averages could push the US Dollar to appreciate against the Japanese Yen towards the 111.80 level.
by UnknownUnicorn890690
USD/JPY daily reviewDuring Monday’s trading session, the 55-hour simple moving average supported the rate to end the trading session at 111.80. On Tuesday morning, the currency exchange rate was located at the 111.93 mark. In regards to the near-term future, most likely, the 55-hour simple moving average will continue to support the US Dollar to push the rate to trade sideways at the 112.00 level. Note, due to the fact that the previously drawn pattern was broken, the chart was fully reviewed to draw a new pattern!
by UnknownUnicorn890690
USJPY Intraday ForecastAs we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=110.9. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=110.3. TP4: S2=110.1. Set the stoploss of these orders at breakout of R2=111.1. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of R2=111.1. In this situation, there is an expectation to reach the target R3=111.75. Set the stoploss of reverse orders at breakout of R1=110.9. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Short
by ForecastCity
4
USDJPY Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=110.1. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=110.65. TP4: R2=110.8. Set the stoploss of these orders at breakout of S2=109.9. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=109.9. In this situation, there is an expectation to reach the target S3=109.25. Set the stoploss of reverse orders at breakout of S1=110.1. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity
USDJPY Short Opportunity around 109.20...6:1 Return PossibilityUse your best judgement. Don't copy my entries and stops, they change as market the changes. In my posts, I do try to give the most precision as I possibly can though. There is a lot going on here. The USDJPY is looking very strong from a bearish perspective. We have a potential 30-Day Bullish Bat in development. But inside of that we are in possibly wave 4 (pullback) of a Bearish Elliott 5-Wave cycle. The 5 waves would be completing at a .618 of a 4HR swing high to low which I like for a buy opportunity. but we aren't even at that stage yet. But for the Short Opportunity I LOVE this. We have broken a mini bullish channel, (1hr) This looks like a pull back before we continue to wave 5. I went onto the 15-Minute chart and also saw a Bearish Butterfly developing. The butterfly will be completing right at a level of previous support, It will also be the same measurement of wave 2, it will also complete as wave 4 retraces .618 from wave 2. I'm loving this set up, I will be watching the 15 minute time frame for a sell signal to ride down to wave 5. Enjoy! Also, It looks like the rest of the day is going to continue up another 20 pips or so, the entry might come around the close of the day, or Sunday night when the market opens . I'd advise entering on Sunday. So the brokers don't bend you over and take your money over the weekend lol.
Short
by elevatedinvestor
USD/JPY daily overviewDuring Monday morning hours, the currency exchange rate was resisted by the 200-hour simple moving average to stay at the 108.15 mark. In regards to the near-term future, most likely, the rate will be trading sideways between the monthly S1 at 108.17 and the weekly S1 at 107.86. The resistance levels of the monthly S1 and the 55-hour simple moving average will not let the US Dollar to appreciate against the Japanese Yen during the trading session on Monday.
by UnknownUnicorn890690
USDJPY Intraday ForecastAs we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=114.1. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=113.7. TP4: S2=113.5. Set the stoploss of these orders at breakout of R2=114.2. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of R2=114.2. In this situation, there is an expectation to reach the target R3=114.75. Set the stoploss of reverse orders at breakout of R1=114.1. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Short
by ForecastCity
4
USDJPY Intraday ForecastAs we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=114.1. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=113.7. TP4: S2=113.5. Set the stoploss of these orders at breakout of R2=114.2. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of R2=114.2. In this situation, there is an expectation to reach the target R3=114.75. Set the stoploss of reverse orders at breakout of R1=114.1. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Short
by ForecastCity
18
There is a possibility for the beginning of an uptrend in BCHUSDMidterm forecast: While the price is above the support 190.10, resumption of uptrend is expected. We make sure when the resistance at 637.00 breaks. If the support at 190.10 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the trough at 460.75 on 2018-08-14 and the trough at 405.45 on 2018-09-12, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased. The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased. The RSI resistance #2 at 60 is broken, so the probability of resumption of uptrend is increased. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 78. Trading suggestion: There is a possibility of temporary retracement to suggested support zone (400.0 to 279.0). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (400.0) Ending of entry zone (279.0) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @497.75 TP2= @637.00 TP3= @748.60 TP4= @832.10 TP5= @945.70 TP6= @1148.10 TP7= @1292.20 TP8= @1610.45 TP9= @1773.75 TP10= @1986.65 TP11= @2890.00 TP12= @4088.05 TP13= Free
BLong
by ForecastCity
USDJPY Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=112.15. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=112.55. TP4: R2=112.9. Set the stoploss of these orders at breakout of S2=112. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=112. In this situation, there is an expectation to reach the target S3=111.4. Set the stoploss of reverse orders at breakout of S1=112.15. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you! ALL OF OUR INTRADAY FORECASTS ARE VALID FOR 24 HOURS FROM RELEASE TIME.
Long
by ForecastCity