Hey there, traders! 🌟 Let's delve into the tricky landscape of dollar yen – a setup that demands our attention. The overarching trend suggests a bullish journey, but buckle up, because there are twists ahead. 📈 News flashes about the potential Bank of Japan (BOJ) intervention and the recent wastewater stir have stirred the pot. 🌊⚖️ For the conservative trader,...
The USDJPY trades with choppy price action between the 145 and 146 price range. With increasing comments about the weakness of the Yen and the possible invention from the BoJ, the longer the USDJPY stays at this price level, the higher chance we are likely to see an intervention. However, we cannot rule out a continuation of the upside, especially if the DXY...
YES! The BoJ is expected to release its monetary policy report today, and all signs point to the BoJ maintaining its current stance. Keeping with the negative rates of -0.1%. The BoJ is the last major central bank yet to jump onto the interest rate hike path, diverging from the rest of the world. Releasing an unchanged monetary policy report at the last BoJ...
On Friday 21st October, the USDJPY had been climbing steadily, almost reaching the round number of 152.00. Then it reversed and spiked lower, from 151.50 reaching a low of 146.20. This move was very similar to what happened on the 22nd of September, when the USDJPY climbed above 145 and almost reached 146 before crashing down to 140.35. However, when the USDJPY...
Hello traders, As it comes to CADJPY, I see that after the positive CAD news on Friday, this pair has been sold hard. I see a break of Trend line and support zone and I can see a Friday closure at retest price action. Perhaps the pair might go up for a bit, but this will indicate nice short opportunities to the previous support zones. Note: The Bank of Japan...
The Yen is weak... The weakest against the dollar I have ever experienced in my trading career... Economically though, Japan is not in the worst situation, especially when compared to key economic figures... Current global inflation rates; US 8.2%, UK 10.1%, EU 9.9%, AUS 6.1%, CAD 6.9%... Japan 3.0% GDP growth; US -0.6% (recession), UK 0.2%, EU 0.8%, CAD...
In this video, I go through the analysis done prior to the BoJ intervention that I warned of in a prior video with the euro, kiwi ideas all vulnerable as the US dollar gets whacked by the BoJ Ninjas!
As the Yen continues to weaken, the market consensus is that the BoJ is most likely to intervene when the price hits the round number level of 150. Understanding the previous time the BoJ intervened (non stealth) on 22nd September 2022, there are a few learning points to note: - The market consensus price level then was 145. However, the BoJ intervened only when...
USD/JPY has edged higher today and is currently trading at 149.17. The yen has fallen for eight straight sessions, losing 500 points in that time. The yen continues to set new 24-year-old lows as the dollar/yen has pushed above the 149 line. This is a higher level than when the government intervened last month, which marked the first intervention since 1998....
USD/JPY continues to move edge higher and is up 1.6% this week. In the European session, USD/JPY is trading at 147.67, up 0.25%. The Japanese yen is once again on a downswing, after hugging the key 145 line. The dramatic intervention by Japan's Ministry of Finance (MoF) in September stemmed the yen's bleeding, but this move by Tokyo appears to have had a very...
BOJ - Let's challenge you! Intervening in there currency was a perfect technical set-up as well but as I started in my previous posts, we are going to re-rest the highs as we are, and we could perhaps go further if we break above that spike high of 146 area. However, we could get a fake break to either direction that's where you should be careful. Technically we...
The yen's recent sharp fall, which has pushed up the cost of living for households as fuel, food and drink prices rise, was partly driven by the widening gap between the US Federal Reserve's aggressive monetary tightening and the BOJ's ultra-loose monetary policy. BOJ Governor Haruhiko Kuroda echoed Suzuki's warning that a rapid yen move was undesirable, but...
The GBPUSD had been on a significant downtrend (see the downward channel) due to several factors: - Strong USD, due to hawkish comments and aggressive interest rate policy path. - Stick inflation in the UK, at record high levels despite the BoE being among the first central banks to hike rates. - Uncertainty in the UK political environment following the ousting of...
The USDJPY had been climbing strongly especially as the price broke above the 140.50 resistance level to an overall high of 145.90. However, before the high of 145.90 was reached, the price had been resisted by the 145-round number resistance level. On the 14th of September , as the USDJPY tested the 145 resistance level again, the Bank of Japan conducted a rate...
USDJPY Intraday - We look to Buy at 143.48 (stop at 142.29) The primary trend remains bullish. Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. Support is located at 143.40 and should stem dips to this area. Dip buying offers good risk/reward. Our profit targets will be...
$JPY - Did the intervention help? Didn't really help, technically it was an awesome trade but be aware even with intervention as dxy headed higher yen falls! Japan won't intervene to defend 145 yen line-in-the-sand, ex-top foreign-exchange diplomat says. We could head up back to those highs! TJ
Cable is breaking down hard after British finance minister Kwasi Kwarteng's announced tax cuts on energies. The plan is for households to save some money and to expand the supply side of the economy, but investors seem pessimistic about that, at least for the short-term period. We see cable coming down hard, but price is moving into 1985 low with a potential...
Week 3 of September was exciting... The yen was able to hold down a VERY strong USD while both currencies absolutely OBLITERATED any and everything in its path. I have over 600 running pips in Gbpjpy with no bottom in sight and quickly banked almost 500 pips on Eurjpy. Could this be it?