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AUDJPY ANALYSISHello traders here is an analysis of AUDJPY for the coming weeks, what I have noticed in this market is that the price formed a rising wedge pattern that signals a bullish move but now after giving it some time and thoughts the price can go either way because you can see that it has been creating support and resistance and you can see it respect those zone so now I will wait for the price to break one of the zones then retest it then I will look for the opportunities that the market will present to me. What's your take on this one?
by dlaminisya
AUD/JPY Opportunity? BOJ and RBA announce decisions together Is the AUD/JPY the trade to make at the beginning of the coming week? Both the BoJ and the RBA are delivering their latest interest rate decisions on Monday morning, 30 minutes from each other. The Bank of Japan is up first, at 11:00 pm on Monday (US time UTC –4). The Reserve Bank of Australia follow at 11:30 pm. What's expected from each bank? According to sources quoted by Reuters, the Bank of Japan is leaning toward exiting negative rates this month. This is something that would really be a huge shock to the market. It would be the year's story, but do most traders believe this is possible, or is April the more likely timeline? Even a hint of an April rate hike could be a huge event in the market. From the RBA, traders might be looking for a rate cut, but won't likely get it. An argument on the side of a rate cut involves the RBA getting nervous about what the Wall Street Journal calls a “Deepening Property Crisis of its Own Making”. Sarah Hunter, the Assistant Governor of the RBA, addressed the economic and inflation forecast during a panel discussion at the AFR Business Summit on Tuesday, stating that “Households are clearly struggling at present.”
by BlackBull_Markets
2
GBPCAD: Strong start for GBP fading out?GBP has been the strongest performing currency so far this year - I keep asking myself why?? Country in a recession Stagnant economy Limp Central Bank With today's unemployment reading I'm expecting this to be the start of bearish involvement in sterling, I'm starting with this pair. Think oil has dropped a lot and could be ready to bounce up which is good for CAD. Seem to have broken the ascending trendline and retesting it now, failure to break back in will signify a change in direction. My first target is 1.708, around the MA50 (daily) and clear support.
Short
by Finchcliffe
EURJPY to find resistance at market price?EURJPY - 24h expiry Short term bias has turned negative. The 200 day moving average should provide resistance at 161.35. This is negative for sentiment and the downtrend has potential to return. We look to sell rallies. Further downside is expected although we prefer to sell into rallies close to the 161.65 level. We look to Sell at 161.80 (stop at 162.30) Our profit targets will be 160.60 and 160.30 Resistance: 161.90 / 164.30 / 167.35 Support: 160.00 / 158.70 / 15.40 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
Sell GBPJPY Bearish ChannelThe GBP/JPY pair on the M30 timeframe displays a potential selling opportunity due to the presence of a well-defined bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours. Key Points: Sell Entry: Consider entering a short position around the current price of 188.60. This places your entry near the current price action and potentially close to a retest of the channel resistance. Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 187.62: This represents a significant support level within the channel. 187.10: This is a further extension of the downside target, based on the height of the channel. Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the channel, ideally around 189.15. This helps limit potential losses if the price unexpectedly breaks above the channel and invalidates the downtrend. Thank you
Short
by KABHI_FOREX_TRADING
2
USDJPY: Excellent buy opportunity.USDJPY is bearish on its 1D technical outlook (RSI = 41.212, MACD = -0.110, ADX = 47.052) but not only is the price making a rebound on the 1D MA200 but the 1D RSI is also staging a rebound from nearly oversold levels, much like it did on July 13th 2023. All this price action is taking place inside a long term Channel Up pattern, so this is a buy opportunity with significant upside potential. Our target is the top of the Channel (TP = 160.00). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
4
Analyzing EUR/JPY Dynamics Post-Tokyo CPI SurgeAmid the bustling European trading session on Tuesday, the EUR/JPY cross finds itself grappling with a downward shift, slipping beneath the mid-163.22s. This move follows closely on the heels of the Tokyo Consumer Price Index (CPI) report for February, which has ignited speculations about an impending shift in the Bank of Japan's (BoJ) interest rate policy. The CPI surge signals a potential departure from the negative interest rate regime, thereby bolstering the Japanese Yen (JPY) and exerting downward pressure on the cross. Fresh data from the Statistics Bureau of Japan paints an intriguing picture, with the Tokyo CPI soaring to 2.6% year-over-year in February, a notable jump from January's 1.6%. However, when excluding Fresh Food and Energy, the CPI moderated slightly to 3.1% year-over-year in January from the previous 3.3%. This surge in price growth above the central bank's target for February has fueled speculation regarding the BoJ's first interest rate hike since 2007, bolstering the JPY against its currency counterparts. BoJ board member Hajime Takata has dropped tantalizing hints about a potential early shift in the central bank's policy, suggesting that the coveted price target is now within reach, warranting a change in monetary policy stance. However, BoJ Governor Kazuo Ueda remains cautiously optimistic, emphasizing the need for further data to validate the emergence of a sustainable wage-price cycle. Meanwhile, over in Euro territory, all eyes are on the European Central Bank (ECB) as it gears up for its March meeting later this week. Market watchers eagerly anticipate whether the ECB will maintain the main refinancing rate at 4.5%, with ECB President Christine Lagarde's recent remarks hinting at a continued struggle against disinflation. Lagarde stressed the importance of gathering more data before contemplating any rate adjustments. The market will be closely attuned to the forthcoming press conference, where any deviation from a hawkish tone could trigger selling pressure on the Euro (EUR) and cast a shadow over the EUR/JPY cross. In light of the current landscape, our analysis paints a picture of a potential JPY strengthening, possibly prompting a retracement in the EUR/JPY pair.
Short
by FOREXN1
1
CHFJPY: Is the high in?Starting to see Yen strength materialise, with the BoJ looking to get out of the current cycle. Surely Yen can't go much lower against all of the G10, so expecting some moves in the coming week. We've been failing at the 171.8 high for weeks so this looks like consolidation to me now, ready for a push down. Starting this week with the CHF PCI data this Tuesday, expecting to start seeing signs of cuts from the SNB so this could be a cross that moves.
Short
by Finchcliffe
GBPJPY dips continue to attract buyers.GBPJPY - Intraday The primary trend remains bullish. The selloff has posted a correction count on the daily chart. Buying continued from the 50% pullback level of 188.30. We look to buy dips. Bespoke support is located at 188.70. We look to Buy at 188.70 (stop at 188.20) Our profit targets will be 189.90 and 190.20 Resistance: 189.70 / 190.20 / 190.70 Support: 188.70 / 188.20 / 187.70 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
GBPJPY Pull-back to the 1W MA50 as per historic pattern.The GBPJPY pair broke recently above the 2023 High has been consolidating these past 3 weeks. This consolidation can technically be the start of a new correction back towards the 1W MA50 (blue trend-line) in order to test the market demand and get confirmation. This is exactly what took place in October 2014, which as you can see, is the fractal that GBPJPY's 4-year Channel Up (since the March 2020 COVID bottom), is almost identical to. In fact we are at the +53.99% increase level since the bottom as the pair was on September 2014, displaying remarkable fractal symmetry. Based on that, we are medium-term sellers on GBPJPY, targeting 183.000 (1W MA50) where we will reverse to a buy again and target the top of the Channel Up at 200.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USDJPY Bullish for the rest of the year. Sell in 2025.This time we view the USDJPY pair from a very long-term perspective as there has been much confusion lately over its trend and we want to put things into context. As you can see on the 1M time-frame, the price is getting out of a consolidation phase (blue ellipse) that has been lasting for a little more than a year. The rally since the January 2021 bottom has been enormous but this is not the first time that the pair is pulling out something similar. Since the April 1995 bottom, there have been another 2 such rallies (Nov 1995 - Aug 1998 and October 2011 - June 2015) of +85% and +66.75% respectively. The first peaked marginally below the 1.382 Fibonacci extension while the second marginally above it. This indicates that the pair still has considerable room to extend this rally to and the confirmation is that it ust got out of the blue consolidation phase. The previous two give us a Sell Zone within 171.630 - 190.500. As a result, we will stay bullish on USDJPY probably until the end of the year and start selling in 2025 after the price enters the Sell Zone. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
Sell NZDJPY Channel PatternThe NZD/JPY pair on the M30 timeframe presents a potential selling opportunity due to the presence of a bearish channel pattern. Sell Entry: Consider entering a short position around the current price of 91.65, positioned near the current price within the channel. Target Levels: The initial bearish target lies at the 91.15 level, which represents the previous support line within the channel. Further downside targets could be determined using other technical analysis methods like Fibonacci retracements or extensions. Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the channel, ideally around 91.85. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_FOREX_TRADING
16
GBPJPY to form a higher low?GBPJPY - 24h expiry The medium term bias remains bullish. Trading within a Bullish Channel formation. The sequence for trading is higher highs and lows. Buying continued from the 61.8% pullback level of 189.20. Previous support located at 190.10. We look to Buy at 190.10 (stop at 189.70) Our profit targets will be 191.10 and 191.35 Resistance: 191.10 / 191.60 / 192.00 Support: 190.10 / 189.60 / 189.10 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
GBPJPY: Key Resistance in Focus This Week - Breakout Potential?GBPJPY faces a critical juncture this week, with a formidable monthly resistance level at 193.659 coming into view. If the pair can surmount this hurdle, it could unlock a significant upside move towards 214.005, with limited resistance in the way. Technical Analysis: GBPJPY has been in a strong uptrend since the beginning of the year, gaining over 17%. The pair is now approaching a key monthly resistance level at 193.659. A break above this level could signal further bullish momentum, with a potential target of 214.005. There is limited resistance between 193.659 and 214.005, suggesting that the pair could make a significant move if it breaks above the resistance level. Fundamental Factors: The Bank of England (BoE) is expected to raise interest rates at its next meeting in March. This could support the pound sterling against the Japanese yen. The Japanese economy is facing headwinds from rising inflation and a weak yen. This could weigh on the Japanese yen and support GBPJPY. Conclusion: GBPJPY is poised for a significant move this week. A break above the key resistance level at 193.659 could signal further bullish momentum, with a potential target of 214.005. Traders should closely monitor GBPJPY's price action around the 193.659 level this week. A breakout above this resistance could indicate further bullish momentum, while a rejection could indicate a potential pullback. Additional Information: The pair has already broken the monthly pivot and pulled back to it, which could be a bullish signal. The RSI indicator is also showing bullish momentum, with a reading of 65. The MACD indicator is also bullish, with a crossover above the signal line. Disclaimer: This is not financial advice. I am not a financial advisor. Please do your own research before making any investment decisions.
Long
by behnamxt
1
USDJPY: Your Trading Plan For This Week 🇺🇸🇯🇵 USDJPY is trading in a bullish trend. After the price set a new higher high, we see quite an extended consolidation within a horizontal range. 150.9 is the resistance of the range. If the market breaks and closes above that on a daily, we can anticipate a trend-following movement. Next resistance will be 151.6 Alternatively, a bearish breakout of the support of the range may trigger a bearish continuation. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1