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NZDJPY to find buyers at current support?NZDJPY - 24h expiry Trading within a Bullish Channel formation. Dips continue to attract buyers. The hourly chart technicals suggests further downside before the uptrend returns. A lower correction is expected. Bespoke support is located at 91.30. We look to Buy at 91.30 (stop at 91.00) Our profit targets will be 92.05 and 92.25 Resistance: 91.90 / 92.20 / 92.40 Support: 91.30 / 91.00 / 90.70 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
CHFJPY Short Analysis + Trade IdeaCHFJPY 4HR Analysis + Trade Idea by OfficialKieranTrewick Looking for a 4HR fractal pivot rejection off 170.750-171.000 to provide good entries for shorts down to 169.500 - 167.000, The daily trend is very strong with chfjpy ongoing since 2021 and with multiple recent rejections off the latter side it seems it may be loading up for the surge into ATNH but with how strong of a resistance there has been at 171.500 i am not sure if this will be anytime soon, and with how strong the trend has been there is definitely room for some exhaustion down to 165-163 without affecting any long term market structure. Currently where the inner trend meets the underside of the largescale trend within a large range zone block trapped between 50% and a strong resistance level, the key here is just patience and waiting for the right confirmations to play out. On friday I already entered a short position with my VIP group from around 170.850 with various take profits levels down to 170.750, 170.500, 170.250, and 169.250.
Short
by OfficialKieranTrewick
Usdjpy a healthy pullback should be goodHello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Bias to watch for setups to go on long like what i did last week. Take note! :) Do check out my stream video for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
Long
by Shadowing_The_Big_Boys
Trading USDJPY: Fed's Influence on Uptrend ContinuationHey Traders, In the coming week, we are keeping a close eye on USDJPY for a potential buying opportunity around the 148.800 zone. USDJPY has been following an uptrend and is currently experiencing a correction phase, bringing it closer to the support and resistance area at 148.800. Adding a fundamental layer to our analysis, it's important to note the recent guidance from the Federal Reserve regarding monetary policy. The Fed's indication that a rate cut in March is unlikely has implications for the strength of the US dollar. Such forward guidance from the central bank can influence market sentiment and impact currency pairs like USDJPY. As traders, it's crucial to consider these fundamental factors alongside technical analysis when making trading decisions. Keeping abreast of central bank communications and their implications for currency movements is key to navigating the forex market effectively. Trade safe, Joe
Long
by JoeChampion
5
Capitalizing on USDJPY's Breakout: A Fundamental PerspectiveIn today's trading session, we're eyeing a buying opportunity on USDJPY around the 148.900 zone. USDJPY recently broke through a significant resistance area and is currently in a correction phase, approaching the retrace area. Technical Analysis: USDJPY's recent breakout above key resistance levels signals potential bullish momentum. The pair is now in a corrective phase, with the 148.900 zone acting as a crucial area for potential re-entry. Fundamental Analysis: Chair Powell's recent remarks regarding the likelihood of a rate cut in March have reverberated through the market. His indication that a rate cut is not the Federal Reserve's base case, coupled with the release of a robust payrolls report, has underscored the strength of the US economy. Despite Powell's access to privileged information, his decision to downplay rate cut expectations suggests a more optimistic outlook for US growth. Historically, strong US economic performance has translated to a positive environment for the Dollar, potentially favoring USDJPY bulls. Combining technical analysis with a fundamental perspective, the outlook for USDJPY appears promising. The recent breakout and correction phase present a strategic buying opportunity, supported by Chair Powell's remarks and strong economic data. Traders should closely monitor price action around the 148.900 zone for potential entry points, keeping a keen eye on broader market dynamics.
Long
by JoeChampion
2
Buy GBPJPY Triangle BreakoutThe GBP/JPY pair on the M30 timeframe displays a bullish signal through a recent upward breakout from a symmetrical triangle pattern, suggesting a potential buying opportunity. Key Points: Triangle Breakout: The price has been consolidating within a triangle formation characterized by converging support and resistance lines. This often indicates indecision before a decisive move. However, the recent break above the upper resistance line at 186.30 signifies a shift in momentum towards the upside. Buy Entry: Consider entering a long position around the current price of 186.45, offering an entry point close to the breakout level. Target Levels: Initial bullish targets lie at the resistance levels of 187.45 and 188.05, marking previous resistance zones within the triangle. Stop-Loss: To manage risk, place a stop-loss order below the support line of the broken triangle at 186.00. This helps limit potential losses if the price reverses and breaks back down.
Long
by KABHI_FOREX_TRADING
20
Sell USDJPY Bearish Channel The USD/JPY pair on the M30 timeframe displays a bearish signal due to a well-defined downward channel pattern, suggesting a potential selling opportunity in the coming minutes or hours. Key Points: Bearish Channel: The price has been confined within a descending channel characterized by two falling lines, one for resistance and one for support. This pattern indicates ongoing selling pressure and potential for further decline. Sell Entry: Consider entering a short position around the current price of 148.03, situated close to the channel resistance. This offers an entry point near a potential reversal zone. Target Levels: Initial bearish targets lie at the support levels of 147.37 and 147.03, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 148.40. This helps limit potential losses if the trend breaks unexpectedly.
Short
by KABHI_FOREX_TRADING
9
Sell GBPJPY Bearish ChannelThe GBP/JPY pair on the M30 timeframe exhibits a bearish channel pattern, suggesting a potential selling opportunity in the coming minutes or hours. Key Points: Bearish Channel: The price has been confined within a descending channel, characterized by two falling lines, one for resistance and one for support. This indicates ongoing selling pressure and potential for further decline. Sell Entry: Consider entering a short position around the current price of 186.40, situated close to the channel resistance. This offers an entry point near a potential reversal zone. Target Levels: Initial bearish targets lie at the support levels of 185.50 and 185.02, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 186.90. This helps limit potential losses if the trend breaks unexpectedly.
Short
by KABHI_FOREX_TRADING
2
Buy NZDJPY Bullish ChannelThe NZD/JPY pair on the M30 timeframe presents a potential buying opportunity due to a well-defined bullish channel pattern. This pattern suggests ongoing upward momentum and a higher likelihood of further advances in the coming minutes or hours. Key Points: Bullish Channel: The price has been trading within an upward-sloping channel defined by two converging lines: a rising support line and a rising resistance line. This ongoing uptrend signals continued buying pressure. Buy Entry: Consider entering a long position around the current price of 90.05, which sits close to the channel support. This could offer an entry point near a potential continuation of the upward move. Target Levels: Initial bullish targets lie at the resistance levels of 90.73 and 91.06, marking previous resistance zones within the channel. Stop-Loss: To manage risk, place a stop-loss order below the support line of the broken channel, around 89.85. This helps limit potential losses if the price reverses and breaks back down. Thank you
Long
by KABHI_FOREX_TRADING
3
Chair Powell's Statements Impact on USDJPY: A Deep Dive AnalysisIn today's trading session, the focus is on the USDJPY pair, with traders eyeing a potential buying opportunity around the 148.100 zone. The currency pair is currently in an uptrend but undergoing a correction phase, with the price nearing the key support and resistance area at 148.100. This analysis is supported by recent statements from Chair Powell, who notably signaled a departure from market expectations by stating that a rate cut in March is not the Federal Reserve's base case. The strong payrolls report further reinforced this message, highlighting the robustness of the US economy. It's essential to consider Chair Powell's perspective, as he has access to more comprehensive information than the markets. Despite this, he chose to push back on rate cuts rather than keeping his options open, indicating confidence in the economy's trajectory. In such scenarios where US growth leads the way, it typically creates a positive environment for the Dollar, adding to the rationale behind monitoring the USDJPY pair for potential buying opportunities.
Long
by JoeChampion
2
SELL NZDJPY Bearish ChannelThe NZD/JPY pair on the M30 timeframe presents a potential selling opportunity due to a well-defined bearish channel pattern. This pattern suggests ongoing downward pressure and a higher likelihood of further declines in the coming minutes or hours. Key Points: Bearish Channel: The price has been trading within a downward-sloping channel defined by two converging lines: a falling resistance line and a falling support line. This ongoing downtrend signals continued selling pressure. Sell Entry: Consider entering a short position around the current price of 89.95, which sits close to the channel resistance. This could offer an entry point near a potential reversal point. Target Levels: Initial bearish targets lie at the support levels of 89.30 and 88.92, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 90.30. This helps limit potential losses if the downtrend breaks unexpectedly. Fundamental Updates : JPY - Service PMI - Now comes with Positive data. Weaker New Zealand Business PMI: Recent data showed a decline in New Zealand's Business PMI for January, raising concerns about the country's economic health and potentially weakening the New Zealand Dollar (NZD).
Short
by KABHI_FOREX_TRADING
10
Double top on GBP/JPY at key resistanceThe Japanese yen may have weakened following the BOJ’s latest ‘non decision’ regarding monetary policy, but markets clearly weren’t surprised enough for it to extend its bearish moves today. Not a single xxx/JPY pair managed to break above its cycle highs, and momentum is now turning lower on these pairs to show a strengthening of the yen. But what has caught our eye is the double top on the GBP/JPY daily chart, as it has stalled around the December 2015 high. Also note that the GB-JP 2-year spread is also quite low relative to spot GBP/JPY, and it makes us wonder if GBP/JPY has risen too far, too soon. The 1-hour chart shows that momentum has turned lower in the first half of Wednesday’s Asian session. Prices are trading beneath the 50-dar EMA and daily pivot, so we would consider shorts below 118.20 for an anticipated move to the weekly pivot around 187.25 – although the cycle lows or daily S1 between 187.32 – 187.40 could also be considered. A break beneath the weekly pivot point assumes a deeper retracement is playing out on the daily chart.
Short
by CityIndex