Could Price Bounce From Here?NZD/JPY is falling towards an extreme support zone which the price has been respected multiple times.
I believe a bounce could lead the price to rise to the upside
Jpy
Potential bullish bounce?AUD/JPY is reacting off the pivot which has been identified as a pullback support and could bounce to the 1st resistance.
Pivot: 106.65
1st Support: 107.83
1st Resistance: 107.83
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish rise?EUR/JPY has just bounced off the support level which is an overlap support and could potentially rise from this level to our take profit.
Entry: 171.81
Why we like it:
There is an overlap support level.
Stop loss: 170.91
Why we like it:
There is a pullback support that lines up with the 127.2% Fibonacci extension.
Take profit: 173.24
Why we like it:
There is an overlap resistance level which lines up with the 50% Fibonacci retracement.
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Potential bullish bounce?CAD/JPY has just bounced off the support level which is a pullback support that that aligns with the 127.2% Fibonacci retracement and could rise to our take profit.
Entry: 115.51
Why we like it:
There is a pullback support level which aligns with the 127.2% Fibonacci extension.
Stop loss: 115.03
Why we like it:
There is a pullback resistance resistance level which aligns with the 161.8% Fibonacci extension.
Take profit: 116.97
Why we like it:
There is an overlap resistance level which is slightly above the 38.2% Fibonacci retracement.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Could USD/JPY rise from here?USD/JPY has reacted off the pivot which acts as an overlap support and could rise to the 1st resistance that is an overlap resistance.
Pivot: 157.42
1st Support: 156.41
1st Resistance: 159.37
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Still bull on longer horizon..but waitTradingview Ideas:
Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Will still be bias on the long side, will take some long next week if i see change of trend coming.So far lower timeframe suggest that it still might go lower.
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
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USDJPY Higher Time Frame AnalysisJapanese Yen collapse continues with its lowest closing price in 34 years. If it falls through 160, it will be the lowest level against the U.S. Dollar since the 1980s. It can get even worse. Let's look at some charts:
1. We are currently sitting at 160 resistance level where a W FCP pattern is completed which can give us a correction. This is the last level which is preventing the USDJPY from slingshotting upwards.
2. A CUP formation is happening at the moment (rounding bottom). So if the correction comes at the current levels, that can make this a Cup and Handle pattern.
3. If the correction does not occur or we get a shallow one, these current levels can become a new support which can push USDJPY higher once confirmed.
4. There are several gaps left in 1980s. I posted about these gaps in my previous post approximately 7 months ago, indicating that USDJPY would be bullish.
5. These are the levels where in the long run USDJPY can go to complete a big W pattern.
This can have a huge impact on the #dollar index (DXY) too.
I recently did a premium analysis report on USDJPY and DXY (dollar index) for a client which has a more in-depth analysis and potential target zones/levels. Get in touch with me via DM if you want to order a copy of that report.
If you found this interesting please consider supporting this analysis by liking, commenting, and sharing with friends, colleagues, traders, and trading communities. Thanks👍🙂
Could EUR/JPY reverse from here?The price is rising towards the pivot which acts as an overlap resistance and could potentially reverse to the 1st support.
Pivot: 173.65
1st Support: 171.82
1st Resistance: 174.53
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
NZDJPY Sell signal at the top of the Channel Up.The NZDJPY has been trading within a Channel Up pattern since the March 24 2023 bottom and today just made contact with its top (Higher Highs trend-line). We expect a strong rejection, similar to July 05 2023 that pulled-back all the way to the 0.5 Fibonacci retracement level and the 1D MA100 (green trend-line).
As a result, we treat today's rejection as a strong sell opportunity. Our Target is 95.580 (Fib 0.382).
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CADJPY Strong sell opportunity at the top of the Channel UpThe CADJPY pair gave us an excellent buy signal last time we looked at it (May 30, see chart below) that easily hit our 116.500 Target:
Now it is flashing the opposite, a strong sell signal right after a Higher High (top trend-line) rejection on the 7-month Channel Up pattern. Ahead of a 1D MACD Bearish Cross, the opportunity becomes even more obvious.
Every Bearish Leg hit at least the 1D MA50 (blue trend-line) before making a Higher Low, so our Target is set at 115.500, which is an optimal level towards the final week of July.
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NZD/JPY H1 Channel BreakoutThe NZD/JPY pair on the H1 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 98.50, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 98.03
2nd Support – 97.80
Stop-Loss: To manage risk, place a stop-loss order above 98.90. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you
USD/JPY Reaches Decades-High Levels Amid Strong Resistance
Current Overview:
- Price:161.091
- Time Frame: 4-hour chart
Key Observations:
1. Highest Price in Decades: The price has reached levels not seen since 1989, indicating a significant bullish trend.
2. Strong Resistance Zone: The highlighted green area indicates a strong resistance zone from 1989. The price has recently touched this area and shows signs of potential reversal.
3. Demand Zone: A significant demand zone is marked around 159.820, indicating a possible area where buyers might step in if the price falls to this level.
Trend Analysis:
Uptrend: The overall trend is bullish, with the price making higher highs and higher lows consistently over the past few months.
Recent Reversal: The price recently touched the highest resistance zone and showed signs of reversing downwards.
Potential Scenarios:
Bearish Scenario:
Immediate Downtrend: If the price continues to fall from the current level of 161.091 and breaks below the support at 159.820, it could signal a stronger bearish trend.
Further Downside Targets: Should the bearish momentum continue, the next support levels to watch are 157.974, 156.587, and potentially down to 152.854.
Bullish Scenario:
Support at 159.820: If the price finds support at the 159.820 level and bounces back, it could indicate the continuation of the bullish trend.
Resistance Levels: In this case, the price might aim to retest the recent highs at 162.058 and 163.215.
Key Levels:
- Pivot Level: 161.091 (current price)
- Resistance Levels: 162.058, 163.215
- Support Levels: 159.820, 157.974, 156.587, 155.949, 152.854
Expected Range:
- Immediate Range: The price is expected to trade between the support at 159.820 and resistance at 162.058 in the short term.
- Broader Range: A broader range could see the price fluctuating between 157.974 and 163.215, depending on the strength of the current trends and market conditions.
Conclusion:
USD/JPY is at a critical juncture, having reached the highest levels in decades. The price action around the strong resistance zone and the subsequent demand zone will be crucial in determining the next direction. Traders should watch for confirmation of a reversal or continuation before making significant trading decisions.
previous idea:
Bearish drop?USD/JPY has reacted off the pivot which has been identified as an overlap resistance and could potentially drop to the 1st support.
Pivot: 161.14
1st Support: 159.80
1st Resistance: 161.89
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
SELL AUDJPYToday we are monitoring AUDJPY for a sell opportunity, our entry is at current market price 108.200 and stops above 108.400. Target1 is 107.730, target 2 is 107.552 target 3 is 107.377 and final target is lows of 107.00 Use proper risk management.
CHFJPY Channel Up resuming towards 189.000The CHFJPY pair is about to end a short-term consolidation, which seems to be symmetrical with the first week of May 2023. The long-term pattern is a Channel Up since December 2022 and the Higher High on that sequence was priced on the 3.0 Fibonacci extension.
As you can see the 1D RSI sequences between the two Bullish Legs fractals are very similar and we are currently on a bounce formation similar to the May 11 2023 bottom. Our long-term Target is 189.000 (just below the 3.0 Fibonacci extension).
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USDJPY / Sustained Bullish Momentum with Key Support at 157.97USD/JPY 4-Hour Chart Analysis
Trend Analysis:
- The 4-hour chart exhibits a prevailing uptrend, characterized by higher highs and higher lows, signifying sustained bullish momentum.
- Recently, the price has encountered some volatility but continues to hold above critical support levels.
Bullish Scenario:
- As long as the price trades above 157.97, the bullish trend is expected to persist, targeting 159.82. A possible retest of the 157.97 level may occur, followed by a renewed upward push.
Bearish Scenario:
- For a bearish shift, the price must breach the support line at 157.97, potentially targeting 157.38.
Key Levels:
- Pivot Line: 157.975
- Resistance Levels: 159.200, 159.820, 161.700
- Support Levels: 157.390, 156.590, 155.950
Conclusion:
The USD/JPY 4-hour chart indicates a strong bullish trend with ongoing upward momentum. It is advisable to consider long positions, aiming for the resistance levels at 159.82. While monitoring for potential consolidation or pullbacks is essential, the bullish trend remains the preferred direction at this time.
AUDJPY Approaching the long-term Sell ZoneThe AUDJPY pair gave us an excellent short-term sell signal last time (May 23, see chart below) but after that broke above the medium-term Channel Up aggressively:
We now need to zoom out to the longer term 1W time-frame, where we clearly see the dominant pattern of the pair, which has been a Channel Up since the March 16 2020 (COVID) market bottom. Each Higher High was formed when the 1W RSI started forming a Bearish Divergence on Lower Highs. The 1st Bullish Leg was priced after a +32.90% rise, while the 2nd one at +26.70%.
As a result, with the 1W RSI overbought above 70.00 for the 2nd time in 6 weeks, we believe that the pair is approaching its long-term Sell Zone on the Higher Highs region. Its Higher Lows have been priced near or on the 1W MA100 (green trend-line), so we will take this sell opportunity to target 101.000 (expected contact and breach of the 1W MA50 (blue trend-line)).
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JPY remains under selling pressureThe Japanese government is currently enjoying the weaker yen, as it helps boost the economy. However, this is only a short-term solution, as eventually, people's anger about rapidly rising prices might overshadow that government's positivity.
#audjpy EASYMARKETS:AUDJPY FX_IDC:AUDJPY
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GBPJPY: Needs a Rest!Hello traders,
JPY journey to lost it's value was profitable for many traders. but when it's going to end? i suggest observing HTF and I'll do in near future.
But for mid-term view I think we might see a reversal so if you are an intraday trader please take less risk in longing the pair.
I'm waiting for middle or bottom of the channel to start longing again!
How much more will the yen continue its devaluation?Still no support from the BoJ to stabilize their Japanese yen. But there is a reason for that...
#USDJPY EASYMARKETS:USDJPY FX_IDC:USDJPY
Disclaimer:
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bias still on the upside for UJ,can look at AJ too...Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Do check out my recorded video (in trading ideas) 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.
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CHFJPY : Rising channel at the top - trend weakening?The pattern developing at the top suggesting slowdown in absolute bullish momentum.
If the rising channel is broken then on retest we may see a sell side entry with good RR ratio.
On the watchlist for now.
EURJPY On a very aggressive Bullish Leg.The EURJPY pair is extending the rise since the December 04 2023 Low, which was a Higher Low on the 27-month Channel Up. Technically, we are half-way on the new Bullish Leg of the pattern and as you can see the 1W MA50 (blue trend-line) has been the ultimate Support since its start.
The previous 2 Bullish Legs have rose by at least +19.30%, so we expect a similar development. Our Target is at 180.000 (marginally below the +19.30% mark).
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