Usdjpy could be seeing a turn ,mindful of spikes on monday Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Chart wise it seems to be heading more to the downside resuming its downtrend.the friday's move was due to the election in japan. Now that the result is out, let's see how the market react on monday.
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
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Jpy
GBPJPY: Inverse Head and Shoulders calls the bottom.GBPJPY got oversold on its 1D technical outlook (RSI = 28.124, MACD = -0.770, ADX = 29.222) as it was rejected today on the 1D MA50. On Sep 16th it touched the bottom of the long term Channel Up and rebounded, while the 1D RSI has been on a bullish divergence. We expect this bottom to be in the form of an Inverse Head and Shoulders. We are aiming for the 1D MA200 and the 0.5 Fibonacci level (TP = 150.500).
See how our prior idea has worked out:
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The USDJPY correction is coming to an end H4 26.09.2024The USDJPY correction is coming to an end
The yen is now forming a correction and the price has hit the marginal resistance zone around 145. From it I expect a bounce down to test the lower boundaries. Also, there was a rotation in the area of the zone in the past and periodically rebounds were made. Therefore, there is a probability that this time they will be able to bounce down at least locally. I don't see the options falling further than 139, but I aim for 140 approximately.
OANDA:USDJPY
Potential bullish bounce?GBP/JPY is falling towards the support level which is a pullback support and could bounce from this level to our take profit.
Entry: 193.28
Why we like it:
There is a pullback support level.
Stop loss: 190.41
Why we like it:
There is an overlap support level that lines up with the 38.2% Fibonacci retracement.
Take profit: 199.15
Why we like it:
There is a pullback resistance level that aligns with the 161.80% Fibonacci extension.
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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.
Bearish reeversal?USD/JPY is rising towards the pivot which is an overlap resistance and could reverse to the 1st support level which acts as an overlap support.
Pivot: 145.97
1st Support: 144.28
1st Resistance: 147.63
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.
Buy NZD/JPY Bullish ChannelThe NZD/JPY pair on the M30 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Bullish Channel pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around the current price of 90.80, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 91.49
2nd Support – 91.92
Stop-Loss: To manage risk, place a stop-loss order below 90.35. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
USDJPY: Going for the 1D MA200. Bottom priced in.USDJPY is neutral on its 1D technical outlook (RSI = 52.086, MACD = -0.760, ADX = 27.579) as it is recovering from the previous oversold state and is already approaching the 1D MA50. September 16th was technically the new HL on the one year Channel Up bottom, with the 1D RSI already on a bullish divergence. These are all formation we saw on its previous bottom on January 16th 2023, whose rebound that followed initially hit the 1D MA200 before going for a full yearly extension. That's our medium term target again (TP = 150.500).
See how our prior idea has worked out:
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GBPJPY Best long-term buy signal you can get.The GBPJPY pair closed last week above the 1W MA50 (blue trend-line) and this week opened above the 1D MA50 (red trend-line). The long-term pattern has been a Channel Up since the September 2022 market bottom and since the July-August Bearish Leg, the pair has been pricing its new bottom (Higher Low).
The break-out above the 1D MA50, while at the same time the 1W RSI breaks above its MA, has been the ultimate long-term buy confirmation during the last bottom formation in February 2023. Since the Bullish Leg that followed rose by +20.15% and a little below the 2.0 Fibonacci extension, we expect a similar rally, thus settling for a 220.000 Target.
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NZDJPY Huge long-term bullish signal emerged.The NZDJPY pair gave us an excellent sell signal last time (July 10, see chart below) and not only hit our 95.580 Target but broke below and invalidated the medium-term Channel Up:
The long-term Channel Up however, is still intact and it is evident on the 1W time-frame where the July-August sell-off found support and stopped exactly on the 1W MA200 (orange trend-line).
This alone is the first long-term buy signal. The second is a double one and will be given if the price closes above the 1W MA50 (blue trend-line), which has already rejected the uptrend twice since August and the 1W MACD forms a Bullish Cross. As you can see on this chart, every time the 1W MACD Bullish Cross coincided with a price closing above the 1W MA50, it was the strongest buy confirmation since 2020.
So if that confirmation is achieved, we will turn bullish with our Target being 102.000 (+18.31%, the minimum Bullish Leg rise within the Channel Up).
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USDJPY Excellent multi-month buy opportunity here.The USDJPY pair has formed the bottom we expected on our last idea (August 22, see chart below) and seems to be finally giving us the long-term buy opportunity we wanted:
The RSI has already formed a reversal pattern similar to the January 16 2023 bottom and the confirmation will come when the 1W MACD forms a Bullish Cross, a formation we only got twice in the past year and was a confirmed buy signal.
Our Target remains 161.800, the symmetrical Resistance 1 level, similar to where the November 13 2023 High was priced.
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Overlap resistance ahead?AUD/JPY is rising towards the resistance level which is an overlap resistance and could reverse from this level to our take profit.
Entry: 99.77
Why we like it:
There is an overlap resistance level.
Stop loss: 101.47
Why we like it:
There is a pullback resistance level that aligns with the 127.2% Fibonacci retracement.
Take profit: 96.87
Why we like it:
There is an overlap support level that aligns with the 38.2% Fibonacci retracement.
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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.
Bearish reversal?NZD/JPY is rising towards the resistance level which is a pullback resistance and could reverse from this level to our take profit.
Entry: 91.54
Why we like it:
There is a pullback resistance level.
Stop loss: 92.98
Why we like it:
There is a resistance level at the 127.2% Fibonacci extension and the 61.8% Fibonacci retracement.
Take profit: 89.59
Why we like it:
There is an overlap support level that is slightly below the 23.6% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
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.
Bearish drop?USD/JPY is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 1st support which acts as an overlap support.
Pivot: 143.51
1st Support: 141.69
1st Resistance: 145.08
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.
AUDJPY - Top In Place! 1500pips Done, 5000pips To Go!In our last analysis we identified that we were looking toppish and gave several ways to confirm the reversal and get in.
We reversed perfectly and dropped 1500pips! We are now seeing a lower timeframe correction but we are still primed to drop another 5000pips.
On lower timeframe, watch for the completion of this correction. Again, we can use several ways to identify when the next big swing is confirmed:
1. Trendline Break
Watch for price to break a trendline that price has been respecting
2. BOS
Watch for price to break a significant swing point
3. Moving Average break
Watch for price to break a moving average that has been respected well
We'll post lower timeframe chart if there's enough engagement with this trade idea!
Goodluck and as always, trade safe!
You can find our previous analysis below:
CADJPY Strong buy at the bottom of the 2-year Channel UpLast time we gave a signal on the CADJPY pair (July 09, see chart below), we got the sell we wanted, as a brutal collapse started straight after:
This time we get a strong buy signal as the price is rebounding after a Double Bottom on the Higher Lows trend-line of the 2-year Channel Up. This is similar to the January - March Double Bottom, which until now, has been the strongest long-term buy signal on the pair.
Once the price breaks above the 1D MA50 (blue trend-line), we will have the buy confirmation we need to target the 0.9 Fibonacci level (like June 23 2023) at 117.100.
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Reading The Tape on USDJPY (ICT) - 24th Sept 2024 In this video I practice reading the tape using ICT Concepts, as well as offering general advice to those using his concepts or otherwise.
I hope that you find this video insightful. If you have any questions, leave a comment and I will be glad to answer.
- R2F
Buy USDJPY Bullish ChannelThe USD/JPY pair on the M30 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Descending Triangle pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around the current price of 143.77, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 145.38
2nd Support – 146.08
Stop-Loss: To manage risk, place a stop-loss order below 143.00. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
Falling towards 38.2% Fibonacci support?USD/JPY is falling towards the support level which is an overlap support that aligns with the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 142.40
Why we like it:
There is an overlap support level that aligns with the 38.2% Fibonacci retracement.
Stop loss: 141.04
Why we like it:
There is an overlap support level.
Take profit: 144.46
Why we like it:
There is a pullback resistance level.
Enjoying your TradingView experience? Review us!
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.