USDJPY Short Term Suggestion: ShortDay candle closed below 108.450 and shows a reasonable momentum candle for the next session.
Would recommend day traders to look for short entries in the coming week as price action retraces down to around the 108.000 area for the pragmatic traders, and around the 107.300 area for those a little bit more adventurous.
Jpyshort
Short EUR x JPY - Long TermLong Term profit investment -
ECB - Draghi announced today that they will be careful with inflation and the economy slow down, also stating that they are likely to keep the idea of cutting rates in mind, investors saw this as a bearish sign for the European economy, which will be depreciating the EUR against a basket of major currencies across the markets.
EUR x JPY have been o a bearish trend for months now, due to the Italian recession last year, and now with a possible recession in Europe as a whole, as JPY is a safe haven currency, and whenever there is fear in the markets or political and economic uncertainty, investors tend to put their money into Japanese bonds, which increases the Yen's value and right now is the perfect opportunity to buy the Yen against the Euro.
JPY index Approaching Support, Prepare For A Bounce
JPY index is approaching its support at 0.145 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.147 (61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support where a corresponding bounce could occur.
JPY - Decline to start soon - JPY WeaknessThe chart shows the JPY weighted index on a daily time frame, creating a bearish bat harmonic pattern.
Furthermore, the last 3 daily candles together have formed a three pin pattern (Evening Star formation) indicating bearish reversal.
I expect JPY to start showing signs of weakness in the next couple weeks across the board, meaning potential XXXJPY buys.
The chart might also rise to the marked horizontal line, where the 88.6 harmonic level will be satisfied.
(The harmonic pattern has been drawn from the second highest daily point after the 3rd January spike, which has not been taken into account for this analysis.)
@PipsOfPersia
t.me
USD/JPY SHORT & BEAR PLAY USD/JPY has been on in a rising channel making decent HH & HL, with a decent and clean market structure. The market broke out of the trendline with the first impulse push and later started the exhaustion move to the upper resistance area, Market has fully exhausted its bullish push and UJ bear market has come to stay. The bullish daily engulfing at the zone is a clear sell signal and the market is on its way down. I expect the price to get to all the TP areas.
EUR/JPY SHORT & BEAR PLAY EUR/JPY still looks bearish on the bigger TFs like the Daily and weekly after the breakout of the ascending trendline and retest, however price is creating a similar ascending channel on the 4 hr TF with a final leg of the impulse wave setting up a completion in confluence with the resistance zone and 200 ema. Price could go either way but I would prefer to see price play out the short possibility of a break & retest of the ascending trendline and see price head back to the downside for a new lower low on the daily timeframe if we see price below the 123.600 zone. It's worth to note EJ is creating LH & LL on the daily TF.
NZD/JPY SHORT & BEAR PLAY NZD/JPY has been on three months ascending channel but luck ran out for the bulls as the market broke out of the channel after meeting strong monthly resistance, the market broke out and retested with a long bearish candle on the daily TF with the 200 EMA crossover to the downside. Reasons for shorting this pair;
1. Ascending Channel Break
2. A retest of the channel
3. 200 EMA cross over to the downside
GBP/JPY SHORT & BEAR PLAYGBP/JPY has been on a long term uptrend channel making higher highs and higher lows, however the bulls control of the market is running out of steam and bears have successfully broken out of the channel. The extra sell confirmations were the double top rejections and the retest of the trendline with resulting Long bearish 200 EMA candle cross-over to the downside and daily pinbar close. Fundamentally GBP has been under lots of pressure, all 8 Brexit proposals submitted by Theresa May (British PM) was rejected by the House, this has resulted in investor uncertainty and doubts in the next move for a completed Brexit soon. Technically and Fundamentally GBP is weak and bears have control.
GBP/JPY -- Institutional money is SHORTThis is a great scenario showing institutions manipulating the retail trader at the price of 148.9 -- price was pushed above previous highs in an uptrend signifying further upside to the novice trader. HOWEVER, our team took a high-level view of the market and noticed momentum to the upside was slowing and the charts were pointing to a downside move with extreme force.
We were ready to enter short when price started reversing at 146.2 with stops above the most recent highs.
Our risk to reward ratio is at 3x which is an industry-leading risk management ratio.
Target 1 -- 143.3
Target 2 -- 139.5
Target 3 -- 136.4
Multiple targets allow us to manage risk and take profits at every step of the trade.
UJ Quick +25 pip ShortQuick, Simple, Analysis based on price behavior I've seen over and over and over.
DXY Directional bias is bearish but we could expect a bullish Legg upwards, however I've learned Trends usually tend to keep trending in their direction until major support. So I would say chances are bigger UJ will dump since we went up a lot and DXY bias is still bearish for now.
EURJPY - A Great Short Opportunity!Hey followers and other TradingView users!
From my viewpoints, here is a pretty decent sell setup.
Some powerful and important price action criteria matching each other in one area which makes this blue area definitely rejectable :)
NB: The price has to come into the sell area exactly! into the blue box, IF it doesn't reach into the blue area before the box ends then this trade is invalid!
Please, do not forget to support my idea post by hitting the "LIKE button!
Thank You very much!
Have a nice day!
Cheers!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Strategic short on AUDJPYHere we are actively in the market for further downside in AUDJPY after retesting 78.6.
=> From a fundamental perspective the outlook in Australia continues to weaken. Credit, housing and confidence are all slowing and a dovish RBA is the icing on the cake.
=> The "positive" headlines this morning from the US-China trade is increasingly priced in and we see this as a selling opportunity as there is limited upside in AUD from a potential deal.
=> JPY should also catch a bid from US outflows. Headwinds are appearing in earnings and global growth is also slowing.
The risk here to our idea is on the top-side. To give a meaningful break we would need to see a pickup in global growth which in turn will support commodity demand.