JPYUSD
💵 DOLLAR/JAPANESE YEN💴 Is this the end of the channel?🎌💥HOW ARE YOU DOING, GUYS!? 👋ARE YOU OK?
🎌🎌🎌The Japanese Yen has a very interesting chart, 📊the price stay in a parallel upward channel.💹
🔍There are several predictions for the price, because the story is very fast.😵
💡I'm more inclined to move up in the medium term, but on the hourly chart, the price may shake a little.⚡
🎎Do you trade Japanese yen?🎴
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🇺🇸| 🇯🇵 USD / JPY Downtrend ChannelWelcome on Japanese Yen analysis!
JPY is moving in downtrend channel, which we can use in mid term to gain some profits.
In short term we in Falling Wedge, but this can move price to upper resistance of the channel.
As next move if price break 107 price level, will lead price down to 106-105 zone.
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This is just speculative idea, to map the USD-JPY chart for future trades.
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Possible Long USD/JPY position!!SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
SMP Strategy
Chart time frame - H4
Timeframe - 2-3 Days
A – Activating Event
Market will meet resistance in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market will move towards the first Target 1 level @ 111.2
C - Fundamentals that may affect the pair
@ 23:00 on the 3/04/2020 AEST USD unemployment rate
D - Trade Management
Entered @ .....
Stop Loss @ .....
Trailing Stop Loss@.....
Target 1 @ 1.447
Target 2 @ ....
Risk/Reward @ 2.1
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This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
JPY/USD LONGHI friends
After weeks of jpy falling against the dollar, jpy was able to pull out of its cloud computing course, leaving the cloud not an hour to buy, but the price could touch the first resistance and if the resistance breaks then the next resistance is coming.
And according to the downward trend of the usd / jpy analysis so the jpy / usd currency pair can grow well.
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Big Picture: $SPX, $VIX, 10YR, $AAPLThe Dow just closed 10%, making it the largest single-day point decline since 1987.
The main issue I have with this though is, there is no catalyst in the near-term to reverse things. The selling really just compounds on itself now. Very little of this actually correlate to underlying fundamentals... which is even more worrying.
Meanwhile, the dollar remains surprisingly strong relative to other countries, though, versus Asia basket, we are getting kicked.
Guess we'll just be waiting for ol' J.P. to take the stage next week. The $500M repo is a great starting point, but it's really going to take more than cash infusions to stop the pan(dem)ic.
www.reuters.com
USD/JPY (LONG) - Technical & Fundamental AnalysisI will be looking to enter a long trade within the purple box which is a key daily zone that has previously acted as a resistance for price and we are now looking for it to act as support.
We have added confluence to this trade via the blue trend line which we can see has previously been well respected and therefore this increases confidence that this will serve as an area of support.
Fundamentally, we have seen the dollar finally start to show some weakness today following the steep decline in US equities caused by the growing market fears of a Corona Virus pandemic. However, it is my view that this will be a short lived decline for the dollar. It is still perceived to be the strongest economy in terms of weathering an economic slowdown should the virus continue to worsen. The Yen on the other hand is facing a weakening economy which will only get worse given its closer exposure to China, therefore this correction is USD/JPY is likely to be short lived and we look to take a long position using tech analysis to find our entry
JPYUSD Third leg M in productionDaily Chart:
Price action is touching higher timeframe trendline en will have higher probability to come down again.
Also M in production to produce its third leg down.
With Fibonnaci in place, my projection TP is back down to the 100% fibonnaci.
Wait on Price action on the 1 Hour Time Frame. (Sell position)