JXY
USDJPY H1 - SellDear Traders,
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Bearish AB=CD spotted on JXYthe index is on long-term uptrend but a bearish correction is expected for couple of weeks with abcd pattern , overbought on stochastic , and reaching 1.27 on fibo levels , the bearish move wil continue till the 0.681 fibo of the uptrend ( japenese yen pairs are mostly for sell in these couple of weeks especially against usd )
Yen group - Long-term wave analysis - 01Yen group - Long-term wave analysis.
JXY - Japanese Yen Currency Index weekly chart
JXY BULLISH RELATED TO CRYPTO GOLD STOCKS AND ECONOMIC OUTLOOK
The Japanese Yen is looking to break out of my wedge. People are looking to hedge their money in the yen, meaning bullish gold and bitcoin. We shall also be seeing a recession soon in the US.
JXY Downtrend"The U.S. stands out for its positive returns. Ten-year Treasury rates were at 2.16% on May 31, vs. -0.09% for Japan and -0.20% for German equivalents. The dollar has been taking away the mantle of safe haven thanks to interest-rate differentials.
The flows into yen as a safe haven remains, but for us to see it go down to, say, 105, you’ll need to see a major geopolitical shock happen."
Quoted from Jane Foley, head of currency strategy at Rabobank International in London.
Interesting TimesDXY is heavy in the Euro. Euro stock market peaked end of 1999. This caused huge rise in DXY starting in 1999. Huge rise in DXY keeps WTI & GOLD down like it always does in the central bank era. Europe begins to recover in 2002 which causes DXY to fall. WTI & GOLD rises rapidly as DXY crashes. WTI rises much quicker than GOLD. WTI becomes unsustainable and collapses world markets. Monetary policy causes volatility in all currencies worldwide while GOLD skyrockets and WTI rebounds while DXY jumps around its lows. Euro takes a dive in 2011 which brings DXY back up until 2014. Once DXY is strong enough, US switches policy to tightening as the DXY regains its footing at the expense of Europe. WTI & GOLD collapse with the rising DXY due to tightening. Euro slides as result and then Brexit and European Sovereign issues. DXY gets slight gains through all that. Fed stops tightening in 2017 to give Europe a chance to recover and the DXY drops. 2018 Fed tightens again, DXY rises, WTI & GOLD come back down while US & European Markets are volatile in sync. I think this might explain why price discovery is so challenging these days. What should we expect the rest of 2019 now that we have bubbles, QT, negative rates, and commodity prices relatively stable? Do the Euro shorts win as the DXY jumps or do the Euro longs win and DXY falls? How does this unfold?
