JXY
USD/JPY SHORT SETUPUSD/JPY has setup for a short this week
DXY has rejected key weekly resistance 95.00 with a bearish weekly candle, i think DXY pulls back from here before going long.
JXY is also in a long term bullish channel which is near support.
ENTRY: 109.500
SL : 110.280
TP : 107.867
I will update as we go....
EUR/JPY SHORTEUR/JPY 0.11% i am starting to enter short positions after yesterdays engulfing daily closure of last 8 days action.
See from image that the trend lines are indicating bearish momentum.
After ECB Dovish meeting yesterday we are looking at heading towards the 124.00 mark.
JXY -0.25% is also due a bounce higher off its daily bullish channel .
I will update as we go...
Global-Review / May 14th : Big cluster today on Wallstreet.Hope this idea will inspire some of you !
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Kindly,
Phil
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Bullish on Japanese Yen / JXYJapanese yen (JXY) broke from a big bearish channel and started heading to the skies. Now it pulled back to 200 EMA and horizontal support level (that was once a resistance). I expect a bounce off that level. It might test it a few more times penetrating it but the eventual route is up. The worst scenerio: it can drop down to the triangle trendline (in which it got cornered) but then it will bounce up to the other upper side of the triangle anyway. And the ultimate breakout from the that triangle should be upwards as shown on the chart (in accordance with a previous trend, as it already tested the ultimate bottom). When trading Japanese Yen pairs (GBPJPY, GBPUSD, NZDJPY, AUDJPY, EURJPY...) keep in mind where the yen is going as we trade the spreads between 2 different currencies in each pair.
Global-Review / May 4th : the SPX VIX GOLD YEN quartet !Hope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
If you want to see my chart more closely, click the share button below that video.. You will be able to have access to the chart used in that video.
Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum .
You can check my indicators via my TradingView's Profile : @PRO_Indicators
Kindly,
Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :