USDJPY Plus DXY and JXY Technical Analysis👀 👉 The USDJPY pair recently broke structure bullish, as seen on the 4H timeframe. In this video, we closely examine the DXY, JXY, and USDJPY, discussing the trend, market structure, and price action. We also explore a potential trade setup.
**Disclaimer:** Forex trading involves significant risk, and market conditions can change quickly. The information provided is for educational purposes only and should not be considered financial advice. 📉 ✅
Jxyanalysis
JPYX Japan Currency Index IdeaThe JPYX has reached a significant support level on the daily chart. I foresee a potential retracement, considering its entry into past daily lows and the current price swing being excessively extended. A JXY retracement towards the 61.8 Fibonacci level may present trading opportunities. It is important to note that the information presented here is intended solely for educational purposes and should not be interpreted as financial advice.
USDJPYIs USDJPY exhausting at highs?
As the price is been on high bull run but now it seems like price is lacking bullish momentum after printing double top pattern(ON LOWER TIME FRAME) at resistance level, suggesting the sell pressure is about to start.
If the bears took control , the 1st target could be 147.
What you guys think of it ?
(Weekly backtest and review) JXY sinks faster than expectedWith BOJ ultra loose monetary policy, JPY value looking to depreciate overtime in long term.
Recently, with the news of Fukushima radioactive water release into the Pacific Ocean announced by Japanese government believe would be impact Yen, and making JXY value expect to fall as faster than expected.
(Weekly backtest and review) JXY retesting resistance 69.00JXY index fall tremendously last week, greater than our expectation. Indicating weak buying sentiment at JXY previous support level at 69.00.
However, although we're expecting JXY will hit further lows in long term, next week may have a small bull(short term bullish outlook) on JPY against other currencies.
Japanese Yen Bullish Divergence on DailyTrade Safe - Trade Well
Regards,
Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.
RISK DISCLAIMER
Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose