Early entryLooks like a HS forming up. I opened a short position bc I want a tight SL. If a daily candle breaks up and closes above the right shoulder I'll take the loss.
Yen
The Yen's Resilience Against the Dollar: What’s Happening?Hey there, traders! I’ve been keeping a close eye on the options market lately, and I can’t help but notice a growing trend: traders are actively betting against the further strengthening of the U.S. dollar against the Japanese yen. In other words, forecasting a potential strengthening of the Yen.
Over the past 2-3 weeks, we’ve seen a significant buildup of volume in vertical spreads, primarily targeting this currency pair. But let’s take a moment to look at the bigger picture here.
Since December 20, 2024, the dollar index has climbed by 1.6%, and in the first few days of the new year, the dollar’s momentum has even picked up speed.
However, if you take a closer look at the Dollar/Yen pair, you’ll see something interesting: there’s no sign of growth. In fact, the quotes are just “chopping” around in a tight range, resisting any further weakening of the yen.
Right now, the quotes are still above the average long position of retail traders (open source data), and the bulls seem to be feeling pretty good. But beneath the surface, there are processes at play that are starting to show signs.
Conclusion/
The current situation in the options market and the graphical behavior of the dollar/yen pair suggest that changes in trend may be on the horizon.
Traders should stay alert to these signals and be prepared for potential volatility/decline in the near future. But please don't rush!
Happy trading!
GBP/JPY H4 | Approaching pullback supportGBP/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 195.49 which is a pullback support.
Stop loss is at 194.06 which is a level that sits under an overlap support and the 38.2% Fibonacci retracement.
Take profit is at 198.81 which is a multi-swing-high-resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
USD/JPY H4 | Falling to multi-swing-low supportUSD/JPY is falling towards a multi-swing-low support and could potentially bounce off this level to climb higher.
Buy entry is at 156.07 which is a multi-swing-low support that aligns with the 23.6% Fibonacci retracement.
Stop loss is at 154.30 which is a level that sits under an overlap support and the 38.2% Fibonacci retracement.
Take profit is at 158.03 which is a swing-high-resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
USD/JPY H4 | Potential bullish bounceUSD/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 155.75 which is a pullback support that aligns with the 23.6% Fibonacci retracement.
Stop loss is at 154.30 which is a level that sits under an overlap support and the 38.2% Fibonacci retracement.
Take profit is at 158.03 which is a swing-high-resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Ready to tape read Yen for the last hour of trading?? Hello fellow traders!
Let's observe Yen for the last hour of trading for 2024, that is, 0030 to 0130 New York time . My expectation is that the market will not break pdl , but we could see aggressive selling in the last hour. We've already taken buyside and I'm not expecting it to go above 158.082, which is the 26th Dec '24 high. Short term sellside objectives seem obvious. Do they seem obvious to you?
Not a trading advice.
Enjoy the holidays and wish you all a Happy and Prosperous New Year 2025!!
Fundamental Market Analysis for December 23, 2024 USDJPYDoubts about the Bank of Japan's rate hike plan and widening yield differential between the US and Japan put pressure on the yen.
Traders are expecting a short-term boost from the US consumer confidence index, which will be released on Monday.
The Japanese yen (JPY) starts the new week on a softer note and remains a short distance from the five-month low reached on Friday against its U.S. counterpart. Doubts over when the Bank of Japan (BoJ) will raise interest rates again have proven to be a key factor weighing on the JPY. In addition, the recent widening of the yield differential between the US and Japan, backed by the Federal Reserve's (BoJ) tightening stance, is undermining the low-yielding JPY.
Added to this, the overall positive tone in equity markets is reducing demand for the safe-haven yen. Meanwhile, strong inflation data released in Japan on Friday left room for a potential BoJ rate hike in January or March. This, along with subdued US Dollar (USD) price action, did not help the USD/JPY pair to realize upside potential in the Asian session in the absence of any fundamental catalyst.
Trade recommendation: Watch the level of 156.00, when fixing below consider Sell positions, when rebounding consider Buy positions.
USD/JPY Breakout in Action!⚡ On the 30-min chart, USD/JPY broke resistance and is now pulling back. If it breaks the black resistance line, I’m going long!
Target:
🎯 Next stop: Red zone – a high-volume area!
💬 What’s your strategy for this move?
GBP/JPY H4 | Potential bullish bounceGBP/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 194.63 which is a pullback support.
Stop loss is at 192.70 which is a level that lies underneath an overlap support and the 38.2% Fibonacci retracement level.
Take profit is at 197.35 which is a swing-high resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
USD/JPY Analysis (30-Minute Timeframe)We are currently breaking out of a black trendline, which could signal bullish momentum. My target focuses on the market open, as I anticipate a bullish move, but I will wait for confirmation after the open.
Key levels to watch:
First Pink Zone (Target 1): If the price reaches this level, it will form a new higher high, confirming the bullish trend.
Second Pink Zone (Target 2): If the momentum continues beyond the first pink zone, this will be the next target, indicating sustained bullish strength.
This is a critical setup to monitor, with confirmation needed to ensure the breakout holds.
GBP/JPY: 24-Hour Market Sentiment and Trade Analysis GBP/JPY: 24-Hour Market Sentiment and Trade Analysis
I spend time researching and finding the best entries and setups, so make sure to boost and follow for more.
Market Overview (Last 24 Hours):
- OANDA:GBPJPY is trading near your sell entry point at 194.027, showing signs of bearish momentum on the 15-minute chart.
- Weakness in GBP reflects recent concerns over the UK’s economic data, while the yen benefits from safe-haven flows as risk sentiment deteriorates.
Technical Overview:
- Support Levels: 193.458 (TP1), 192.904 (TP2)
- Resistance Levels: 194.298 (SL), 194.500
- Indicators: Bearish divergence on RSI supports the sell bias, while MACD on the 15-minute chart confirms downward momentum. Price is also testing a descending trendline.
Fundamental Catalysts:
- Economic Data: Recent UK retail sales data showed weaker-than-expected performance, pressuring GBP lower.
- Geopolitical Events: Risk-off sentiment globally has bolstered the yen, driving safe-haven demand.
- Liquidity: Volatility on GBP/JPY remains elevated, providing trading opportunities on the 15-minute timeframe.
Planning:
- Bearish Continuation: A sustained break below 193.800 could lead to TP1 (193.458) and potentially extend to TP2 (192.904).
- Reversal Risk: A rebound in GBP or broader risk-on sentiment could test the SL at 194.298 or higher.
Key Data Points Table:
| Pair | Entry | SL | TP1 | TP2 | Catalyst |
|----------|---------|---------|---------|---------|---------------------------|
| GBP/JPY | 194.027 | 194.298 | 193.458 | 192.904 | Weak UK data, safe-haven flows |
Sentiment Heatmap:
- Market sentiment is mixed, with yen strength driven by risk aversion and GBP facing pressure from weak fundamentals.
Note:
- This setup is ideal for a **short-term scalp** or **day trade**, targeting quick movements within the 15-minute timeframe.
When the Market’s Call, We Stand Tall. Bull or Bear, We’ll Brave It All!
Why we don't trust this bounce on AUD/JPYMy short AUD/JPY bias sprang into action quicker than I expected two weeks ago. While support has since been found, it looks like it wants to retrace against that initial drop. Yet I have my eyes on the bigger (and more bearish) prize, and when comparing this cross to other yen pairs, I suspect another leg lower could be due when the current bounce fizzles out as anticipated.
MS
USD/JPY on the Rebound: Key Insights Ahead of November NFPThe USD/JPY currency pair is witnessing the US Dollar regaining some strength following its reversal on November 15. As market participants look ahead to the critical US Nonfarm Payrolls (NFP) report for November, they are eager for insights into the current labor market conditions. Economists predict that the US economy added around 200,000 jobs, a significant increase compared to October's modest gain of just 12,000. It's worth noting that the NFP estimates for various sectors were impacted by hurricanes that occurred last month. Additionally, the Unemployment Rate is projected to rise slightly to 4.2% from the previous figure of 4.1%.
Attention will also be focused on the US Average Hourly Earnings data, which will provide clues about wage growth trends. An uptick in wages can drive consumer spending, potentially fueling inflation and reigniting concerns about sustained price pressures. Such developments may influence market expectations regarding the Federal Reserve's stance ahead of its December meeting.
Currently, the USD is experiencing a rebound from a demand support zone. Although seasonal forecasts indicate a possible bearish trend, there is potential for the USD to strengthen further, possibly testing the 155 level again.
✅ Please share your thoughts about USD/JPY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
USD/JPY H4 | Heading into swing-high resistanceUSD/JPY is rising towards a swing-high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 151.06 which is a swing-high resistance.
Stop loss is at 152.40 which is a level that sits above the 50.0% Fibonacci retracement level and a pullback resistance.
Take profit is at 149.65 which is a multi-swing-low support that aligns with the 61.8% Fibonacci retracement level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Decoding the Yen: Strategies for the Upcoming ExpirationIn the Yen, our 'old friend' has opened a Straddle, just like he’s done several times this year. Notably, he’s picking a 5-day expiration, which is his signature move tha twe can use to track him. So, this time, the range boundaries are as shown on the chart.
Keep in mind that this is a futures contract on the Yen, not the USD/JPY forex pair. In other words, the quotes are inverted. To get what’s on the screen, you need to do 1/USDJPY.
But it’s way easier to just use the TV options and select '6JZ2024'
Fundamental Market Analysis for December 05, 2024 USDJPYThe Japanese yen is attracting some buyers on Thursday, albeit without bullish conviction.
Rising US bond yields are supporting the US dollar and lending support to the USD/JPY pair.
Traders seem reluctant to make aggressive bets ahead of the release of the US NFP report on Friday.
The Japanese Yen (JPY) rises against its US counterpart during the Asian session on Thursday and moves away from the weekly low reached the previous day. Signs that Japan's core inflation is picking up continue to fuel expectations that the Bank of Japan (BoJ) will raise interest rates again in December. In addition, persistent geopolitical risks, trade war fears and an overnight decline in US Treasury yields are contributing to the yen's gains.
Meanwhile, Wednesday's remarks from a number of influential FOMC members, including Federal Reserve (Fed) Chairman Jerome Powell, served as a tailwind for US bond yields and the US dollar (USD). This, along with the prevalence of risk sentiment, may curb significant strength in the safe-haven Yen and provide some support to the USD/JPY pair. Traders may also refrain from aggressive directional bets ahead of the release of the US Non-Farm Payrolls (NFP) report on Friday.
Trade recommendation: Watch the level of 150.00, when fixing above consider Buy positions, when rebounding consider Sell positions.
What’s Flowing: USD/JPY AnalysisKey Observations:
1. Price Action:
• USD/JPY has bounced from 148.65, showing signs of short-term recovery. However, the overall structure remains bearish with descending resistance levels near 150.30-150.50.
2. Technical Indicators:
• Moving averages suggest further downside pressure.
• Ichimoku cloud analysis highlights resistance in the 149.50-150.30 zone, making it a critical area for sellers.
3. Market Sentiment:
• Seasonal trends show a weakening dollar towards year-end, aligning with current selling pressure.
• Reuters and Dow Jones reports emphasize geopolitical influences and Japan’s policy stability driving yen strength.
4. News Highlights:
• Massive $1.4 billion option expiry today, with strikes at 147, 148, and 150, could add volatility.
• Recent headlines note importer buying interest near 146.50, setting up potential support levels.
5. Support and Resistance:
• Immediate support: 146.28 and 145.00.
• Resistance: 149.50, followed by the psychological 150.30 level.
Trade Insights:
• Bias: Short-term pullbacks may provide opportunities for selling rallies.
• Risk Management: Stop-loss near 150.50 for short trades. Profit targets near 146.50 and 145.00.
This week’s flow will likely hinge on U.S. economic data releases and further commentary from Japan’s BOJ. Be cautious of mid-week reversals.
XAUUSD | 15M | TECHNICAL CHARTI have prepared a OANDA:XAUUSD analysis for all of you. I have marked my target and stop-loss levels on the chart. Thanks to everyone who likes and supports my work. I work hard for you here and I will never give up on you.
We will continue to win together. All I ask is that you show your support with a like.
EURJPY | 30M | TECHNICAL CHART |I have prepared a FX:EURJPY analysis for all of you. I have marked my target and stop-loss levels on the chart. Thanks to everyone who likes and supports my work. I work hard for you here and I will never give up on you.
We will continue to win together. All I ask is that you show your support with a like.
Fundamental Market Analysis for December 02, 2024 USDJPYThe Japanese yen (JPY) is declining against its U.S. counterpart at the start of a critical week and is pulling back from part of Friday's strong upward move to the highest level since Oct. 21. US Treasury yields are recovering amid US President-elect Donald Trump's reaction to the threat of 100 percent tariffs on BRICS countries. This, in turn, is helping to revitalize demand for the US dollar (USD) and is proving to be a key factor directing flows away from the lower-yielding yen.
In addition, the bullish tone in equity markets further undermines demand for the safe-haven yen. Nevertheless, lingering geopolitical tensions and rising forecasts of another interest rate cut by the Bank of Japan (BoJ) in December should limit larger yen losses. Traders are also advised to refrain from aggressive directional bets and wait for important U.S. macroeconomic data this week, starting with the ISM Manufacturing PMI from this Monday.
Consumer inflation data from Tokyo, the capital of Japan, released on Friday showed that core inflation is picking up and bolstered the case for another rate hike by the Bank of Japan in December.
Also Bank of Japan Governor Kazuo Ueda said on Saturday that the next interest rate hike is near as economic data is on track, although he would like to see what kind of momentum the fiscal 2025 Shunto program will create.
Trade recommendation: Trading mainly with Buy orders from the current price level.
EURJPY I Potential retracement and more downside Welcome back! Let me know your thoughts in the comments!
** EURJPY Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
YEN CARRY TRADE ABC RALLY ENDED LOOK FOR 136 /129The chart posted is the yen carry trade We bottomed into my target 138 and then rallied just past my orginal abc target of 155.10 I now feel the the SH!T Is going to HIT THE FAN in ASSETS . Best of Trades THE WAVETIMER
AUDJPY broke the uptrend line. Is it time to sell?The AUD/JPY pair recently made a significant break on the daily chart. The price broke through two significant zones:
1. The uptrend line, which has been supporting prices since August 2024.
2. The sideways range, between 99.70 and 102.00, which had served as a consolidation area for several weeks.
These breakouts indicate a loss of buying momentum, with sellers taking control of the market. Currently, the price is at 98.15, below the 50% Fibonacci retracement of the recent upward movement, with the 38.2% retracement (97.44) as the next intermediate support.
Bearish Continuation Forecast
With the loss of support at 99.70, if the price comes back to the breaking point at 99.50 and it works as a resistance, the downward movement should continue, especially since the breakout was accompanied by a large-bodied daily candle, indicating sellers' conviction. If the price loses the 38.2% Fibonacci retracement at 97.44, the next targets would be:
94.60 - Target projected by the 23.6% Fibonacci retracement, in addition to being a significant psychological zone.
90.00 - A long-term support, marked by the low of the July 2024 bearish movement.
This scenario will be reinforced if buyers fail to defend the next support zones.
Possibility of Retracement, an Alternative Scenario
Although the breakout indicates weakness at the moment, there is a possibility of a pullback to retest the 99.70 region or the broken uptrend line. If price manages to break above this level, there is a chance that the AUDJPY will resume the uptrend. In this case, the short-term targets would be:
102.00 - Former resistance and the top of the lateralization.
104.75 - An important level that acted as resistance in May 2024.
For the price to initiate a stronger reversal, a sustained breakout above 100.00 would be necessary, which would cast doubt on the strength of the sellers.
The AUD/JPY presents a dominant bearish outlook after the recent breakouts. The next critical zone will be the support at 97.44, which will determine whether the price will continue its downward trajectory or make a pullback to retest the broken levels. This is a crucial time to observe the price reaction at the support and resistance zones, seeking confirmation for both scenarios.
Disclaimer:
74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
