Yen
Joe G2H Trade - EURJPY swing failure on the daily?Trade Idea: Selling EURJPY
Reasoning: Major resistance on the daily chart, swing failure?
Entry Level: 147.90
Take Profit Level: 146.41
Stop Loss: 148.66
Risk/Reward: 2.08/1
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EURJPY Short or Long?On this pair, I have identified a supply zone and a demand zone. The objective will be to find an entry point within the supply zone to open a short trade. If the price, instead, were to break the supply zone, I will look for a bullish setup.
Let me know what you think in the comments.
Have a nice trading!
USD/JPY could repeat an uptrend just like last yearHello traders:
USDJPY was stable and low volatile in how the wealthy grew in 2022. Is this trend underway again recently as most western stock markets have flatlined? They may start to decline, and the US dollar could strengthen just like in 2022. What do you think? Are we repeating next year at all?
USDJPY Short or Long?After an initial bearish setup and a short trade closed at 2.5 RR, the market is now showing signs of resistance around 137.70. At this point, I have identified a potential demand zone, which is an area where the price could bounce before continuing its downward trend. However, this zone could also act as a strong resistance before we see the price go even lower. That's why, in case of a short trade, I have set a target price of 132.20.
Let me know what you think in the comments.
Have a nice trading day!
AUD/JPY 3-wave rally stalls at resistanceA 3-wave rally has stalled at the 200-day EMA with a bearish Pinbar. This begs the question as to whether we've seen the end of an ABC correction and the cross is to now break to new lows.
Perhaps. But over the near-term, yen strength is favoured due to sticky inflation data from Japan, rumours that the BOJ are considering tweaking their YCC band later this year and a slight risk-off tone due to concerns over tighter liquidity and the US debt ceiling.
- The bias remains bearish beneath 90.25
- Next target is around the lows near 89.00
Potential swing trade on NZD/JPYA soft inflation report from New Zealand weighed broadly on the Kiwi dollar yesterday, as traders began to price in the prospects of a 25bp hike (down form 50bp) or even a pause at the RBNZ's next meeting. The slight risk-off tone saw flows into the yen, and risk-currencies such as AUD and NZD were lower which has placed ZD/JPY on our shirt watchlist.
The cross has seen repeated failures to close above 83.50 over the past three weeks, and yesterday's high met resistance perfectly at the 200-day EMA. Given the bearish engulfing candle which has now formed, we suspect a leg lower seems more probably than a break higher. Also note the decisive close beneath trend support.
- The bias remains bearish beneath yesterday's high
- However, we'll seek bearish setups below/around 83.15 (50% retracement of yesterday's open-close range)
- Initial target is the cycle just above 82.0
GBPJPY May Keep Growing! Here is Why: 🇬🇧🇯🇵
GBPJPY is trading in a bullish trend on a daily, perfectly respecting the boundaries of a rising parallel channel.
For some time, the price was respecting a wide horizontal supply area within the channel.
It was finally broken this week.
I believe that it may trigger a bullish continuation on the pair.
Next goal for buyers will be 168.7
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AUDCHFHere we have a supply zone that the price has attempted to break, creating a spike which further validates my bearish scenario. The objective will be to wait for a retracement to a point of interest (POI) that I have highlighted.
Let me know what you think in the comments.
Have nice trading day!
USDJPYMy view anticipates a potential short on USD/JPY. I have identified a very strong supply zone where the price has attempted to break twice without success, creating spikes that I have highlighted with circles. An hour ago, the price created another supply within the strong resistance zone, and I will wait for a possible retracement to enter a short position.
Let me know what you think in the comments:
Have a nice trading day!
USD JPY - FUNDAMENTAL DRIVERSThe dollar is expected to fall and the yen rise in April.
Risk aversion prevailed in March on credit concerns about US regional banks and a major European bank, with the dollar/yen pair trading with a heavy topside to drop below 130 yen. Excessive concerns about the US financial system then eased on news that some regional banks would be bought out, so the dollar was bought again. However, the pair’s rally was quite muted compared to its rally towards 135 yen after the release of the US February consumer price index (CPI) data. With President Biden also saying the banking crisis was still not over, it seems this rally was merely due to a slight withdrawal of ‘excessive concerns,’ with investors still worried that tougher banking regulations might act as a new risk-off factor. Furthermore, though FRB chair Jerome Powell has said he envisages one more rate hike this year, the markets are split evenly when it comes to pricing in another hike, so it seems there are concerns about the negative impact of tightening on the financial environment. The Bank of Japan (BOJ) will also be meeting to set policy for the first time under its new structure at the end of April. Most observers believe the BOJ will stick to the status quo for now, but it is also possible the BOJ might announce a policy shift. The Japanese March CPI data is also set for release on April 21. If this points to stronger-than-expected inflationary pressures, a policy tweak/shift will become a more realistic possibility. Investors are starting to focus on FRB rate hikes, so if a BOJ policy shift does seem more likely, market participants will then focus on a future shrinkage of Japanese/US interest-rate differentials. Based on the above, it seems the dollar/yen pair will be susceptible to more downward pressure in April.
However, the US also released some firm economic indicators in March. Inflationary pressures also remain high, as evinced by a comment by a FRB official that “inflation is still too high.” US interest rates rose and the dollar was bought at the start of March on hawkish comments by FRB chair Jerome Powell. Controlling inflation remains the FRB’s number one priority. With Mr. Powell also commenting that “the ultimate level of interest rates is likely to be higher than previously anticipated,” some observers believe it is too early to start talking about rate cuts. With concerns about the financial system smoldering away, market participants will be focusing on comments by FRB officials ahead of the May FOMC meeting as they try to gauge the direction of monetary policy.
Gbpjpy update from the last post hello traders i have posted a weekly forcast on GJ BUT when the week opens we get more information this is what we see now here we have almost ascending triangle still left more confirmation to execute a
trade . but probably til tomorrow we might see volatility on this pair .make sure you are on session that's where the volume will be make sure to comment and follow to get more like this
Gbpjpy weekly forecast hello traders we are in a weekly zone so be carful trading it soon we might see reversal but i believe we have fvg left on the daily so probably we see last bullish push comment down below what you think and make sure to follow so you get weekly post like this wish you good week and good trading
USD/JPY set to extend Friday's rally?A divergent them is in play between the Fed and BOJ which could help it recover some more of last week's losses.
BOJ governor Ueda reiterated the central bank's ultra-dovish stance whilst US 1-year consumer inflation expectations spikes 0.8% pct point and the Fed's Waller delivered his latest hawkish remarks (inflation remains too high and we've not done enough to fight it).
A bullish engulfing candle formed on Friday, making a potential swing low around its YTD low and monthly S1 pivot point. The OBV (on balance volume) has broken to a new cycle high ahead of price action to suggest bulls have the upper hand.
- The bias is for a move to the 134.50 resistance zone, a break above which brings 135 into focus.
- If prices pull back, we'd look for evidence of a swing low between 133.20/50 around the weekly and monthly pivot points
- This could also incre4ase the potential reward to risk ratio
USDJPY: What to Look At This Week 🇺🇸🇯🇵
Since USDJPY reached an important structure low in March,
the market is correcting.
The pair is accumulating around a key horizontal resistance cluster.
Look for a bullish breakout of 134.06.
A daily candle close above that will confirm a violation.
A bullish continuation will be expected at least to 135.0 level then.
I will post an update after a breakout confirmation.
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USDJPY: Your Trading Plan For Next Week 🇺🇸🇯🇵
I see important bullish accumulation signs on USDJPY.
The price keeps setting multiple higher lows, perfectly respecting a solid horizontal resistance
and setting equal highs on that.
I will expect a breakout attempt of the underlined structure next week.
If the price breaks and closes above 134.06 level, it will confirm a violation.
A bullish continuation will be expected then at least to 135 level.
I will post an update once the breakout is confirmed.
Good luck next week.
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Weekly Momentum On Major Pairs (Week 16/2023)
First Thing First: This analysis is for “general overview only” as it is solely based on price action. That’s why it is called momentum analysis in the first place. Support/Resistant, Volume Macro view nor any other factors are not used during write up. Refer to the individual pair analysis for a more comprehensive write up.
XXX/USD: Mixed
Gold & Silver: Mixed
XXX/JPY: Very Bullish
Stock Indexes: Mixed
BitCoin: Very Bullish
WK 16 (15 Apr 2023)