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MarketBreakdown | EURUSD, USDJPY, Dollar Index, USDCHF Here are the updates & outlook for multiple instruments in my watchlist. 1️⃣ EURUSD daily time frame 🇪🇺🇺🇸 The pair broke and closed below an important rising trend line, it makes me think that the market may go lower before the FOMC. 2️⃣ USDJPY daily time frame 🇺🇸🇯🇵 The market reached a key horizontal structure resistance. Taking into consideration the fact that the market is quite overbought, we might see a pullback from that structure. Alternatively, its bullish breakout may initiate a strong bullish wave. 3️⃣ Dollar Index (DXY) daily time frame 💲 The Index formed a cup and handle pattern and currently testing the neckline. A bullish breakout of that and a daily candle close above will confirm a bullish reversal. 4️⃣ USDCHF daily time frame 🇺🇸🇨🇭 The pair broke a solid falling trend line and heading towards a key horizontal resistance, forming a huge double bottom on a daily. A bullish breakout of its neckline will initiate a bullish reversal. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
7
USD JPY - FUNDAMENTAL DRIVERSJapanese yen strength over time. While the yen underperformed during the global monetary tightening phase, in our view, the currency has scope to outperform later this year. We now believe the BoJ will take advantage of a tactical opportunity to further tweak its policy settings in Q4-2023 to further normalize the government bond market. Such a policy move adds to our constructive medium-term outlook for the yen. Yen outperformance over time should also be supported by the end of central bank tightening and a transition toward easing, as well as a U.S. recession in the second half of 2023.
Short
by thunderpips
3
Looking to buy USDJPYOur trade relies on fundamental analysis, and technical analysis only serves as our entry point. Currently, the US is undergoing a process of quantitative tightening. The upcoming FOMC meeting is expected to result in a 25 basis point rate increase. A rate increase of 50 basis points or continued rate hikes would be seen as a hawkish signal. Meanwhile, Japan is maintaining its monetary easing policy, and the new BOJ governor, Ueda, announced in a recent speech that they plan to slowly continue their yield curve control to support a healthy economy. This has led us to take a long-term dovish stance on the JPY. Shifting our focus to the technical analysis, We are currently awaiting a retracement to the 61% Fibonacci level. However, we should remain vigilant as there is a possibility that the price may reject the 134.78 level. We are also waiting to retest the trend line and the demand zone.
Long
by keechi
🔥 REVENGE TRADE: CHFJPY ✨ SHORT TERM LONG 🔥TP @ 155.00 BLO @ 151.53 ADDITIONAL INFO: 00:00 Revenge Trading 01:12 Buy Order (aggressive) 02:04 Small Loss for a Big Win 02:48 I hate CHFJPY!!! Unfortunately, our previous short position was liquidated because I based my analysis on the Oanda, which had limited historical data for this pair. As a result of examining the FXCM chart, I've determined that there is more upside potential, so here is my revised assessment.
Long
by ProfessorCEWard
🔥 NEW: CHFJPY ✨ BIG PICTURE SHORT 🔥-SL @ 158.45 🚫 SLO2 @ 157.33 ⏳ SLO1 @ 155.25 ⏳ TP1 @ 151.25 (shaving 25%) TP2 @ 148.50 (shaving 25%) TP3 @ 145.33 (shaving 25%) TP4 @ 143.00 (shaving 25%) TP5 @ 138.50 (closing ALL Sell Orders) BLO @ 137.90 (15H) ⏳👈🏾 ADDITIONAL INFO: Unfortunately, our previous short position was "stopped out" because I based my analysis on my Oanda chart, which had limited historical data for this pair (not sure why). As a result of examining an FXCM chart (not my broker), I've determined that there is more upside potential, so here is my revised assessment.
Short
by ProfessorCEWard
9
USD JPY - FUNDAMENTAL DRIVERSThe dollar is expected to fall and the yen rise. 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. 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.
Short
by thunderpips
EURJPY 💶/💴The Daily candle just closed at 147.58. This price was our previous Daily Level. Price is still technically in a range between this price and 146.71. After spiking up to previous Monthly High at 148.4, we rejected those extreme prices and came flying back down into the current range right now. Price may continue bearish from here and we can call it a Fakeout as price failed to stay above 147.58 Daily level initially. Returned back into the range, tocuhed bottom of range, now price is coming back up for a last retest before returning back to the bottom of the range at 146.71.
Short
by ShrewdCatfx
Joe G2H Trade: Selling EURJPY againTrade Idea: Selling EURJPY Reasoning: Major resistance on the daily chart, swing failure? Entry Level: 147.616 Take Profit Level: 146.28 Stop Loss: 148.04 Risk/Reward: 3.08/1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
1
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 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre