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Yenpairs

NZDJPY Cup and Handle Daily ChartNZDJPY great market structure analysis. We have been in a downtrend with lower highs and lower lows. This trend began to exhaust at the support/flip zone of 67.00 where we made a double bottom, an exhaustion pattern. We stopped making lower highs and seem set to make our first higher low but it needs a higher high (break and close above the 69.80 zone to confirm this). We can also see this break would create a cup and handle like formation. Our target is the 72.30 zone. Conversely, there could be a 4 hour short set up. This would require a break and close below 69.00 to trigger a short.
by Uncharted-FX
NZDJPY and AUDJPY Reversals?Both the daily charts of AUDJPY and NZDJPY are showing signs of a reversal. With the NZDJPY, we had a double bottom at the 67.00 zone. It is a big support/flip zone. Yesterday we had a break and close above the 69.30 zone which is also a break above the previous swing (lower high). I like the structure here and as long as we hold the breakout zone, I can see price moving to the 72.00 zone. AUDJPY also interesting and has created a confirmed higher low with this higher high we got on yesterdays daily close. Would target the 76.00 zone if we hold this breakout zone. Finishing off with the Yen futures, let us see if we break this larger head and shoulders pattern. Would provide more confluence for our trade. Conversely, the yen futures on the 4 hour can be basing for a reversal.
Long
by Uncharted-FX
USDJPY Exhausting? Yen Futures Potential Bottom.USDJPY on the 2 hour chart showing a nice uptrend with defined higher lows and higher highs. We have reached a big flip/resistance zone here at the 109.00 zone. Take a look at this zone on the daily chart. After making higher lows and higher highs, we failed to make a new higher high and this can be seen as a sign that the trend is exhausting or losing steam. We are beginning to range here. There is a short term support/flip zone here at 108.55 that I am watching for a break and close below for an entry. 107.60 would be the target to the downside but do see how price reacts at the 108.15 zone. Take a look at the Yen Futures chart as well: We are at a support zone and showing signs of a range. Some may argue that on the daily it is a large head and shoulders pattern, but that would not trigger unless we get the break and close. Hence why we always are patient for breaks and closes. We do not chase price.
Short
by Uncharted-FX
An opportunity on Yen pairs, in particular CHFJPYMarket detective here, As I have been repeating, I am convinced the whole economy is in a complete pyramid scheme. All yen pairs are trending the same direction, chf might be a safe haven too but actually it is less influenced by scammy interventions so chfjpy might be the safest one to go for, and anyway it's not very important (the fundamental thing) it's just short term. Better go for the currencies that won't have stupid manipulations. Trend is down, and there is no support for a LONG while with CHFJPY making it my choice currency. Lmao lately I posgted my watchlist and it is not even in it, but when you have an idea you know, you look for the best way to express it, and I look alot at both currencies, so it isn't that crazy if once in a while I go for a pair I am not very used to. The theory is, idk if I am being clear / making sense, we have a swing failure pattern. CHFJPY has only be going up because USDJPY has. 0 logical reason. There were some good news about the trade war (zzz) and some big vertical candles. Those get traders very excited. Buyers were waiting for a new high to fomo in massively, but the price is not going up. Looks like all they did was provide liquidity to institutions (+ shorts SL above swing high). And now, potentially, all of these eager buyers are trapped, well will be IF it drops. * Institutions are not only taking short positions (if they even are), but also they need alot of suckers to sell to, to close their longs they opened as the pyramid scheme master (Trump) said "now price go up". Ye price pulled back, but I think there were still some bags to unload. Distribution time. I am not big on indicators, but geeeeeee come on, here the price has repeatedly hit on the MA 100 door, over, and over, and over again, and falling afterwards. Probably big odds of going down, not much reason to go up, AND if it goes down, there is no ground to catch the price until very far away (with chfjpy). Worth a shot.
Short
by MrRenev
1
TRYJPY Double Bottom FormingMaybe not the most popular trade idea given what is occurring with Turkey geopolitically, but a good set up nonetheless. Been in a downtrend with multiple waves, and we hit a support/flip zone which can be seen by going further back or on the daily chart. A double bottom indicates a possible exhaustion of the trend as no new lower lows have been made. I am looking here for a break and close above the 18.54 zone but perhaps 18.60 is better since we take out the previous lower high. 19.10 zone would be the target if we get the break.
Long
by Uncharted-FX
CADJPY bounce at Support/Flip zoneI like what I see here on CADJPY on the 2 hour chart. We hit a nice support/flip zone which can be seen by zooming out or going on the higher time frames. So far there is nothing to indicate a reversal, as we are still making lower highs and lower lows. However, what I am predicting here is a potential higher low which will be confirmed by a higher high break of a neckline of a potential head and shoulders pattern. This will be the 80.60 zone. First take profit will be the 81.20 zone. I still believe stocks will go higher (barring any geopolitical events) because there will be nowhere to go for yield. Wall street understands the game. Central Banks only mandate is to keep assets propped up. If they fall there will big problems not only with retirements, but with banks as well.
Long
by Uncharted-FX
1
GBPJPY double top/Head and Shoulders pattern.GBPJPY hit a big resistance/ flip zone and created a double top here. What this shows is that a higher low (confirmed by a higher high) could not be made so there was an exhaustion of the trend. We then broke below a support zone of 134.00 and the break and close was a strong red candle indicating strength. With this uptrend over, we would expect multiple waves of lower highs and lower lows (downtrend). Targeting 132.30 zone for my first take profit zone. Take a look at the Yen futures as well. It made a nice break as well and has a nice pattern:
Short
by Uncharted-FX
4
GBPJPY BEARISHAs we can see price struggled to break the bearish structure on the daily despite the bullish rally we have previously just had, i would like to see price now come down to at least 61% which for me i have marked this zone in green and the blue zone being 88%. Mondays are never really a day i look to enter markets but over the next coming weeks as we are also approaching brexit talks i would like to see the pound fall and in doing so mitigating candles below and filling imbalance.
Short
by LitCap-Vell
JPY Futures Index - Trend Change in Yen CrossesJPY Futures chart shows the Yen is currently oversold, broke below falling wedge, approaching strong trend-line and horizontal support. Watch for trend reversals across all JPY crosses. (Individual charts for Yen crosses show many pairs approaching Daily resistance zones) Yen crosses tend to produce decent trend trade opportunities. The large impulsive move in August, shown on the chart, is a perfect example (Sudden shift to Risk Off sentiment, as S&P saw a sharp selloff) . AUD NZD CAD and even GBP (Risk currencies) would provide good short opportunities in a similar situation. Higher time-frame charts show JPY trending higher, allowing us to trade with trend.
CME:6J1!Long
by cccpKGB1
ZARJPY bottoming patternLike what I see here on ZARJPY. On the daily chart, we can see we hit a major support zone. On the 4 hour, we have been in a downtrend with lower highs and lower lows. However, the downtrend seems to be exhausting. We are seeing a double bottom here and even possibly a head and shoulders if we reject the neckline depicted and make a higher low. I would await for a nice break and close above the 7.075 zone. USDZAR is quite interesting as well. Perhaps some Rand strength in the short term.
Long
by Uncharted-FX
USDJPY Head and Shoulders Pattern.Take a look at the USDJPY 4 hour chart. Nice downtrend with multiple waves, and we can see a potential head and shoulders pattern here. Not a textbook head and shoulders, but it shows a possible shift in trends from lower highs to now higher lows. Await for the break above the neckline/resistance/flip zone at the 106.70 zone. Patience. We want a nice and strong break here. Take a look at the yen futures as well. Some confluence if we get that break here.
Long
by Uncharted-FX
NZDJPY and AUDJPY Interesting Bottoming play.The Yen pairs will also benefit from my theory on equities going higher on hopes and promises of more stimulus coming to keep stocks propped up. Both charts are similar and are at very important support levels and are showing signs of trend exhaustion. We are not making anymore lower highs and lower lows. You can say we are perhaps going to make a head and shoulders pattern albeit not a beautiful textbook type. Again, all they show us is a transition of trends. Watching for a break above 69.00 for NZDJPY and 72.55 for AUDJPY. Other Yen pairs also look interesting as well, but I think these two charts look much better although GBPJPY can also be apart of this group.
Long
by Uncharted-FX