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6J1! trade ideas

JAPANESE YEN FUTURES (6J1!), H4 Potential for Bearish MomentumType : Bearish Momentum Resistance : 0.0074895 Pivot: 0.0074195 Support : 0.0073570 Preferred Case: On the H4, with price moving below the ichimoku cloud and along a descending trendline, we have a bearish bias that price will rise and drop from the pivot at 0.0074195 in line with the pullback resistance to the 1st support at 0.0073570 in line with the 100% fibonacci projection and horizontal swing low support. Alternative scenario: Alternatively, price may break the pivot structure and rise to the 1st resistance at 0.0074895 where the swing high resistance, 50% fibonacci retracement and 61.8% fibonacci projection are. Fundamentals: Yen weakness could continue, evident with the USDJPY rebounding from support to trade above 135 overnight, giving us a weak bearish bias towards yen.
CME:6J1!Short
by Genesiv
JAPANESE YEN FUTURES (6J1!), H1 Potential for Bullish RiseType : Bullish Rise Resistance : 0.0076510 Pivot: 0.0074900 Support : 0.0073605 Preferred Case: On the H1, price is moving above the ichimoku cloud which supports our bullish bias that price will rise to the pivot at 0.0074900 where the swing high resistance, 50% fibonacci retracement and 61.8% fibonacci projection are. Once we have upside confirmation, we would expect bullish momentum to carry price to 1st resistance at 0.0076510 in line with swing high resistance and 100% fibonacci projection . Alternative scenario: Alternatively, price drop to the 1st support at 0.0073605 in line with the swing low support. Fundamentals: Despite key figures commenting about how a weaker Yen is deterimental to the Japanese economy, the BoJ’s policy path is still divergent to other central banks, giving us a bearish bias for the Japanese Yen.
CME:6J1!Long
by Genesiv
The Yen is in for a world of hurtIf you see here the Yen futures history from the perspective of the monthly chart, you can see a pretty clear cut H&S pattern, with a downside target of a 40% to the downside. Basically, the jig is up for the Bank of Japan, their scheme is gonna fall apart. I think they hold like a trillion US dollars worth of US equities too so you can imagine them dumping all that shit to try to hold up their currency as it death spirals. I don't know anything, but I know that I'm short yen.
CME:6J1!Short
by skreep
JAPANESE YEN FUTURES (6J1!), H1 Potential for Bullish RiseType : Bullish Rise Resistance : 0.0075575 Pivot: 0.0074695 Support : 0.0074205 Preferred Case: On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from our pivot at 0.0074695 in line with the overlap support and 61.8% fibonacci retracement to 1st resistance at 0.0075575 in line with the 127.2% fibonacci extension and swing high resistance. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 0.0074205 where the swing low support, -61.8% fibonacci expansion and 100% fibonacci projection are. Fundamentals: As the Bank of Japan adjusted the auction schedule and amounts, conducting additional outright purchases of JGBs and increasing the amount of purchases, paired with an aggressive 75bps rate increase from the FOMC. Anticipation is for the Japanese Yen to find its footing against the USD and test higher. This gives us a bullish view for the japanese yen.
CME:6J1!Long
by Genesiv
6J1! SHORT IDEAOn further analysis of the Yen Futures, we observe a market structure break for the first time. Any time this happens we anticipate net long traders at that price being triggered long while the smart money is short on their orders. Any net long trader at this level has to be liquidated. Logically any net trader long(dumb money) will have their stops below the Previous Daily Low. This results in price being delivered lower to liquidate any active trader on the wrong side of the market. The result causes weakness in Yen and inverse strength in other pairs such as GBP on GBPJPY.
CME:6J1!Short
by Quantum_Labs
YEN FUTURES (67!), H4 Potential for Bullish Bounce!Type : Bullish bounce Resistance : 0.008741 Pivot: 0.00868 Support : 0.008658 Preferred case: Prices are consolidating horizontally and are close to our Pivot. We see the potential for further upside from our Pivot at 0.00868 in line 61.8% Fibonacci retracement towards our 1st resistance at 0.008741 in line with 61.8% Fibonacci Extension, 127.2% Fibonacci extension and 127.2% Fibonacci expansion. Our bullish bias is further supported by RSI being on bullish momentum. Alternative scenario: If prices were reverse, they can potentially dip towards our 1st support at 0.008658 which is a graphical swing low and also in line with 78.6% Fibonacci retracement. Fundamentals: The Japanese yen is expected to continue to ride its safe-haven status, with bias for additional gains despite its relatively long standing ultra-accommodative monetary policy put in place to aid the recovery of the country’s economy from the devastating impacts from the Delta variant of COVID-19. With commodities being at all time high, we expect investors to be on a look out for buying opportunities on this safe-haven currency with its relative stability.
CME:6J1!Long
by Rockqet
Japanese Yen 6J - USDJPY Long Term - Monthly This is a very interesting chart. Normally I don't look at monthly charts - but this one is special. Lots of lines on the chart - but take a moment and I'll go through it with you. Firstly I realize that most people trade currencies do so with CFDs - which is fine but the banks/funds that push the market around look at Futures Market. The red dotted line is a broken trendline ( I will add these trendlines are drawn by an algo - its what the algos see and interact with - if interested DM and tell you how to get them. Back in July we were positively divergent on RSI as (green dotted line) we were at the bottom of a known support level and the market was trying to go up. (Blue arrow points to positive divergence on RSI.) This was broken - with everybody long they jammed it down. Ouch - Its what they do. This created a new triangle - much larger, but currently untested - bottom blue dotted line. In the middle of that is an orange angle bisector (part of the algo) - and its exactly where prices stopped - exactly creating a 2.0 Fib Retracement. Sounds like something a computer program would do right? This reaction is an acknowledgement that we are now working with these larger trendlines -this means that eventually the Yen will be going down a lot more. However this could be months or even years away. This happened this week. Could we put in a double bottom? maybe but I wouldn't count on it. So now what? Well we hit a Naked Point of Control from last week today. We have back backed off a little - there are numerous untouched Naked Points of Control above and maybe we'll return to them - of course its hard to know. The median price for the year and Naked Point of Control (confluence) is at 0.08970 - I would think we make it back to that - and really a rejection there would make sense. Good luck GLOBALPRIME:USDJPY
CME:6J1!Long
by Maximilianned
JPY USD - 6J - Is the Bottom in? Woke up this morning to see that the Yen had sold off to multi year lows. While the I've read there is a 'risk off' mentality - then that should make the Yen a safe haven. So what else? Well the US Dollar is strong - right now its very divergent. We may have seen the high of the week for the DXY. This has had an impact on the Yen vs the US Dollar. This is the greatest number of Naked Points Control I've seen the Yen with - you can count them. These are the upside targets. Speaking of Point of Control - todays point of control looks to be left behind as a marker for the future return. As they closed above it - and done after hours of the NY Session. This is a 'tell' that they plan to move up from here - this should not be lost on anyone, its important. Frankly I wasn't expecting this move down - but not entirely surprised. Right now I can't think of a better trade in the Futures market. Target for me - not being greedy .0089755 - target number 2. From there I'll look at it and decide the momentum will carry us higher. We were there October 6th. Caveat here is if they take out todays Point of Control - the move down may continue or least least spend another couple of days down here accumulating. CME:6J1!
CME:6J1!Long
by Maximilianned