MJY1! trade ideas
6J JPY USD Bullish SharkAfter news release for US Dollar, 6J Futures JPY USD seems to be developing a more clear market structure and completing a bullish Shark formation. When price reaches the marked zone it would be wise to look at price action behavior around the area to see if price provides us with a valid entry for long opportunities.
6J JPYUSD In Consolidation This pair is currently in a neutral position as it is trapped in a consolidation zone. Since this correlates with USDJPY the same scenario should be taking place on that pair as well. It is wise to wait for a break of structure and formation of proper market structure before any trade could be placed.
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
JPY Futures Supply And Demand Analysis- Price Inside Weekly Drop Base Rally Demand Zone.
- Waiting for 4hr TF buyers to take control while price
is inside the weekly demand. Keeping eye on JPY pairs.
- Trend = Down so any longs will be counter-trend.
See the Picture above more information.
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!
(6J) Yen - My Only Long
Everything covered going into NFP.
If there is obvious trend after 10:30 am EST - maybe I'll join.
The only trade on is the USD YEN (6J) which due for a move its been very quiet.
Like it up at the POC with the target - which is .38 Retrace as well - all about the confluence.
Three POCs above it and one below.
4 Hour Chart
Yen is expecting to see a big resistance at level 0.008989Yen is expecting to see a big resistance at level 0.008989
Simple Strategy follow the COT commercials COT index indicator shows the positions of the commercial traders.
My strategy is to follow changes on that index (high reading = bullish, low reading = bearish)
Its not an entry indicator but a setup indicator, so make sure to enter on traditional signals like double tops or trendline breaks...
I keep an updated list of the major futures instruments with LONG,SHORT,NEUTRAL readings:
www.tradingview.com
Yen Futures - 6J - Critical Support!Last time at this level, clearly demand over powered supply. Will we see that again?
Well Im still long :)
Short Yen to VPOC
They pulled the Yen up on divergence yanking all the shorts - ticking the VPOC and now time to the same the other direction.
Japan - YEN BullishYEN will be strong in this currency battle.
These people have true heart. As most in the world, but here there is less judgement.
Leave the judgement to Yahj
Japanese Yen futures short call verticalPure TA.
Oversold territory, so take care of the trendline.
Max profit: $213
Probability of Profit: 72%
Profit Target relative to my Buying Power: 20%
Max loss with my risk management: ~$250
Req. Buy Power: $1038 (max loss without management at expiry, no way to let this happen!)
Tasty IVR: 34 (average at futures)
Expiry: 36 days
Sell 2 !6JM1 Jun4' 0.0093 Call
Buy 2 !6JM1 Jun4' 0.00935 Call
Credit Call spread for 0.90cr each
Stop/my risk management : Closing immediately if daily candle is closing BELOW the box, max loss in my calculations in this case could be 250$. Probability of loss in this way: ~20% .
Take profit strategy: 50% of max.profit in this case with auto sell order at 0.45db. Probability of profit this way: ~80%.
Of course I'll not wait until expiry in any case!
If you liked this article, check my other ideas.
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JAPANESE YEN FURTURES : PRICE IS FALLING DOW ! ! ! !🔔Welcome back Traders, Investors, and Community!
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Asia-Pac JPY diverging the S&P In a bearish wave of the first quarter of 2021, JPY moves lower as it diverges the S&P Micro E-Mini Futures.
Long Yen Futures - Key supportA daily key resistance is formed when price break prior higher low and form fresh highs.
We seek to buy at these area for 1:1 reward and seek minor profits along the way.
6J1! forecast 🌧This thing just keeps sinking, waiting for a bullish sign before opening any call positions. Lord help us all.
JAPANESE YEN FUTURES (CONTINUOUS)A strong candle breached the vwap indicator down
The volume of sellers in the market has increased to make sure that I am on the right track
TP: 0.0094585
6J1!Hello everyone,
As you can see from the graphic the JAPANESE YEN FUTURES varies between these 2 peaks, now it is the start of another increase, buy 6J1!
