JPYX trade ideas
Yen index long viewThe yen index is at a key point testing the EMA 50 daily moving average. If we manage to get his support, the yen could start a longer-term recovery.
JPY INDEX ??Im looking for reversal of Yen. But i need more confirmation. As at now, Im looking to this structure. Trade carefully.
JPY index on bearish Wait for pull back on jpy index then BUY any JPY pairs ..
Don't be left out on this ..the trend line indicates what JPY pairs will do
Good luck
JPY index buy ideaJPY yen is subjected to flex muscle for bullish for the last time before selling off.
We expect yen to go bullish from this point.. let wait for BULLISH confirmation candle on daily time frame like engulfing or hammer candle.
JPY Index next week outlookThe Japanese currency continuesly doping down From march of 2020. Now in 4H timeframe already Rebound from 704.1 level. But still not tread breakout confirmation.
Within next week I expect all JPY pairs will fall down to retest the above support area. However still have FVG Between 718 - 120 levels.
JPY index short viewSince the beginning of the year, the Japanese index in a bearish trend. The main resistance and trend indicators are the EMA 50-daily (white line) and the EMA 20-daily (purple line). The interest rate hike by the Bank of Japan did not bear fruit in strengthening the Japanese yen. The picture is still very bearish and we can expect a further pullback to the April low at 704.0.
YEN come back strongerI see a possibility that Yen will come back stronger this year. So i guess XXXJPY will drop signicantly . Just my point of view.
JPY index bullish move preparationJPY index pair is preparing for short bullish move before long fall bearish again...
Almost set to go BULLISH
JPYXThe JPYBasket (“Yen Index”) is a Japanese Yen benchmark and is designed to reflect the change in value of the JPY against a basket of major world currencies.
Yen reached daily supply zone. Price testing this daily orderblock a.k.a. daily supply zone. I would like to see price reject this for more downtrend
JPY news.
GDP q/q
Actual 0.1 Forecast 0.3
Actual weaker then forecast = JPY weak.
Yen reversal. Market shifts to bearish gearsPEPPERSTONE:JPYX Yen technical bullish pullback did a 50% retracement, at the same time price is at the weekly order block/supply zone.
Im expecting a continuation of the YEN bearish trend from here.
OANDA:GBPJPY this adds more confluence to my long position at GY
Japanese Yen index forecastThis is my anticipation of what the JPYX might do in coming days and how we can successfully trade yen pairs
JPYX WILL REVERSE ON THE DEMAND ZONEJPYX has returned to the earlier demand zone highlighted across both hourly and daily timeframes. Additionally, we've observed the fulfillment of a five-wave count within the current bearish trend, suggesting the potential for a reversal at this established demand zone.
jpyx shortThe Japanese yen continues to decline after the Japanese Bank's statements not to take any measures to revive their currency, and in light of the rise of the dollar, it gives more weakness to the yen.
JPY 1D Outlook for next week JPY 1D Outlook for next week
Currently JPY running with Descending channel and still on path correctly. Already broke the 4H Support level 754.4 and continues bear market.
Analyze recommend to open buy order with All JPY pairs according to strong side. ( USDJPY Didn't recommend till CPI )
Key levels D1
Pressure level located | 767.3 | 774.6
Support level located | 748.2 | 744.6
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📈JPYX D1 chart shows that it had a Displacement and ChoCh in the first week of December last year, which means it was overbought and due for a correction. And guess what? Last week, it bounced off the support level at 753 and formed another ICT Long setup around 750, where there was a FVG in November last year. This is a clear sign of weakness and exhaustion. 😵
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JPY: Tokyo driftThe sharp falls in Tokyo inflation for January remind investors of the ending of the
BoJ’s YCC and/or NIRP in 2024 are not set in stone. Tokyo inflation is a very good
leading indicator for the nationwide inflation data. Tokyo inflation excluding fresh
food as well as headline inflation plunged below the BoJ’s 2% target to 1.6% YoY;
well below the consensus forecasts. January is the first time Tokyo inflation
excluding fresh food is below the 2% target in a bit over 18 months. Tokyo inflation
excluding fresh food and energy dropped to 3.1% YoY; also well below the
consensus forecast. The Tokyo inflation data will challenge the increased
confidence expressed by BoJ Governor Kazuo Ueda in his post-meeting press
conference that the central bank will meet its inflation goal. This confidence helped
the JPY stage a modest rally this week as JGB yields moved higher in anticipation
of the formal ending of YCC as well as NIRP in the coming months. The Minutes
to the BoJ’s December meeting continue to feed this speculation as Board
members shared the view that deepening discussion on the timing and pace to
raise rates was required.
Another factor that can give ground to the Yen is the BOJ intervention in the Forex market which had already happened a couple of times in 2023. They are closely tracking the USDJPY rate and tend to intervene around the 150.00 level which is about to be tested soon. For now, BOJ prefers FX interventions as they are effective so far and not damaging the already deflating economy as real interest rate increases would do. The Japanese Governor Ueda is also using his words wisely as we can see, only speaking about potential interest rate hikes affects the currency as if they increased them already although getting out of the ultra-loose policy is highly unlikely in 2024.
Check out my other ideas below:
JPYX Japan Currency Index IdeaThe JPYX has reached a significant support level on the daily chart. I foresee a potential retracement, considering its entry into past daily lows and the current price swing being excessively extended. A JXY retracement towards the 61.8 Fibonacci level may present trading opportunities. It is important to note that the information presented here is intended solely for educational purposes and should not be interpreted as financial advice.
JPY Next Week ExpectAccording 4H JPY start going to sell
with 789 - 785 levels.
Support level 748.0 and pay more attention
when running with 762 - 776
