JPYX Vs XAUJPYX and XAU correlation, we can see a move down in JPYX should price XAU in around that area of balance, around the $1700 mark charts to follow.
JPYX trade ideas
JPYXWe could see a sell off in JPY here, we can look to the yen crosses to deliver some profits if we see a downmove in JPY here we can look to buy against the Yen.
Could JPY stage a massive recovery?We saw JPY index triple bottom at 808 after a massive sustained drop, with the RSI also showing bullish divergence.
Triple bottoms are usually big reversal patterns after a big drop.
Buyers stepped in and price went up to 829 and in the process, formed a falling wedge which is also a reversal pattern adding confluence to the triple bottom.
Buyers continued to push price up and JPY broke out of the triple bottom neckline to go all the way up to 855.
Price has since pulled back in a falling wedge to retest the triple bottom neckline (prior resistance now support), which is also 61.8% fib of the initial leg up. We also saw price react here towards last week's close.
Could we see the matrix of confluence of the triple bottom, falling wedge and fib support play out and JPY continue to go up to 870 which is also the 127 fib extension as well as completion region of the ABCD pattern. One for the radar.
KG
JPY index long view, maybeLast week was very bullish for the JPY currency. Before that, it was consolidating and moving sideways for six weeks. This week is unpredictable, a little up and a little down. It would be good if the representatives of the Japanese government and the BOJ came to an agreement on where they want the yen to be because we cannot trade in this way. 😂
JPY INDEX BREAKDOWNThe market has completed the impulse wave (12345 waves) at 809.00 price level. A correction wave comes next which carries 3 waves (ABC waves). From now, we will expect price to continue upward in a corrective manner up onto 885.00 price level probably respecting 61.8% fibs level before we can see some reversals to continue it overall bearish trending market. As price reaches 885.00 level, we will like to see some rejections and reversals to tell us that price will make a turn. Let's see how the market plays out in the future time to come
STAY BLESSED...
JPY X JPYXXX BUY ,, XXX JPY SELL Yen will be in control for the month of July and august , Buy Yen Vs all ...
JPYXJPYX is in a strong downtrend, you can see I have used the rvi indicator and noticed huge levels of divergence, this is a different reading on the indicator to what price is doing, so an example in this chart is the lower high in price and the higher high on the indicator, these are subtle signs that there is disturbance inbound, these divergences can often lead to good profits, so check it for yourself. The price action looks great currently with the MA8 trending under the MA89 signalling a downtrend, price has returned to the MA89 and given us divergences and sell signals on the indicator, so now our check list for entry is growing, we then take a look as oil price and notice the strong rallies in recent days, if oil continues to climb the JPY will likely lose more value, Personally I think the Japanese are waiting for US rate hikes to brind down the demand for the oil, in doing so this could see JPY make a strong bounce back. However in current conditions the JPY looks weak, so I believe to look for buys in yen crosses, and look for more long opportunities in oil if they present themselves.
YEN should find support between 50 and 62 retrace YEN should find support between 50 and 62 retrace for bullish outlook in the shortterm
JPY index 1H TF bullish trendHere we see how the JPY index recovers. The bottom was found at the 809.00 level, and then the bullish trend began. The first Fibonacci is set on the chart, and we see that the pullback ends at the 61.8% level and how a new bullish momentum begins. Next is the formation of a new higher high and the setting of a new Fibonacci on the chart, and we see that the new pullback ended just above 61.8% of the level. A retest to the support zone has also been made, and we are continuing with a new bullish impulse. The JPY index forms a new higher high, and we are putting a new Fibonacci on the chart. The pullback is stopped once again in the zone above the 61.8% level, and another bullish impulse begins. We get a lower support line by merging all three previous higher lows. For a more concrete bullish trend, we need the formation of a new higher high above the 832.6 level. Otherwise, a break below the support line leads us to a bearish scenario.
JPY CURRENCY INDEXJPY is going to be strong in the coming days.. So you can look for sells on pairs such as AUD/JPY, CADJPY, NZD/JPY ETC. Price has created two touches at the top giving us a potential valid structure, So the market has a high potential of reaching the third touch.
japanese indexwill go up soon, check in 2 days time.
this is about the japanese currency in a single chart. the japanese are working on reviving their currency.
The Buyers Are Ready To Get In we can see at the chart an important trendline thats has been broken , and the price did a false breakout on his second touch , and we saw a double doji with higher low which presente a great signal for buyers , so we can expect that the price will rise at least to the resistance box.
JPYx (Japanese Currency Index)This is a simple breakdown of the JPYx (Japanese Currency Index)
This is a major signal i use to know the strength of JPYs' before I enter a trade setup on JPY pairs.
JPYx Japanese Currtency IndexThis is a simple breakdown of the JPYx (Japanese Currtency Index)
This is a major signal i use to know the strength of JPYs' before I enter a trade setup on JPY pairs.
JPY index In the coming weeks i expect a strong bullish activities to happen on JPY index as this asset is at it threshold of supply hence the Federal Bank will be cutting down supply for in imports and other economic determinants . As demand for the yen increase more position would be accumulated to buy more of the yen in the coming days hence market will see a rush off buy on the JPY.
GBP/JPY Outlook (21 February 2022)Overall, GBP/JPY is ranging across. Recently, GBP/JPY traded into the support zone of 156.000.
The UK flash PMI data will be released later at 1730 (GMT+8).
Flash Manufacturing PMI (Forecast: TBA, Previous: 57.3 revised from 56.9)
Flash Services PMI (Forecast: TBA, Previous: 54.1 revised from 53.3)
Currently, GBP/JPY is testing the support zone of 156.000 and the next resistance zone is at 158.000.
Look for short-term selling opportunities of GBP/JPY if it breaks the support zone of 156.000.
