JXY trade ideas
Japanese yen index, supply zone revisit?Reversal pattern forming, shooting star, bearish candle, price revisited earlier
Potential downside and JPY devaluation to demand zone
Bearish AB=CD spotted on JXYthe index is on long-term uptrend but a bearish correction is expected for couple of weeks with abcd pattern , overbought on stochastic , and reaching 1.27 on fibo levels , the bearish move wil continue till the 0.681 fibo of the uptrend ( japenese yen pairs are mostly for sell in these couple of weeks especially against usd )
JPY indexFollow the currency index is very important for our decision
Ichimoku show the chance to going up
Follow me for more update Guys!
- Ichimoku Kinko Hyo -
$JXYThe Japanese Yen Index broke out of a bearish pennant pattern, - to the upside.
The 61.8% does look like a sell area, only IF $JPX act accordingly.
My max lock profit target for this move is at the 50% fib retracement.
One pip lower than the support of the actual Triangle puts me at a complete bearish sentiment. I’d be concervative enough to stay out of a bullish sentiment even if its falls below the dip of wave 5 within the pattern.
Stay alert!
Bullish YenThe Yen closed the week with a price higher than the previous structure close, to the left. The bullish wave is staying on top of the BB 20 indicating a short-medium term bullish run, possibly to reach the highest previous high. I expect a short period short, but then I definitely see strength picking back up to finish this job. Cheers to the Bulls!
JPY index: where are we now within the wave analysis context?Price on a weekly chart is right in the middle of a potentially complex corrective structure.
I tried to outline two alternative scenarios, but with similar result: price must test the last low of the structure before we get a strong upside movement.
Bear this in mind when taking short-mid-term trades with every instrument with JPY
Good luck!
Yen group - Long-term wave analysis - 01Yen group - Long-term wave analysis.
JXY - Japanese Yen Currency Index weekly chart
JXY BULLISH RELATED TO CRYPTO GOLD STOCKS AND ECONOMIC OUTLOOK
The Japanese Yen is looking to break out of my wedge. People are looking to hedge their money in the yen, meaning bullish gold and bitcoin. We shall also be seeing a recession soon in the US.
JXY Downtrend"The U.S. stands out for its positive returns. Ten-year Treasury rates were at 2.16% on May 31, vs. -0.09% for Japan and -0.20% for German equivalents. The dollar has been taking away the mantle of safe haven thanks to interest-rate differentials.
The flows into yen as a safe haven remains, but for us to see it go down to, say, 105, you’ll need to see a major geopolitical shock happen."
Quoted from Jane Foley, head of currency strategy at Rabobank International in London.
