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USDJPY - Retracement After Bull on BOJUSDJPY gained over 130 pips after BOJ signaled to continue easing. The bullish wave has completed a significant wave of retracement after reaching 112. It is highly probable that USDJPY will continue another wave of appreciation fundamentally where the Fed continues its effort to raise rate and BOJ continued to ease monetary policy. The technical rebound and supported by a H4 rising trendline also proved that the price has more bullish potential.
Long
by AlgoVenture
BOJ Continues Easing, Yen May Weaken FurtherAs BOJ kept its monetary policy unchanged, the yen is set to weaken further. The price has been holding steadily at 111 and supported by a daily rising trendline just before the release of BOJ monetary policy statement. As the news is released, USDJPY came down at first, but quickly recovered its losses climbed to 111.43. A head and shoulder formation was discovered at the same time, giving more technical support for further appreciation, should the price manages to close above the neckline and subsequently above 111.5.
Long
by AlgoVenture
The Eve of RiskOur Second Idea on Tradingview => Here we are smelling risk off in the coming sessions. =>From a technical perspective we are eyeballing a move back towards the 61.8% from the bottom of the channel we have been trading since April. =>Expecting investors to raise the bid on risk off assets as we have the triple CB combo this week with BOJ, FED and BOE in play. =>We are choosing Gold as the perfect asset class to trade this as we expect some mild profit taking from Dollarbulls =>Gold long @1227| TP1 1260 | TP2 1305 | STP LOSS 1208 =>In the background we also have EZ and US inflation numbers mid week, both expected inline providing further pull factors to Gold =>Good Luck all
FOREXCOM:XAUUSDLong
by ridethepig
USDJPY- yen broke a key level - Now testing a 4 Month Trendline. - 4 Month Trendline has been tested twice in the past and bounced off, maybe bounce number 3? - I will be happy to allocate long/short, off these levels. Somethings of note: -the BOJ uses JGB's Targeting in its monetary policy. My theory is that when you see out-sized moves in JGB's, its indicative of a change in monetary stance. Hence what affects currency affects bonds and vice versa. - I also find the relationship of DXY and USDJPY interesting. This has been occurring since March. One would normally associate USDJPY weakness as you see DXY Strength.
by cgd
USDJPY: Potential CD leg to 91 handleHow long can the BoJ maintain its zero yield curve targeting with the growing divergence between US rates, strong GDP numbers and Abe's strong arming of Japanese corporates to raise wages? Looking for the USDJPY to test 100 congestion zone in the medium term followed by the 91 handle over the longer term. Extrapolate the strength of the USDJPY to the DXY and consider the inflationary impact on US imports (notwithstanding Trump's trade wars) and of course equities. Note, this is not going to be one a straight line move to 91, so trade accordingly.
Short
by WellTrainedMonkey
Trump approval rating puts brakes on the tax billThe IMF urged Japan central bank to adhere to the current program of quantitative easing in the fight against stagnating consumer prices, the position voiced by the Central Bank official at the last meeting on monetary policy. Comments of the IMF Chairman Kristin Lagarde lay in opposition to the extensive criticism of the Bank of Japan, which does not want to reduce excessive stimulation, thus encouraging overbought stock market. Shares of Japanese companies are at the 26-year peak, and according to many, are hard to describe by the fundamentals. In turn, the growing rates margin amid ECB and Federal Reserves’ tightening will further promote capital outflows from the Japanese economy only by encouraging the investment activity of Japanese investors abroad. USDJPY fell on Wednesday, primarily due to worsening sentiment in the US currency. The US dollar dipped against its main opponents on Wednesday, trading in a limited range, as the direction will be set with details of the fiscal stimulation of the US economy, in particular tax reform. The weighted average dollar index rose to a maximum of 3.5 months in the last few weeks on expectations that large-scale tax breaks will lead to the need to raise the interest rate faster in order to protect the economy from overheating. The market has priced in the approval of budget reconciliation, which greatly facilitates the implementation of the reform, but despite significant progress, it remains sensitive to every detail about the discussion of reform in the Senate. Washington Post reported on Tuesday, referring to the unidentified sources in the government, that firms can receive tax benefits with a one-year delay to comply with the Senate rule. While the dollar only gives signs of anxiety, the sentiments for further rebound remain steady. Opposition to tax reform, perhaps one of Trump's major future achievements, can also grow because of the fall of the president's ratings. The WSJ poll showed that discontent is growing even among the core Trump electorate, so the reform itself may also be unpopular among the population, which gives another argument to Congress to block the bill. Arthur Idiatulin
Long
by Tickmill
1
USDJPY_Struggling at major daily ressistance_4 hour tf_110.000?Hello traders, I'm noticing USD/JPY 0.10% is testing a major overhead resistance level dating back to May 2017 for the third time. Each time this level is respected price proceeds to make quick moves to 110.000 (check out daily chart .) This stance contradicts my current understanding of market direction. My expectation is XXX/USD pairs falling with the EUR/USD 0.00% head and shoulders pattern that sprung last Thursday. That would mean USD/XXX pairs are expected to move higher, which is why I'm cautious of testing this level a third time. That being said, the possibility exists that DXY 0.05% could pullback to test the lower shoulder before moving lower. In the event that DXY 0.05% falls, opposite of my bias, I will trade USD/JPY 0.10% in strategy of having the best odds counter trend trading DXY 0.05% and EURUSD 0.00% head and shoulders pattern (see attached trade.) I'll need to see lower lows hold below 113.200 before I enter. Big news in the coming week with JPY Bank of Japans monetary statement expected some point Monday and USD Federal Reserves Janet Yellen Wednesday at 2:00 PM. I'll post any entries. Good Luck and patience! Tanner Elphee – Self-made Technical Analyst. Certification not held but desired after college. 5-year market enthusiast with experience in Forex, Futures , Stock, Options, Cryptocurrencies and Nadex. Also, a full-time college student majoring finance working full time with a small dealership in western VA . I work diligently pursuing my dream of professional trading. Trading View is my trading journal. I’m posting a series of live trades and documenting them in real time. Share your opinion, but remember it is only an opinion. Very eager to learn! Find TElphee on LinkedIn/Twitter/Trading View Disclaimer: This information is my own opinion and should not be considered investment advice. Please consult a professional before trading.
Short
by UnknownUnicorn981629
ETHUSD: Bird's eye view, don't miss the forest for the treesI'm holding long positions in $ETH, and aiming to add once we get further confirmation of the weekly uptrend resumption. Recent events have led to a rollercoaster of emotional trading and a lot of people badly positioned. I was anticipating a sentiment reset before, as you can see in my related ideas, it was in fact needed to resume the long term uptrend in cryptocurrencies, but it's never easy to maneuver keeping the long term picture in mind when short term charts and sentiment seem abysmal, but that is when opportunity comes knocking. Let's see if things evolve favorably, if I'm on the right track, market participants have weighted risks from China's crack down far too heavily and not considered positives like Japan's position in this juncture, or the massive potential of ICOs as a means to democratize venture capital, or heck, the implications of $ETH finally scaling once Metropolis finally goes live in 2 weeks. I added fundamental events and key levels on chart, I think we might see a quiet period during China's golden week, but, some traders might use the lower liquidity to squeeze shorts, after jewish investors return to the market after Yom Kippur. Keep an eye out for these developments, and be ready to increase your exposure, or, start getting involved in this great trend soon. Cheers, Ivan Labrie.
BITFINEX:ETHUSDLong
by IvanLabrie
21
EURJPY - Draghi to deliver a dovish press conference tomorrow?The Euro has been gaining a lot of strength in 2017 since the possibility of potential taper in 2018. Coupling with the weakness on JPY, we have seen EURJPY rallied over 13% from the low at 115 in April to the high at 130.60 recently. On the daily timeframe, we have seen price reaching the minimum fibonacci extension expectation, and thus believing that we might see either a retracement or reversal soon. Looking on a lower timeframe - 4-hourly, we saw a first impulsive move, and it is now completing a corrective move. This gives me a further indication that we may potentially see selling pressure on EURJPY. And the catalyst can just be a dovish Draghi tomorrow. Personal bias - look for short opportunities on EURJPY, at least for the short term targeting 127.50 region. *Make sure you have a plan to trade this pair.
Short
by KarYong
1