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USDJPY (Full Review)The dynamic strength of the greenback This strength lies in the lust to expand from the base (= the tendency towards 103xx-104xx) and further in the circumstances where technical breaks occurred or are made possible. Seller's outpost at December 2016 highs is falling apart from the Fed superiority. Buyer's are now showing that momentum can be keenly exercised in the break above 118.6x. An examination of the before and after gives an undoubted advantage to buyers. The Yen as endgame weakness Critical for an evaluation of the issues raised is the fact that the war/sanctions are causing Japan to lose much of its glory to the Panda. There is no longer any likelihood of shifting gears. Japan has not yet somehow managed to get going again in the middle game and it looks inevitable. Yen is suffering a lot not only because of BOJ isolation and need of protecting, but also because the technicals are so weak. Consider for example when we were sitting at 108xx with an ABCDE slingshot. Now it is clear...The triangle was used for centralising and manoeuvring to form a gateway. All possible movement ever since has been with an impressive degree of one-sidedness; the latest break of 118.6x is unlocking 126xx in the coming weeks/months. Let's sum it up: Buyers are still aiming for the 150 target in an ABC that appears to be a done deal once above 125.8x, whereas sellers remain extremely weak. In addition with quad witching now cleared, the 118.6x break is important unlocking a structural 'crash' and burn momentum move in Yen for this week onwards.
Long
by ridethepig
8
JP225 NIKKEI : FUNDAMENTAL + LONG FORECAST | PRICE WILL GROW.Japan’s Nikkei jumps about 4% following oil drop; Nio sees gains fizzle in Hong Kong debut Shares in Asia-Pacific jumped on Thursday, following an overnight bounce on Wall Street after oil prices fell sharply from a recent surge. International benchmark Brent crude and U.S. crude futures tumbled more than 10% overnight on Wednesday. Oil prices however recovered from some of those losses in the afternoon of Asia trading hours on Thursday, with international benchmark Brent crude futures up 4.1% to $115.70 per barrel. U.S. crude futures climbed 2.92% to $111.87 per barrel. Asia markets responded on Thursday to the overnight declines in oil prices. China, India, Japan and South Korea are all major importers of oil, according to 2020 data from the International Energy Agency. The Nikkei 225 in Japan led gains among the region’s major markets as it jumped 3.94% to close at 25,690.40 while the Topix index climbed 4.04% to 1,830.03. The Hang Seng index in Hong Kong closed 1.27% higher at 20,890.26. Shares of Chinese electric vehicle maker Nio started trading in Hong Kong on Thursday, in what is the firm’s secondary listing. The shares initially jumped but later erased most of those gains, finishing its debut day 0.82% above its issue price. Mainland Chinese stocks closed in positive territory, with the Shanghai composite gaining 1.22% to 3,296.09 while the Shenzhen component surged 2.179% to 12,370.95. South Korea’s Kospi also gained 2.21% on the day to 2,680.32, with markets returning to trade from Wednesday’s presidential election which saw conservative opposition candidate Yoon Suk-yeol emerging victorious. In India, the Nifty 50 jumped 1.47% while the BSE Sensex advanced 1.53%, as of 1:47 p.m. local time. In Australia, the S&P/ASX 200 climbed 1.1% to close at 7,130.80. Shares of major miner Rio Tinto, however, plunged 7.73%. The firm told CNBC on Thursday that it is “in the process of terminating all commercial relationships it has with any Russian business.” MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.84%. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 98.124 after a recent decline from around 99. The Japanese yen traded at 115.90 per dollar, weaker than levels below 115.2 seen against the greenback earlier this week. The Australian dollar was at $0.7339, still off lows below $0.726 seen earlier in the week.
OANDA:JP225USDLong
by INDEX_INSIDERS