USDJPY Short-term buy signalThe USDJPY pair hit our early September target (see chart below) of 150.00, extending the bullish trend within the long-term Channel Up:
The price remains above the 1D MA50 (blue trend-line) since July 31 and the bullish flag formed on the 1D RSI indicates that we will have another short-term bullish leg towards the top (Higher Highs trend-line) of the Channel Up. We targeting 153.000 (+3.95% rise from the recent Low, similar to the previous leg).
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Japaneseyen
🚨NZDJPY will Go Down to Uptrend line🚨🏃♂️NZDJPY is moving near the Important Resistance line and the Resistance line and inside the 🟡 Price Reversal Zone(PRZ) 🟡.
💡We can consider the formation of the 🌠Shooting Star Candlestick Pattern🌠 in 🟡 Price Reversal Zone(PRZ) 🟡as a sign of a return.
🔔I expect NZDJPY to return to the 🔴 Resistance zone 🔴 and Uptrend line in the coming hours.
New Zealand Dollar/Japanese Yen Analyze ( NZDUSD ), 4-hour Time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
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EURJPY: Classic Bearish Pattern 🇪🇺🇯🇵
In comparison to USDJPY, EURJPY looks bearish to me,
After a test of a significant daily resistance,
the price formed a head and shoulders pattern on that and broke its neckline.
We see its retest now.
Probabilities will be high that the market will drop.
Goal - 156.7
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USDJPY: Bullish Move From Key Level 🇺🇸🇯🇵
USDJPY is taking off from a solid horizontal support.
After the test of the underlined blue area, the price formed a doji candle on that
and then we see a huge imbalance.
I expect a bullish movement at least to 149.78
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GOLD/JPY: Bearish Bump and Run Reversal TopXAUJPY after sharply rising from the long term Lead-In trend line and Horizontal Support Level, is now currently testing the supply line of a local Right-Angled and Ascending Broadening Formation it has developed at the highs and seems to have completed an RSI BAMM and is now looking to do an impulsive move down. If the impulsive move down is great enough, we will see XAUJPY break down below the Lead-In Trend Line and confirm it as a Bump-and-Run Reversal Top, which could take us to the measured move that happens to just about align with the 61.8% Retrace overall.
The JPY overall has been setting up and getting quite Bullish against other currencies recently too, such as the AUD, GBP, CAD, and EUR. I suspect this trend of the Yen gaining value against assets will continue in Gold as the USD continues to rise and the JPY maintains its USD value relative to other currencies and assets.
EURJPY: Bearish Outlook Explained 🇪🇺🇯🇵
After a test of a significant daily structure resistance,
EURJPY retraced and formed a head and shoulders pattern on a 4H time frame.
Before the market closed, the price violated its neckline and closed below that.
It is an important sign of strength of the sellers.
The pair may keep falling now to 156.7 support level.
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CHFJPY New bullish leg underwayCHFJPY is trading inside a Channel Up, which made on October 3rd the latest Higher Lon on the 1day MA100.
The price is already near Resistance A (166.550) and the 1day RSI bullish above the 60.00 level.
Buy and target 172.000 (less than the previous -9.60% rise).
Previous chart:
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AUDJPY Sell pattern after Lower High rejection.The AUDJPY pair is testing the 1day MA50 today having formed Lower Highs since the June 19th peak.
If the 1day MA50 breaks, the MA200 should be put up for testing but it is more likely to test the July 28th Low as the same weak pattern did in 2022.
Sell and target 92.000 (over the 0.5 Fibonacci level).
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GBPJPY: Bullish Reversal Now Confirmed?! 🇬🇧🇺🇸
Take a look at GBPJPY.
I see strong signs of a bullish reversal on a daily time frame:
the price formed a huge inverted head and shoulders pattern,
a neckline of the pattern and a resistance line of an expanding wedge pattern
were successfully broken.
I anticipate a growth now.
Goals: 185.4 / 186.5
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GBPJPY: Do You See a Bearish Pattern? 🇬🇧🇺🇸
After a test of a solid horizontal resistance, GBPJPY dropped
and violated a support line of a rising parallel channel.
To me, it is a strong bearish signal.
I would expect a bearish continuation at least to 181.16 level.
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EURJPY Buy signal inside a strong Channel Up.EURJPY is trading inside a Channel Up starting from the beggining of the year.
The MA100 (1d) gave the necessary Support last week at the bottom of the Channel UP.
Trading Plan:
1. Buy once the price closes over the Falling Resistance.
Targets:
1. 166.700 (+8.00% rise as per the bullish leg prior).
Tips:
1. The RSI (1d) hit Support (1) and rebounded. This support level has priced the lows of July 27th, March 17th and January 17th.
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Notes:
Past trading plan:
✅NZD_JPY SWING BEARISH PREDICTION🔥
✅NZD_JPY is trading in a
Massive rising wedge pattern
And the pair is now going up
To retest the rising resistance
Of the wedge from where
I think that we will see a
Pullback and a move down
To retest the rising support below
SHORT🔥
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EURJPY 7month Channel Up looking for a correction.EURJPY is trading inside a Channel Up for the past 7 months, consolidating currently around the 1day MA50.
The Channel Down on the 1day RSI hints towards a possible price pull back, the same kind that took place in November-December and June-July 2022.
Both corrections touched the 1day MA200.
Sell and target 152.000 (projected contact with the 1day MA200).
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USDJPY - Bearish Rising Wedge 📉Hello Traders!
On Tuesday 3 Oct, The USDJPY Price Reached a Resistance Level (150.315 - 150.160).
-The Price Formed a Rising Wedge Pattern !
-The Support Line of The Wedge is Broken.
So, I Expect a Bearish Move📉
i'm waiting for retest...
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TARGET: 146.630🎯
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GBPJPY - Another Opportunity 📉
Hi Traders!
On Wednesday 16 The GBPJPY Price Reached A Monthly Resistance Level (186.098 - 186.805)
The Price Formed a Double Top Pattern.
The Neckline is Broken.
So, I Expect a Bearish Move📉
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TARGET 1: 180.750🎯
TARGET 2: 178.700 (If the price breaks and closes Below Support Line)
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GBPJPY - BEARISH DOUBLE TOP PATTERN📉Hello Traders!
On Wednesday 16 The GBPJPY Price Reached A Monthly Resistance Level (186.098 - 186.805)
The Price Formed a Double Top Pattern.
The Neckline is Broken.
So, I Expect a Bearish Move📉
i'm waiting for retest...
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TARGET 1: 180.750🎯
TARGET 2: 178.700🎯
___________
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Yen Drops Below 150 Per Dollar - Exercise Caution in TradingThe Japanese yen has recently dropped below the critical threshold of 150 per dollar, primarily due to mounting concerns regarding intervention measures. In light of this situation, I strongly urge you to exercise caution and consider pausing yen trading until further clarification is obtained.
The sudden decline in the yen's value has raised concerns among market participants, as it suggests the possibility of intervention by the Japanese government or central bank. Intervention refers to deliberate actions taken by authorities to influence their currency's exchange rate, typically through buying or selling large amounts of their own currency in the foreign exchange market. Such interventions can have a profound impact on the currency's value and create significant volatility in the market.
Given the uncertainty surrounding the current situation, it is prudent to reassess our trading strategies and ensure that we are not unnecessarily exposed to potential risks. Therefore, I strongly recommend that you temporarily halt yen trading until we receive further guidance or clarification from reliable sources regarding any potential intervention measures.
In the meantime, I encourage you to closely monitor the latest news and market developments related to the yen. Stay informed about any official statements or actions from the Japanese government or central bank, as these can provide valuable insights into the future direction of the currency. Additionally, consider diversifying your portfolio to reduce reliance on yen-based assets until the situation stabilizes.
Please remember that our primary objective is to protect our investments and mitigate risk. By exercising caution and temporarily pausing yen trading, we can better position ourselves to navigate the current market uncertainties and make informed decisions when clarity emerges.
If you have any questions or require further guidance, please do not hesitate to reach out to me or our dedicated support team. We are here to assist you and ensure that you have the necessary information to make well-informed trading decisions.