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Japaneseyen

NZDJPY: Approaching the Sell Zone.NZDJPY has been trading sideways inside a Rectangle pattern for a full year. Our TP = 86.300 is close to getting hit, the 1D technicals are naturally green (RSI = 65.478, MACD = 0.580, ADX = 24.917) since we are on a bullish wave but the price is approaching the Sell Zone of this pattern. That is the region between the 0.786 Fibonacci level (86.300) and the R1 Zone (87.335 - 88.145). In addition, the 1D RSI hasn't been higher since November 1st 2022. Consequently, we are going short now targeting on the long term the 0.236 Fibonacci (TP = 81.550). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
2
CADJPY: The 1D MA50 is crucialCSDJPY is on the rising Channel of its medium term Channel Up, rebounding on the 1D MA50. The 1D technicals are neutral (RSI = 53.031, MACD = 0.270, ADX = 28.072) and that always favors technically the dominant trend. So as long as the price is inside the rising Channel, our target will be the 1D MA200 (TP = 101.350). If a candle closes under the rising Channel and ideally the 1D MA50 as well, we will sell targeting the bottom of the Channel Up (TP = 96.000). The 1D RSI is on a HL trendline. Technically a low risk buy will be on that line. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
2
EURJPY Trade.Hello Traders around the world. My name is Alexandre Karim & today we will be talking about the positions that I took on EURJPY. As you can see in the picture, the price reached a mass psychological level then started to form an ascending correction by moving slightly sideways. I was waiting for a reversal pattern to happen for a short position first entry & took it + I was waiting for a second position as a continuation pattern since the price already reversed. Took the second position as a bearish flag. The third position was a bearish flag as well and took me out BE. Patience is key. #THEPRIMES
Short
by alex_k_95
NZDJPY Buy opportunity with its invalidation.The NZDJPY pair has been on a strong rebound ever since the April 26 hit on the 1W MA100 (red trend-line), which has been the major long-term Support. Even though it got rejected on the 85.265 Resistance, as long as the 1D MA50 (blue trend-line) holds, we will be bullish targeting the bottom of the Resistance Zone at 86.500. The 1W RSI is printing a pattern similar to October 2021 - February 2022, supporting this bullish scenario, as the price has also broken above the top's Lower Highs trend-line. On the other hand, if we close a 1D candle below the 1D MA50, the bullish case will be invalidated and we will sell targeting the 80.600 Support. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
5
USDJPY after possible retest support line can start to rise Hello traders, I want share with you my opinion about Japanese Yen. Looking at the chart, we can see how the price retested the buyer zone 131.05-130.65 and started an upward movement. The Japanese Yen reached the resistance zone 134.90-135.15 and after a retest dropped to the support line. On several times, the price tested the support line, bounced, and formed an upward impulse. Japanese Yen broke through the resistance zone, rose to the level 137.75 and began to fall, broke through the zone 135.15-134.90 and approached the support line. Now the price is trading close to the support line and can go down and test it. I think the Japanese Yen has made a deep correction and can continue upward. The price after a possible retest of the support line can continue to rise and break through the resistance zone. In this case, I decided to set the target for the Japanese Yen in the zone 134.90-135.15 and at level 136.00. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
1
CADJPY Rejected on the 1D MA200. Is this a trend change?The CADJPY pair got a rejected yesterday near the 1D MA200 (orange trend-line), which hasn't been touched since November 30 2022. Since the March 24 Low the price has been trading within a Channel Up but the long term pattern is a Megaphone and yesterday's rejection took place on its top (Higher Highs trend-line). With the 1D MACD about to make a Bearish Cross, this is a Triple Sell signal on the long-term. As long however as the 1D MA50 (blue trend-line) and the Channel Up hold, we can buy and target short-term the 1D MA200 at 101.500. If however we close a 1D candle below the Channel Down, the Sell Signal will be confirmed and we will target 95.200 (above the Support Zone) and 93.500 (Megaphone's bottom) in succession. P.S. It's been almost 4 months since we called for a bullish divergence on CADJPY: ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
2
USD/JPY -3/5/2023-• FED-BOJ divergence is on the highlight again with the Bank of Japan status-quo last week, maintaining easing policy for the time being and in the near future, disappointing bulls who were betting on a tightening policy later this year • US Dollar strength comes from an aggressive Fed's policy which is likely to persist for some time • Technically, picture is bullish while prices are trading inside an ascending channel supporting higher prices in the coming days and weeks • Daily high around 137.70 was a previous resistance level and as the history tend to repeat itself, it again acted as a selling opportunity with price trading now almost 100 pips below it • Since we are approaching the higher extreme of the channel, risk reward favors to be on the short side hoping for a move back to the lower extreme Traders, if you like this idea please comment and like ✅ Here to answer all your questions, Good luck
by RamziAbouAbdallah-CMT
CHFJPY: Pullback for a month, then buy opportunityCHFJPY is an almost overbought 1D technicals (RSI = 69.922, MACD = 1.670, ADX = 65.369), rising non-stop since March 20th inside this 1 year Channel Up. The pattern is much like the June 29th 2022 top that after almost hitting Fibonacci 2.0, it pulled back to the 1D MA50 and resumed the rise to Fibonacci 2.618. Consequently, we are selling this pullback and once the 1D MA50 is hit, we reverse to buying (TP = 160.000). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
Yen Step Back, Two Steps ForwardDespite sharp inflation, the Bank of Japan (BOJ) left YCC unchanged on March 10th. This was Haruhiko Kuroda’s last meeting as BOJ Governor. Japan is still struggling to stoke growth at risk of sustained stagflation. Hence, his decision to leave rates intact was no surprise. Kuroda left the YCC unchanged. Analysts expected him to scrap the YCC so that the new incoming governor, Kazuo Ueda could start afresh. Hopes of change are now expected at the next BOJ policy meeting on April 27th. Kuroda leaves behind a mixed legacy. His strong monetary stimulus lifted the Japanese economy out of deflation at the cost of hurting bank profits with ultra-low rates. Growth has remained tepid. Kuroda has been a source of stability. More than what was needed in the staid land of the rising sun. Now, the monetary policy landscape is expected to shift as Ueda takes charge. New BOJ leadership and an aggressive US Fed will create near term weakness in JPY followed by medium term strength. This case study analyses a two staged positioning in CME Japanese Yen Futures to harness yield from anticipated currency moves. Change of Guard at the BOJ Under the new governor, definitive shifts are afoot. Inflation in Japan is non-negative. Really? Yes. Not only non-negative but also at levels unseen in 43 years. Kuroda may not have radically transformed Japanese economy, but he managed to revive its equity market. The risk of uncertainty and volatility exists once he leaves the office. Markets are used to perennial Japanese low inflation, and to a consistent central bank leadership. Both are now going or gone. Another big shift is BOJ's more definitive independence. While separate from Government of Japan, BOJ was seen as being an integral part of Abenomics to snap out of deflation. The Kishida-Ueda relationship is different. Prime Minister Kishida has not outlined a particular direction on macroeconomic policy. Politically, the LDP is far from united, not least on fiscal and monetary policies. Kishida’s base of support within the party is fragile, and his approval ratings have been in a prolonged slump. As a BOJ governor, Ueda comes from an unconventional background. He is the first academic to assume leadership of BOJ. He has not managed a large organization. He is knowledgeable about monetary policy and is a protege of Stanley Fisher. What, then, can we expect from Ueda? He is not convinced that inflation is sticky. Ueda maintains that “…inflation is led by cost-push factors” and “it will still take time to achieve sustainable inflation.” It does hint that he isn't someone who will make any sudden major moves. That said, in a parliamentary hearing earlier this month, Ueda hinted that the current YCC was unlikely to survive. Engaging the market is essential he said before adding that “in some cases, adding a surprise factor is unavoidable.” There is growing evidence emerging from the annual “shunto” (a big wage negotiation between unions and employers) that workers are asking for the largest raise in base pay in 25 years. Some Japanese employers have already raised wages sharply higher with case in point being Fast Retailing (a Japanese listed firm and parent company of Uniqlo) which raised pay by 40% earlier this year. Until now, it has been possible to attribute Japan’s inflation to the rise in the cost of imports driven by weak yen. Big wage increases would change that. However, the latest data, published Tuesday, shows that wage growth is not rising as fast as expected. In cash terms, it reached the highest level in decades last year, but the January figure was far lower. Real wages adjusted for inflation have been falling the most since 2009. Balancing growth while keeping inflation under control is not a small feat. Next BOJ policy meeting is more than a month away. Meanwhile, the US Fed is becoming more hawkish in its fight against domestic inflation. Another rate hike by the US Fed will further weaken the fragile Yen. The US macro environment is making an already complicated situation even more difficult. The failure of Silicon Valley Bank along with closure of Signature Bank and Silvergate Bank is testing the Fed’s wit. US Inflation continues to remain hot and three times the Fed’s target. With the liquidity backstop in place, the Fed is likely to jack up its rate by another 25 basis points when it meets on March 22nd. CME’s FedWatch tool pegs the likelihood of that happening at 82% as of March 14th. Against that backdrop, Ueda could do one of the three once in office – (1) further widen the 10-year JGB interest rate band, (2) target shorter term yields & thereby reduce JGB holdings, and (3) abandon yield targeting altogether. Options Markets are Bullish JPY/USD Options on CME’s Japanese Yen futures have an overall Put/Call ratio of 0.56 across all expiries, indicating that investors are expecting the Yen to weaken. In sharp contrast though, options for the July contract show a deviation from the trend with a Put/Call ratio of 2.6x. This coincides with the release of the 2nd Outlook Report by the BOJ after Ueda takes over, indicating the market expectation on Yen’s reversal versus USD starting July. How much more JGB can BOJ keep buying to sustain YCC? Can this last? Last December, the BOJ tweaked its YCC policy, to allow the 10-year Japanese Government Bonds (JGB) yield to move 50 basis points (bps) on either side of its 0% target, wider than the previous 25 bps band. The move stunned markets as BOJ hinted at monetary tightening after having stuck to its ultra-loose policy stance for a long time. YCC tweak spilled over into January as BOJ was forced to purchase a record $182B of JGB to defend its higher yield cap from breaching the ceiling of 0.50%. The BOJ now holds more than 50% of JGB, making the situation ever more unsustainable. Adding to the JGB burden, BOJ also owns the majority of domestically listed exchange traded funds (ETFs). Besides massive JGB purchases, the BOJ remodeled in January a funds-supply operation into a tool to prevent yields from rising rapidly. Beyond the current short-term loans, the BOJ amended the rules to offer funds extending up to 10 years with variable rates. In January, BOJ provided loans of 3T Yen in the January offer before extending the terms of the loan to 10-year for subsequent loans. In February, BOJ tweaked the fund-supply policy terms, including the quadrupling of minimum lending fee from 0.25%-1%, to limit the short-selling of JGB’s, this indicates that the BOJ is having to use all tools at their disposal in order to defend JGB yields from rising above their defined cap. The BOJ defended yet another attack on the YCC again in February prompting a further $2.2B of JGB purchases to keep yields from breaching the ceiling. Economists anticipate that Ueda will fundamentally revisit YCC before BOJ lands in crisis. Ueda starts on April 9th. It is unlikely that he will make any radical moves instantly. Meanwhile, Fed Chair Powell is going all guns blazing to tame inflation down. Jobs data released last Friday showed the creation of 311,000 jobs smashing expectations of 225,000 jobs indicating a tight labor market. A strong labor market risks fueling a wage-inflation spiral, leaving the Fed with no choice but to jack up rates further. Two Stage Trade Setup to Gain from Near Term Weakness & Medium-Term Strength CME’s Japanese Yen Futures provides investors an exposure of 12.5 million Japanese Yen for every lot with the price quoted in USD per JPY increment. Every 0.0000005 change in JPY provides an increment of $6.25 in contract value. With the USD expected to strengthen in the near-term, JPY will weaken until the next policy meeting on April 27th. As such a short position using CME Japanese Yen futures expiring in June (6JM2023) would provide a reward-to-risk ratio of 0.6x. Stage 1 Entry: 0.0075390 Target Level: 0.0074550 Stop Level: 0.0076670 Profit at Target: $1,050 Loss at Stop: $1,725 Reward-to-Risk: 0.6x Stage 2 Thereafter, if Ueda starts to steer Japan’s monetary policy stance differently, JPY will start to strengthen in the medium term. Following from a short position in the near term, a subsequent long position in CME’s Japanese Yen futures will allow the investor to gain from the strengthening JPY. Entry: 0.0074550 Target Level: 0.0081445 Stop Level: 0.0072775 Profit at Target: $8,620 Loss at Stop: $2,220 Reward-to-Risk: 3.88x MARKET DATA CME Real-time Market Data helps identify trading set-ups and express market views better. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com DISCLAIMER Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. This material has been published for general education and circulation only. It does not offer or solicit to buy or sell and does not address specific investment or risk management objectives, financial situation, or needs of any person. Advice should be sought from a financial advisor regarding the suitability of any investment or risk management product before investing or adopting any investment or hedging strategies. Past performance is not indicative of future performance. All examples used in this workshop are hypothetical and are used for explanation purposes only. Contents in this material is not investment advice and/or may or may not be the results of actual market experience. Mint Finance does not endorse or shall not be liable for the content of information provided by third parties. Use of and/or reliance on such information is entirely at the reader’s own risk. These materials are not intended for distribution to, or for use by or to be acted on by any person or entity located in any jurisdiction where such distribution, use or action would be contrary to applicable laws or regulations or would subject Mint Finance to any registration or licensing requirement.
CME:6JM2023Long
by mintdotfinance
2
AUDJPY: Testing the 1D MA50, approximating the perfect shortAUDJPY continues to trade inside a Channel Down, testing today the 1D MA50 after a continuous 1 month counter trend rise. For the time being this is rise similar to the one that was completed on February 14th and made the latest Lower High on the Channe Down. The ideal short entry is between R1 and the 1D MA200. We set a long term target on AUDJPY on the bottom dotted trendline (TP = 85.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
CHFJPY signaling a bullish extensionThe CHFJPY pair traded exactly as we expected more than 1 month ago, rebounding on the 2021 Higher Lows trend-line and hitting out 147.500 target: Today we see an impressive green 1D candle, indicating that the rally that started back then will have an extension. The 1D RSI indicates that we enter the final bullish leg of a sequence similar to June 2022. This gives a maximum upside at around +7.20% from the Higher Low. We set a target below it at 159.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
5
HelenP. I Japanese Yen may rise to resistance zoneHi folks today I'm prepared for you JAPANESE YEN analytics. A few weeks ago, the Japanese yen fell to the level 129.70, where it formed a support zone from which it rebounded and began a local uptrend. The price rose to resistance at level 133.80, re-tested it and fell to the trend line. The Japanese Yen continued to grow and re-reached a resistance of level 133.80, made a downward correction, after which it continued the uptrend, break through resistance and fixed higher. The price reached the next resistance at level 135.15, from which it decreased and re-tested the trendline. The Japanese Yen continued in an uptrend and recently broke through resistance. So, the price is currently trading above the level 135.15 and may continue the uptrend after a slight correction and test of current support. It seems to me that the Japanese Yen can continue to grow and reach the resistance zone. Therefore, targets will be set at level 136.50 and in resistance zone 137.30–137.90 with also corresponds Fibonacci level 1.618. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
2
AUDJPY Sell opportunity on a Double Channel Down pattern.The AUDJPY pair is trading inside Channel Down pattern since the September 13 2022 High that is diverging some (dotted lines) to the 1D MA200 (orange trend-line). At the moment the price is ranged within the 1D MA50 (blue trend-line) and 1W MA100 (red trend-line). Having previously broke below the 1W MA100, the current level is an ideal sell entry and with the 1D RSI showing similarities with with late 2022, we will target 83.450 as a Lower Low. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
Japanese Yen can continue to fall and break support of channelHello traders, I want share with you my opinion about Japanese Yen. Looking at the chart, we can see how the price broke through the resistance level 135.15 and continued to rise. After almost reaching the 138.00 mark, Japan's Yen bounce back and formed a seller zone, which it re-tested and started a downward movement. The price formed a downward impulse, broke through the support level and, after an upward correction, continued to fall. The Japanese Yen dropped to a support area 130.25-129.80, where it ended the downward movement and began to grow. Over time, the price has created an upward channel and is trading inside. We see how the Japanese Yen, after retesting the support line of the channel, continued upward and reached the current resistance level, which coincide with the resistance line of the channel. Not so long ago, the price bounced off the resistance line and began to decline. The Japanese Yen is now trading below the resistance line and can continue to fall. I think the price can continue upward movement, but first it will make a deep correction and go down to the support line. In that case, I decided to set two targets at level 133.25 and at level 132.80, which coincide with the support line of channel. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
7