Japanese Yen - Short & Long Term TargetsJapanese Yen Daily
Where is the bottom of this market? This is my take on where we are at in the cycle.
I believe we are approaching an area where some buying interest will show up to bring us through a wave 4.
Ultimately a wave 5 will bring us to a long term buying point as shown here:
Japaneseyen
CADJPY Sell-opportunity on a long-term rising trend.The CADJPY pair has been on a (very) long-term rising trend as depicted by the Fibonacci Channel on this chart, since the March 2020 market low. At the moment we see a short-term pull-back after the price made a new Higher High since the April 21 one.
Based both on the RSI and MACD indicators, it appears that we are in a similar pull-back leg as the one that started on October 21 2021. As you see the MACD was on a Bearish Cross with the RSI dropping after previously breaking a Lower Highs trend-line.
That sequence found bottom on the 0.618 Fibonacci retracement level. On the current pattern that level is at 104.810 and that is our target on the short-term. This is invalidated if we break above the 110.630 Resistance, in which case we will take it as a buy break-out signal, targeting the 2.0 Fibonacci extension of the Channel. Further selling can be made if the price breaks below the 1.0 Channel Fib, in which case we would expect it to reach the 1D MA200/ 1W MA50 (orange and red trend-lines respectively) Support Zone.
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USDJPYHELLO GUYS THIS MY IDEA 💡ABOUT USDJPY is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the buyers from this area will be defend this long position..
and when the price come back to this area, strong buyers will be push up the market again..
UPTREND + Support from the past + Strong volume area is my mainly reason for this long trade..
IF you like my work please like share and follow thanks
TURTLE TRADER 🐢
GBPJPY: Classic Bullish Setup 🇬🇧🇯🇵
On a yesterday's live stream with my students, we discussed GBPJPY pair.
Falling sharply, the price reached a solid demand cluster last week.
The price formed a tiny ascending triangle on that yesterday
and broke its neckline then.
I believe that the pair will keep growing now.
Goals: 164.28 / 164.73
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
EURJPY: Your Trading Plan 🇪🇺🇯🇵
EURJPY is coiling around a key daily structure support.
Analyzing the reaction of the price to that structure, I spotted a horizontal range on a 4H time frame.
The market remains very weak and indecisive on 4H and trades in sideways.
To buy with a confirmation, wait for a bullish breakout of its neckline (you need a 4H candle close above that to confirm the breakout).
Then buy aggressively or on a retest.
Goals will be 144.93 / 145.4
If the price breaks the green support, the setup will be invalid.
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Please, support my work with like, thank you!❤️
USDJPY: Key Levels to Watch This Week 🇺🇸🇯🇵
Hey traders,
Here is my latest structure analysis for USDJPY:
Support 1: 141.5 - 142.6 area
Support 2: 138.85 - 139.35 area
Support 3: rising trend line
Resistance 1: 144.55 - 145.0 area
Resistance 2: 146.5 - 147.6 area
The price is currently stuck between Support 1 & Resistance 1 composing a horizontal range.
For now, you can consider range trading, buying support / selling resistance.
To catch the next move, wait for a breakout of one of its boundaries,
it will initiate a move to Support 2 / Resistance 2.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
CHFJPY One of the most consistent signals of the past 12 months.The CHFJPY pair has been pulling back after the September 13 High, following the impressive rally since the August 02 low. This pull-back is taking place after the 1D RSI broke the 80.00 heavily overbought barrier.
On this 1D chart, you may notice that especially since October 20, 2021, every time the 1D RSI got heavily reversed upon breaking the 70.00 level, the pair pulled-back. Out of the 5 times that happened in total, in 2 occasions it hit the 0.382 Fibonacci retracement level, and in the other 3 in broke even below the 0.618 Fib.
As a result, it is highly likely to see this pattern repeating. The 0.382 Fib is the highly probable target and is at 145.600 (where is should hit the 1D MA50 (blue trend-line) in the process), while the 0.618 is at 142.500 (where it could make contact with the 1D MA100 (green trend-line)). If you are a medium-term, swing trader, this is one of the most consistent trades you can take at the moment.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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EURJPYHELLO GUYS THIS MY IDEA 💡ABOUT EURJPY is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the buyers from this area will be defend this long position..
and when the price come back to this area, strong buyers will be push up the market again..
UPTREND + Support from the past + Strong volume area is my mainly reason for this long trade..
IF you like my work please like share and follow thanks
TURTLE TRADER 🐢
EURJPYHELLO GUYS THIS MY IDEA 💡ABOUT EURJPY is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the Seller from this area will be defend this SHORT position..
and when the price come back to this area, strong SELLER will be push down the market again..
DOWNTREND + Support from the past + Strong volume area is my mainly reason for this short trade..
IF you like my work please like share and follow thanks
TURTLE TRADER 🐢
EURJPY: Pullback From Key Level 🇪🇺🇯🇵
Hey traders,
EURJPY is testing a key level.
The price formed a double bottom on that and broke its neckline.
I expect a pullback from the underlined structure now.
Goals: 143.76 / 144.2
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Today’s Notable Sentiment ShiftsJPY – The yen rose over 1% on Wednesday after the Bank of Japan conducted a rate check, possibly in preparation for currency intervention.
Summarising the market’s current view, CIBC stated: “Most market participants are on pins and needles awaiting whether or not we’re going to get any sort of intervention from the ministry of finance in Japan. It’s one of those things where we’ve seen comments so many times about the fact that they’re watching and monitoring the yen. The fact that they did a rate check overnight kind of indicates we’re in greater proximity toward intervention. But just intervention by itself we don’t think is going to be all that successful outside of an immediate knee-jerk reaction.”
EURJPY Buy opportunity upon a pull-back.The EURJPY pair is pulling back currently after marginally breaking above the June Resistance Zone. This continues to repeat the fractal of 2020 as we pointed out in our last analysis:
As you see the projection was correct as the price rebounded exactly on the 1D MA200 (orange trend-line) just like on November 02 2020 and hit the Resistance Zone. If the fractal continues to play out, then it was on January 15 2021 when the price pulled-back and hit the 1D MA50 (blue trend-line) and extended the rise. The 1D MA50 is now at 138.710 and rising rapidly. Most likely contact will be made once the MACD on the 1W time-frame completes that Bullish Cross that is emerging. Our long-term target is 147.500, just below the 4.0 Fibonacci extension.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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USDJPY: Consolidation & Complete Indecision 🇺🇸🇯🇵
On a today's live stream we discussed USDJPY pair.
The pair is currently stuck within a horizontal trading range:
144.55 - 145.0 is its resistance
141.5 - 142.6 is its support.
Depending on the reaction of the price to its boundaries,
I see 2 potential scenarios:
If the price breaks and closes above the resistance of the range,
I will expect a bullish continuation at least to 146.5 level.
If the price breaks and closes below the support of the range,
a bearish continuation will be expected to 139.4 support.
Wait for a breakout & then follow the market!
What do you expect?
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Dominant Currency Sentiment - JPY loses momentumThe market focus remains on JPY and the possibility of intervention by Japanese financial authorities. However, European market participants appear more sceptical.
Indeed, ING analysts note: "Never say never. They have been stepping up the rhetoric lately. But I would be cautious about the inevitability of their intervening. Japan is a signatory to the G20 and they have got policies about not intervening."
Similarly, the Norinchukin Research Institute's chief economist argues: "My feeling is that the MOF won't intervene at this stage and will leave it at verbal warnings. There's still a week before the Fed's rate-setting meeting. I don't think markets believe the ministry will intervene at current dollar/yen levels."
Given the more sceptical stance market participants are now taking, JPY remains firmer on the day but has since lost the majority of its earlier momentum.
Looking ahead, today's US economic calendar is light on tier one data, keeping the market's focus tilted towards JPY and the possibility of intervention, alongside broader themes such as the prevailing risk tone.
Focus will then shift towards economic data in the following Asia-Pacific session, with the release of New Zealand GDP and Australian employment.
SGDJPYHELLO GUYS THIS MY IDEA 💡ABOUT SGDJPY is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the buyers from this area will be defend this long position..
and when the price come back to this area, strong buyers will be push up the market again..
UPTREND + Support from the past + Strong volume area is my mainly reason for this long trade..
IF you like my work please like share and follow thanks
TURTLE TRADER 🐢
USDJPYHELLO GUYS THIS MY IDEA 💡ABOUT USDJPY is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the Seller from this area will be defend this SHORT position..
and when the price come back to this area, strong SELLER will be push down the market again..
DOWNTREND + Support from the past + Strong volume area is my mainly reason for this short trade..
IF you like my work please like share and follow thanks
TURTLE TRADER 🐢
CHFJPY ready for big short!Hello Traders, here is the full analysis for the pair ChfJpy , let me know in the comment section below if you have any questions.
The ellipse could represent a possible zone with good risk/reward to accumulate short position.
Please note that all the information and publications here are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
GBPJPY: Important Breakout 🇬🇧🇯🇵
Hey traders,
GBPJPY pair is very bullish from the beginning of the last week.
The price broke and closed above a key daily supply area yesterday.
The broken structure turned into a key support now.
I expect a bullish movement at least to 167.8
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
GBPJPY | ShortMost of the movements of the GBPJPY currency pair are side movements; Well, here we have two large and small side areas, where the price is near the ceiling of the large side area. In the first stage, it can move from the ceiling of the large side to the ceiling of the small side, and then continue to move in the area of the small side.
USDJPYHELLO GUYS THIS MY IDEA 💡ABOUT USDJPY is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the Seller from this area will be defend this SHORT position..
and when the price come back to this area, strong SELLER will be push down the market again..
DOWNTREND + Support from the past + Strong volume area is my mainly reason for this short trade..
IF you like my work please like share and follow thanks
TURTLE TRADER 🐢
EURJPY: Pullback From Key Level 🇪🇺🇯🇵
Hey traders,
EURJPY reached year's highs.
I expect a pullback from the underlined blue structure to 143.06 / 142.63 levels.
I see a tiny little head and shoulders pattern on 1H time frame, confirming the strength of the underlined resistance.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
USDJPY: When Will It Stop?! 🇺🇸🇯🇵
Those who are wondering, when USDJPY will finally stop,
I want to remind you that earlier we spotted together 146.0 - 148.0 resistance cluster.
It is the closest historical level based on 25 years' high.
Be prepared for a further bullish continuation to that area.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️