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EURJPY Key trading levelsThe EURJPY pair is trading around the 1D MA50 (blue trend-line) being within a Channel Down pattern since the April 21 High. Coming off a Bearish Megaphone, this is similar to the Channel Down of September - November 2020, which was nothing more than a big Bull Flag on its way to a strong uptrend. If the pattern continues to be repeated, then the price should post one last Lower Low near the 1D MA200 (orange trend-line) and then rebound towards the 140.000 High of April. If however the 137.00 Resistance breaks first, this Lower Low is invalidated. Notice also that the MACD is currently on a Bullish Cross. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
by TradingShot
4
TRADE OF THE WEEK | Classic Pattern Trading 💰 Hey traders, Last week we spotted together a cute double top formation on USDJPY. Its neckline breakout was a trigger for us to sell the market on a retest. This week, we finally cashed out with my students. The market dropped nicely giving us 130 pips of pure profit. What a great winner! Did you catch this move? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
USDJPY: Your Trading Plan For Next Week 🇺🇸🇯🇵 Hey traders, USDJPY is coiling around strong daily structure support. From such a perspective, I see two potential scenarios: Bearish If the price breaks the underlined yellow support to the downside and closes below that on a daily, then a further decline will be expected to 125.25 level. Bullish On a 4H time frame, we can see a local bearish trend. Lower highs are respecting a falling trend line. If the price breaks that to the upside I will expect a bullish move to a daily falling trend line. Wait for a reaction and only 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!❤️
Long
by VasilyTrader
16
EUR/JPY - BUY SET UP ON ECB RATE HIKES The Euro is now highly likely to catch a strong bid against the Yen after the European Central Bank President Christine Lagarde said the Central Bank is likely to start raising interest rates in July and exit sub-zero territory by the end of September 2022. Interest rate differentials on Government Bonds will support the EURO higher. In this video I breakdown the historical relationship between the difference in Japan and Europe's interest rates and how the currency pair follows the negative or positive change in European Bond Yields relative to Japan.
Long
by KayansMarkets
NZDJPY (NewZealand Dollar/Japanese Yen) Currencies analysis Technical Analysis: We can clearly see that the Bearish Divergence of Price and MACD has Started Forming in 6H time frame and it is one of the biggest signs that the bullish Trend is reversing and we can see some Price Correction on this Forex Instrument. we have defined 2 Targets using the Fibonacci Retracement Tools which we have forecasted the Price to fall. please check the Forecast dates and exact Prices.
Short
by BitonGroup
2
USDJPY: Important Decision Ahead 🇺🇸🇯🇵 Hey traders, As I predicted, USDJPY dropped nicely. Now the price is approaching strong daily structure support. From such a perspective, I see two potential scenarios: Bearish If the price breaks the underlined yellow support to the downside and closes below that on a daily, then a further decline will be expected to 125.25 level. Bullish On an hourly time frame, we can see a local bearish trend. Lower highs are respecting a falling trend line. If the price breaks that to the upside I will expect a bullish move to a daily falling trend line. Wait for a reaction and only 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!❤️
Long
by VasilyTrader
8
Updated technical GBPJPY price forecastMost traders are aware of the rout that the USD is carving into the Japanese yen and the Great British pound. Since the beginning of March 2022, the USD has appreciated against the yen by 11%, and 7% against the pound. Naturally, with their respective performances against the USD, the pound has strengthened against the yen since the beginning of March. But, by how much and what is the technical and fundamental perspective of the GBPJPY pair moving forward? GBPJPY Daily perspective Some long candles have begun presenting themselves in the GBPJPY daily chart recently, pushing and pulling this pair across a significant range over each trading session. This week, GBPJPY has swung between 156.30 and 161.80. GBPJPY 2H perspective On a short term view, we might expect some range-bound trading in the GBPJPY. The Average True Range indicator, on a 2-hour chart is showing weak buying and selling pressure. For a GBP bull, a bias for a tight range between 158.00 and 162.00 might be desired. A bear may extend that lower bound down to 155.00 in substitution for 158.00. As of writing, the GPYJPY is trading at 159.200. This level aligns closely to a resistance level from three previous highs going back to October 2021. The GBPJPY blasted through this resistance quite emphatically on March 22, and then slowly trended up to a peak of ~168.00 within a month. Whereupon pessimism in the UK economy set in, as the Bank of England gave warning of a potential recession, and the GBPJPY gave up a good chunk of gains. At the same time, the pound hit a 2-year low against the greenback. Even so, traders are still aware of the ultra-accommodative policy of the Bank of Japan. Thus, any potential dovishness from the Bank of England in response to the fear of recession is unlikely to reach the levels exhibited by the Bank of Japan. This fundamental factor may help to morph the 158.00 level, once a persistent level of a resistance, into a firm level of support moving forward.
by BlackBull_Markets
GBPJPY: Your Trading Plan For Today 🇬🇧🇯🇵 Hey traders, GBPJPY is approaching a very peculiar zone of confluence on a 4H: we see a perfect match between a horizontal resistance, falling trend line and fib.retracements of the last two impulses. To catch a bearish move from the underlined zone, wait for a breakout a bearish flag pattern. You need 4H candle close below its support to confirm that. Then a bearish continuation will be expected at least to 156.55 level. If the price breaks the blue zone to the upside, the setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
12