AUDJPY forming a bullish patternThis is an update of the AUDJPY pair on my previous sell signal upon the 1D RSI Resistance rejection, as illustrated below:
With the price now recovered from the sub 88.000 level, the pair is waving a buy signal as it broke above both the 1D MA50 (blue trend-line) and the 0.618 Fibonacci retracement level. Since it started trading on this long-term Fibonacci Channel back in 2020, this break-out combination has only happened twice (see the circles) and on both cases after a short-term pull-back, the price rallied strongly. For example see late June 2021, where the price failed to break above the 1D MA50 and 0.618 Fib.
Consider also the important of the 1D RSI Symmetrical Zone. The RSI is now exactly on the same level (flag symbol) that it was during those two break-outs I mentioned (mid November 2020 and early January 2022). This further suggests that we may be replicating currently that exact same bullish pattern.
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Japaneseyen
CADJPY: Classic Trend-Following Setup 🇨🇦🇯🇵
Hey traders,
CADJPY is trading in a long-term bullish trend.
Reaching a new high the market started a correctional movement.
For more than a month, the pair was steadily falling within a bullish flag pattern.
Yesterday, its resistance was finally broken.
I believe that such a breakout may initiate a bullish trend continuation.
Goals: 102.7 / 104.5
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CAD-JPY Short From Resistance! Sell!
Hello,Traders!
CAD-JPY will soon retest a falling resistance
Which makes me bearish on the pair
In the short term and I am expecting
A move down from the resistance
Towards the target below
Sell!
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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.
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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?
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USD-JPY Will Go Down! Sell!
Hello,Traders!
USD-JPY is trading in a downtrend
And the pair broke a key horizontal level
So after the pullback and retest
The bearish dynamic will continue
And we will see the price retesting lower demand levels
Sell!
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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?
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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.
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.