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Buy GBPJPY Triangle BreakoutThe GBP/JPY pair on the M30 timeframe displays a bullish signal through a recent upward breakout from a symmetrical triangle pattern, suggesting a potential buying opportunity. Key Points: Triangle Breakout: The price has been consolidating within a triangle formation characterized by converging support and resistance lines. This often indicates indecision before a decisive move. However, the recent break above the upper resistance line at 186.30 signifies a shift in momentum towards the upside. Buy Entry: Consider entering a long position around the current price of 186.45, offering an entry point close to the breakout level. Target Levels: Initial bullish targets lie at the resistance levels of 187.45 and 188.05, marking previous resistance zones within the triangle. Stop-Loss: To manage risk, place a stop-loss order below the support line of the broken triangle at 186.00. This helps limit potential losses if the price reverses and breaks back down.
Long
by KABHI_TA_TRADING
20
Sell USDJPY Bearish Channel The USD/JPY pair on the M30 timeframe displays a bearish signal due to a well-defined downward channel pattern, suggesting a potential selling opportunity in the coming minutes or hours. Key Points: Bearish Channel: The price has been confined within a descending channel characterized by two falling lines, one for resistance and one for support. This pattern indicates ongoing selling pressure and potential for further decline. Sell Entry: Consider entering a short position around the current price of 148.03, situated close to the channel resistance. This offers an entry point near a potential reversal zone. Target Levels: Initial bearish targets lie at the support levels of 147.37 and 147.03, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 148.40. This helps limit potential losses if the trend breaks unexpectedly.
Short
by KABHI_TA_TRADING
9
Sell GBPJPY Bearish ChannelThe GBP/JPY pair on the M30 timeframe exhibits a bearish channel pattern, suggesting a potential selling opportunity in the coming minutes or hours. Key Points: Bearish Channel: The price has been confined within a descending channel, characterized by two falling lines, one for resistance and one for support. This indicates ongoing selling pressure and potential for further decline. Sell Entry: Consider entering a short position around the current price of 186.40, situated close to the channel resistance. This offers an entry point near a potential reversal zone. Target Levels: Initial bearish targets lie at the support levels of 185.50 and 185.02, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 186.90. This helps limit potential losses if the trend breaks unexpectedly.
Short
by KABHI_TA_TRADING
2
Buy NZDJPY Bullish ChannelThe NZD/JPY pair on the M30 timeframe presents a potential buying opportunity due to a well-defined bullish channel pattern. This pattern suggests ongoing upward momentum and a higher likelihood of further advances in the coming minutes or hours. Key Points: Bullish Channel: The price has been trading within an upward-sloping channel defined by two converging lines: a rising support line and a rising resistance line. This ongoing uptrend signals continued buying pressure. Buy Entry: Consider entering a long position around the current price of 90.05, which sits close to the channel support. This could offer an entry point near a potential continuation of the upward move. Target Levels: Initial bullish targets lie at the resistance levels of 90.73 and 91.06, marking previous resistance zones within the channel. Stop-Loss: To manage risk, place a stop-loss order below the support line of the broken channel, around 89.85. This helps limit potential losses if the price reverses and breaks back down. Thank you
Long
by KABHI_TA_TRADING
3
Chair Powell's Statements Impact on USDJPY: A Deep Dive AnalysisIn today's trading session, the focus is on the USDJPY pair, with traders eyeing a potential buying opportunity around the 148.100 zone. The currency pair is currently in an uptrend but undergoing a correction phase, with the price nearing the key support and resistance area at 148.100. This analysis is supported by recent statements from Chair Powell, who notably signaled a departure from market expectations by stating that a rate cut in March is not the Federal Reserve's base case. The strong payrolls report further reinforced this message, highlighting the robustness of the US economy. It's essential to consider Chair Powell's perspective, as he has access to more comprehensive information than the markets. Despite this, he chose to push back on rate cuts rather than keeping his options open, indicating confidence in the economy's trajectory. In such scenarios where US growth leads the way, it typically creates a positive environment for the Dollar, adding to the rationale behind monitoring the USDJPY pair for potential buying opportunities.
Long
by JoeChampion
2
SELL NZDJPY Bearish ChannelThe NZD/JPY pair on the M30 timeframe presents a potential selling opportunity due to a well-defined bearish channel pattern. This pattern suggests ongoing downward pressure and a higher likelihood of further declines in the coming minutes or hours. Key Points: Bearish Channel: The price has been trading within a downward-sloping channel defined by two converging lines: a falling resistance line and a falling support line. This ongoing downtrend signals continued selling pressure. Sell Entry: Consider entering a short position around the current price of 89.95, which sits close to the channel resistance. This could offer an entry point near a potential reversal point. Target Levels: Initial bearish targets lie at the support levels of 89.30 and 88.92, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 90.30. This helps limit potential losses if the downtrend breaks unexpectedly. Fundamental Updates : JPY - Service PMI - Now comes with Positive data. Weaker New Zealand Business PMI: Recent data showed a decline in New Zealand's Business PMI for January, raising concerns about the country's economic health and potentially weakening the New Zealand Dollar (NZD).
Short
by KABHI_TA_TRADING
10
Double top on GBP/JPY at key resistanceThe Japanese yen may have weakened following the BOJ’s latest ‘non decision’ regarding monetary policy, but markets clearly weren’t surprised enough for it to extend its bearish moves today. Not a single xxx/JPY pair managed to break above its cycle highs, and momentum is now turning lower on these pairs to show a strengthening of the yen. But what has caught our eye is the double top on the GBP/JPY daily chart, as it has stalled around the December 2015 high. Also note that the GB-JP 2-year spread is also quite low relative to spot GBP/JPY, and it makes us wonder if GBP/JPY has risen too far, too soon. The 1-hour chart shows that momentum has turned lower in the first half of Wednesday’s Asian session. Prices are trading beneath the 50-dar EMA and daily pivot, so we would consider shorts below 118.20 for an anticipated move to the weekly pivot around 187.25 – although the cycle lows or daily S1 between 187.32 – 187.40 could also be considered. A break beneath the weekly pivot point assumes a deeper retracement is playing out on the daily chart.
Short
by CityIndex
USD/JPY bulls eye a move to 150Trading conditions have been choppy over the past week and a half for currency traders whilst the US dollar index has remained trapped between its 50 and 20-day EMAs. But USD/JPY shows the most promise for a breakout, which we suspect could be to the upside. A false break below 147 last week suggests the corrective low could be in, and a 3-day bullish reversal (Morning Star pattern) hints of an upside breakout from its consolidation. The 10-day EMA is also providing support on the daily chart. From here, we're looking for dips within the bullish pattern and ideally for prices to hold above the 10-day EMA to initiate a long. Whilst prices remain above last week's low, the bias is for a move to the 149.58 - 150 zone.
Long
by CityIndex
USDJPY: Thoughts and AnalysisToday's focus: USDJPY Pattern – Consolidation Watch Support – 146.20 Resistance – 148.50, 151.70 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the USDJPY. After US employment data shocked on Friday and lifted the USD, we are wondering if we will see trend continuations on the USDJPY. So far, the price continues to travel on its uptrend after breaking the last downtrend in December. The key for buyers now is a break of 148.50 resistance. If we see that break, we will be waiting to see if buyers can retest 151.70 resistance. A close below 146.20 would be a worry for buyer momentum. Good trading.
Long
by Eightcap
EURJPY Bearish for this weekThis week, prevailing market dynamics suggest a bearish sentiment for the EUR/JPY exchange rate, propelled by a convergence of influential factors. Foremost among these is the European Central Bank's cautious monetary policy stance in response to lingering concerns surrounding inflationary pressures and economic recuperation within the Eurozone. Compounded by lackluster growth indicators and persistently subdued inflation figures, investor confidence in the euro is challenged, thus exerting downward pressure on the EUR/JPY pair. Heightened political uncertainties within the Eurozone and escalating global geopolitical tensions serve to amplify risk aversion among investors, fostering an inclination towards safe-haven assets like the Japanese yen. Concurrently, market participants remain attuned to nuanced shifts in central bank policies and interventions, which may further exacerbate selling pressures on the EUR/JPY exchange rate as market sentiment adjusts accordingly. In this intricate interplay of economic, political, and market variables, the prevailing forecast for the EUR/JPY pair appears decidedly bearish for the forthcoming trading week.
Short
by Area618
4
AUDJPY Bearish Stocks and potential downsidesHey Traders, in tomorrow's trading session we are monitoring AUDJPY for a selling opportunity around 96.900 zone, AUDJPY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 96.900 support and resistance area. Fundamentally we would like to consider the current pressure on stocks. The Australian dollar is considered a commodity currency, meaning its value is influenced by commodity prices, particularly those of key Australian exports like iron ore and coal. When global stock markets are performing well, it tends to reflect positive investor sentiment and increased demand for commodities, which can lead to a stronger Australian dollar. As a result, AUD/JPY may show a tendency to move in tandem with global stock indices during periods of market optimism.
Short
by JoeChampion
5
Buy GBPJPY Channel BreakoutGBP/JPY M30 Channel Breakout Hints at Potential Upside: Buy Opportunity Emerges The GBP/JPY pair on the M30 timeframe presents a potential buying opportunity due to a recent upward breakout from a channel pattern. This pattern suggests a shift in momentum towards the upside, potentially offering entry points for short-term long positions. Key Points: Upward Channel Breakout: The price has been trading within a channel defined by two rising lines, one for support and one for resistance. This indicates ongoing buying pressure and potential for further advance. However, a recent break above the upper resistance line signifies a potential shift in momentum towards the upside. Buy Entry: Consider entering a long position around the current price of 186.60, which is close to the breakout level. This offers an entry point near a potential continuation of the upward move. Target Levels: Initial bullish targets lie at the resistance levels of 187.48 and 188.17, marking previous resistance zones within the channel. Stop-Loss: To manage risk, place a stop-loss order below the support line of the broken channel, around 185.85. This helps limit potential losses if the price reverses and breaks back down. Fundamental Updates : BoE Meeting Minutes: Bank of England (BoE) meeting minutes reveal a hawkish tilt towards raising interest rates sooner than expected, it could strengthen the Pound against the Yen. Weaker Japanese Yen: The Yen has been weakening recently due to the Bank of Japan's continued loose monetary policy, potentially supporting a rise in GBP/JPY.
Long
by KABHI_TA_TRADING
26
USDJPY: Reacting to Strong NFP Following Fed's WarningIn today's trading session, our attention is on USDJPY, where we are eyeing a buying opportunity around the 147.400 zone. USDJPY has recently broken out of a downtrend and is currently in a correction phase, approaching the retrace area at the 147.400 support and resistance zone. Adding a fundamental layer to our analysis, we anticipate further strengthening of the USD. The Federal Reserve's indication that rate cuts in March are unlikely has bolstered the dollar's position in the market, contributing to the bullish outlook for USDJPY. Furthermore, today's release of the Non-Farm Payroll (NFP) data for January has added to the bullish sentiment surrounding the USD. The NFP report revealed a significant increase of 353,000 jobs, surpassing the expected figure of 180,000. This strong labor market performance suggests robust economic activity, potentially leading to increased investor confidence in the USD. Consequently, USDJPY may experience upward momentum as traders react to the positive economic data. t's essential to remain vigilant of both fundamental and technical factors influencing USDJPY's movement. The combination of a hawkish stance from the Federal Reserve and better-than-expected economic indicators like the NFP data could fuel further appreciation of the USD against the JPY. Trade safe, Joe.
Long
by JoeChampion
AUDJPY to find sellers at market?AUDJPY - Intraday Broken out of the channel formation to the downside. We look to sell rallies. We expect a reversal in this move. Risk/Reward would be poor to call a sell from current levels. A move through 96.25 will confirm the bearish momentum. We look to Sell at 96.80 (stop at 97.30) Our profit targets will be 95.60 and 95.40 Resistance: 96.80 / 97.00 / 97.25 Support: 96.25 / 96.00 / 95.75 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
Predicted Path for GBP/JPY Traders, Let's delve into the forecasted path for GBP/JPY: Trend Analysis: Upon examining the daily chart, we notice a resilient bullish channel that, despite being broken previously, has resurfaced with vigor. Furthermore, the strength of bullish candles outweighs downward movements. Potential Obstacles: Anticipate some hurdles or resistances along the upward trajectory. These include: The daily resistance at approximately 188.600, The declining trendline, and The bottom of the channel. These levels can serve as strategic points for trade entries or exits. Potential Starting Point: Consider initiating the upward movement between the levels of 186.00 and 185.00. Keep a keen eye on these dynamics as you navigate GBP/JPY. Best of luck in your trading endeavors!
Long
by AliSignals