JPY Index Reversal – FVG Tap and Potential Upside Move?The JPY Index has tapped into a high-probability Fair Value Gap (FVG) after taking out sell-side liquidity. This price action suggests a strong move to the upside may be on the horizon, with price moving from Internal Range Liquidity (IRL) to External Range Liquidity (ERL). With the FVG acting as a key reversal zone, targets are set at 747.5, 771.1, and the higher buy-side liquidity at 788.3.
DYOR
Jpyindex
JPY 1D Outlook for next week JPY 1D Outlook for next week
Currently JPY running with Descending channel and still on path correctly. Already broke the 4H Support level 754.4 and continues bear market.
Analyze recommend to open buy order with All JPY pairs according to strong side. ( USDJPY Didn't recommend till CPI )
Key levels D1
Pressure level located | 767.3 | 774.6
Support level located | 748.2 | 744.6
GBP/JPY 188.001 - 0.06% LONG IDEA MTF BIAS 🐮🐮🐮HELLO TRADERS
Hope everyone is doing great 🛑 New week new opportunities
A look at GBPJPY ahead of the new week 👌MULTI-TIMEFRAME ANALYSIS
BXY DAILY TIME-FRAME
* The POUND index has been range bound.
* Looking for it to push higher to take BSL.
* Looking for GBP to be strong this week.
JPY INDEX DAILY TIME-FRAME
* JPY INDEX is on a strong bearish momentum.
* Looking for a rejection at the - FVG.
* For a continuation with the bears.
GBPJPY DAILY TIMEFRAME
* Looking for a rejection at the +FVG for a continuation with the bulls.
* This would align with both indexes.
* continuation bullish would be favored for me until price says otherwise.
GBPJPY 4H TIMEFRAME
* Bearish Displacement possibly signalling retracement.
* Looking to trade into Discount before continuation.
* + FVG
* Trend continuation.
GBPJPY 1H TIMEFRAME
* Bearish Displacement possibly signalling retracement.
* Looking to trade into Discount before continuation.
* + FVG aligning with the 50%
* Trend continuation.
* strong bearish momentum changes the plan.
HOPE YOU ENJOYED THIS OUT LOOK, SHARE YOURS BELOW🛑
lets see how it goes.
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* Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT.
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LOVELY TRADING WEEK TO YOU!
JPYX Daily Analysis - Will We Break to the Upside?JPYX has been in a descending wedge holding pattern since July of this year and has yet to successfully break out toward the upside. This analysis predicts a pullback from the bear trend up to the Daily 200EMA around 792.0 and if penetrated, to the 807.0 area.
Key Points:
1. JPXY is in a descending wedge pattern which is a bullish signal
2. Several bull candles attempting to breakout
3. The bear candles are getting weaker as we consolidate downward
4. The Daily 200EMA target is aligned slightly below the wedge high
5. RSI has some room to move up
I do not believe we are in a situation where JPXY will reverse at a macro level, the trend is still bear until we start putting in higher highs on the monthly candles above the Monthly 30EMA. In the short term, I would be careful betting against JPY on the Daily and Weekly given a pullback may be around the corner.
As always, trade at your own risk, you are responsible for your trades. I hope this analysis was insightful and useful.
Trade wisely and let us know what you think in the comment section below!
JPY Pairs On Fire, CADJPY Has A Good Set Up Coming SoonTraders, USDJOU has been on fire since I published this breakout idea (see below). Now JPY pairs may take a little pause and can correct. They are still very strong so if you are looking to short, please ensure that you have a good confirmation.
CADJPY is a good candidate for this correction as it has one the cleanest set up available. We have 2 W patterns, one smaller one which is just about to complete. It should give a confirmation either this week or the next. If the mid point is broken then we can see further shoot up towards the completion of a bigger W pattern.
USDJPY on the other hand is about reach a zone with mid point around 128. After this we should see a little correction at least.
Trade what you see and ignore any hypes. Stay objective.
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
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Take care and trade well
-Vik
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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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JPY Index Pre-Election Analysis JPY Index ended the week consolidating at the previous HH (10229).If this market can't break and close above this current level I'll be looking a minor pullback towards the 50% fibonacci for buys which has confluence with a previous level of daily minor resistance. A break and close below the previous HL (9999) will invalidate buy setups.
JPY IndexHere are two charts of an equally weighted JPY index. On the right I have the daily timeframe and on the left I have the 4hr timeframe.
On the daily, I have marked two zones, a supply and demand zone. Price is much closer to demand than supply giving me the impression that price will have an easier time going up than down. This is setting my overall bullish tone for JPY.
On the 4hr chart, we can see price trending down illustrated with a descending channel. On the bottom of the 4hr chart I have the Rate Of Change indicator with an exponential Bollinger Band for contexts. ROC is a basic momentum indicator. I show on the chart that momentum has been diverging with price. The last red candle on the chart(circled on the chart) may have been panic selling. Panic selling is a phenomenon that the end of moves that signal a potential swing low is forming. Notice how the ROC histogram bars were getting smaller and small and then a large bar(circled at the bottom) forms as price puts in a short term low.
Conclusion: Looking for JPY strength to continue. If so, I will try to buy JPY against it counterparts. Looking at my relative strength analysis, good currencies to sell against JPY would be GBP, CAD, EUR and AUD.
JPY IndexThe JPY index has taken out it's support level. Now that it's out of the way, we could see a move down towards the next support level over the coming weeks and months. If so, JPY will stay weak relative to other currencies continuing the current uptrends we see across the JPY board. Looking for good quality long entries.
Yen Index at resistanceThe first two weeks of June has been fruitful for JPY, gaining strength against it's major counterparts. Maybe the strength will continue but my Yen index has rallied to resistance with supply above. AUDJPY and NZDJPY have very nice uptrends and I'll be watching these and others for their next impulse
Jpy pairs- where nextIn 2019 we had what, at that point, seemed to be a break to the upside (Jpy pairs weakness) of a triangle. The beginning of March came with a big reversal from 100 zone resistance and Jpy index is trading now at 90 support zone. I expect this support to be broken and 2020 be dominated by Jpy weakness (JPY pairs uptrend)