JXY
USDJPY H1 - SellDear Traders,
please, find our comment on the chart for you more information.
thanks and good luck
Bearish AB=CD spotted on JXYthe index is on long-term uptrend but a bearish correction is expected for couple of weeks with abcd pattern , overbought on stochastic , and reaching 1.27 on fibo levels , the bearish move wil continue till the 0.681 fibo of the uptrend ( japenese yen pairs are mostly for sell in these couple of weeks especially against usd )
Yen group - Long-term wave analysis - 01Yen group - Long-term wave analysis.
JXY - Japanese Yen Currency Index weekly chart
JXY BULLISH RELATED TO CRYPTO GOLD STOCKS AND ECONOMIC OUTLOOK
The Japanese Yen is looking to break out of my wedge. People are looking to hedge their money in the yen, meaning bullish gold and bitcoin. We shall also be seeing a recession soon in the US.
JXY Downtrend"The U.S. stands out for its positive returns. Ten-year Treasury rates were at 2.16% on May 31, vs. -0.09% for Japan and -0.20% for German equivalents. The dollar has been taking away the mantle of safe haven thanks to interest-rate differentials.
The flows into yen as a safe haven remains, but for us to see it go down to, say, 105, you’ll need to see a major geopolitical shock happen."
Quoted from Jane Foley, head of currency strategy at Rabobank International in London.
