Overview I'm calling 2024 the end of Lira selling. The Details 2024 could see Turkish inflation peak🗻 The main driving force of the TRY selling has been unconventional monetary policy, erratic changes of the head of Turkey's central bank and finance ministers, and undisciplined high inflation A rate hiking cycle has been in play since May 2023 - rates...
1 Apart from the Japan intervention, US Treasury bond yields renew fears of recession and also weigh on the risk-barometer pair, not to forget the recently softer US data. However, the Bank of Japan’s (BoJ) defense of easy-money policy joins the recently softer Japan statistics to propel the JPY pairs 2 Trend is bearish 3 Bonds:Going down
This is my high risk, long term carry trade for 2023 (opened in 2022, looking to add to my position further). The swap rate is very attractive - to provide some insight, I have received a 3% account increase since opening my first long position in 2022, through daily interest receivables. The Fundamentals... Turkey has potential. Exports are climbing. The...
You have any hesitation above the chart Have any glitch on the TRYJPY monthlies price chart ? i hope traders can properly indentify my charting glitch ! TRYJPY expectation is rights? TRYJPY will be gone moon ! #TRYJPY Where will be arrived? TRYJPY BULL prive movement prediction ready i believe that . TRYJPY mine own perspective so what's your opinion on the...
Unfortunately the break happened on a Friday. Will be looking to enter this trade next week as I do not want to hold over the weekend in this type of macro environment. First of all in terms of market structure, we had an uptrend with defined and multiple swings. What we look for. Then we stopped making higher lows and began ranging. We thus have seen 2/3 ways of...
TRYJPY - SELL/SHORT TP & STOP LOSS AT THE CHART !
Maybe not the most popular trade idea given what is occurring with Turkey geopolitically, but a good set up nonetheless. Been in a downtrend with multiple waves, and we hit a support/flip zone which can be seen by going further back or on the daily chart. A double bottom indicates a possible exhaustion of the trend as no new lower lows have been made. I am...
Hypothesis: Supercycle year time frame is downtrend Wave 3 Supercycle still in progress Wave 3 Daily should be in progress till end of March or beginning April Wave 5 of Wave 3 would complete the cycle. After this supercycle 3, wave 4 shall commence bull.
The Turkish Lira has been driven by a strong upside momentum against the Japanese Yen since the middle of August, and thus sending the currency pair to the weekly R2 at the 21.94 mark. As apparent on the chart, the pair is testing the upper boundary of the medium-term ascending channel near 22.10. Given that the exchange rate is being supported by the 55– and...
TRY/JPY is currently weak and could potentially break it's bullish support and fall further down. Place your SL above the high of the current consolidation zone. To play it safe, one can simply place a Stop Sell order right below the 50 EMA on the 6H chart or simply the current support line to catch the move as it breaks its current support. I would personally...
This pair has been trading on a very long term 1M Channel Down (RSI = 31.162, MACD = -4.539, Highs/Lows = -2.4883, B/BP = -6.1380) since December 2014. The 1W bullish sequence is approaching the 22.300 - 23.450 Resistance zone, which is a Lower High mark on the monthly Channel Down, hence the most optimal short entry. TP = 11.900. ** If you like our free...
The previous forecast worked, and the TRY/JPY currency pair continued to trade in a short-term ascending channel. As apparent on the chart, the exchange rate is supported by the 55-, 100– and 200-hour SMAs near the 19.80 mark. It is expected that the pair surges towards the resistance cluster formed by a combination of the weekly R3 and the monthly R2 in the...
Clear resistance can be seen and higher lows on the weekly timeframe for TRY/JPY. I forecast a bearish breakout to the downside so wait for confirmation. Hit like if you agree.
Turkish Lira and Japanese Yen dropped a lot recently, and I think a reversal could occur - at least for a short time. Keep an eye out for breakout confirmation in the next few days.
The Turkish Lira has been appreciating against the Japanese Krone since the pair reversed from the 2017/2018 low at 15.63. This movement has been bounded in a medium-term ascending channel. As apparent on the chart, the exchange rate is testing the lower trend line at 18.48. Also, the pair is supported by the 100-period (4H) SMA at 18.27. From the theoretical...
- TRY/JPY - Short - Inv HVF - Traditional entry taken
TRYJPY is on a 1D Channel Down and due to its multi week consolidation (RSI = 47.127, ADX = 17.384, Highs/Lows = 0000) it is near pricing its Lower High. We are short, TP = 21.564.