Get started

Usdjpydaiy

USDJPY I Impulse correction and continuationWelcome back! Let me know your thoughts in the comments! ** USDJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
USDJPY - CURRENT SENTIMENT , FUNDAMENTAL BIAS- UNEMPLOYMENT CLAIMS DATA is due to be released today for the US dollar. PHILLY FED MANUFACTURING INDEX DATA will also be released. And there's another important EVENT FED CHAIR POWELL SPEAK today. It will definitely be the strongest NEWS for USD. According to the MARKET SENTIMENT, a DEMAND can still come to USDJPY. - JPY FEATURE is currently on the rise. The main reason for this is that the MARKET SENTIMENT is RISK OFF. But JPY MARKET is now CORRECTION and we see the nature of it. JPY FEATURE stands at 0.00782 LEVEL. According to the JPY ECONOMIC PROJECTION, JPY can be WEAK in the future as well. But if the MARKETS RISK continues to be ON, the USDJPY price may go up further. USDJPY stands above DYNAMIC LEVELS. - Currently the OVERALL MARKET is RISK ON. Also the STOKES are turning a bit GREEN. COMMODITIES gives us a slightly MIXED RISK TONE. So I'm a bit reluctant to be a HIGH BEATA CURRENCIES BUY. Anyway VIX is getting a bit DOWN right now. Also BONDS PRICES show a slightly NEUTRAL BIAS. But BONDS SPREADS are getting GREEN. MARKET currently has a MARKET ENVIRONMENT with a NEUTRAL BIAS close to RISK ON. - USDJPY PRICE can be REJECT from 131.86 LEVEL. For VOLATILITY UP, and JPY FEATURE UP. Due to the FEAD CHAIRMAN's SPEECH coming today, the impact on USD could be huge. - Before the USDJPY PRICE goes to 131.868 LEVEL maybe a RETRACEMENT will come to 124.180 LEVEL. However, if the TREND LINE is BREAK, the USDJPY price may fall to 121.269 LEVEL.
by benny_marshall