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EURJPY: Consolidation & Complete Indecision 🇪🇺🇯🇵 EURJPY is currently trading within a narrow horizontal range on a daily. Depending on the side of a breakout, I see 2 potential scenarios. Bullish Scenario If the price breaks and closes above 159.5 resistance on a daliy, I will expect a bullish movement at least to 160.5 level. Bearish Scenario If the market violates 157.4 support and closes below that, a bearish movement will be anticipated to 156.1 level. As always, breakout is the best confirmation, so wait patiently for that. ❤️Please, support my work with like, thank you!❤️
by VasilyTrader
5
USDJPY H4 | Falling to 78.6% Fibo projectionUSDJPY is falling towards the buy entry at 145.073 which is an overlap support that aligns with the 78.6% Fibonacci projection level and could potentially reverse from here to bounce higher. Stop loss is at 143.734 which is a pullback support level that sits below the 50.0% Fibonacci retracement level. Take profit is between 143.300 and 146.560 which is a swing-high resistance. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Name of third party provider. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): ** Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com FXCM Markets LLC (www.fxcm.com): Losses can exceed deposits.
Long
by FXCM
USDJPY H4 | Falling to 78.6% Fibo projectionUSDJPY is falling towards the buy entry at 145.073 which is an overlap support that aligns with the 78.6% Fibonacci projection level and could potentially reverse from here to bounce higher. Stop loss is at 143.734 which is a pullback support level that sits below the 50.0% Fibonacci retracement level. Take profit is at 146.560 which is a swing-high resistance. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Name of third party provider. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): ** Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com FXCM Markets LLC (www.fxcm.com): Losses can exceed deposits.
Long
by FXCM
Gold, Yen, Dollar to Hang on Powell's Words at Jackson Hole With treasury yields hovering close to their highest point in the past 15 years, attention is squarely focused on the forthcoming policy speech by Fed Chair Jay Powell this Friday at the Jackson Hole event. The primary interest lies in gauging the current level of hawkishness exhibited by the Federal Reserve. Anticipations are that Fed Chair Jay Powell will reiterate the sentiment expressed during the July policy meeting, emphasizing the persistence of elevated inflation and the Fed's unwavering commitment to restoring inflation to the central bank's targeted 2%. Naturally, the subtleties within his communication will hold the real significance. Will his indications suggest that the Fed draws encouragement from the recent series of more moderate inflation metrics, potentially signaling an upcoming prolonged pause in the Fed's actions? Alternatively, will he lay the groundwork for another one or even two additional interest rate hikes? The latter scenario could potentially result in a further strengthening of the US dollar and the continued weakness of gold. XAU/USD finds itself trading below all its moving averages, with the 200-day Simple Moving Average consistently rebuffing any attempts at upward advancement. Two currencies that warrant close observation for potential intervention are the Japanese yen and the Chinese yuan. Market analysts presently perceive the intervention threshold for the yen to be around 150 against the dollar, while indications point to ongoing intervention efforts concerning the yuan. According to Reuters, state-owned Chinese banks were observed actively supporting the offshore yuan on Monday.
BLACKBULL:XAUUSD
by BlackBull_Markets
CHFJPY H4 | Falling to 23.6% Fibo supportCHFJPY is falling towards the buy entry at 165.402 which is an overlap support that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here to bounce higher. Stop loss is at 163.980 which is an overlap support that sits under the 50.0% Fibonacci retracement level. Take profit is between 166.30 and 166.70 which is an over resistance that lies under the 100% Fibonacci projection level. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Name of third party provider. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): ** Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com FXCM Markets LLC (www.fxcm.com): Losses can exceed deposits.
Long
by FXCM
Intervention - Fatal Flaw in Capital Markets?In the news today is the Japanese Yen, as it approaches critical resistance at the 146 level. The market has steadily been making new highs on the daily level this year, having just exceeded the July high. As seen in the chart above the market has moved quickly through levels of resistance, now breaking a downtrend line from the major Oct 22' high. See below a quarterly chart, the Yen is making new highs at significant timescales, possibly threatening a breakout as the historical ceiling is much higher than the modern perception might lead one to believe. The need for intervention around the current price level has become a concern for the global investment community, since in September and October the Bank of Japan proceeded with heavy selling of US Dollars to support their currency at the 145 level. This was last reached in 1998, at the height of the infamous Nikkei bubble as equity market growth produced historic inflation. However there was no need, or thought for intervention then which begs the question of why it is seen as a necessity now. This is largely due to the degradation of credit markets around the globe, and the inability of central banks to produce productive inflation, meaning real economic growth. In 1998 the yield for a 10 year bond was around 2%, whereas outside the US negative interest rates have become common. See below as the yield for 10-year Japanese Government bonds has pushed against, and exceeded the imposed 'ceiling' since moving from negative interest rates. The attempts by central banks to "stimulate" investment by lowering bond yields has in fact had the opposite effect, since investors will naturally seek the highest return on investment . In the modern economyc, bonds and government credit are treated as cash, so as central banks buy sovereign debt they are absorbing and concentrating capital which historically has circulated globally across currency and asset classes. This has the effect of domestically creating deflation, as capital is less free to circulate, but internationally will create inflation as (in this case) investors are not buying Yen-denominated debt , leading to the Yen losing strength in FX-markets. So the level at which intervention is required to support currencies is slowly being drawn lower, as the Bank of Japan burns the candle at both ends. It is NOT possible in globalised, open markets to engage in both bond market and FX market intervention as one or the other must reflect the degradation of economic conditions. This issue cannot be resolved domestically as international capital dictates growth, and lowering yields is not a means to attract investment. The Bank of Japan has resolved to loosen control on bond markets, by allowing 10- year yields to settle on a market-determined fair price. However, price discovery has not been a relevant dynamic in credit markets for nearly 30 years. With FX already at critical levels, it is important to be wary of volatility as capital flows shift with respect to war, credit and equity bubbles around the world and so on. Europe and China, among others should also be under the radar for engaging in this flawed logic without international support for their currency. So long as the United States, backed by foreign reserves of US dollars, pushes the bill on interest rates this intense pressure will continue to be reflected in global financial markets.
Long
by FPS_Denny
2
Will the BoJ intervene...The USDJPY trades with choppy price action between the 145 and 146 price range. With increasing comments about the weakness of the Yen and the possible invention from the BoJ, the longer the USDJPY stays at this price level, the higher chance we are likely to see an intervention. However, we cannot rule out a continuation of the upside, especially if the DXY recovers in strength. I would avoid further trades to the upside, and wait for possible counter trend reversal. But speculative counter-trends setups have a higher likelihood of failing (the trend is your friend)
Short
by JinDao_Tai
2
GBPJPY: Key Levels & Technical Outlook 🇬🇧🇯🇵 Here is my latest structure analysis for GBPJPY. Resistance 1: 183.77 - 184.25 area Support 1: 181.10 - 181.30 area Support 2: 180.44 - 180.71 area Support 3: 176.30 - 177.05 area The market is currently approaching the Resistance 1 based on the year's high. Its bullish breakout - daily candle close above will push the prices much higher. Alternatively, a bearish breakout of Support 1 may trigger a correctional movement. ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
9
Yen's Resilience Challenged: What's Next for USD/JPY? The Yen's struggle against the US Dollar persists this week, as the USDJPY settles above 143.00 and reaches a new high for the third consecutive day. After some sideways trading, traders are now resuming a bullish push aimed at reaching the recent high of 143.9000, followed by potential targets at 144.00 and 145.050. Last week, the Bank of Japan (BoJ) surprised the markets by making a slight adjustment to the Yield Curve Control (YCC) policy. While this adjustment might have been relatively small, it has kept market participants alert to the possibility of FX intervention if the Yen continues to weaken. In this context, the 50-day MA at 141.430 could offer immediate support. The most significant event to watch on the calendar is tomorrow's US Consumer Price Index (CPI) release. A CPI figure lower than anticipated could put pressure on the USD/JPY pair, whereas a higher reading could renew interest in levels above 145.000. However, the potential for BoJ intervention remains a concern for traders operating above this threshold.
by BlackBull_Markets
GBPJPY: Breakout, Retest, Down...In my recent ideas I’ve noted JPY strength resuming and this is evident in the performance last week, and we can see this when looking at the JPYWCU chart which is like DXY for the Yen. We can see what could be a higher low forming and a fourth retest of the resistance around 0.005350 which could break. We’ve seen out-performance of the Yen against many crosses in the past week, which has generated good pips, it’s too early to suggest a strong recovery (especially as BoJ clearly want a weaker currency to support exports), however they have an economy that when recessions start to hit, I believe they’ll fair better. All crosses against yens are at their high points, this doesn’t mean they can’t go higher, but money flows and I believe the shift is starting. I’m expecting GBP weakness over the coming weeks due to high inflation and massive threat of recession, and definitely this week against the Yen, so looking for shorts around 181.4. First target will be 167 area.
Short
by Finchcliffe
UJSunday Session We watched from last week that the market has played out in such a way that NFP was a needed element to the movement. We saw the double sword of the results of NFP, one because they was too much excitement but also because the actual to the predicted varied very much. We are bullish in our forecast and that won't change anytime soon unless we get other confirmations. Daily we see a very big bearish flag which is signalling our bull trend. 4H, we see a bearish indication but looking at the bigger movement we now see that it is part of the play and we need to be more patient for the trade we actually want. 1H, a break of many structure downwards as we had 3 last channels broken to go to the downside.
Long
by Mhangwane1
USD/JPY: Fundamental Economic Analysis for Fri 8/4/23The recent decline in the value of the Japanese yen against the US dollar was halted at around 142.5 to the dollar as investors continued to assess the impact of the Bank of Japan's policy adjustment after it loosened its grip on interest rates and allowed the yield on 10-year Japanese government bonds to climb above the upper limit of 0.5%. Recently, the Bank of Japan allowed the yield on 10-year Japanese government bonds to go over the previous maximum of 0.5%. The Bank of Japan (BOJ) did not change its policy interest rates at its July meeting but did take steps toward more adaptable yield curve management. This was seen as a warning that it would not rigidly uphold the 0.5% maximum limit on the 10-year yield. If the Bank of Japan (BOJ) were to take an unexpected step for the first time since Governor Kazuo Ueda assumed office, it would likely promote wagering on the continuation of policy normalization. For months, investors have speculated that Japan's central bank, the only major one to adopt a dovish stance, could cave in the face of mounting pressure on the country's bond yields and currency from persistent inflation and rising global interest rates. Rising global interest rates have put pressure on Japanese yen and bond yields, leading to this conjecture. Following a credit rating downgrade in the United States and a major run-up in rates on United States Treasury securities, a wave of risk-off emotion swept through the market, sending the Nikkei 225 Index and the wider Topix Index down by week's end. Both the Nikkei 225 and the Topix Index rose on Friday, with the former ending the day at 32,193.3 and the latter at 2,275. Investors kept an eye on the yen and JGB rates while the Bank of Japan convened the previous week and made adjustments to the policy that governs the yield curve. Major components of the Nikkei 225 index posted gains on Friday, including Nippon Yusen (3.1%), Toyota Motor (1.3%), Mitsubishi UFJ (1.8%), SoftBank Group (0.7%), and Nippon Steel (1%). Meanwhile, despite reporting higher sales and operating profit for the second quarter, Nintendo's stock fell 2.9%. Sales at Keyence were down 0.4%, at Renesas Electronics they were down 4%, and at Fast Retailing they were down 0.3%. Following a credit rating downgrade in the United States and a major run-up in rates on United States Treasury securities, a wave of risk-off emotion swept through the market, sending the Nikkei 225 Index and the wider Topix Index down by week's end. Both the Nikkei 225 and the Topix Index rose on Friday, with the former ending the day at 32,193.3 and the latter at 2,275. Investors kept an eye on the yen and JGB rates while the Bank of Japan convened the previous week and made adjustments to the policy that governs the yield curve. Major components of the Nikkei 225 index posted gains on Friday, including Nippon Yusen (3.1%), Toyota Motor (1.3%), Mitsubishi UFJ (1.8%), SoftBank Group (0.7%), and Nippon Steel (1%). Meanwhile, despite reporting higher sales and operating profit for the second quarter, Nintendo's stock fell 2.9%. Sales at Keyence were down 0.4%, at Renesas Electronics they were down 4%, and at Fast Retailing they were down 0.3%. The final June Au Jibun Bank Japan Services PMI reading was 54.0, up from the flash print of 53.9. The indicator stood at 53.8 in July of 2023. Despite the services sector expanding for 11 straight months, the most recent figure was the worst since January. This was because new orders grew at their slowest pace in six months, while employment fell after rising for five months straight. For the first time in a year, the total amount of outstanding business fell, with the rate of fall being modest but the fastest seen since April 2022. The quantity of unpaid invoices has dropped for the first time ever. Meanwhile, demand from outside rose at one of the fastest rates recorded during the period, reflecting sustained overseas demand for travel and tourism. For the first time in three months, inflation had a role in driving up operational costs. Energy, fuel, raw materials, and wages might all have played a role in this increase. In conclusion, confidence did not decrease; nevertheless, optimism did fall to its lowest position in five months. The article cites Markit Economics as its reference. Final June 2023 Au Jibun Bank Japan Manufacturing PMI reading of 49.8 was below July 2023's revised reading of 49.6. The initial July 2023 flash reading was 49.4, however this was amended up to 49.6. Even while output and new orders have both been falling by small amounts, the most recent report indicated that industrial activity has contracted for the sixth time this year. For the sixth time since the new year began, manufacturing output fell. This was the slowest monthly decline in international sales in the previous nine months, despite the fact that international sales had dropped for the seventeenth straight month. The labor force has increased for the 28th consecutive month, and although job queues have been shrinking for the last 10 months, the pace of decline has slowed to its lowest point since October 2022. The current contractionary cycle was also stretched by one year due to the volume of purchases. The cost side had some of the smaller rises in input prices since February 2021, and the overall increase was about in line with the long-term average for the series. While the overall inflation rate remained high, the charged-price inflation was constant after hitting a 21-month low in June. With higher hopes for further demand improvement and the launch of novel new items, confidence is at its best point in the previous year and a half. The reference is to markit economics. ( The Au Jibun Bank Japan Manufacturing PMI is compiled by S&P Global from monthly survey responses from purchasing managers at a panel of more than 400 companies. The Japanese location of these buying managers. The flagship statistic is the Purchasing Managers' Index (PMI), which is a weighted average of the following five indices. Here are the relevant measurements: Incoming Orders (30%), Production (25%), Staffing (20%), Vendor Turnaround (15%), and Inventory (10%). The Suppliers' Delivery Times Index is inverted to make the PMI calculation easier. Because of this, its movements will be in sync with the other indexes. (The index may take on values between 0 and 100; any value over 50 implies expansion over the prior month, while any value below 50 suggests contraction.) In June 2023, Japan's unemployment rate declined to 2.5% from 2.6% in the previous month, which was in accordance with predictions made by market experts. The unemployment rate fell to its lowest level since January, with the number of unemployed falling to 1.73 million and the number of employed rising by 191,000 to 67.55 million. A total of 69.27 million Americans are now actively engaged in the labor force, up by 144,000 from a year ago, while the number of individuals not working fell by 60,000 to 40.98 million. The percentage of the population actively looking for work rose to 63.1% in June from 63.0% in the same month a year ago. The impact of seasons on this growth is unknown. The unemployment rate was 2.6% a year ago when we last checked. Meanwhile, in June, there were 1.30 job openings for every 1.31 job seekers, a decrease from May's 1.31 to 1.30. Since July of 2022, this is the lowest it has been. Initially, this information came from the Ministry of Internal Affairs and Communications. ( The spot exchange rate indicates the current value of one currency, in this case the US Dollar (USD), in reference to another, in this case the Japanese Yen (JPY). As opposed to the USDJPY forward rate, which is quoted and exchanged on the same day but delivered and paid for at a later date, the USDJPY spot exchange rate is quoted and exchanged on the same day. ) Taylor Norboge wrote and published this article on August 4, 2023 at 13:46 UTC.
Short
by TayFx
2