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Joe Gun2Head Trade - AUDJPY correcting?Trade Idea: Selling AUDJPY Reasoning: Start of a C leg lower? Entry Level: 88.91 Take Profit Level : 87.60 Stop Loss : 89.35 Risk/Reward: 3:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
USDJPY Outlook 11 April 2023With the overnight strength of the DXY, the USDJPY climbed steadily to the upside, as the price approached the 134 round number resistance area. Weakness in the Japanese Yen was also compounded by the statement from the new BoJ Governor Ueda, indicating that large scale monetary easing policy will continue. This was in contrary to the market anticipation that Governor Ueda could trim back on easing. While the USDJPY retraces from the resistance level, look for the price to bounce from either the 23.60% fib level which is also the 133 round number level, or more likely at the 132.60 price level which is the 38.20% fib level and the upward trendline providing support. Further upside on the USDJPY could see the price climb steadily toward the 135 key resistance level.
Long
by JinDao_Tai
3-bar bullish reversal on USD/JPYAfter an extended pullback on the USD/JPY daily chart, we think it is time for the pair to revert higher. A bullish divergence formed with the RSI (2) and a bullish pinbar formed on after a failed attempt to break below 130. Being a round number, there's reasonable chance of demand down at that level, and yesterday's up day is part of a 3-day bullish reversal (Morning Star). - The bias remains bullish above Friday's low, although bulls could seek bullish setups on lower timeframes if prices pull back towards Friday's high - or wait for a break of yesterday's high to assume bullish continuation. - An initial target is around the 38.2% Fibonacci ratio / 133 handle - A Second target could be around the monthly pivot / 200-day EMA / 50% retracement level
Long
by CityIndex
USD JPY - FUNDAMENTAL DRIVERSJapanese yen strength over time. While the yen underperformed during the global monetary tightening phase, in our view the currency will likely outperform as tightening cycles eventually come to an end and central banks turn to easing. Yen outperformance over time should also be supported by U.S. recession in H2-2023 as well as recent actions by the Fed, which have made U.S. dollar liquidity more readily available. And while the likelihood of a hawkish Bank of Japan (BoJ) monetary policy shift has perhaps diminished a little, if the global financial sector proves surprisingly resilient, the risk of a further policy adjustment from the BoJ could still reinforce the outlook for yen gains over the medium term as well.
by thunderpips
USD JPY - FUNDAMENTAL DRIVERSWhile the yen underperformed during the global monetary tightening phase, in our view the currency will likely outperform as tightening cycles eventually come to an end and central banks turn to easing. Yen outperformance over time should also be supported by U.S. recession as well as recent actions by the Fed, which have made U.S. dollar liquidity more readily available. And while the likelihood of a hawkish Bank of Japan (BoJ) monetary policy shift has perhaps diminished a little, if the global financial sector proves surprisingly resilient, the risk of a further policy adjustment from the BoJ could still reinforce the outlook for yen gains over the medium term as well.
by thunderpips
USDJPY Outlook 6th April 2023The USDJPY has been trading steadily to the downside, primarily due to the weakness of the DXY. As the USDJPY found the 130.50 price area (78.6% fib level from the longer term) overnight, price rebound slightly but continued to consolidate at the 131.20 price level, with the resistance level at the 131.70 level (38.2% fib level) and the downward trendline possibly capping significant upside potential. Look for the USDJPY to retest the resistance level before trading lower again, with the key support level at the 129.80 price level.
Short
by JinDao_Tai
GBPJPY Long IdeaI want to see price take out yesterdays lows; to collect liquidity (black shaded box) Correlating with market structure I want to see price reject the 15 minute order block (greenish box) and push into the FVG (target1). I see this happening due to the amount of bullish price action within the last day. I believe that this market is trying to entice sell trades, even though market structure hasn't been broken. Thus the long trade being the better move in my opinion. The risk to reward for this trade is minimum 1:3, however if I see a quick move I will be holding the trade further (on the chart its a 1:4) I only risk 1% maximum per trade. Please comment below your thoughts and ideas.
Long
by Charl13Scrutton
Joe Gun2Head Trade - Still below the downtrend on the dailyTrade Idea: Selling EURJPY Reasoning: Still below the downtrend on the daily Entry Level: 144.659 Take Profit Level: 142.39 Stop Loss: 145.42 Risk/Reward: 3.2:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
USDJPY Outlook 3rd April 2023Currently, the price action on the USDJPY indicates the formation of a bullish ascending triangle (in fact as I type this, the price looks to be breaking to the upside, but still need for a confirmation signal) With the price rising on the bullish trendline and the interim resistance level of 133.60, a breakout to the upside could lead to a significant upside on the USDJPY, especially if the strength of the DXY drives it. Although the round number level of 134 could provide brief resistance, the key resistance level of 135 could be a possible target for this potential bullish breakout.
Long
by JinDao_Tai