On August 27th, I "forecasted" EURJPY to close above 137.981. I am still waiting for price to break the horizontal support and resistance level in order to go long. Why? Because there are three higher lows moving into the horizontal resistance level.
Wait for price to close above 137.981. If price closes above 137.981, then watch for bullish price action signals.
ST Trade idea A break to either direction, we do have US data coming in the afternoon that could perhaps shifts gears for yen and we have BOJ's Kuroda will be at Jackson Hole: Joins the confirmed CB list of Bailey and Schnabel. No Lagarde appearance though apparently. Full agenda will be released tomorrow evening. Keep an eye out and alerts at the ready! Best, TJ
Engulfing Candlestick pattern formed on CADJPY currency market chart.
Engulfing Candlestick pattern formed on the Trend Line.
Another Day, Another Opportunity $USDJPY What a week it has been, a lot of great opportunities and this continues to further! As you can see through yen chart - Break out to either direction. Have a great weekend, TJ
After the sharp downward movement, the Dollar/Yen, experiences a price correction to its support range, around 133 to 134.
Pivot Point: 134.3 Currently: Consolidating at this 134.8 level , its next support zone is at 135.1 Reaction: Resisted at 134 and retraced back to 133.8 I just started sharing my daily technical analysis of Metals & Forex Market with my indicators on tradingview~ Wish to receive some feedbacks from you! 😊 Btw you can feel free to use our designed indicators!!!...
This is a forecast for wave 4 of the intermediate wave 5 extension
The US dollar has retreated against its major trading pairs over the past two weeks, but notably, the USDJPY has seen one of the most interesting pullbacks. After peaking on July 14, the USDJPY has fallen more than 4% from a peak just below 139.500. The 2-week weakening streak may continue as the sentiment from the previous FOMC meeting has been conceived as...
The Japanese yen rose to 133 against the dollar ( USD/JPY ), recovering from its 24-year lows. Short-term tailwinds are supporting the yen as the market has repriced Fed interest rate risks to the downside and has already priced in a rate cut in the first half of 2023. The yen is currently doing well in its traditional role as a recession hedge, with the US...
Pivot Point: 138.0 Currently: Consolidating at this 140.0 level , its next support zone is at 141.0 Reaction: Resisted at 137.5 and retraced back to 137.0 I just started sharing my daily technical analysis of Metals & Forex Market with my indicators on tradingview~ Wish to receive some feedbacks from you! 😊 Btw you can feel free to use our designed indicators!!!...
USDJPY Market is bullish. Watch for price actions at the trend line.
The Japanese yen's weakness is obvious across all its pairs, including against the Canadian dollar. The CADJPY has displayed a strong bullish uptrend after its breakout above the 92 price level, on a monthly time frame, and is now facing a historical resistance in which to overcome. Looking at the CADJPY on the chart below, we can see that the price is currently...
First target price for NZDJPY is 83.360.
There's a short trading opportunity for the CHFJPY currency pair as shown by the fakeout demonstrated by the bearish harami candlestick pattern slightly above the 134.650 horizontal resistance level. A reward-to-risk ratio of 5.51 is possible if you get into the trade early enough; stop loss is at 135.523 and take profit at 129.261.