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Yenpairs

USDJPY Head and Shoulders Pattern.Take a look at the USDJPY 4 hour chart. Nice downtrend with multiple waves, and we can see a potential head and shoulders pattern here. Not a textbook head and shoulders, but it shows a possible shift in trends from lower highs to now higher lows. Await for the break above the neckline/resistance/flip zone at the 106.70 zone. Patience. We want a nice and strong break here. Take a look at the yen futures as well. Some confluence if we get that break here.
Long
by Uncharted-FX
NZDJPY and AUDJPY Interesting Bottoming play.The Yen pairs will also benefit from my theory on equities going higher on hopes and promises of more stimulus coming to keep stocks propped up. Both charts are similar and are at very important support levels and are showing signs of trend exhaustion. We are not making anymore lower highs and lower lows. You can say we are perhaps going to make a head and shoulders pattern albeit not a beautiful textbook type. Again, all they show us is a transition of trends. Watching for a break above 69.00 for NZDJPY and 72.55 for AUDJPY. Other Yen pairs also look interesting as well, but I think these two charts look much better although GBPJPY can also be apart of this group.
Long
by Uncharted-FX
AUDJPY Potential Reversal On 2 Hour Chart.We have had a nice downtrend with lower highs and lower lows, and we are approaching a support zone if you zoom out on the daily chart or 4 hour. We bounced at the 71 zone which is a good confluence to our trade. You can see where we are on the chart that we look to be forming a head and shoulders pattern. Also, if we break above the neckline, we also break above the previous swing (lower high) which is significant so await the break of course. Of course if markets do sell off, as most of the equity markets are re-testing their initial break out zones, then the yen may appreciate on risk. So again, be patient and await the break if we get it. If not then there is no set up.
Long
by Uncharted-FX
USDJPY...Yen to be strong during reset?The Yen pairs showed amazing moves the past week...the traditional idea is to run into the Yen as a safe haven. Many claim the Japanese yen will actually out perform the US Dollar when it comes to a safety play during this confidence crisis/reset. Why? Japan still has one of the highest savings rate in the western world. They also have a large manufacturing base. The US is the reserve currency, but most Americans do not have $500 saved up and live pay cheque to pay cheque. The Dollar is not backed by the people's savings. It really is backed by the US military. This move needs to be assessed to determine whether we are getting closer to some sort of economic crisis. If you read my other posts, I have provided reasons on why this is likely. We are moving towards a crisis, it is inevitable. USDJPY broke and closed strongly below a very major support/flip level. Waiting for a pullback to form a lower high before entering.
Short
by Uncharted-FX
1
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BITFINEX:ZECUSDLong
by warrenhochfeld
1