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EURJPY LONG IDEAJune price action has printed new highs and has now exhausted back to retest the previous high as support. We can clearly identify here the beginning of a small trend change from bearish to bullish. Current confluences reinforcing a long bias are the new high higher high, bullish trend change, potential inverted head and shoulders pattern, support rejected, Daily time frame bullish engulfing candle / morning star followed by a weekly time frame low test. A valid exhaustion back into the proposed new higher low level will create the long zone.
Long
by THE_GOLDEN_SUITE
1
CHFJPY, the Perfect Setup, How I Made Almost $1 MillionCHFJPY has been a pair that I have found a lot of opportunities to win with. The formations of harmonic patterns, the retrace, the RSAI strategy the Fib speed fan, and the Ichimoku cloud... I have combined all of these along with other indicators to create my system of trading. The graph shows the two bullish harmonics along with my targets in green lines. These targets I set sometimes are up for months before they hit. This allows me to have a goal in mind (Since they are 99% accurate) So when I enter a trade I know the true potential for pips gained. I use stops that are no larger than 35 pips and now smaller than 25 pips. This has been a winning combo for me from $3k to $740k in profit. My ratio is between 6 and 100, yes 100! Because of my ratios being so high I am able to trade at a Sharpe Ratio as high as 11 and can be only 20% winning trades and still be very profitable. These ratios help me to keep losses small and gains astronomically bigger. In the pattern here we can see the .618 on the first bullish harmonic hitting then it goes down past stop to (-.618). That is where you place you r buy order. This price action creates another bullish harmonic and then goes 300 pips. It is not rocket science but feels like rocket science when my trades gain 100s of pips! FO' SHO! The Fib Speed Fan broke 382 level and this was my 3 rd signal to get in. I was maxed out in 9 positions elsewhere in the market so I did not take the CHFJPY trade but some students were able to catch it. One of them made 122% last week alone. These kinds of opportunities are everywhere. If you have questions write to me and I will help you out. Good luck this week, Happy Father's Day, and Happy trading.
by TruthakaWallStreetakaCookie
4
AUDJPY RESISTANCEPrevious highs have been rejected creating the sell off pressure after the bull run we witnesses across the board due to a weak YEN. The 4 hour time frame is now in the exhaustion phase retesting the 4 hour time frame 50EMA and horizontal resistance. A 10am 4 hour evening star candle close will be a valid rejection however we do not enter trades off of the 4 hour time frame we much prefer to achieve a tighter entry with a tighter stop loss. Therefore we can head down to the 1 hour or even 15 minute time frame for entry once price exhausts after the "potential" 10am bear close for the 4 hour. Next chart check in for AJ will be at 10am.
Short
by THE_GOLDEN_SUITE
1
CHFJPY- Short Idea Hello Traders, Hope you are having a profitable week. Earlier this week we anticipated a short for most yen pairs preceding the news that is expected to be released by the Bank of Japan this Friday during the Asian session. We are anticipating a further drop in most Yen pairs this week of about 1000 pips or more. We had our entries from a great level and continued to scale in our position further to capitalize on the drop. looking forward to see how this trade plays out. Let us have an amazing week ahead ! God Bless, ETGL Team <3
by Eleventgl
CADJPY climbing towards historical resistanceThe 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 at the supply area based on the Supply and Demand indicator and has a strong resistance at 103.381. Historically, the price has rejected at that price level and moved back lower to the decade-long demand zone at around 74.580. Traders are on the lookout right now at this strong monthly supply zone as this could be a good opportunity to take an upside position for a breakout or take a sell to the downside if it rejects at the supply zone. If an upside break does occur, will the CADJPY continue all the way to the next supply zone starting at 115.530? The possibility of this might be dependent on the fundamental factors, including whether Japanese authorities intervene in the currency market. Fundamental note The Bank of Japan has vowed to maintain its ultra accommodative policy, in stark contrast to the actions taken by other major central banks. As a result of bank’s inaction, it will be up to the Ministry of Finance to intervene in the currency market if the JPY continues its rapid depreciation.
by BlackBull_Markets
USDJPY: Profit on correction?!USDJPY Intraday - We look to Buy at 126.05 (stop at 125.50) Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. Bespoke support is located at 126.00. Price action continues to gravitate towards crucial support levels with aggressive selling interest. Support could prove difficult to breakdown. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. A higher correction is expected Our profit targets will be 127.49 and 127.75 Resistance: 127.50 / 128.85 / 129.60 Support: 126.00 / 125.00 / 124.00 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . 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 Signal Centre.
Long
by VantageMarkets
Do technicals point to more downside for GBPJPY?This most recent week, we saw GBP/JPY following the same bearish direction as the previous three weeks, with its strongest impulse happening during Wednesday's New York session. When looking at the weekly time frame, this pair has been in an uptrend. However, it is fast approaching a breakout of this upwards trendline, which has held prices up for the past couple of years. Technically we can look at the hourly chart and see the adherence the price showed to the Fibonacci and Exponential Moving Average. Looking at the most recent hourly range, we see GBPJPY retrace above the week's opening price during Monday's New York session to the 61.8 level. In that area is the EMA indicating another confluence for a move down. Price didn’t return to that area, with only two other weak retracements shown before the sell-off. Fundamentally speaking, there were no high impact news events for either currency last week. However, the UK has had its hands full with several factors. Brexit issues with Ireland continue, and numbers show the economy shrank at the end of March. Factor in that the Japanese Yen is typically seen as a safe haven, and the bearishness in this pair isn't too surprising. The coming week for GBPJPY Looking ahead at this upcoming week, it is full of news events for the GBP, with monetary policy report hearings happening Monday. This is followed by unemployment, CPI numbers, and retail sales later in the week. Of course, the most critical report is CPI, which I released on Wednesday. UK's CPI for April is expected to rise two percentage points to 9%, from 7% in March. The significant economic report from Japan is released at the end of the week. Japan's April CPI is released on Friday, and the market consensus is that it will rise to 1.5% from 1.2% in the previous reading.
by BlackBull_Markets
AUDJPY: Bullish recovery?AUDJPY Intraday - We look to Buy a break of 91.00 (stop at 90.10) Previous support located at 90.00. Previous resistance located at 91.00. Price action looks to be forming a bottom. A move through 91.00 will confirm the bullish momentum. Our profit targets will be 93.00 and 93.25 Resistance: 91.00 / 91.50 / 93.00 Support: 90.00 / 89.75 / 89.50 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . 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 Signal Centre.
Long
by VantageMarkets
Elliott Wave Intraday Analysis: GBPJPY Confirms Top In PlaceHello traders! Today we we will talk about GBPJPY and XXXJPY pairs in general, in which we see pretty interesting price action and clear wave structure. As you can see most of XXX/JPY pairs are turning sharply down and the main reason is a recovery on 10Y US treasury notes. We decided to share GBPJPY chart that is turning sharply and impulsively down, clearly within a five-wave bearish cycle which in Elliott Wave theory suggests a top, at least temporary one. Five-wave cycle from the highs can be actually approaching the end and this is barely first leg A/1 from the highs. In Elliott Wave theory, after every five waves, we can expect an a-b-c pullback, so be aware of bounce and recovery around important Fibonacci cluster target area and 160.0 psychological level. If that will be the case, then this would be an indication for an Elliott wave a-b-c corrective rally into a wave B/2 that can retest 163-165 resistance area before we will see a bearish continuation for wave C/3. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
1
Will the yen hit 150 against the greenback?The Japanese yen fell to a seven-year low of 125 against the US dollar on Monday as the Bank of Japan continued easing its monetary policy further widening the gap with the US Federal Reserve’s hawkish tone. But instead of seeing it as a threat to the Japanese economy, the BOJ reiterated that a weaker yen would have positive effects on pushing Japan’s GDP higher. BOJ’s divergence from Fed The US central bank recently raised interest rates for the first time since 2018 and signalled more rate hikes in the coming months to tame rising inflation. The US consumer inflation rate skyrocketed to a four-year high of 7.9% in February, prompting the Fed to take a more hawkish stance despite the lingering COVID-19 pandemic and geopolitical uncertainties. Conversely, the BOJ continued to loosen its monetary policy, reiterating that it would maintain interest rates at ultra-low levels to support Japan’s economic recovery and as inflation stays below its 2% target. The central bank also offered to purchase an unlimited amount of government bonds from Monday through Thursday this week at 0.25%. The offer is for debts with maturities of more than five years and up to 10 years. The move is one of the BOJ’s attempts to contain rising bond yields despite US Treasury yields reaching new multi-year highs. Adding pressure to the yen The measure further weighed on the yen on Monday, with economists from ING Bank expecting upside risks to prevail beyond 125. They said "130 is well within reach in the near term unless the bond environment improves.” A depreciation in the Japanese yen would drive up the costs of imports, ultimately hurting households as it would increase the costs of imported goods and other goods for consumption. It also pushed Japan’s core inflation to a two-year high of 0.8% in March, quicker than market forecasts. Preference for a weaker currency While many economies beef up efforts to boost the value of their currencies, Japan has been aiming to devalue its currency to gain a competitive advantage in foreign trade. A weak yen will make Japan-made goods more competitive overseas and increase profits that Japanese companies make in foreign markets. It would also lift services exports and increase net income receipts from abroad when converted into yen. Back in January, the BOJ estimated that a 10% drop in the yen would boost Japan’s gross domestic product by about 1%. In the final months of 2021, Japan’s GDP rose 4.6% year over year, lower than its previous forecast for a 5.4% rise. Fitch Ratings expects Japan’s inflation at 1.8% this year on the back of higher energy prices and yen depreciation. Preventing another 1998 yen volatility As the yen continues to fall against the greenback, the markets are closely watching for a recurrence of a wild rebound that occurred in the USDJPY in 1998 at the height of the Asian financial crisis. At the time, the US dollar fell by almost 15% versus the yen from its previous peak. That slump was preceded by a three-year yen depreciation as Japanese authorities believed the yen was overvalued. Will the yen hit 150 against the greenback? The question of whether the yen will reach 150 versus the US dollar is more of a when as the Fed maintains its hawkish stance and as the BOJ is poised to keep its loose monetary policy setting in the medium term. This would further widen the gap between their policies, sending the yen lower as Japan continues to book current account deficits due to a jump in oil import prices.
by BlackBull_Markets