Yenshort
USDJPY LONG to 104.500After an initially bullish surge on the daily I can see that price retested and rejected the 103.00 - 104.00 region. On the 1 hour timeframe price also created what seems to be an inverse head & shoulders pattern, with price then breaking above minor resistance at 103.655. After a rejection of resistance at 103.860 price seems to be retesting the previously broken resistance at 103.655. I will create a buy limit order on market open to go long with targets at major resistance 104.500.
JPYMYR Jump Over The Cliff| Bearish Signal| 0.03900 PredictionI am at home. Looking to the JPYMYR chart. I have spotted the channel.
This is not a regular channel. This is the 'clash channel'.
Why 'clash channel' is so important to the chart? It is the collision of the demand and supply
between Yen and Ringgit.
Yen has slightly shaken off the momentum as this week. The demand to the Yen has fade bit by bit.
On the other hand, Ringgit has develop the strength from the Malaysian economy which has gain its
momentum through the recover pandemic period despite the political clashes.
Expecting the Yen versus Ringgit will turns to sell off bearish 0.03900 again to test the support.
While in this bearish sentiment and fundamental, JPYMYR is prefer on selling its course for this week.
Other party which wanting the Yen to be weaken, consider your wish is on your favor. Expecting the Yen
low volatility by this week as the week has been reserved for FOMC and NFP.
Thank you.
Regards,
Zezu Zaza
2048
USDJPY LONG UPDATESMALL CHART EDIT \\ UJ finding strong support area of 106.5-106.8. We will be looking for a rejection off the 107.4-107.5 and find support at 107.0-107.1
Price is showing strong bullish engulfing momentum on the higher time frames after recovering from March's lows. We should expect strong fundamentals in the week to come, with no shock to the dollar as we remain flat on interest rates through the year. Markets have seemed to have digested the bias and the dollar wants to show its strength, with pride!
AJ TP Hit: An Easy +200 pips, 1 week, 1 TradeAUD/JPY: +200 pips
This trade has hit our downside targets of 74 and 75. We've now closed the remainder of this position at 74. (+200 pips). Overall, this trade had NO drawdown, and was a great example of the trades we take every week; there's no point when 1 RIGHT position can earn us +5% in one trade while day traders are struggling with their 20 pip daily goal.
01:01:13 (UTC)
Mon Jan 27, 2020