6J1! trade ideas
Potential Japanese Yen Move...Market Pullback?Looking at the Japanese Yen Futures on the 4 hour chart, and we are beginning to see the ending or exhaustion of this downtrend. We are not making anymore more lower highs, and it seems we may be setting up for a first higher low...this will be shown with the head and shoulders pattern we are seeing but awaiting for the trigger.
The Yen generally has a correlation with the equity markets (although I stress this is now always the case...especially in this macro environment where we are seeing a disconnect as funds and investors need to chase yield with the stock market being the only place to do so).
Some yen pairs that I have been watching have already triggered like AUDJPY, EURJPY, and TRYJPY.
USDJPY is looking prime:
THE BEAST ANALYSIS + Other Pairs Overview Dear traders,
Getting ready for the next week battle :
in this video i'm sharing my charting for DXY and other pairs
My impression is that The Dollar is very Bullish but located @ Supply zone ( that been pierced tested many times now deeper into the zone )
the zone is @ D Completion of Bearish Gartley Pattern !!!! Watch it closely because right on top of it we have a Bearish shark pattern waiting @ 98.28- 9854 @ MLSR
Other currency pairs overview to find out in the video
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Thank you.
courage.
#Yen weekly chart update ! The futures chart suggests we are very close to be breaking out of a 4 year consolidation ( in this case barrier triangle ) in the price of Yen. This move should last aprox 2 years ( i am looking for wave equality of C vs A) , which looking at the macro global picture means that we should be getting ready for a period of strong risk averse sentiment , turbulent equity markets and overall defense style approaches. The catalyst for this remains to be seen, but the charts are telling you this before it happens. Buckle up !!
Yen 0.382 pullbackYen futures has completed a 0.382 pullback from it's recent impulse wave. Will be looking to go long once the EMAs and MACD are bullish on the 4 hourly chart
Yen futures breakdown and retest scenarioIt appears that the yen has completed a 50% correction of the previous impulse down move. I am waiting for a breakdown through current support levels so that the MA's and MACD will turn bearish and then place a short order at this support turned resistance level.
Yen consolidation tells it allThis is why I believe that the USDJPY will continue Bullish. Investors at this time are optimistic about the US-China trade deal so the price of the Yen is at a low price equilibrium. Momentum and MAs all are indicating that bearish momentum will be here for a while. The only thing that could change this sentiment is the US President and Chinese Officials derailing the phase 1 deal.
Current market sentiment - contraction bearish
LONG - ABC correction finishedThe ABC correction could have been completed, now a movement of 1 to 5 is expected in search of new highs.
SPX near maxiums
JPY Futures Index - Trend Change in Yen CrossesJPY Futures chart shows the Yen is currently oversold, broke below falling wedge, approaching strong trend-line and horizontal support.
Watch for trend reversals across all JPY crosses. (Individual charts for Yen crosses show many pairs approaching Daily resistance zones)
Yen crosses tend to produce decent trend trade opportunities. The large impulsive move in August, shown on the chart, is a perfect example (Sudden shift to Risk Off sentiment, as S&P saw a sharp selloff) . AUD NZD CAD and even GBP (Risk currencies) would provide good short opportunities in a similar situation.
Higher time-frame charts show JPY trending higher, allowing us to trade with trend.
H1 short trade taken.Price bouncing off of M-W-D supply. Saw 2 big bearish candles on D1. Drilled down to H1 and placed trade at fresh level. Set take profit at 2:1.
JPY - Possible trend change for JPY pairsJPY Futures have recently run in to strong resistance. Last few days of price action indicate a pre-breakout squeeze to the downside.
Watching for trend change in JPY pairs...
Japanese Yen LongsSafe haven yen is seeing some serious demand in a hurry indicating for any reason or another global uncertainty is picking up momentum. for big firms the yen is a 'safer' haven than is gold.
Yen futures W1, tracking supply and demandYen futures broken weekly triangle. Buyers were found at the ~0.00895 demand zone, with gaps up on the way. Expecting some potential pullback but aiming for supply zone at ~0.01 or the main impulse zone of the previous higher high. DXY down, we are risk off, with money being flooded into the safe haven currencies.
Yen bull flagJapanese yen considered one of the safe havens in the fx market despite having a negative interest rate. This past week the yen has lost attraction due to risk sentiment being softer and commodities gaining traction. The Week ended in a spinning top , rejecting the 61.8 retracement but also ended the last day of the week in bullish posture. The next daily candle should confirm the direction of the yen for this week as GDP QoQ and current account take the headlines on the economic calendar. Upside tested by $.009290 (1M 38.2% retracement- $.009340 (1W 200ema/1M 50ema - $.009370 (1W 76.4% retracement)- $.009500 ( 1M 61.8% retracement/December 18' High).
As of 6-4-19 Large specs have decreased net shorts by 11.2k
Is it time to buy against the yen is it time to sell my jen now ah big drop is expected pretty soon we just reacted from the 88.6 !!!!! everything is align nicely will see what happens
Expecting Yen weakness before it gets strong againToo many people are buying the yen when its at an All time high,... Suckers.
Please give your accounts away, poor brokers need to buy a new yacht.
JPY Future small move up with baseJPY braking long downtrend and already break small base to the top. Now it the first test of previous base, if buy volume still strong it will bound and continue clime up. Always trade with risk management.
