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EUR/JPY Rolling Spot Futures

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RSEY1! trade ideas

YEN: The Knight in Shining Armor ArrivesThe Japanese Yen is in uncharted territory with the Dollar absolutely POUNDING the Yen into submission. Today was the first time since June 1998 that the Bank of Japan announced it would purchase Yen in an attempt to slow down the depreciation of the Yen. Nobody gives a damn about Forex, so why is this important? Well 1) Yen makes up the second largest weighting in DXY 2) June 1998 marked a temporary top in DXY . Will history repeat itself? I'm not convinced. Yet. 1) Yen is going to have to confirm its monthly hammer 2) Yen is going to need to see some bullish continuation back above the .618 fib and hold it as support. There's a high volume node right at the .618 fib, so it'll be tough resistance to overcome. If these conditions are met, that should send the Yen spiraling upwards like it did in 1998, and mark a temporary top in the DXY allowing some breathing room for stocks, cryptos, and metals. Will the Yen save millions of portfolios? Hmm...
CME:6J1!
by CrashWhen
JAPANESE YEN Futures (6J1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 0.0071705 Pivot: 0.0070675 Support : 0.0069015 Preferred Case: On the H4, with price moving along the ascending trendline and RSI is showing an ascending trendline, we have a bullish bias that price may rise from the pivot at 0.0070675 where the 23.6% fibonacci retracement is to the 1st resistance at 0.0071705 where the 38.2% fibonacci retracement is. Alternative scenario: Alternatively, price could drop to the 1st support at 0.0069015 where the swing low support is. Fundamentals: The DXY is droppind, combined with the positive BSI manufacturing index and PPI Y/Y, we would hold a bullish bias.
CME:6J1!Long
by Genesiv
JAPANESE YEN FUTURES (6J1!), H4 Potential for Bearish Drop Type : Bearish Drop Resistance : 0.0072125 Pivot: 0.0070865 Support : 0.0070165 Preferred Case: On the H4, with price moving below the ichimoku indicator, and within the descending trendline, we have a bearish bias that price will drop from pivot at 0.0070865 where the current price and 78.6% fibonacci projection are to the 1st support at 0.0070165 where the 100% fibonacci projection is. Alternative scenario: Alternatively, price could rise to 1st resistance at 0.0072125 where the previous swing lows and 23.6% fibonacci retracement are. Fundamentals: Japan's Average Cash Earnings y/y and Household Spending y/y are out today, both of them are lower than the forecast.
CME:6J1!Short
by Genesiv
6J1! - Time To Get Very Long Yen6j1! having a nice little bounce here at support to pop back above the 20 year low also a 1:0.618 long term fib extension just below. This has already had the fear test plunge followed by rocketing automatic rally and now has pulled back to the 20 year low again. May meander, may pump - who knows really but this is the big one mark my non financial advice words. My pick for a FX pair is USDJPY because I think DXY has also hit a major top. Idea linked below. Not advice.
CME:6J1!Long
by dRends35
4
Japanese Yen Futures (6J1!), H4 Potential for Bearish DropType : Bullish Rise Resistance : 0.0074025 Pivot: 0.0073045 Support : 0.0072360 Preferred Case: with the price moving within the descending trendline and crossing below the MA, we have a bearish bias that the price may drop to the pivot at 0.0073045, where the previous swing low is. If the pivot is broken, we can expect the price drop to the 1st support at 0.0072360, where the swing low is. Alternative scenario: Alternatively, the price may break the descending tren and rise to the 1st resistance at 0.0074025, where the overlap resistance and 61.8% fibonacci retracement are. Fundamentals: The Tokyo Core CPI y/y is out today, which is at 2.6%, higher than the expectation, which is good for JPY, therefore, from fundamental view, please take note there's also a possibility that the JPY future may increase.
CME:6J1!
by Tickmill
Japanese Yen Futures (6J1!), H4 Potential for Bearish DropType : Bullish Rise Resistance : 0.0074025 Pivot: 0.0073045 Support : 0.0072360 Preferred Case: with the price moving within the descending trendline and crossing below the MA, we have a bearish bias that the price may drop to the pivot at 0.0073045, where the previous swing low is. If the pivot is broken, we can expect the price drop to the 1st support at 0.0072360, where the swing low is. Alternative scenario: Alternatively, the price may break the descending tren and rise to the 1st resistance at 0.0074025, where the overlap resistance and 61.8% fibonacci retracement are. Fundamentals: The Tokyo Core CPI y/y is out today, which is at 2.6%, higher than the expectation, which is good for JPY, therefore, from fundamental view, please take note there's also a possibility that the JPY future may increase.
CME:6J1!Short
by Genesiv
1
Micro USD/JPY FUTURES (M6J!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 138.35 Pivot: 137.05 Support : 135.30 Preferred Case: On the H4, with the price moving within the ascending channel and above ichimpku cloud, we have a bullish bias that the price may rise from the pivot at 136.89, which is in line with the overlap resistance to the 1st resistance at 138.29, where the swing high is. Alternative scenario: Alternatively, price could drop to the 1st support at 135.31, where the 23.6% fibonacci retracement and swing low support are. Fundamentals: The small but meaningful rise in the US 2-year yield contributed to the rise of USD.
M
by Tickmill
Micro USD/JPY FUTURES (M6J!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 138.35 Pivot: 137.05 Support : 135.30 Preferred Case: On the H4, with the price moving within the ascending channel and above ichimpku cloud, we have a bullish bias that the price may rise from the pivot at 136.89, which is in line with the overlap resistance to the 1st resistance at 138.29, where the swing high is. Alternative scenario: Alternatively, price could drop to the 1st support at 135.31, where the 23.6% fibonacci retracement and swing low support are. Fundamentals: The small but meaningful rise in the US 2-year yield contributed to the rise of USD.
MLong
by Genesiv
JAPANESE YEN Futures (6J1!), H4 Potential for Bearish DropType : Bearish Drop Resistance : 0.0075890 Pivot: 0.0074140 Support : 0.0073120 Preferred Case: On the H4, with the price moving below the ichimoku cloud and breaking the ascending trendline, we have a bearish bias that the price may drop from the pivot at 0.0074140, which is in line with the pullback support, 61.8% fibonacci retracement and 61.8% fibonacci projection top the 1st support at 0.0073120, where the 100% fibonacci projection, 78.6% fibonacci retracement and overlap support are. Alternative scenario: Alternatively, price could rise to the 1st resistance at 0.0075890, where the swing high is. Fundamentals: The trade balance of Japan is out today, which is -2.13T, lower than forecast and previous.
CME:6J1!Short
by Genesiv
MICRO USD/JPY Futures (E71!), H4 Potential for Bullish MomentumType : Bullish Rise Resistance : 138.65 Pivot: 135.31 Support : 130.00 Preferred Case: On the H4, with prices moving above the ichimoku indicator, the MACD histogram is above zero and the RSI moving along the ascending trendline, we have a bullish bias that price may rise from the pivot at 135.31 where the 61.8% fibonacci retracement is to the 1st resistance at 138.65, where the swing high is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 130.00 where the swing low support is. Fundamentals: The latest monetary policy statement from the Bank of Japan indicates that the BoJ will continue holding short-term policy interest rates at -0.10% and purchase 10yr JGBs with no upper limit. The BoJ’s commitment to an ultra-loose monetary policy continues to diverge from the other central banks’ path of monetary policy tightening, leading to expectations for the Yen to continue weakening against the other major currencies.
M
by Genesiv
Japanese Yen E-mini Futures (J71!),Type : Bullish Rise Resistance : 0.007784 Pivot: 0.007629 Support : 0.007490 Preferred Case: On the H4, with prices moving above the ichimoku indicator and broken out of the descending channel , we have a bullish bias that price will rise to the pivot at 0.007629 where the overlap resistance and 61.8% fibonacci retracement are. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 0.007784 where the pullback resistance, 127.2% fibonacci extension and 78.6% fibonacci retracement are. Alternative scenario: Alternatively, price could drop to the 1st support at 0.007490 where the pullback support is. Fundamentals: Since it was stated that the central bank won’t hesitate to add stimulus if the economy needs it, we have a bullish view on the Japanese Yen.
CME_MINI:J71!
by Tickmill
Japanese Yen E-mini Futures (J71!), Type : Bullish Rise Resistance : 0.007784 Pivot: 0.007629 Support : 0.007490 Preferred Case: On the H4, with prices moving above the ichimoku indicator and broken out of the descending channel, we have a bullish bias that price will rise to the pivot at 0.007629 where the overlap resistance and 61.8% fibonacci retracement are. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 0.007784 where the pullback resistance, 127.2% fibonacci extension and 78.6% fibonacci retracement are. Alternative scenario: Alternatively, price could drop to the 1st support at 0.007490 where the pullback support is. Fundamentals: Since it was stated that the central bank won’t hesitate to add stimulus if the economy needs it, we have a bullish view on the Japanese Yen.
CME_MINI:J71!Long
by Genesiv
JAPANESE YEN FUTURES (6J1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 0.0079195 Pivot: 0.0076525 1st Support : 0.0074905 2nd Support: 0.0074080 Preferred Case: On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 0.0076525 where the swing high resistance and 61.8% fibonacci retracement are. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 0.0079195 where the swing high resistance and 161.8% fibonacci extension are. Alternative scenario: Alternatively, price could drop to the 1st support at 0.0074905 where the pullback support is. Once there is downside confirmation that price has broken 1st support structure, we would expect bearish momentum to carry price to 2nd support at 0.0074080 in line with pullback support. Fundamentals: Since it was stated that the central bank won’t hesitate to add stimulus if the economy needs it, we have a weak bullish view on the Japanese Yen.
CME:6J1!Long
by Genesiv
Potential Bullish ContinuationTitle: JAPANESE YEN FUTURES ( 6J1! ), H4 Potential for Bearish Momentum Type : Bullish Momentum Resistance : 0.007487 Pivot:0.007400 Support : 0.007309 Preferred Case: On the H4, with price moving above the ichimoku cloud and in an ascending trend channel and RSI showing an ascending trendline, we have a bullish bias that price will continue to rise from the pivot at 0.007400 in line with the pullback resistance to the 1st resistance at 0.007487 in line with the 61.8% fibonacci projection . Alternative scenario: Alternatively, price may reverse off the pivot and drop to the 1st support at 0.007309 at the overlap support in line with the 50% fibonacci retracement . Fundamentals: Japanese Finance Minister Suzuki said that the Japanese government is concerned about the Yen’s recent rapid weakening, giving us a bearish bias on the Japanese Yen.
CME_MINI:J71!
by Tickmill
1
Potential Bullish ContinuationTitle: JAPANESE YEN FUTURES (6J1!), H4 Potential for Bearish Momentum Type : Bullish Momentum Resistance : 0.007487 Pivot:0.007400 Support : 0.007309 Preferred Case: On the H4, with price moving above the ichimoku cloud and in an ascending trend channel and RSI showing an ascending trendline, we have a bullish bias that price will continue to rise from the pivot at 0.007400 in line with the pullback resistance to the 1st resistance at 0.007487 in line with the 61.8% fibonacci projection . Alternative scenario: Alternatively, price may reverse off the pivot and drop to the 1st support at 0.007309 at the overlap support in line with the 50% fibonacci retracement . Fundamentals: Japanese Finance Minister Suzuki said that the Japanese government is concerned about the Yen’s recent rapid weakening, giving us a bearish bias on the Japanese Yen.
CME_MINI:J71!Long
by Genesiv
Micro USD/JPY Futures (M6J1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 136.42 Pivot: 135.00 Support : 133.53 Preferred Case: On the H4, since price has broken out of an ascending trendline and is moving below the ichimoku indicator, we have a bearish bias that price will drop from the pivot at 135.00 where the pullback resistance is to 1st support at 133.53 in line with swing low support, 61.8% fibonacci retracement and 100% fibonacci projection . Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 136.42 where the pullback resistance is. Fundamentals: The weakening of the DXY should provide relief for the Japanese businesses that are hurt from the weakening of the Yen. This gives me a bullish bias for USDJPY.
MLong
by Genesiv
Micro USD/JPY Futures (M6J1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 137.22 Pivot: 136.44 Support : 134.06 Preferred Case: On the H4, with price moving below the ichimoku indicator and has broken the ascending trendline, we have a bearish bias that price will rise and drop from the pivot at 136.44 where the pullback resistance, 78.6% fibonacci projection and 38.2% fibonacci retracement are to 1st support at 134.06 in line with swing low support, 161.8% fibonacci extension and 61.8% fibonacci retracement . Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 137.22 where the pullback resistance and 61.8% fibonacci retracement are. Fundamentals: Due to the high volatility in USDJPY , we have a bearish bias on the USDJPY forex pair.
M
by Tickmill
Micro USD/JPY Futures (M6J1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 137.22 Pivot: 136.44 Support : 134.06 Preferred Case: On the H4, with price moving below the ichimoku indicator and has broken the ascending trendline, we have a bearish bias that price will rise and drop from the pivot at 136.44 where the pullback resistance, 78.6% fibonacci projection and 38.2% fibonacci retracement are to 1st support at 134.06 in line with swing low support, 161.8% fibonacci extension and 61.8% fibonacci retracement . Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 137.22 where the pullback resistance and 61.8% fibonacci retracement are. Fundamentals: Due to the high volatility in USDJPY , we have a bearish bias on the USDJPY forex pair.
MShort
by Genesiv
Micro USD/JPY Futures (M6J1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 137.22 Pivot: 136.44 Support : 134.06 Preferred Case: On the H4, with price moving below the ichimoku indicator and has broken the ascending trendline, we have a bearish bias that price will rise and drop from the pivot at 136.44 where the pullback resistance, 100% fibonacci projection and 38.2% fibonacci retracement are to 1st support at 134.06 in line with swing low support, 161.8% fibonacci extension and 61.8% fibonacci retracement . Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 137.22 where the pullback resistance, 78.6% fibonacci projection and 61.8% fibonacci retracement are. Fundamentals: Due to the high volatility in USDJPY, we have a bearish bias on the USDJPY forex pair.
MShort
by Genesiv
Micro USD/JPY Futures (M6J1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 138.73 Pivot: 137.22 Support : 136.38 Preferred Case: On the H4, with prices moving above the ichimoku indicator and along the ascending trendline, we have a bullish bias that price will rise from the pivot at 137.22 in line with the pullback support to the 1st resistance at 138.73 where the swing high resistance and 61.8% fibonacci projection are. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 136.38 in line with the pullback support, 50% fibonacci retracement and -27.2% fibonacci expansion . Fundamentals: With the BoJ monetary policy statement due on Thursday and the BoJ reaffirming its commitment to maintaining the current path of ultra-loose monetary policy , the weakness in the Yen is likely to persist, hence we have a bearish bias on the USDJPY forex pair. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
M
by Tickmill
Micro USD/JPY Futures (M6J1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 138.73 Pivot: 137.22 Support : 136.38 Preferred Case: On the H4, with prices moving above the ichimoku indicator and along the ascending trendline, we have a bullish bias that price will rise from the pivot at 137.22 in line with the pullback support to the 1st resistance at 138.73 where the swing high resistance and 61.8% fibonacci projection are. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 136.38 in line with the pullback support, 50% fibonacci retracement and -27.2% fibonacci expansion. Fundamentals: With the BoJ monetary policy statement due on Thursday and the BoJ reaffirming its commitment to maintaining the current path of ultra-loose monetary policy, the weakness in the Yen is likely to persist, hence we have a bearish bias on the USDJPY forex pair. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
MLong
by Genesiv
Micro USD/JPY Futures (M6J1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 138.78 Pivot: 137.22 Support : 136.44 Preferred Case: On the H4, with prices moving above the ichimoku cloud and within the ascending channel , we have a bullish bias that price will rise from the pivot at 137.22 in line with the pullback support and 61.8% fibonacci projection to the 1st resistance at 138.78 where the swing high resistance is. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 136.44 in line with the pullback support, 50% fibonacci retracement and 100% fibonacci projection . Fundamentals: Due to the dovish overall sentiment of yen, we have a bearish view of the USDJPY . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
M
by Tickmill