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JPYBASKET trade ideas

JPYBASKET: STRONGER YUAN, THE EFFECT OF TAPERING?Hello Enthusiast Forex Traders! Here's Long-term outlook for JPYBASKET , Please give us the thumbs up and support the channel by Smashing the FOLLOW button :) JPYBASKET is breakng out of the Falling Wedge Pattern. Breaking out of the pattern may indicates a potential bullish bias ahead. The momentum indicator already crossed up toward the zero level area, it could indicate a stronger momentum going upward in the future. The roadmap will be invalid after exceeding the support/target area. DISCLAIMER: This is only an outlook, not a recommedation to buy or sell the any forex pairs.
FX:JPYBASKETLong
by financialfreedomgoals101
Short-Term Japanese Yen Forecast Possibility of a correction for more upside within the YEN in the coming weeks! The YEN has become heavily bearish after it recently broke below a key structure level and previous monthly lows to create a lower low in the market. Price has been moving with clear impulses and corrections on the larger time frames and it is clear to see that we are retracing which is part of a larger correction with the likely-hood of another impulsive move down at some point. For the moment however, price is creating clear bullish trending structures on the lower time frames meaning my bias is short-term bullish until we see a break of structure and a change in trend. At the end of this week we have seen price impulse up into a daily key level and close below. As this was a strong impulse, i would like to see price move in a descending corrective manner at which i will be targeting 2 levels for bullish momentum. The first possible price reversal zone would be as marked as this is also a 50/61.8% Fib retracement. However, there is the possibility of price to push lower to close the imbalance left in the market which was caused by the impulsive move. As long as we don't break structures i will remain bullish in the short term and look to target the weekly key level of 9550. One thing i will be watching for is the possibility of a double top around the daily key level incase we roll over to the downside, then my bias will change to bearish which will fit in with the overall continuation of the larger trend. When looking at which of the YEN currency pairs to trade i will be looking to see if i can see descending corrective movement in JPY/XXX & Ascending corrective movement in XXX/JPY pairs which mirror the index. Feel free to leave any comments!
FX:JPYBASKET
by PercentageOverPips
YEN BASKET SELLlistening to call me if you get lost and on one song he was like "rolls royce pull up black boy hop out" resonates with me 100% 🤣 okay yen basket... • last week marker respected my upward trendline for the 3rd time and bought • reached a level of resistance and lost some steam as we can see by the short bodies of the candlesticks • which all this caused a period of consolidation and an upward consolidation pattern at that • so i'm expecting that pattern to break and then only will it be all systems go to SHORT the YEN BASKET • take profits will be set at the trendline as i expect it to go test it again or maybe even break who knows GREAT SUCCESS!!!
FX:JPYBASKETShort
by K0KETSO
1
yen basket sell• this pair has formed a channel on the daily and weekly timeframes • and for the past trading days it has formed an upward correction on the DAILY and H4, after a huge bearish impulse • a third touch on the corrective pattern happened yesterday so market was bearish today and i'm looking to see it carry on it's bearish trend until the support of the channel • an inner trendline formed on the H1 and H4, it has been broken together with a support level which makes it able to SHORT the YEN BASKET (H1 closed below support) if we had missed the initial breakout
FX:JPYBASKETShort
by K0KETSO
YEN BASKET BEARISH CONTINUATION so what we have here is... • this market has been BEARISH from pretty much 2020 and has formed a DOWNWARD TRENDLINE/BEARISH CHANNEL • in september price respected the downward trendline/resistance of channel and has been in a BEARISH move towards the support of the trendline •so in the past week there was a corrective move seeing by the short term change in direction and small bodies of the DAILY candlesticks • a downward and upward inner trendline were formed and now market is by the apex so expecting a breakout to the downside and price is to go respect the support of the channel • i'll only enter if the H1 breaks and closes below the upward trendline but then if market goes bullish we adapt and change our approach GREAT SUCCESS!!
FX:JPYBASKETShort
by K0KETSO