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JPYBASKET trade ideas

JPY BASKET Where next ?Hey there everyone, A currency's index can be of utmost importance while trading ,So let's see what's happening with the Yen Index to set targets and apply them to the XXXJPY pairs As we can see the price just broke through an important zone and 2 descending trendlines ,achieving the target of the previous Double Bottom formation Although waiting for more from the yen may be tempting to make more pips however this seems unlikely as price has been on the rise the whole week So we have 2 scenarios in mind : 1-This is just a fake-out which will be confirmed by returning below the previous resistance and trendline as we are at: #Fib level 0.786 #Long Upper Wick #near 100 EMA #approaching overbought area on HTF 2-A break-out in progress AFTER we complete a short term retracement to retest the broken structures during the next week near Golden Fib levels and the 100 EMA + 20 EMA Crossing the 50 EMA Targets will be 1-Continuation of the Downtrend since 2021 making a LL below 9000 within the next couple of months 2-First one will be the previous zone of resistance at 9400 to 9450 Next one will be around 9550 $$$ THE COLOR CODING SYSTEM $$$ Violet : Weekly and Monthly Red : Daily Blue : Hourly Thanks for your reading and wishing you all a good weekend
FX:JPYBASKET
by kimozelghonemy
FXCM's JPYBasket Testing EMA on WeeklyThe FXCM JPYBASKET has been consolidating since march on the weekly timeframe (blue rectangle). Two weeks ago, the basket made a concerted effort to break above its black 30-week EMA. However, this has not been convincing and price fell back to the EMA last week. We are looking to see if it is able to maintain its bullish momentum. If the basket is able to stay above the black EMA and the EMA turns up, it will be regarded as a bullish development for the basket.
FX:JPYBASKET
by FXCM
2
JPY could nicely FALL again!Hey tradomaniacs, The JPY-BASKET is currently testing a strong resistance-zone after the breakout of a triangle 👉 So far sellers are taking some action and try to defend their zone which could lead to a pullback back down to the 61,8% fib-level. A little bit suspicious is that a tringale usually contains 4 Waves, from A-D. Since a triangle is always a 50/50-Game due to the obviousness of retail-positioning which are waiting for breakouts, I expect price to move down as this could be a fakeout. If this is the case and the US-DOLLAR keeps falling, we might get a great chance to catch dips at GBP/JPY and EUR/JPY. Watch it carefully if you trade JPY-Pairs❗️😊 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me
FX:JPYBASKETShort
by Trading2ez
3
JPY could move UP!Hey tradomaniacs, with the retest of the previous breakout we could see another impulse upwards as UR YIELDS are currently falling, which is basically good for JPY. Interesting to watch would be AUD/JPY, NZD/JPY, EUR/JPY aswell as GBP/JPY since all these curencies against the major USD were very weak today as expected. JPY-Strenght could cause JPY-PAIRS to "catch up" with the moves of the day. LEAVE A LIKE AND A COMMENT - I APPRECIATE EVERY SUPPORT! Wanna see more? Don`t forget to follow me!
FX:JPYBASKETLong
by Trading2ez
1
JPY could fall very SOON !# GoodChancesHey tradomaniacs, Its the same old story 👉 The market awaits more inflation-data from the USA aswell as the European Central Banks meeting to get any hints for possible tighter monetary policy plans. On thursday we get a bunch of important data, such as the U.S. initial jobless claims, U.S. CORE CPI and the ECB Interest Rate Decision which is probably a reason for the market to stay in its current ranges and continue the week with some choppiness. I`m personally focusing on JPY-Trades today as I see a great chance coming here soon 👉 Looking at the JPY-BASKET we could get a trendcontinuation here very soon and so great chances to sell JPY against other pairs, auch as AUD/JPY, EUR/JPY aswell as GB P/JPY, where I see good opportunities coming soon. Let`s see! =) LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me
FX:JPYBASKETShort
by Trading2ez
4