MXN JPY BUY (MEXICAN PESO - JAPANESE YEN)Hi there. Price is forming a reversal pattern to change its formation. Wait for the price to complete the pattern and watch strong price action for buy.
JPYMXN trade ideas
MXN JPY BUY (MEXICAN PESO - JAPANESE YEN)Hi there. Price is moving impulsively to the upside. Wait for the price to form a continuation pattern on a lower time frame and watch strong price action for buy.
MXNJPY exepcting higher bearish continuation technicaly based
ENTRY: 5.5100
TP: 5.4500
TP2: 5.4000
TP3: 5.3500
SL: 5.5930
Chart time frame - 1D
Time for reaching TP - 1-2D
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RSI direction from here seems like it will determine the priceThe RSI seems to trend down with the price which bounces off of a well-established trendline once the RSI down trendlines are broken.
I think if the RSI breaks the lower RSI channel line, the price will go down, if it breaks the upper downtrend line, the price will go up.
MXN JPY BUY (MEXICAN PESO - JAPANESE YEN)Hi there. Price is forming a reversal pattern to change its direction. Watch strong price action at the current price for buy.
MXN/JPY sell setupMXNJPY, suspect down, price on strong weekly resistance area. jpy strength suspect ahead, mxz is extreme bearish divergence.
JPY/MXN Neutral2ShortMix signals
strong support
descending triangle
almost gravestone doji
red outside, wait til candle closes to decide
or look to lower time frame to scalp
opportunity on short/long term
Technically look for opportunity to sell if break through the cloud
or
Look to bid for fair value
fv = .18486
entry
bid to sell at fv
sl .18628
tp .18189
R/R 1.97
Any takers
profit trading
USD PRESIDENTIAL ELECTION - SELL MXNJPY - RISK & SENSITIVITYPresidential Election - Trump wins - MXN more sensitive than USD, Yen to pick up the risk-off shift:
1. Positioning for a trump win is much more interesting than a hilary win but nonetheless both should be profitable at some level. My number 1 position will be SHORT MXNJPY for a number of reasons 1) MXN has been very sensitive to the USD election given trade claims made by trump which would likely have a greater than brexit effect on the Peso. This in mind however MXN has been rallying recently as Trump winning odds have filtered into more of a tail probability. Nonetheless this just opens up great opp for profit in the even he does win (e.g. MXNJPY has rallied from 5 to 5.5 in the past few weeks as trump winning is being discounted, this opens up a whole 500pips of reward in the event he does win and MXN is shorted due to its sensitivity).
- Further the reason i have chosen XXXJPY rather than XXXUSD as a denominator for the MXN short is because JPY is likely to rally as risk sentiment sours given trump is likely to create great global geopolitical tensions, thus risk-off demand is likely to trade through the roof. Not to mention being long USD vs MXN also will have muted gains given USD is also likely to be a political-economic victim of trump win volatility.
- Term structure for the MXNJPY shorts imo will play much like GBPXXX downside has, the Trump uncertainty is likely to weigh on both the USD and MXN until at least the end of the year given policy intervention/ settling in will take this time. Thus i will be running this position for several weeks after election (i dont think we will see anyone buying the dip this side of 2017.
Presidential Election - HIlary wins - Long MXNJPY possible but USDJPY bids perhaps makes better sense:
1. The inverse of the above is obviously to buy MXNJPY in the event of a Hilary win. HIlary imo is the neutral decision given her lust to be in the pockets of corporations. MXNJPY bids make equal sense however i think USDJPY will be better suited since MXNJPY forgo's the added topside USDJPY will gain through the FOMCs likely Dec hike plus MXNJPY has already rallied 10% in recent months into the election so calls for futher topside will likely be limited. USD on the other hand has remain relatively neutral in terms of Presidential flows. Yen will devalue in both cases as risk-off demand is flushed out.
Trading Strategy - Trump SHORT MXNJPY, Hilary LONG USDJPY:
1. Short MXNJPY at mrkt as soon as the news is heard, perhaps 50% TP at 5.00 and 50% hold for a few days/ weeks.
2. Long USDJPY at market as soon as the news is heard, targeting 108,109,111.
USD PRESIDENTIAL ELECTION - SELL MXNJPY - RISK & SENSITIVITYPresidential Election - Trump wins - MXN more sensitive than USD, Yen to pick up the risk-off shift:
1. Positioning for a trump win is much more interesting than a hilary win but nonetheless both should be profitable at some level. My number 1 position will be SHORT MXNJPY for a number of reasons 1) MXN has been very sensitive to the USD election given trade claims made by trump which would likely have a greater than brexit effect on the Peso. This in mind however MXN has been rallying recently as Trump winning odds have filtered into more of a tail probability. Nonetheless this just opens up great opp for profit in the even he does win (e.g. MXNJPY has rallied from 5 to 5.5 in the past few weeks as trump winning is being discounted, this opens up a whole 500pips of reward in the event he does win and MXN is shorted due to its sensitivity).
- Further the reason i have chosen XXXJPY rather than XXXUSD as a denominator for the MXN short is because JPY is likely to rally as risk sentiment sours given trump is likely to create great global geopolitical tensions, thus risk-off demand is likely to trade through the roof. Not to mention being long USD vs MXN also will have muted gains given USD is also likely to be a political-economic victim of trump win volatility.
- Term structure for the MXNJPY shorts imo will play much like GBPXXX downside has, the Trump uncertainty is likely to weigh on both the USD and MXN until at least the end of the year given policy intervention/ settling in will take this time. Thus i will be running this position for several weeks after election (i dont think we will see anyone buying the dip this side of 2017.
Presidential Election - HIlary wins - Long MXNJPY possible but USDJPY bids perhaps makes better sense:
1. The inverse of the above is obviously to buy MXNJPY in the event of a Hilary win. HIlary imo is the neutral decision given her lust to be in the pockets of corporations. MXNJPY bids make equal sense however i think USDJPY will be better suited since MXNJPY forgo's the added topside USDJPY will gain through the FOMCs likely Dec hike plus MXNJPY has already rallied 10% in recent months into the election so calls for futher topside will likely be limited. USD on the other hand has remain relatively neutral in terms of Presidential flows. Yen will devalue in both cases as risk-off demand is flushed out.
Trading Strategy - Trump SHORT MXNJPY, Hilary LONG USDJPY:
1. Short MXNJPY at mrkt as soon as the news is heard, perhaps 50% TP at 5.00 and 50% hold for a few days/ weeks.
2. Long USDJPY at market as soon as the news is heard, targeting 108,109,111.
MXNJPY into the Election: Macro Tourism 101MXN seems to have gone too far, owning MXNJPY into and beyond the US elections, should resolve in some fantastic total returns if the timing is right.
To Breakout To The DownsideHighly similar to the CADJPY & CADCHF situation; this pair is also going to break out to more downsides... (I'm also expecting Crude Oil's temporary rally to end quite soon, & then resume to some lower lows...)
Additionally, the Japanese Yen (or JPY) is also known to be a very strong safe-haven currency; & it is most likely set to get progressively stronger for the rest of 2016...
The strength of the MXN is also highly influenced by the price of Crude Oil (just like the RUB & CAD)...
MXNJPY 1hr 1mo wedge breakoutConsolidation along the upper edge of the wedge is showing a possible breakout to the upside.
