XDN trade ideas
JXY - Yen Index is still at downtrend
- Weekly's timeframe has a reversal for Down.
- Daily's timeframe has a Symmetry's waves still valid.
- H1's timeframe is out the trendline.
Therefore, I predict JXY will down continue from the wave (6) to wave (7).
Like, comment, follow me. Thanks for Tradingview.
A rebound for the JXY?On UT 4 hours, JXY is under a falling wedge pattern (The Falling Wedge is a bullish pattern)
The RSI has a today value around 27 and, in addition, the JXY is close to its support at 88.3
From the upper elements, we can remain aware about and wait for any bullish signal.
If this signal appears, a short on OANDA:USDJPY or EURJPY could be very interesting
From fundamental view, if the TVC:DXY will become weaker in the next month, it will be not surprising if the TVC:JXY would be very much sought.
Stop: 87
TP: 90 (TP1)
JXY is dropping soonI see the opportunity to sell JXY since it is in the downtrend
so thats meaning that you can trade any currency pair and expect JXY or Japanese Yen Currency Index (TVC:JXY)
to be WEAK
so the price that it will go to 88.5 area
trade any JPY pairs and have fun
If you like my analysis please help to like and follow
Thanks