JXY trade ideas
Japanese Yen mirrors GoldWhile trading, it is worth knowing that Japanese Yen closely follows Gold, both intraday and on bigger timeframes. Both instruments mirror each other. So, XAUUSD analysis are valid for USDJPY, only in reverse order, i.e. if XAUUSD will move up a few ticks USDJPY will move down the same distance. Safe trading! The chart above demonstrates this correlation. I chose Japanese Yen Index for that, which is nearly same as USDJPY in reverse, as in USDJPY Yen is a quote currency.
Global-Review / May 22nd : Ahead of the big next week catalysts Hope this idea will inspire some of you !
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Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum .
You can check my indicators via my TradingView's Profile : @PRO_Indicators
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Kindly,
Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :
Global-Review / May 14th : Big cluster today on Wallstreet.Hope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
If you want to see my chart more closely, click the share button below that video.. You will be able to have access to the chart used in that video.
Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum .
You can check my indicators via my TradingView's Profile : @PRO_Indicators
If you have questions about the topics discussed in that video post a comment with "@PRO_Indicators" handle.
Kindly,
Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :
Bullish on Japanese Yen / JXYJapanese yen (JXY) broke from a big bearish channel and started heading to the skies. Now it pulled back to 200 EMA and horizontal support level (that was once a resistance). I expect a bounce off that level. It might test it a few more times penetrating it but the eventual route is up. The worst scenerio: it can drop down to the triangle trendline (in which it got cornered) but then it will bounce up to the other upper side of the triangle anyway. And the ultimate breakout from the that triangle should be upwards as shown on the chart (in accordance with a previous trend, as it already tested the ultimate bottom). When trading Japanese Yen pairs (GBPJPY, GBPUSD, NZDJPY, AUDJPY, EURJPY...) keep in mind where the yen is going as we trade the spreads between 2 different currencies in each pair.
JXY Long before Shortuptrend violated, building a Head from the strong pull back.
Now it will build the right should and drop
YEN index very bullishMoving averages crossed. Yen is due for a long term bull. Trend will be similar to commodities
JXY Possible BreakoutWatch out on JPY pairs, the JXY index may have broken trend line. Must wait for confirms.
Jxy - Gold proxyHi,
The way i see it i am gold bear wich means jxy -0.21% will drop. However i honestly do NOT like this chart.
I've seen these setups fail a bunch of times.
My advice next days would be to be very cautious.
And track how this binary event and the proxies around it evolve.
Act if you see an opportunity.
Most likely it will crack down. Wich means sell the yen.
Just Updating my october forecastI feel we will have a correction first before completing the cypher Pattern
