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BOJ Intervention Needed as Yen Continues to WeakenAs avid participants in the forex market, we must remain vigilant and proactive in monitoring this situation, as it may have significant implications for our trading strategies and overall market stability. The USDJPY exchange rate has experienced a persistent upward trend in recent weeks, primarily driven by the yen's continuous depreciation. This trend can have far-reaching consequences for global trade, investment flows, and economic stability if left unchecked. It is high time that we collectively address this issue and urge the Bank of Japan (BOJ) to intervene appropriately to restore balance and mitigate the potential risks of such rapid currency fluctuations. The BOJ's intervention is crucial to ensure that market forces do not push the yen into a fragile position, which could lead to unintended consequences. While some currency depreciation can benefit export-oriented economies, an overly weakened yen may spark concerns of competitive devaluation, leading to retaliatory measures and a destabilized international trading environment. Therefore, I implore each of you to monitor the USDJPY exchange rate in the short term closely. Keep a watchful eye for any signs of a potential dip in this currency pair, as it could indicate an opportune moment for the BOJ to step in and stabilize the yen's value. We can collectively contribute to maintaining a balanced and fair forex market by staying informed and alert. Additionally, I encourage you to spread awareness about the importance of BOJ intervention among your fellow traders, colleagues, and industry contacts. Let us unite in our call for action, urging the BOJ to take appropriate measures to address the weakening yen. Together, our voices can carry weight and help safeguard the stability of the forex market. In conclusion, let us remain proactive, concerned, and engaged in monitoring the USDJPY exchange rate. By doing so, we can actively encourage the BOJ to intervene when necessary, ensuring a more stable and predictable forex market for all participants.
by bryandowningqln
14
Prime Target: Carry Trades - except for the USDJPY!Sure, the Yen is overly weak on a trade-weighted basis BUT it is the least weak versus the USD! E.g., For any intervention to be effective it ought target just about any other high yielding spread/pair EXCEPT for the USD! Having established that, it is still far more likely that any intervention would target the USD/JPY directly than the rest, if for no other reason but for its success last September (2022). (Last September, dollar longs were extremely overcrowded which amplified the effects of that intervention, and then most of the cash went into carry trades.) Times have changed, though, whether the BoJ will be willing to subscribe to that notion or not. (which is yet to be seen). OK, so where does this potential paradox (or rather, just a dichotomy? ;-) leave one, in trading terms? 1) If there ever was a right time to trade the Japanese Yen against a basket of it's counterparts, now would be it! (Work has almost completed on just such a basket this time with correct weighing. ;-) 2) FX options (especially Gamma changes) have been gauging the potential market effects of the BoJ's various jaw-boning attempts (most of which were summarily ignored by the markets) in support of the Yen, rather accurately. "If it ain't broke don't fix it." Stick with it! p.s. The CHF/JPY is a special case here (not quite a carry trade) as it's eye-watering rise is due to the same, deranged SNB policy which ended in tears, back in 1978-79. (... Switzerland slipping into a far deeper depression than it's trading partners, back then.)
by Nemo_Confidat
2
NZDJPY Those are its buy and sell break-out signals.The NZDJPY pair has been trading within a Bullish Megaphone pattern since the March 24 Low. It has been though on its longest correction in the last 1.5 months and on Monday hit the bottom of the Bullish Megaphone. For as long as it holds, this is a potential early buy signal as the price also made contact with the 1D MA100 (green trend-line), which is the level that held and initiated the rebounds of July 28 and June 01. The first buy confirmation will be a 1D MACD Bullish Cross (last one recorded on June 12) and the second a bullish break-out above the Lower Highs trend-line and 1D MA50 (blue trend-line). In that case, we will buy and target 89.700 (Resistance 1). If however we get a 1D candle closing below the Megaphone's bottom (Higher Lows trend-line) and the 1D MA100, we doubt Support 1 will hold and will take the buy's loss, opening a sell position instead, targeting 83.540 (Support 2). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
CADJPY Two scenarios but sell opportunity more closely.The CADJPY pair is trading within a 5-month Channel Up pattern, exactly on its 1D MA50 (blue trend-line). We notice the formation of a Triangle within it, similar to April's. If the 1D candle closes below its Higher Lows trend-line, then we will sell targeting 104.250 (Support 1). If the price breaks above the Lower Highs, we will buy and target long-term the 2.0 Fibonacci extension at 114.775. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
EURJPY: Consolidation & Complete Indecision 🇪🇺🇯🇵 EURJPY is currently trading within a narrow horizontal range on a daily. Depending on the side of a breakout, I see 2 potential scenarios. Bullish Scenario If the price breaks and closes above 159.5 resistance on a daliy, I will expect a bullish movement at least to 160.5 level. Bearish Scenario If the market violates 157.4 support and closes below that, a bearish movement will be anticipated to 156.1 level. As always, breakout is the best confirmation, so wait patiently for that. ❤️Please, support my work with like, thank you!❤️
by VasilyTrader
5
CHFJPY Buy opportunity unless the 1D MA50 breaks.The CHFJPY pair has been on a very strong and steady rise, supported by the 1D MA50 (blue trend-line) since the March 29 break-out. Our last signal was on April 28 (see chart below): The situation hasn't changed and the trend remains bullish, aiming at a +8.00% extension. Our target is 171.000. If however the pair breaks below the 1D MA50, we will close it and open a sell instead, targeting the 1D MA200 (orange trend-line) at 152.000. P.S. Notice the Rectangle pattern on the 1D RSI. Since the price broke and remains (to this date) above the 1D MA50, every test of the Rectangle's bottom is a buy opportunity. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
AUDJPY Sell opportunity within the Channel Down.The AUDJPY pair is on the 3rd day after a Double Top rejection on the 1D MA50 (blue trend-line). That was a Lower High at the top of 2-month Channel Down. This is a sell opportunity, as long as the price is closing 1D candles below the 1D MA50. Our target is a -3.68% decline (as the previous legs) at 91.450. You can more safely settle for the 1D MA200 (orange trend-line) which supported the price on July 28 and caused a strong rebound. That is also exactly on the 0.5 Fibonacci retracement level. The only indicator in favor of a break-out above the 1D MA50 is the Bullish Cross on the 1D MACD. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
EURJPY Short-term buy within the Channel Up.The EURJPY pair is trading within a Channel Up pattern since the mid-March low with the 1D MA50 (blue trend-line) as the main Support. The 1D MACD made a Bullish Cross and every previous such formation within this pattern, has been a confirmed buy entry. The first Higher High was a +9% rise, the second a +8% and assuming its a progression, we expect the current to complete at least a +7% rise. As a result, we are bullish, targeting 162.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
CHFJPY: Bullish Trend Continues 🇨🇭🇯🇵 CHFJPY is trading a long-term bullish trend. After the price set a new high in July, it started a correctional movement. A cup & handle pattern was formed. CPI report was a trigger for the buyers to violate the neckline of the pattern. Daily candle closed above that. It signifies that bullish trend will continue. The market will most likely keep growing. Next resistance - 166.5 ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
3
USDJPY: Rebound on the 1D MA50. Buy signal.USDJPY is on the third straight green 1D candle after a rebound on the 1D MA50 that has turned the 1D time-frame into healthy bullish levels (RSI = 60.603, MACD = 0.480, ADX = 30.898). This is technically a bullish continuation signal, with the 1D MACD after a Bullish Cross, resembling the bullish sequence of April. We are long, targeting the R3 level (TP = 146.800). If the price crosses under S1, we will short and target the S2 level (TP = 133.515). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
USD/JPYOANDA:USDJPY - Very interesting here when we zoom out on the 4H - If we anticipate price action to continue upwards, we have price at the 4H BreakerBlock, which is right above the 50% fib. - Then drilling down to the 15m, we're looking for a structural break to the upside for an entry - If price continues to head down, this will invalidate the 15m entry long - I then need to look around the 4H 50-79% fib levels for another shot at going long, as this level does not break the recent HL on the 4H.
Long
by makerup
🚨USDJPY will fall by Bearish Gartley Harmonic Pattern🚨USDJPY managed to form a Bearish Gartley Harmonic Pattern in the 🟡 Price Reversal Zone(PRZ) 🟡. A confirmation sign of point D of the Bearish Gartley Harmonic Pattern can be a Bearish Engulfing Candlestick Pattern . 💡Also, we can see Regular Divergence(RD-) between two consecutive peaks. 🔔I expect USDJPY will FALL to the 🟢 support zone(139.00JPY-137.620JPY) 🟢. 🔅U.S.Dollar/Japanese Yen Analyze ( USDJPY ), 4-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
17