OmgPossible wave 3. The longest wave
Price moved out of that channel and is going with such strength that I doubt we will see a deep retracement but rather a parabolic move which serves as a great opportunity for a long side buy option
Jpylong
JPY BASKET LONGS 📉📉📉📉 Expecting bullish price action on JPYBASKET as we are in a HTF bullish market strucutre. There is a possibility of making an AMD pattern as price is now accumulating getting orders both on long/short side after that we can see a run on stops below weekly low then bullish reversal.
What do you think ? Comment below..
JPY likely to MVE UP!Hey tradomaniacs,
JPY-Basket is re-testing a struong support-zone and should hold it in order to continue the trend.
Risk-Off in equities would confirm my expectations.
So far, a good risk-reward-opportunity!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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JPY BASKET SHORT - TERM SHORTS 📉📉📉📉 Expecting bearish price action on JPYBASKET from a short term perspective as price moves above weekly high and rejected with a high bearish momentum, on a mid-long term perspective we are bullish from 9090-9000 areas where we have a bullish orderblock and imbalance, dont look for sell on xxx jpy pairs for now.
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JPY BASKET LONGS 📉📉📉📉 Expecting bullish price action on this index pair as price is making a bullish market strucutre on h4 shifting the strucutre from bearish into bullish, we are retracing right now into a orderblock h4 area filling the bullish imbalance and taking out stops below 9000 important psycho level, if we have a h1/h4 bullish closure then we should expect a leg higher into 9100/9200
What do you think ? Comment below..
CHFJPY Correction Incoming!CHFJPY has met it's long term upper trendline, is showing oversold on the Daily RSI, 4H and 12H, and even the weekly RSI is at 69.98.
We also see strong bearish RSI divergence on the Daily.
JPY has been the biggest loser of the major currency pairs in the past month and in fact the past year, but for shorter term outlooks JPY looks due for a correction against a number of other currencies and my targets of choice are CHF and possibly USD.
This is NOT financial advice. You are responsible for your own trading decisions.
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GREAT trading opportunities for JPY pairsI will start with UsdJpy, not because it offers the greatest opportunity, but because is the main JPY pair:)
As we can see in the main chart, after the pair reached 115.50 zone resistance it started to correct and found support in the 112.50 zone. After this, the pair has started to rebound but again, has faced strong offers above 114.
Technically speaking, we can speculate a head and shoulder pattern forming with a neck-line under 113, also, the rise from recent 112.50 is forming a flag.
I expect JPY to be strong in the coming days and weeks and we can see UsdJpy revisiting 112.50 or if we consider the H&S s target, even 109.
And now we have the juicy stuff...
EurJpy can drop 500 pips
Since the beginning of May's 2020 low, EurJpy has had a nice bullish uptrend counting 2000 pips in approximatively a year. After the 134 top in the first and second of June 2021, the pair has started to correct and has broken the ascending trend line in July. After this, the pair has started to consolidate and, in my opinion, this consolidation is in fact distribution. We have a new attempt to go higher in October, which is very well capped in 134 zone and a new and quick drop to 128 support.
At this moment we have a double top in place and a break under support will give us confirmation.
Considering last week s PA, with the pair quickly reversing with a Pin Bar after FOMC, I see no power in this pair and I expect the break.
Such a break has a target of 500 pips and we can have a very good R: R of 1:3
GbpJpy has the greatest pip gain potential
As we can see in the chart, here also we have a strong bull trend started with Mid-March 2020 low and, unlike EurJpy's trend, here we have a 3500 pips rise.
Also, the trend line break just took place at the beginning of December.
After the quick drop of 1000 pips in only 6 weeks, the pair has started to consolidate.
BoE rate rise did nothing to change JPY's strength, only creating a spike that confirmes the break of the trend-line and the horizontal 152.50 resistance (these levels are confluent)
I expect a break of the 149-150 zone support and the pair, considering its extreme volatility, can drop another 1000 pips to 140 zone.
Interim support is 144 in GbpJpy's case.
Here we can have a more than 1:4 R: R
NzdJpy can drop to 70
Another interesting pair to keep an eye on is NzdJpy (something similar is valid for AudJpy)
After the false break above 80, the pair lost 600 pips pretty fast and found support in the 76 zone. The rebound from this support is a flag, and the support of this flag was broken on Friday.
Here also I expect a huge drop, and 70 zone could be bears target
Interim support for NzdJpy is at 75
Also here, if we target 70 zone, we can reach an R:R of almost 1:3
Best of luck trading JPY pairs next week!
Mihai Iacob
JPY BASKET SHORT - TERM SHORTS 📉📉📉Expecting JPY weakness into sell side liqudity, price took out buy side liquidity on a htf basis made a lower high on a ltf rejecting a premium market area on fibonacci, we should see bulishness in XXXJPY currency pairs, look for longs over there.
How do you see ?
JPY BASKET SHORT - TERM SHORTS 📉📉📉JPYINDEX should start the selloff in this area, price took all the liquidity above weekly high area. We can see that the bullish momentum is low already and we can see some bearish candles in formations, i expect to see the selloff at the start of NY session. This means bullish xxxjpy pairs if you have clear entries
What do you think ? Comment below ..
JPY BASKET SHORT - TERM SHORTS 📉📉📉On a short term perspective(start of the week) i see JPY to make a drop back into 9200 / 9080. Price rejected a bearish orderblock on d1 and filled a daily imbalance, also took out the stops above 9300 and reversed quickly. I would like to point that best trades right now are BULLISH JPY, but if you are more riskier you can try some shorts going into the start of the week.
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CHFJPY bullish breakout | 25th Nov 2021Price broke out of the descending trendline resistance (now support) , signifying bullish momentum. We can expect price to push up from the pivot level in line with 38.2% Fibonacci retracement towards take profit level in line 78.6% Fibonacci retracement and 127.2 % Fibonacci projection . Our bullish bias is further supported by the stochastic indicator where %K line is abiding to the ascending trendline support and an inverse head and shoulders is spotted as well.
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FOREX ANALYSIS : EURJPYFX:EURJPY
The blue and red lines mean: I think prices can return in these areas.
Green lines mean: I think the price can reach these areas. They are therefore known as transaction targets.
If you want to use this deal, please risk only one percent of your account balance.
AUDJPY Swing trade idea. Great Risk to Reward potential.When we see a trade setup with this kind of Risk to Reward our Trade plan dictates that we must pull the trigger.
Ideally we would enter on a 30min trigger candle so a 20 pip rally from here would be ideal before we enter.
jpy short posisionLa ide aes entrar en posision cuando el sol aslga y se oculte por el lejano oeste al canto del primer gallo virgen de la cuidad de masachusets
Triangle Breakout Puts 2021 and 2020 High in Focus Prices broke higher from a Symmetrical Triangle pattern this week, putting the 2021 (111.65) high and 2020 (112.22) high in focus. A reversal lower prior to that may see bulls attempt to turn resistance into support. The MACD oscillator signals healthy momentum in price, which puts bulls at an advantage going into Q4. The 23.6% Fibonacci level is the most immediate resistance.
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.
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USDJPY SHORT IDEAThe USD/JPY pair hit 110.19 on Friday, its highest since early April, retreating afterwards to close the week with gains in the 109.80 price zone. The pair soared amid the prevalent dollar’s demand, easing ahead of the close on the heels of lower US government bond yields. The yield on the benchmark 10-year Treasury note peaked for the day at 1.62%, settling at 1.58%. Meanwhile, Wall Street managed to close in the green, although gains were limited as higher US inflation figures weighed on the investors’ mood.
Therefore, the Bearish bias will be suggested in the upcoming sessions unless breaking 110.50 and closing with a daily candle below it .
