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Japaneseyen

USDJPY below a level that was a Support since September 2021!The USDJPY pair made a strong rejected shortly after our previous analysis where we called for a strong sell at the top of the (now) 6-month Bullish Megaphone pattern: Following a fake-out just above the Megaphone, the rejection was much stronger and so far much longer that any of the previous ones in 2022. The price not only broke below the 1D MA50 (blue trend-line) but also the 1D MA100 (green trend-line), which has been the long-term Support and unbroken since September 23 2021 and where the previous Megaphone Higher Low was made (August 02 2022). Right now the 1D MA100 is being tested as a Resistance, which the price has failed to break on 4 straight days. The more it fails, the more likely it is to test the bottom (Higher Lows trend-line) of the Megaphone and if broken, target the 1D MA200 (orange trend-line). A closing above the 1D MA100 however, targets the 1D MA50 but as with early August, this still doesn't restore the uptrend. The pair typically needs a clear closing above the 1D MA50 to do so, in which case we can expect at least the 0.618 Fib to be tested if not the previous High. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
2
GBPJPY: Your Detailed Trading Plan 🇬🇧🇯🇵 Update for GBPJPY. After a strong bearish wave, the market is correcting within a rising wedge pattern. To catch the next trend-following move, wait for a bearish breakout of its support. We need a 4h candle close below that to confirm the breakout. A bearish continuation will be expected to 164.55 / 163.75 levels then. Good luck! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
InvestMate|EUR/JPY BOJ DO SOMETHING💶💴💶💴EUR/JPY BOJ DO SOMETHING 💶💴Another post/update of my view on the eur/jpy pair. Link to previous post below: 💶💴I will zoom in on the fundamentals: 💶Looking at economic growth in the Eurozone we are at levels of 2.1% This is quite average looking at the past. 💴Compared to Japan where we are currently at 1.6% this is also quite average looking at past periods. tradingeconomics.com 💶 Unemployment in the Eurozone is falling - the latest reading on 3 November showed a drop to 6.6% compared to last reading of 6.7%. 💴 In Japan, on the other hand, unemployment rose from 2.5% to 2.6%. 💶 A week ago, on 17 November to be precise, the inflation reading, which was 10.7% on 31 October. The market is betting on a slowdown in inflation in the coming months. 💴 In the case of Japan, inflation is gaining momentum even though we have maintained a 3% growth the market is betting that during the next data due on 17 November we could break this barrier and rise to levels of 3.2%. 💶 Eurozone interest rates were raised by 75 basis points at the last council meeting on 27 October to 2%. 💴 In Japan, of course, no change, the council kept rates at -0.1% at its last meeting, but with inflation gaining momentum, further moves remain uncertain. For now, the market is pricing in an unchanged rate at the next decision on 22 November. 💶💴 Now that we know the fundamental environment, let's turn to the chart. 💶💴Today brought nothing new. We attacked the 145.400 level again and there was an unsuccessful attempt to go down to yesterday's lows. 💶💴All due to low volatility on the Japanese. And uncertainty as to which way the Euro should go. 💶💴 Looking more broadly at the market and seeing that the Japanese on most pairs is preparing for a massive appreciation and the Euro on most pairs is waiting for the right moment to make a correction of uptrend. 💶💴These 2 separate events combined in a single chart could produce the massive price waterfall I wrote about in the previous post. 💶💴On the chart I determined a few things using technical analysis: 💶💴Firstly I determined the upward channel we are currently in. 💶💴Then I measured the entire downward wave using the fibo. We can see a triple attack on the 0.618 level which we failed to break out of. 💶💴Next I measured the current upward impulse to find potential support zones. 💶💴Then I measured the largest correction of this upward impulse in order to determine the 1:1 level of this correction. 💶💴By measuring the current uptrend impulse and the 1:1 correction, I found an interesting cluster of levels at 0.618 and 1:1 near 143.600 💶💴In the vicinity of the 0.618 level I determined a strong resistance zone. Due to the fact that the price repeatedly tried to break out of this level unsuccessfully 💶💴The scenario I am playing out is the eur/jpy pair descending to support levels as a result of the Bank of Japan intervening to strengthen the Japanese Yen. 💶💴*Please do not suggest the path I have drawn with lines this is only a hypothetical scenario for further increases. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
InvestMate|EUR/JPY Outlook Update💶💴💶💴EUR/JPY Outlook Update 💶💴This is yet another post in which I will try to give a more detailed presentation of my downside scenario on this pair. Because I think that price is still expensive. 💶💴Beginning with the fundamentals: 💶Looking at economic growth in the Eurozone we are at levels of 2.1% This is quite average looking at the past. 💴Compared to Japan where we are currently at 1.6% this is also quite average looking at past periods. tradingeconomics.com 💶 Unemployment in the Eurozone is falling - the latest reading on 3 November showed a drop to 6.6% compared to last reading of 6.7%. 💴 In Japan, on the other hand, unemployment rose from 2.5% to 2.6%. 💶 A week ago, on 17 November to be precise, the inflation reading, which was 10.7% on 31 October. The market is betting on a slowdown in inflation in the coming months. 💴 In the case of Japan, inflation is gaining momentum even though we have maintained a 3% growth the market is betting that during the next data due on 17 November we could break this barrier and rise to levels of 3.2%. 💶 Eurozone interest rates were raised by 75 basis points at the last council meeting on 27 October to 2%. 💴 In Japan, of course, no change, the council kept rates at -0.1% at its last meeting, but with inflation gaining momentum, further moves remain uncertain. For now, the market is pricing in an unchanged rate at the next decision on 22 November. 💶💴 Now that we know the fundamental environment, let's turn to the chart. 💶💴I will present all the tools I used in turn: 💶💴1 I have plotted the uptrend channel from the start of the strong breakout to the top. 💶💴2. I measured with a fibo grid the entire upward wave. 💶💴3. I measured the last downward impulse using the fibo. 💶💴4. I measured the largest downward correction in the entire upward impulse to determine the extent of the 1:1 correction. 💶💴5 I determined two support zones. 💶💴(1) Based on the 1:1 level of the largest downward correction and the 0.5 level of the entire upward impulse. 💶💴(2) Based on the 0.618 level and the previous strong price reactions, from this point the price made a rise to new peaks. 💶💴6. I determined a resistance zone based on the 0.5 level and where price has reacted in the past. 💶💴The scenario I am playing out is a final descent to the 0.618 levels of the entire downward wave. 💶💴*Please do not suggest the path I have drawn with lines this is only a hypothetical scenario for further increases. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
USDJPY: Key Levels to Watch 🇺🇸🇯🇵 Here is my latest structure analysis for USDJPY: Resistance 1: 140.37 - 142.47 area Resistance 2: 145.1 - 145.6 area Resistance 3: 148.3 - 148.9 area Resistance 4: 151.34 - 151.92 area Support 1: 137.48 - 138.0 area Support 2: 135.16 - 136.45 area Support 3: 130.38 - 131.75 area The price is currently stuck between Resistance 1 and Support 1. The future direction of the market will be determined by a breakout of one of these structures. Alternatively, consider pullback trading from them ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
11
Japan’s GDP decline fuels greenback’s reboundEUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 Early this morning, the collection of Japan’s economic data indicated a contraction, its GDP has decreased by 0.3% in the quarter, against estimates for a 0.3% increase. As such, USD/JPY added over 100 pips to 139.88, currently at 140.28. USD/CAD also slightly recovered to 1.3311. Meanwhile, EUR/USD bounced back from a low of 1.0274 to 1.0325, investors expected tonight’s Eurozone GDP quarterly growth will fall from 0.8% to 0.2%. GBP/USD recorded a 79 pips loss to a closing price of 1.1752. After some fluctuations, AUD/USD closed at 0.6696 with minor losses, the meeting minutes released by the Reserve Bank of Australia show the central bank has considered a 50 basis point rate hike for November. Spot gold closed at $1,771.24 and was last traded at $1,769.79 an ounce. WTI oil futures declined to $85.87 a barrel. FTX’s recent collapse sees Bitcoin plunging to a low of 15,852.
by Mitrade_official
InvestMate|USD/JPY Long-awaited correction💱USD/JPY Long-awaited correction 💱Continuing the thread started in a previous post in which I predicted a decline on USD/JPY . 💱In this post I would like to expand on my point of view 💱Last week the event everyone was waiting for was the interest rate decision, which rose to 4%. 💱This was followed by a press conference in which Jerome Powell spooked the markets with a hawkish tone, which first triggered a sharp wave of dollar weakness, and Powell's words were followed by a speculative attack to strengthen the dollar. 💱The next day already brought a cooling off and the market returned to discounting the scenario of a weakening dollar in the future and a slowdown in interest rate hikes. 💱 4 November Non Farm Payrolls performed very well with 261k new jobs created compared to the 200k the market was expecting. 💱After which the rate from the data we found out unemployment rose to 3.7% 💱All this data could have a positive impact on future inflation readings. Which has been falling for over 4 months. 💱All of the above data is contributing to the slow weakening of the dollar. 💱Looking at the USD/JPY chart where we are at 32 year highs. 💱In an uptrend since 2011. 💱The only significant corrections we have made in recent years were these 2: 💱Looking at the current one-year uptrend impulse, it is hard not to get the impression that in the long term we could use some kind of correction, at least to match the one in July this year 💱Or perhaps we are in for an even bigger correction returning to strong support points? 💱If Japan's rising inflation forced the central bank to raise interest rates, which are at record lows, and these developments combined with the BOJ's stated desire to strengthen the currency in recent weeks. We could see a massive downward slide, especially with the dollar 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
2
NZDJPY Pull-back first, 88.000 - 90.000 later.The NZDJPY pair followed very closely the trading plan we presented on our last September 22 analysis: As you see after a drop to the 1.236 Fibonacci extension, the price rebounded aggressively back to the Resistance Zone. What helped us make this accurate projection were the striking similarities that presented early on with the June - September 2021 fractal. It appears that we are inside the blue oval pull-back which was completed just below the 0.786 Fibonacci level and then bounced for a new High on the -0.5 Fib extension. See how similar their RSI patterns are as well. As a result, once this pull-back is completed, we expect a rise first to the 87.900 Resistance (top) and the -0.5 Fib above 90.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
CADJPY Accumulation before pump?The CADJPY pair continues to follow our trading plan presented on September 20, as it repeats the fractal of late 2021 - early 2022: As you see, the MACD Bearish Cross was the correct sell signal we needed and the price hit the 0.618 Fibonacci target and rebounded. Right now it appears that the price has entered a consolidation phase similar to the post January 20 MACD Bearish Cross. As long as the Green Support Zone holds, we should expect within a 5 week horizon a break above the September High, targeting the 2.0 Fibonacci extension. A break below the Zone though, shouldn't stop on the 1D MA200 (orange trend-line) but instead target the 1W MA50 (red trend-line) for the first time since December 20 2021. An additional bullish confirmation would be a break of the RSI above its own Lower Highs trend-line, which in more than a year has delivered very strong and rapid rallies. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
1
USDJPY: Your Trading Plan For Today 🇺🇸🇯🇵 USDJPY is approaching a rising trend line on a daily. The price formed a double bottom pattern on that on an hourly time frame. To buy with a confirmation, wait for a bullish breakout of its horizontal neckline. We need an hourly candle close above 146.8. A bullish continuation will be expected to 147.4 level then. If the price sets a new lower low on an hourly, the setup will become invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
4
CHFJPY Undecided around the 1D MA50.The CHFJPY pair has been trading on one of the most consistent patterns of the last 12 months as we accurately outlined on our last analysis in mid September: Once again the signal played out as it pulled-back as low as the 0.5 Fibonacci retracement level and then the price has been trading sideways ever since. The 1D RSI has again formed Lower Highs but this time the MACD on the 1W time-frame is on a confirmed Bearish Cross. As a result, we are only willing to approach this with break-outs. A 1D closing below the 1D MA100 (green trend-line), would be a sell break-out signal targeting the 1D MA200 (orange trend-line), while one above the 1D RSI Lower Highs and the price's 150.700 Resistance, would be a buy break-out signal targeting the 2022 Higher Highs trend-line. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
3
AUDJPY The Lower Highs the key to our trades.The AUDJPY pair is currently trading on its 1D MA50 (blue trend-line), being the pivot since the price turned sideways during Summer. The long-term trend remains bullish however within a 1 year Channel Up (better viewed with the Fibonacci levels as you see) with the 1D MA200 (orange trend-line) supporting. Recently it has formed a Lower Highs pattern again with the 90.740 level as the Support. That seems to be consistent with the previous Lower Highs of June-July that broke upwards in late August and hit the 98.700 Resistance. As a result, if the price breaks above the current Lower Highs we expect again a push to the 98.700 Resistance. On the other hand, a break below the Support, would mean a break below the 1D MA200 as well, and that would change completely the trend to long-term bearish. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
EURJPY Huge bullish break-out!The EURJPY pair emphatically broke above the June Resistance Zone confirming our view of the market since early August. This continues to repeat the fractal of 2020 as we pointed out in our last analysis: This helped us make this accurate projection as the price got rejected initially on the Resistance Zone and after pulling-back to the 1D MA50 (blue trend-line) it rebounded again emphatically above the Resistance Zone this time and even hit the 4.0 Fibonacci extension, which was our Target. If the fractal continues to play out, then we should see an extension of this rise to the next Fib 4.5 which is at 152.550. Basically based on the RSI on the 1W time-frame, we are in a spot similar to late February 2021, after the RSI broke above its Lower Highs trend-line. Only a closing below the 1D MA200 (orange trend-line) can reverse this long-term bullish trend and drop the price as low as the 1W MA200 (red trend-line) and the bottom of the 2021 Fibonacci Channel. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
⚜️ USD/JPY : NEW TA : 10.28.22 ⚜️In this chart, the possible trends with high accuracy examined and various support and resistance zones have been identified on the chart ! Follow me for more analysis & Feel free to ask any questions you have, I'm here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @ArmanShabanTrading 📅 10.28.2022 ⚠️(DYOR) ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
Long
by ArmanShabanTrading
7