Looks like yen crosses are breaking higher. Over all strength in yen crosses corresponding rallying global financial market sets the tone. I have couple of long yen crosses opened now. Usd/Jpy represents this better in the chart below of the carry trade strength.
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Yen Crosses continue to tumble
Yen Crosses continue to tumble. However there is a breather right now in market. And probable market is catching its breath for more volatility in days ahead. Interesting times and more opportunities in yen crosses ahead. Here is the chart of Aud/Jpy to show this illustration and reflect market sentiment towards risk.
GBPJPY(24-27Jan2017)
GBPJPY (23-27Jan)
142.00 lvl is a resistance hard to break.
Multi-day hit and retrace from there
D1-Bearish (Bull might fight back at 139)
H4-Bullish(immediate re-tracement to 143.8 is possible this week )
142.00 lvl is a resistance hard to break.
Multi-day hit and retrace from there
D1-Bearish (Bull might fight back at 139)
H4-Bullish(immediate re-tracement to 143.8 is possible this week )
USDJPY (23-27Jan)
USDJPY (23-27 Jan2017)
AUDCAD reaching critical resistance zone
I m leaning towards it will go bk 0.99 before advancing further..
W1: Bearish
D1:Bearish (20Jan was Doji)
H4: Expect to retest 115.0,115.75 before breaking down to 114,113.5,111.5
AUDCAD reaching critical resistance zone
I m leaning towards it will go bk 0.99 before advancing further..
W1: Bearish
D1:Bearish (20Jan was Doji)
H4: Expect to retest 115.0,115.75 before breaking down to 114,113.5,111.5
The Day Before: It was all about the #Yen
- The JPY dragged all its crosses through the mud, breaking notable levels against the USD, EUR, and AUD.
- Elsewhere, ECB Minutes showed that some members were looking for sharper cuts, which put the Single Currency under fire.
This article originally appeared at The F in Finance .
Follow me on Twitter: @thefinfinance
Carry Trade Unwinding, USD/JPY is leading the way
Japanese Yen crosses are unwinding and speeding up. USD/JPY is going down taking all the other yen crosses down with it. It gained the momentum when the major support at 110 is broken. It can go down to 107 in short term. I have benefited from selling GPY/JPY and EUR/JPY so far. Looking forward to better levels to reenter and sell yen crosses. Any rally will be sold.
Japanese Yen to Stay in Range
After a wild first two months of the year, the Japanese Yen has a calmer session in March. The pair closed lower by only 12 pips, forming a doji pattern on the monthly chart. This pattern signals indecision in the market. The market usually moves in a range about 70% of the time and only trends the other 30%.
An added problem for any trends is the active intervention by the Japanese ministry of Finance. Look at the 4h chart below. Notice the the pair keeps getting bought around 111 dollars for 1…
An added problem for any trends is the active intervention by the Japanese ministry of Finance. Look at the 4h chart below. Notice the the pair keeps getting bought around 111 dollars for 1…
Yen strength continues
Yen strength has been one of the main stories this year. After unsuccessful attempt by the BOJ to stem its appreciation, yen buyers returned with force in February. The pair (USD/JPY) is down eight cents in the first eight trading days of the month.
It has broken below strong 115.50 - 116.00 support (now resistance) at the start of the week, held near 100 week SMA (~115) for two days and then continued below 23.6% retracement of the 2011 - 2015 rally today. October 2014 high near 110 is the next…
It has broken below strong 115.50 - 116.00 support (now resistance) at the start of the week, held near 100 week SMA (~115) for two days and then continued below 23.6% retracement of the 2011 - 2015 rally today. October 2014 high near 110 is the next…
USD/JPY to trade lower in January
Monthly chart
The pair broke above a strong cluster of resistance (trendline that contained long-term downtrend in years 1986, 1990, 1998; 23.6% retracement of the 1982 to 2011 decline; 2007 high at 124.14). The pair retested the cycle-high (~125.85) in August before it sold off strongly amid concerns about global growth, China slowdown, oil prices and Fed tightening. It retraced most of the losses but has been unable to get above 124.00.
Weekly chart
In the last week of August the pair broke b…
The pair broke above a strong cluster of resistance (trendline that contained long-term downtrend in years 1986, 1990, 1998; 23.6% retracement of the 1982 to 2011 decline; 2007 high at 124.14). The pair retested the cycle-high (~125.85) in August before it sold off strongly amid concerns about global growth, China slowdown, oil prices and Fed tightening. It retraced most of the losses but has been unable to get above 124.00.
Weekly chart
In the last week of August the pair broke b…
USD/JPY at a crucial point - make or break time
Usd/Jpy and the crosses have been knocked down hard yesterday by Yen strength across the board,
Chinese economic trouble, bad data for US seem to be the combination of factors
why investors are selling off the Usd
Usd/Jpy now stands at a critical support point - just above 101.95, which is daily trendline;
a break of 101.95 will also take out the lows of Friday - 102,
and traders believe a long haul down, a final leg will subsequently evolve,
and more importantly, if this happens it will not onl…
Chinese economic trouble, bad data for US seem to be the combination of factors
why investors are selling off the Usd
Usd/Jpy now stands at a critical support point - just above 101.95, which is daily trendline;
a break of 101.95 will also take out the lows of Friday - 102,
and traders believe a long haul down, a final leg will subsequently evolve,
and more importantly, if this happens it will not onl…