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Japanese Yen WCO

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The Yen Crash Could be Finally Over.The Yen index trades at a really interesting level as we head into the BoJ rates decision. We're trading at the 1.61 extension of the previous bull trap. This is a big make or break level. A lot of consideration does have to be given towards the bear break. In a bear break the 1.61 hits. 1.27 often retests and then the 1.61 break. If that happens, Yen can capitulate hard. Very important risk to be aware of. However, if the 1.61 holds as support we might see a mean reversion move in this. Mean reversion move in the Yen index after this prolonged downtrend would spell sensational crash moves in XXXJPY. Very interesting decision to make in this zone. I think it sets the tone for the trend to either side. Lot of epic trade setups in the XXXJPY pairs in the event it's a Yen reversal.
TVC:JXYLong
by holeyprofit
Yen Bullish Three Drives PatternHow to identify the Three Drives pattern? The three drives harmonic pattern is identified by various three higher highs or lower lows. They gather in a reversal of the existing trend. Every move lower or higher is quantified by using the Fibonacci extension and retracement levels of 61.8 and 127.2 percent. In some instances, the definition of the 3-drive pattern may be expanded to include various Fibonacci retracement or extension levels, like a 161.8 percent extension rather than a 127.2 percent extension. The pattern also works without Fibonacci levels, but it may be less accurate. Bullish Three Drives pattern The pattern begins with a bearish swing to give traders their first drive. Traders can then notice a retracement higher into the 61.8 percent level of the first drive to give traders the A point. From here, the price turns lower again to give the second drive which should complete into the 1.27 percent extension of the first drive. From here, the price correct higher once more. It goes back up into the 61.8 percent retracement of the second drive to give us our B point. Then there will be one final push lower with price trading down to the 1.27 percent extension of the second drive to give a third drive that completes the pattern and offers a buying zone.
TVC:JXY
by SEYED98
9
JAPANESE YEN INDEXThe Japanese Yen index (JXY) has been on a long term bearish trend. Recent intervention by the BoJ has lifted the Yen. On the weekly charts, the Yen has broken a key level indicating a shift in order flow. Price is expected to push higher to mitigate supply zones. In the short term, we expect the Yen to decline before resuming the bullish move. Consequently, majority of cross Yen pairs will push higher as the Yen index moves lower. Thereafter we expect the Yen to strengthen possibly towards the end of 2024.
TVC:JXYLong
by morrisgitau
WHAT'S FLOWING: AUDCNH / CADCHF / EURNOK / XR1. AUDCNH Market Sentiment: AUDCNH is showing some weakness, with analysis pointing towards potential declines towards key support levels near 4.500. The pair seems to be struggling amid mixed global sentiment towards Chinese economic growth and fluctuating Australian dollar strength. Trade Idea: Monitor the short setup if the pair continues downward pressure, especially with upcoming data releases from both economies likely to increase volatility​. (TradingView) 2. CADCHF Market Context : CADCHF has been steady as commodity-linked currencies remain sensitive to global oil prices and risk sentiment. Any further pressure on crude oil could create potential opportunities to short the CAD against the more stable Swiss franc. Outlook: Traders should keep an eye on oil developments and geopolitical news, which could influence CADCHF movements and create breakout opportunities. 3. EURNOK Movement: The euro remains sensitive against the Norwegian krone, with EURNOK reacting to oil price shifts. Norway’s economy, reliant on energy exports, continues to benefit from oil price surges. As energy markets evolve, the krone could further strengthen, putting downside pressure on EURNOK. Strategy: Consider potential downside plays, especially as oil markets remain volatile and in focus this week. 4. XRPUSD Crypto Sentiment: XRP has been fluctuating, with its market performance influenced by broader cryptocurrency volatility. Over the past few months, XRP has shown resilience, with increased trading activity recently supporting slight upward movements​ (CoinMarketCap). Trade Setup: The token remains positioned for short-term speculative trades, with investors eyeing the 0.54-0.56 USD range as a key area to watch for potential breakouts or reversals.
TVC:JXY
by moneymagnateash
JPY overview.The overall theme will revolve around JPY weakness, AUD strength and CAD weakness. there are a few assets on my watchlist that did not close last week with huge delta, but I have included them in here because I think they have pulled back / consolidated enough for them to resume their trend and so I might look to get involved in them if and when opportunity presents. JPY in general - I see that it's weak and it should continue in that direction this week. I am going to post outlook on several key assets that I am looking to buy against JPY. another interesting thing that I observed last week was low volume. almost every asset had significantly low volume as compared to last week. especially JPY pairs as they sort of pulled back a bit and then buyers started to step in. JPY pairs had almost half volume last week as compared to the week before. this will give me a pause while looking for entries. not B or C grade setups for me this week. if I see normalcy coming in wrt volume this week, then I shall look to open up a bit in terms of taking B Grade entries.
TVC:JXYShort
by Osiris992
JPYAre you ready to embark on a profitable trading journey? Join us in seizing this golden opportunity by longing the yen. Here's your call-to-action: 1. Analyze the market: Conduct thorough research and analysis to understand the current market conditions and potential risks involved. 2. Develop a trading strategy: Create a well-defined plan that includes entry and exit points, risk management strategies, and profit targets. 3. Execute your trades: Open positions that reflect your trading strategy, longing the yen and going short on the US dollar/DXY. 4. Monitor and adjust: Keep a close eye on market movements and be prepared to adjust your trades if necessary. Stay informed and adapt your strategy accordingly. 5. Reap the rewards: As the yen strengthens and the US dollar/DXY might strengthen, watch your profits soar. Remember to stick to your plan and secure your gains when the time is right. Conclusion: Traders, the time to act is now! The potential for substantial profits awaits. Embrace this opportunity with enthusiasm and embark on a trading journey that could lead you to financial success. So, gear up, stay positive, and get ready to ride the waves of triumph!
TVC:JXYLong
by tadejolu
JPY : DON'T HAVE GOT A REVERSAL, STILL DOWNHello Traders, 📈 Daily chart review : - it still keeping downtrend on. - Price will retest at support zone again 📌News : BOJ continues to maintain negative interest rate policy 🎯In my trading opinion: If price moves nearby support and has a reversal, JPY may raise up next time. Now, xxxJPY can keep continue up on 📚 Remember that: Always follow your trading plan regarding entry, risk management, and trade management. Good luck!
TVC:JXYShort
by PhuThongTrader
JXY seasonality In the realm of market trends and seasonality, January in the JXY index has historically exhibited a remarkable 70% bullish bias. However, the current scenario defies this pattern, with the JXY index experiencing a decline exceeding 3% until January 22, 2024. The peculiar nature of January's bullish inclination in recent years can be attributed to the pivotal TOKYO CPI (Consumer Price Index) year-on-year data release during this month. Last year, the JXY index initially faced a downward trajectory in January, only to rebound following the release of the TOKYO CPI. This led to a positive shift, ultimately yielding an approximate 1% return. As the market eagerly anticipates the unfolding events, the upcoming TOKYO CPI data release on January 23, 2024, holds the potential to significantly influence the JXY index and shape the trajectory of its performance in the immediate future.
TVC:JXYEducation
by Trade_WithOsama
Japanese Currency Index: Harmonic Bottom with RSI ConfirmationThere is a Confluence of a Bullish Butterfly and a smaller Bullish Bat visible on the 5-day and Weekly timeframes on the JXY as the RSI ticks out of the oversold zone for the 4th time at this level while making higher lows each time. It would seem as if the JXY is confirming to us that it has reached a Harmonic Bottom and is preparing to rise up to some of the longer-term moving averages, with the highest being at around $89-$95. During this time, we have seen the JXY continue to strengthen against other non-USD currencies, but now it's starting to look like not only will the JXY rise but that the Yen will gain dominance against the Yen, and when this happens, I also expect the JGB Yields to rise significantly. So beyond my forex positions, I will be adding YCS puts to my list of Bullish JPY positions. YCS is a 2x Return of USDJPY so if JPY starts to go up from here, this ETF could really crash down fast.
TVC:JXYLong
by RizeSenpai
Potential BOJ Intervening on Yen Post-Federal Reserve MeetingIntroduction: In the ever-evolving world of currency trading, it's crucial for traders to stay informed about potential interventions by central banks. The recent Federal Reserve meeting has sparked speculation about the Bank of Japan's (BOJ) next move regarding the yen. This article aims to examine the likelihood of BOJ intervention and provide a cautious analysis to traders considering long yen positions. Understanding the Context: The Federal Reserve's policies and decisions often have a significant impact on currency markets worldwide. As the world's two largest economies, the United States and Japan share a complex relationship that can influence currency valuations. Following any significant developments in the US monetary policy, it is prudent to assess the potential response from the BOJ and its implications for the yen. Analyzing the Possibility of BOJ Intervention: While predicting central bank actions is inherently challenging, there are a few factors that warrant attention when considering the likelihood of BOJ intervention on the yen: 1. Exchange Rate Stability: BOJ's primary concern is maintaining stability in the yen's exchange rate. If the yen appreciates rapidly against major currencies, it may harm Japan's export-driven economy. In such cases, the BOJ may intervene to prevent excessive yen appreciation. 2. Economic Recovery: Japan's ongoing efforts to revive its economy have been met with mixed results. The BOJ may consider intervening to support economic growth, particularly if the Federal Reserve's policies threaten to weaken the yen significantly. 3. Global Market Sentiment: The BOJ closely monitors global market sentiment, as abrupt changes can impact the yen's value. If the Federal Reserve's decisions lead to substantial market volatility, the BOJ may intervene to stabilize the yen and mitigate potential risks. Call-to-Action: Long Yen with Caution Considering the aforementioned factors, traders contemplating long yen positions should exercise caution and adopt a measured approach. Here are a few suggestions to consider: 1. Stay Informed: Continuously monitor news and updates from both the Federal Reserve and the BOJ to anticipate any potential intervention. Being aware of economic indicators, policy statements, and market sentiment is crucial for making informed trading decisions. 2. Technical Analysis: Utilize technical indicators and chart patterns to identify potential entry and exit points for yen positions. Combining technical analysis with fundamental factors can help traders navigate the market with a more comprehensive approach. 3. Risk Management: Implement robust risk management strategies to protect your capital. Setting stop-loss orders and diversifying your portfolio can help mitigate potential losses in case of unexpected market movements. Conclusion: While the possibility of BOJ intervention on the yen after the Federal Reserve meeting cannot be ruled out, traders should approach long yen positions with caution. By staying informed, conducting thorough analysis, and implementing effective risk management strategies, traders can navigate the currency markets more confidently. Remember, the key to successful trading lies in a balanced and informed approach. asia.nikkei.com/Business/Markets/Currencies/Yen-intervention-watch-redoubles-after-Fed-BOJ-meetings Disclaimer: This article is for informational purposes only and should not be considered as financial advice. Traders are advised to conduct independent research and consult with professional advisors before making any investment decisions.
TVC:JXYLong
by bryandowningqln