Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

FXTechstrategy Team

Special Focus On USDJPY

Recommended Posts

USDJPY: Broader Bias Points Lower.

 

USDJPY: The risk continues to point to the downside as USDJPY holds on its medium term downside bias. This leaves USDJPY targeting the 77.88/66 levels. A violation of here will aim at the 77.00 level, its psycho level. Below here will call for more declines towards the 77.35 level and then the 76.49 level. Its daily RSI is bearish and pointing lower suggesting further declines. On the upside, the pair must break and hold above the 79.64 level to annul its present bearishness. This could push the pair further towards the 80.59 level where a breach will turn attention to the 81.77 level. All in all, USDJPY remains biased to the downside with risk towards its key support.

 

usdjpy2200000000000.gif

Share this post


Link to post
Share on other sites

USDJPY: Though facing corrective recovery threats triggered from the 77.13 level, it continues to hold on to its medium term downtrend. As long as it continues to hold below its falling trendline (red), this view remains valid. This leaves the risk of a return to the 77.13/00 levels on the cards. Below here will call for more declines towards the 76.49 level and then the 76.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, the pair must break and hold above the 79.64 level and its declining trendline to put on hold its medium term downtrend. This could push the pair further lower towards the 80.59 level where a breach will turn attention to the 81.77 level. All in all, USDJPY remains biased to the downside medium term despite its current recovery attempts.

 

usdjpy2200000000000.gif

Share this post


Link to post
Share on other sites

USDCAD: Shooting Star Candle Surfaces.

 

USDCAD: The pair may have closed higher on Thursday but left a lot to be desired after it printed a shooting star candle pattern. This candle pattern is both negative and upside reversal signal suggesting the pair may have ended its correction. This will leave USDCAD targeting the 0.9692 level where a violation will call for more declines towards the 0.9631/00 levels. A break will aim at the 0.9500 level and possibly the 0.9450 level. Alternatively, the pair will have to return above 0.9815 level to resume its correction. Further resistance lies at the 0.9945 level. This if seen could propel it further towards the 1.0000/83 levels. All in all, the pair remains biased to the downside in the medium term though facing recovery risks.

 

usdcad20000.gif

Share this post


Link to post
Share on other sites
USDCAD: Shooting Star Candle Surfaces.

 

USDCAD: The pair may have closed higher on Thursday but left a lot to be desired after it printed a shooting star candle pattern. This candle pattern is both negative and upside reversal signal suggesting the pair may have ended its correction. This will leave USDCAD targeting the 0.9692 level where a violation will call for more declines towards the 0.9631/00 levels. A break will aim at the 0.9500 level and possibly the 0.9450 level. Alternatively, the pair will have to return above 0.9815 level to resume its correction. Further resistance lies at the 0.9945 level. This if seen could propel it further towards the 1.0000/83 levels. All in all, the pair remains biased to the downside in the medium term though facing recovery risks.

 

usdcad20000.gif

 

 

is that 200-day MA?

and what about fundamental side of analysis?

Share this post


Link to post
Share on other sites

USDJPY: As referenced in our previous analysis of the possibility of the pair failing at or ahead of its trendline resistance (red), we are currently seeing that happening. This development has turned the risk lower with the possibility of recapturing its key support at the 77.13/00 levels. A cut through here will target further declines towards the 76.49 level and then the 76.00 level. Its daily RSI is bearish and pointing lower suggesting further declines. On the upside, the pair must break and hold above the 79.64 level to halt its broader bearishness. This if seen could push the pair further lower towards the 80.59 level where a breach will turn attention to the 81.77 level. All in all, USDJPY remains biased to the downside in the medium term.

 

usdjpy2200000000000.gif

Share this post


Link to post
Share on other sites

USDJPY: With USDJPY continuing to be weak and vulnerable, further declines cannot be ruled out. As long as it holds below its falling trendline (red), this view remains valid. This leaves the risk of an eventual return return to the 77.13/00 levels on the cards. Below here will call for more declines towards the 76.49 level and then the 76.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, the pair must break and hold above the 79.64 level and its declining trendline to put on hold its medium term downtrend. This could push the pair further lower towards the 80.59 level where a breach will turn attention to the 81.77 level. All in all, USDJPY remains biased to the downside medium term despite its current recovery attempts.

 

eurusd200000.gif

Share this post


Link to post
Share on other sites

USDJPY: The pair is now seen back above its falling trendline and targeting the 79.64 level. USDJPY will have to hold above here on a daily closing basis to convince the market of further upside gains. This if seen could push the pair further higher towards the 80.59 level where a breach will turn attention to the 81.77 level. Alternatively, a failure to hold on to its present upside offensive could mean a return to the 77.13/00 levels. If however, this fails, expect USDJPY to weaken further towards the 76.49 level and then the 76.00 level. All in all, USDJPY faces further bull pressure.

 

usdjpy2200000000000.gif

Share this post


Link to post
Share on other sites

USDJPY: With a follow through higher currently seen and a break above the 79.64 level occurring, further bullish offensive is expected. This development will leave USDJPY targeting its psycho level at 80.00 level where a breach will turn focus to the 81.77 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at the 79.64 level initially where we may see a reversal of roles. However, if this level breaks, expect the pair to decline further towards the 78.63 level. Further down, support resides at the 77.13/00 levels with a cut through here targeting further declines towards the 76.49 level. All in all, USDJPY remains biased to the upside short term

 

usdjpy2200000000000.gif

Share this post


Link to post
Share on other sites

USDJPY: The pair has triggered its bullish offensive and presently threatens further upside. As long as the pair holds above the 79.64/21 levels, its broader upside bias remains intact. With that said, further strength is now likely towards the 80.59 level where a breach will turn attention to the 81.77 level. Its daily RSI is bullish and pointing higher supporting this view. Alternatively, a failure to hold on to its present upside offensive could mean a return to the 79.64/21 levels. Further down, support lies at the 77.13/00 levels. If however this fails, expect USDJPY to weaken further towards the 76.49 level. All in all, USDJPY faces further bull pressure.

 

usdjpy2200000000000.gif

Share this post


Link to post
Share on other sites

USDJPY: With a second day of upside offensive seeing the pair breaking and holding above the 80.65 level to resume its medium term uptrend, further strength is envisaged. The 81.00 level is now being targeted with a violation of here opening the door for a run at the 81.77 level and possibly higher towards the 82.00 level. Alternatively, a failure of the 79.21/09 levels to hold could trigger further declines towards the 78.00 level. Further down, support lies at the 77.13/00 levels. All in all, USDJPY still faces corrective threats.

 

usdjpy2200000000000.gif

Share this post


Link to post
Share on other sites

USDJPY: With USDJPY bullish and threatening further upside, a move higher possibly towards look the 82.82 level is likely. A breach of here will resume its broader medium term uptrend. Further out, resistance resides at 83.30 level, its April 02’2012 high. On the downside, support comes in at the 81.67 level where a respite may occur and turn it higher again. Below here if seen could expose the 80.65 level where a reversal of roles is likely to occur. However, a violation of here will call for a run at the 79.21/09 levels. All in all, USDJPY continues to retain its medium term uptrend.

 

usdjpy2200000000000.gif

Share this post


Link to post
Share on other sites

USDJPY: The pair has resumed its medium term uptrend after ending its corrective recovery. This leaves the pair targeting further upside towards the 84.50 level. Above here will bring further upside offensive towards the 85.00 level and then the 85.80 level, its weekly ema. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 83.30 level, its April 02’2012 high. A cut through here will set the stage for more declines towards the 82.82 level where a reversal of roles should occur and turn it higher. However, if this fails to happen, expect further declines to develop towards the 81.67 level where a respite may occur and turn it higher again. All in all, USDJPY continues to retain its medium term uptrend.

 

usdjpy2200000000000.gif

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • VRA Vera Bradley stock watch, pull back to 5.08 support area at https://stockconsultant.com/?VRA
    • MU Micron stock watch, pull back to 102.83 gap support area with high trade quality at https://stockconsultant.com/?MU
    • ACLX Arcellx stock watch, trending at 84.6 support area with bullish indicators at https://stockconsultant.com/?ACLX
    • Here’s something few are talking about: The Chinese are printing money like it's going out of style. Not that you'd hear about it in the mainstream news. But Bitcoin knows.   Bitcoin always knows.   Here’s the thing…   When the Chinese government prints money to paper over the cracks, their smart money doesn't sit around waiting to get devalued.   It usually flows into three things: Bitcoin, gold, and dollars.   After years of being beaten down, gold's having one of its best years in decades. But here's the secret -- whatever gold does, Bitcoin's going to do it bigger.   Much bigger.   Since last November, when China started their printing spree, Bitcoin's been moving in near-perfect correlation with the People's Bank of China's balance sheet. Over 80% correlation, maybe even 90%.   Again, few are talking about it.   But here's why this matters right now: This could be the beginning of a huge breakout in the crypto markets.   Bitcoin broke above its July high, and historically, that's led to new all-time highs over 90% of the time. The only times it failed? COVID and the 2022 bear market.   That's it.” – Chris Campbell   Profits from free accurate cryptos signals: https://www.predictmag.com/     
    • Originally Answered: How can I compete with people who are better than me in every way?   So you want to outcompete people who are smarter, better looking and more experienced than you?   No problem!   All you have to do is outwork them.   Will Smith said, "if we both get on a treadmill either you're going to get off first or I'm going to die trying."     Most people just aren't willing to work that hard. Sure, they'll show up for the job interview and maybe practice in front of the mirror for a few minutes, but they won't do hours and hours of research and prepare for weeks. They won't wake up early and stay up late working on their dreams.   So while all those smart, good-looking, experienced people are waiting around for the next opportunity to come their way, you can outwork them and create your own opportunities.   In a few years, you'll be that "smart" person everyone looks up to. But you'll be different. You'll know it was your hard work, your inner strength and your commitment to living a great life that made you successful and brilliant - not luck or good genes.” – Tom Corson-Knowles, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/   
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.