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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Jpyanalysis
JPY could fall very SOON !# GoodChancesHey tradomaniacs,
Its the same old story 👉 The market awaits more inflation-data from the USA aswell as the European Central Banks meeting to get any hints for possible tighter monetary policy plans.
On thursday we get a bunch of important data, such as the U.S. initial jobless claims, U.S. CORE CPI and the ECB Interest Rate Decision which is probably a reason for the market to stay in its current ranges and continue the week with some choppiness.
I`m personally focusing on JPY-Trades today as I see a great chance coming here soon 👉
Looking at the JPY-BASKET we could get a trendcontinuation here very soon and so great chances to sell JPY against other pairs, auch as AUD/JPY, EUR/JPY aswell as GB P/JPY, where I see good opportunities coming soon.
Let`s see! =)
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Irasor
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JPY Update 10.24.2020The JPY is in the middle of a huge flag and building for a massive breakout by the end of next week. The JPY pairs should make a huge move this week. My personal trade of the week is the GBPJPY. The GBPJPY has a massive channel on the 4 Hour or Daily (see chart below). I will buy a bounce off of support. If support fails, I might sell, but I'll wait for strong confirmation.
Expect all JPY pairs to make a big move this week.
If you want access to the Currency Matrix used on this chart, you can get it here: tradevision2020.com
GBPJPY Buy zone ACTIVATEDAs shown on the chart, based on Elliot wave count, the corrective wave 4 has ended, this give an opportunity to trade the last motive wave 5.
This is in confluence with the 50 to 61.8 fib level of BC a 5-0 pattern, expecting to trade the D leg
The risk reward ratio is 3.7
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