Tag Archives: JPY

USD/JPY Bearish X-Cross Within 111.20 Zone

Nenad Kerkez

The USD/JPY has been dropping lately, but it has been more of a slow grind than momentum surge. During this slow grind, the price has established a POC zone within 111.15-30 (D H4, 38.2, inner trend line, EMA89, ATR Pivot). X-Cross ™ represents the cross of a trendline with an important pivot point or fib level. In this example we have both fib level and a camarilla pivot, so my assumption is that the X cross is strong. Rejections should aim for 110.65. Break of 110.65 aims for 110.36 and 110.17. more…

Macron’S Triumph Removes Eurozone Political Risk

Daud Bhatti

Emmanuel Macron won the presidential election last Sunday, defeating Marine Le Pen, a far-right nationalist who wanted to take France out of the European Union. Markets had feared that Le Pen’s win could threaten the EU project, but Macron’s win has eliminated uncertainty regarding France’s membership of the Euro and removed the risk of near-term severe political shock to France and wider Europe. The Euro went above $1.10 briefly, but since then has pulled back. The upwards move was not dramatic than the first round of French elections as many traders have anticipated Macron’s victory and thus victory was already well priced in. more…

EUR/JPY Huge Marubozu After French Elections

Nenad Kerkez

The EUR/JPY had formed a huge marubozu candle (purple highlight) on 4h time frame after it was announced that Emmanuel Macron won the first round of the French presidential elections. If you followed my Price Action Trading School, than you should know that marubozu candle appears during high momentum in the market. Equities and EUR/USD went bullish, especially CAC40 as I predicted and analysed in the blog post before the elections. more…

Elliott Wave Analysis: EURCAD And NZDJPY

Gregor Horvat

EURCAD: Current fall below wave A) swing low suggests that EURCAD can be in wave C) already which may continue south to 1.4100 or maybe even to 1.3930 ideal target. However, we must keep in mind that this is a corrective pullback from 1.4598; it’s a contra-trend move that will sooner or later send price back to bullish mode. Bounce in small five waves back to 1.4300 will put prices back in uptrend. more…

USD/JPY De-Risking Ahead Of Trump-Xi Meeting

Nenad Kerkez

As shown on Live Trading Session yesterday, the USD/JPY fell as expected due by overnight sell off in equities. Equities dropped due to de-risking ahead of Trump-Xi meeting, so we might see another bearish rejection on retracement. The POC 110.80-95 ( D H3, EMA89, ATR Pivot, trend line) could reject the price towards 110.18. Break below it should target 109.77 – the strongest daily support. more…

USD May Stay Soft In Near Term

Daud Bhatti

Although the Fed is in the rate hike cycle, USD rally started to lose momentum early this year when market started to realize that monetary policy divergence started to narrow. ECB has started to talk about rate hikes, while China started to tighten monetary policy by raising money market rates early last month. The Fed also sounded less hawkish in their last rate hike as they forecasted only three rate hikes this year and no Fed members agreed to hike rate four times. more…

USD/JPY Master Candle Setup On Intraday Chart

Nenad Kerkez

As we could see on Live Trading Session yesterday both EUR/USD and USD/JPY went in profits. The USD/JPY long from 113.36 tested 113.65 providing approximately 30 pips before FOMC tanked the price.The chart shows previous Master Candles and their respective breakouts. At this point we can see that a Master Candle (MC) has been formed on H1 timeframe. The 1st, 2nd and 3rd candle (after the MC candle has been confirmed) haven’t made any breakout so we need to wait for a price push that might happen around 13:30 after US Employment Claims. Watch for either 113.65 breakout towards 113.80 and 114.15 or 112.94 breakout towards 112.78 and 112.48. Ideally price should proceed above H4 or below L4 to reach its final targets. The ATR of last 14 days is 96 pips. more…