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No Stopping the Yen Pairs

Jignesh Posted 16 Nov  in #Trader's blog #Usdjpy #Eurjpy #Nzdjpy
The Japanese Yen strengthen at the start of the week as it took it's well known form as a safe haven. Gold as well caught a strong bid, but it appears the momentum was short lived. The majority of the Yen pairs have already reversed it's trends.
A possible reason for it could be the expectation for an announcement of further stimilus from the BOJ this week.
On Wednesday and Thursday we are set to hear from the BOJ. They are expected to release their monetary policy statement, as well as a press …
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EURJPY Struggles at 61.8% Fib Level

Jignesh Posted 5 Giu  in #Trader's blog #Resistance #Eurjpy #Fibonacci Levels
In today's NFP we've seen the USD strengthens once again on the back of a strong NFP number. Unemployment however ticket up 0.1 point. The USDJPY saw some decent gains, the EURJPY however struggled to break highs.
At the moment the pair is facing the 61.8% retrace of the last leg down, and has drawn two consecutive daily Doji's against this level showing some indecision around this area.
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EURJPY against rising trendline ahead of CPI

Jignesh Posted 27 Nov  in #Trader's blog #Eurjpy
The JPY pairs have been losing steam this week and struggling to make new highs flowing into the end of the month.
On the 15m TF the pair is stuck between the 50% retracement of the last leg down and a trendline dating back towards the start of the bullish move.
On the docket is some CPI data out of Spain, but more importantly out of Germany. There will be several releases throughout the day that can cause some volatility. Bear in mind, the forecast number is quite high considering the economic …
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Fading EURO Weakness through the Yen

Jignesh Posted 6 Nov  in #Trader's blog #Ecb #Eurjpy
The most anticipated event of the week, The ECB Press Conference, has completely with a bearish impact. The outcome was mostly expected in the market as retail traders and bankers alike were positioned on the short side.
There are however some currencies at the moment, which I believe to be weaker then the Euro. The scandies for one (NOK & SEK) but also the JPY which has been in focus as of late.
I have decided to take a long position to try and take advantage of the price differential caused by…
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EURJPY continues up trend after ABC correction

Jignesh Posted 31 Ott as Analysis on EUR/JPY, Target: 148.4100, Date: 1 di Dicembre, 12:00 GMT  in #Technical analysis #EUR/JPY #Fundamentals #Bullish #Eurjpy #Elliott Wave #Wave Count #Abc Correction
The BOJ has triggered buying once again in the xxxjpy pairs as they have reaffirmed further QE measures to be taken.
The pair has also completed a 3 wave correction against the main trend which has lasted close to 1 year now.
Levels
134.00 - Yearly low and bullish invalidation point
141.22 - Resistance and previous completion area for b wave of smaller degree
143.00-143.50 - Resistance zone
148.41 - Equal legs target
The first chart below shows the simple ABC corrective wave structure which is …
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Jignesh 17 Nov

The pair continued higher last week.  After some hesistation around the mentioned resistance zone of 143.00-143.50 it managed to close the week touching multi year highs at 146.50. 
This week we are seeing strong selling which has been typical to start the week, however, the basis is on a JPY risk event and may carry some weight.

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Jignesh 25 Nov

EURJPY continued it's rally last week to touch the resistance area and target marked in the analysis.  The equal legs area which also confluences a 127% extension provided sufficient resistance for the pair for a larger move lower.  Timing wise the pair has reached the area ahead of the time expected and will continue to see if the pair will consolidate in this area.  So far 145.65 which marks the 2013 high has managed to support the pair

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Jignesh 27 Nov

On the smaller cycles, the pair is stuck between the 50% retracement of the last leg down and a longer term trendline.  On the docket today is CPI data from Spain and Germany.  The German number has been forecast quite high in comparison to the overall inflation levels.  Will be keeping a close eye on the trendline which while supported has potential to bring the pair back towards targets.

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Jignesh 28 Nov

The bullish move has occured.  Next on the docket is EUR CPI Flash Estimate.  This number usually comes in line but has the potential to cause some major volatility in the pair, especially if it comes in negative.  This number is the last risk event prior to the target date.

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Jignesh 1 Dic

After faking out of the trendline the pair has once again shown clearly that the uptrend has most likely resumed.  With USDJPY leading the way breaking to new highs to start the week, the outlook on this pair is positive.  The chart indicates 147.947 as previous resistance which should act as support for the day.  To the upside we have 148.34 which is the resistance level (highest close on the Daily chart).  The pair can reasonably consolidate in this range prior to the NY Open.

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EURJPY 1H Upside breakout

Jignesh Posted 28 Ott  in #Article Contest #Eurjpy #Bollinger Bands
The EURJPY has been on a breakout to the upside in the 1H chart. The image below depicts a typical Bollinger Band breakout that I have described in my submission to the article contest this month.
5 Profitable Setups through Bollinger Bands - If you have not read it, click on the link to see the setups described.
This 1 Hour chart shows the typical contraction/squeeze/breakout as described in the article. What we are seeing now, is the potential of a double top/ M top formation forming against t…
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USD, JPY, EUR & GBP Moves on Jackson Hole

Jignesh Posted 25 Ago  in #Trader's blog #Gbpusd #Eurjpy
The recent meeting held by the central banks revealed some interesting changes to monetary policy from some areas, where it was business as usual in others
USD - Yellen did not say anything unusual to what she has been saying for some time. She is remaining firm that the market should not expect interest rates to come soon, as it will be determined by jobs data, which has room to improve.
The USD did rally however. A possibility is that the market largely expected her to be dovish. Her speech wa…
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