i think the PCE result doesn't warrant a raise hike in July and so would be good for yen pairs to take a breather and pull back for now for a healthy correction but i could be wrong though. trade safe.
- #86,902
- Jun 30, 2023 2:53pm Jun 30, 2023 2:53pm
- Joined Jan 2019 | Status: Trader | 2,656 Posts
When USD/JPY was above 150, articles started coming out about USD/JPY potential for 160+ at least. Now, it really all depends on CPI in US. If we start to witness another surge in inflation in the US as in UK, then we can definitely talk about USD/JPY crushing 150, 160 and even more, because Fed and other CB's will have to start another cycle of raising interest rates. Then we're talking about even bigger gap of IR between Fed an BOJ. This will crush Yen if that happens. On the other case, if deflation is what's coming, then Yen will destroy every...
Fibs say 157. i think 155 ish. Let's say 155.55
Don't compare your trades to others. Most often the masses are the asses
- #86,903
- Jul 2, 2023 3:03pm Jul 2, 2023 3:03pm
- Joined Dec 2015 | Status: Trader | 8,751 Posts
USDJPY price action on the daily time frame is presently sideways but the preceding technical impulse is bullish. We may see further northward move in the early part of this week, which may see a bullish break of the145.580/146.800 daily supply (red) before a bearish correction.
I may be wrong. Trade safe and prosper.
KP
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
ISM Manufacturing PMI is due out at 10:00AM EST and the FF calendar forecasts it to be 47.2. My models suggest it may come in higher. I trained 5 separate machine learning models on regional PMI data for June and they all produced higher estimates for ISM PMI.
In full disclosure, these are brand new untested models with no hyperparameter tuning so I don't recommend making trading decisions based on this. Caveat emptor!
In full disclosure, these are brand new untested models with no hyperparameter tuning so I don't recommend making trading decisions based on this. Caveat emptor!
Greetings. And here, of course, there is no doubt, because the picture for a pair with the yen is really interesting, and for me it has been for a long time. And of course, I'm not saying that the breakdown of 145 was a false one, especially since we continue to have an upward movement on the daily charts. Although so far hung in a small range near the highs, but this may just be accumulation before the next jerk to the north. Moreover, the yen is also weak, but even here a lot will depend on the demand for the dollar, and it is important how the dollar will be traded today, because the Americans are already in the game, and then protocols come out.
But on the other hand, nothing changes for me anyway, because I myself, despite the upward movement, do not consider purchases. But I do not rule out the possibility that we can again reach 145 and still try to sell there, but only with a small stop.
But on the other hand, nothing changes for me anyway, because I myself, despite the upward movement, do not consider purchases. But I do not rule out the possibility that we can again reach 145 and still try to sell there, but only with a small stop.
- #86,911
- Jul 7, 2023 9:24pm Jul 7, 2023 9:24pm
- Joined Jul 2023 | Status: Aspiring trader | 1,132 Posts
- #86,913
- Jul 7, 2023 10:04pm Jul 7, 2023 10:04pm
- Joined Jul 2023 | Status: Aspiring trader | 1,132 Posts
- #86,918
- Jul 9, 2023 2:56pm Jul 9, 2023 2:56pm
- Joined Dec 2015 | Status: Trader | 8,751 Posts
USDJPY price action on the daily time frame turned bearish on Friday. Although we may see further bearish price action to an area of value in the early part of the week, price action is retesting a former resistance turned support at the 142.200/140.550 zone (blue). This may incentivize a bullish challenge.
I may be wrong. Trade safe and prosper.
KP
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money