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    Thread: Trade Hint on USD/JPY

    1. #1
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      Default Trade Hint on USD/JPY

      The Greenback traded higher yesterday against the Yen as investors’ appetite sharpened to riskier assets due to the recovery in global stocks. The safe haven could not consolidate on the gains recorded on Monday as risk aversion waned. Hence, the instrument closed bullish as it continued the surge off a support at 108.419.

      Yesterday’s High: 109.695

      Yesterday’s Low: 108.437

      That is 108 pips movement

      Today, the instrument opened above the pivot and is surging towards a resistance on the 1H, 4H, and daily chart. Average Cash Earnings released by the Ministry of Health, Labour and Welfare in Japan showed a growth in the total value of employment income collected by workers in the country is expected to strengthen the safe haven currency today ahead of the release of the speech by William Dudley, President of the Federal Reserve Bank of New York by 1:30.pm GMT. With the current strength of the Yen, a bearish (sell) trend is envisaged pending the expected speech.

      Use your initiative well


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    3. #2
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      Quote Originally Posted by expose View Post
      The Greenback traded higher yesterday against the Yen as investors’ appetite sharpened to riskier assets due to the recovery in global stocks. The safe haven could not consolidate on the gains recorded on Monday as risk aversion waned. Hence, the instrument closed bullish as it continued the surge off a support at 108.419.

      Yesterday’s High: 109.695

      Yesterday’s Low: 108.437

      That is 108 pips movement

      Today, the instrument opened above the pivot and is surging towards a resistance on the 1H, 4H, and daily chart. Average Cash Earnings released by the Ministry of Health, Labour and Welfare in Japan showed a growth in the total value of employment income collected by workers in the country is expected to strengthen the safe haven currency today ahead of the release of the speech by William Dudley, President of the Federal Reserve Bank of New York by 1:30.pm GMT. With the current strength of the Yen, a bearish (sell) trend is envisaged pending the expected speech.

      Use your initiative well
      This is trading based on fundatmental technique?
      It's very hard to do because for new traders must learn how and why the price move from the sources like news and other think.
      Why is not chart from you? This is can be a good lesson for everyone to learn too.


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      PhantomTrader79 (02-09-2018), Unregistered (2)

    5. #3
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      Default

      Quote Originally Posted by expose View Post
      The Greenback traded higher yesterday against the Yen as investors’ appetite sharpened to riskier assets due to the recovery in global stocks. The safe haven could not consolidate on the gains recorded on Monday as risk aversion waned. Hence, the instrument closed bullish as it continued the surge off a support at 108.419.

      Yesterday’s High: 109.695

      Yesterday’s Low: 108.437

      That is 108 pips movement

      Today, the instrument opened above the pivot and is surging towards a resistance on the 1H, 4H, and daily chart. Average Cash Earnings released by the Ministry of Health, Labour and Welfare in Japan showed a growth in the total value of employment income collected by workers in the country is expected to strengthen the safe haven currency today ahead of the release of the speech by William Dudley, President of the Federal Reserve Bank of New York by 1:30.pm GMT. With the current strength of the Yen, a bearish (sell) trend is envisaged pending the expected speech.

      Use your initiative well
      Welcome to the forum mate!
      What kind of trading strategy is this?
      Do you have any update on your trading strategy or whatever it is that you are looking for to enter a trade?


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    7. #4
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      yes right now many traders are happy that the japanese yen is taking its own toll on the other Forex pairs because they have been taking their own toll on the Japanese yen for a long time and now that the Japanese yen is doing its own then some people have started to complain.


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      Japan is a big country in regards to economy.
      But the origins of the big economy size is from their exports. Domestic demand is not that much because the size of population is not that big.
      So for an export country they want to have a lower or not too strong currency because if the value of their currency is big then there will be less export because their goods will become more expensive and the buyers will find other supplier.


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    11. #6
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      Quote Originally Posted by 22gost** View Post
      yes right now many traders are happy that the japanese yen is taking its own toll on the other Forex pairs because they have been taking their own toll on the Japanese yen for a long time and now that the Japanese yen is doing its own then some people have started to complain.
      Back then the BoJ used to intervene in their forex market to try to bring down the value of their currency JPY.
      And yes, Anthony Cheung is correct. Japan depends heavily on their export so they prefer to have a weak JPY than a strong one.


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    13. #7
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      Quote Originally Posted by Anthony Cheung View Post
      Japan is a big country in regards to economy.
      But the origins of the big economy size is from their exports. Domestic demand is not that much because the size of population is not that big.
      So for an export country they want to have a lower or not too strong currency because if the value of their currency is big then there will be less export because their goods will become more expensive and the buyers will find other supplier.
      Yes, I think also that the Japan is a big country because they have great technology so advance to make many thing.
      But China is now getting bigger too in economy and Japan could make trade deals with them too.


    14. #8
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      USDJPY is currently down nowadays. JPY is stronger than US dollar, however it wont stay that way for long. A possible rise is coming for this pair, maybe this week or next week dollar will find its footing once again. For now it's a good buy at my end.
      No Guts No Glory!


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    16. #9
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      Quote Originally Posted by Warren Bafett View Post
      USDJPY is currently down nowadays. JPY is stronger than US dollar, however it wont stay that way for long. A possible rise is coming for this pair, maybe this week or next week dollar will find its footing once again. For now it's a good buy at my end.
      Yes because market is alway unpredictable in the movement of the market. Soemtimes it's down but sometimes it's up.
      There is no way to say for sure because we don't onctrol the market so we can't say 100% about it.


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      Quote Originally Posted by Warren Bafett View Post
      USDJPY is currently down nowadays. JPY is stronger than US dollar, however it wont stay that way for long. A possible rise is coming for this pair, maybe this week or next week dollar will find its footing once again. For now it's a good buy at my end.
      What is playing out on the USDJPY pair is basically about risk aversion and i am of the opinion that there should be some technical levels to look at before i can favour the upside on this pair, as for me if the price should break below the support level around 107.20 on the daily timeframe i will be looking for continued downtrend to the next support level which is at around 105.40. But the market has the final say.


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