What Will Happen with the Euro? An Economic Perspective.
eurusd-is-falling-what-to-expect-from-the-future-price-movement
Will JPY recover in April?
Information is not investment advice
Japan's new central bank governor, Kazuo Ueda, isn't planning drastic ultra-low interest rate policy changes. He's all about maintaining stability in prices and financial systems in the world's third-largest economy. And why not? According to Ueda, Japan's financial institutions aren't facing the same turmoil as their counterparts in the US and Europe. Plus, he's taking over from his predecessor, Haruhiko Kuroda, whose work he's determined to continue. On the charts, however, we have seen currencies like the Pounds and the Euro outperforming the Yen - can we expect any changes soon?
GBPJPY - Daily Timeframe
GBPJPY is trading within a rising channel while approaching a rally-base-drop supply zone. We also see the price action to the left presenting a strong case of an AMD (Accumulation-Manipulation-Distribution) pattern. I expect a bearish price reaction from the intersection of the trendline resistance and the supply zone.
Analysts’ Expectations:
Direction: Bearish
Target: 164.674
Invalidation: 168.900
CADJPY - Weekly Timeframe
In the case of CADJPY, we see a consolidation inside the descending channel, and the price is currently approaching a rally-base-drop supply zone which aligns perfectly with the trendline resistance of the channel. When we consider the fact that the price has only recently created a lower low after surpassing the previous low at 94.739; I believe there should be some bearish reaction from the supply zone.
Analysts’ Expectations:
Direction: Bearish
Target: 96.070
Invalidation: 100.948
EURJPY - Weekly Timeframe
EURJPY was a bit troublesome to look at. Too many wicks made it difficult to figure out the exact area of the supply zone. However, I've had to make do with the pivot zone on the weekly timeframe, which I confirmed based on the Fibonacci retracement levels. Based on this scarcity of multiple confluences, I would scan for a clear break of structure, in whatever direction, on the lower timeframes (4 Hours and Daily).
Analysts’ Expectations:
Direction: Bearish
Target: 141.997
Invalidation: 148.530
USDJPY - Daily Timeframe
The market structure (lows and highs) on the USDJPY chart says one thing, whereas the momentum is visibly rebelling against that direction. I'm saying this because the price action following the most reaction from the trendline support failed to deliver impressive momentum. As a result, I have marked out the demand zone that intersects the trendline support, and I will be taking special interest in the reaction at or within that demand zone. This means a clear breakout in either a bullish or bearish direction would be my trade trigger.
Analysts’ Expectations:
Direction: Bullish
Target: 130.154
Invalidation: 136.100
CONCLUSION
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
Legal disclaimer: The content of this material is a marketing communication, and not independent investment advice or research. The material is provided as general market information and/or market commentary. Nothing in this material is or should be considered to be legal, financial, investment or other advice on which reliance should be placed. No opinion included in the material constitutes a recommendation by Tradestone Ltd or the author that any particular investment security, transaction or investment strategy is suitable for any specific person. All information is indicative and subject to change without notice and may be out of date at any given time. Neither Tradestone Ltd nor the author of this material shall be responsible for any loss you may incur, either directly or indirectly, arising from any investment based on any information contained herein. You should always seek independent advice suitable to your needs.
Similar
Will Australia's "Rampant Inflation" Prevail in May?
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
How Will BoJ Meeting Affect the Yen
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus
Popular
What Will Happen with the Euro? An Economic Perspective.
eurusd-is-falling-what-to-expect-from-the-future-price-movement
Will Australia's "Rampant Inflation" Prevail in May?
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
How Will BoJ Meeting Affect the Yen
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus
Choose your payment system
