[Forex Cycle]

USDJPY Analysis: Pullback and Support Levels

USDJPY has experienced a retracement from 151.81 to a low of 150.26, with the pair now testing the support of the ascending trend line on the 4-hour chart.

If the trend line support remains unbroken, the current pullback from 150.26 could be interpreted as a period of consolidation for the uptrend starting from 146.47. In this scenario, there is still potential for further upward movement towards the 170.00 area after the consolidation phase.

The key support level to monitor is at 150.26. If the price falls below this level, it could indicate the potential completion of the uptrend that initiated from 146.47, with the next target set at the 149.00 area.

[Belgrade Knez]

only MA that I am using is 89ema ….. work as a charm on any time frame!

[Mtl JP]

EURO 1.0901
–
Sup (or trgt as one may please) at 200day

[Belgrade Knez]

could we see EU closing tomorrow below 1.0800?!?!

 

[GVI Forex]

USDCHF DAILY CHART

I had to go to a daily chart to find key levels after the surprise SNB rate cut.

Breakout through .8892 suggests support on dips while above it.

Hard to chase a reaction so look at shorter time frame charts to trade this pair once the dust settles.

[Swiss Frank]

Surprise

[Mtl JP]

US 10-YR 4.237% -0.034 LAST 5:01 am edt

jerome and fomc participants:
stirring the pot, unleashing john mayrand’s “animal spirits”

[GVI Forex]

GBPUSD 3 HOUR CHART

While no change in rates is expected from the BOE, it pays to stay alert following the volatility after Central Bank meetings this week.

See key levels on both sides on this 3 hour chart.

[GVI Forex]

EURUSD lower

EUR Flash PMI misses on the downside

See our Economic Calendar

[GVI Forex]

SNB cuts key policy rate by 25 bps to 1.50% from 1.75%

[GVI Forex]

BOJ chief vows to keep monetary stimulus, nods to price momentum

Summary (Reuters)
BOJ will slowly scale back bond buying, balance sheet, Ueda says
Waiting too long for exit could have led to inflation overshoot
Ueda repeats BOJ will keep accommodative monetary conditions
Finance minister warns watching yen moves with sense of urgency
Japan exports rise, business confidence improves

[GVI Forex]

A look at the day ahead in European and global markets from Tom Westbrook

Central bank meetings in Sydney, Washington and Tokyo concluded this week with, respectively, few surprises, little changed and a total but expected revolution in policy.

Morning Bid: Three meetings down, bring on the rest

[wfakhoury Amman]

GBPUSD
Jay, you can say, Incredible call.

[wfakhoury Amman]

GBPUSD
The price moved successfully, exactly as per my weekly signal, between 12690 and 12802.

[SF Monedge]

Hi hk, glad you are here.  Great place to be.

[SF Monedge]

BoJ just mouthed off about Yen levels as I expected this morning.  Do not buy UsdJpy.

[Ab hk]

After 3 rate cuts, we could still be well above 4….

[Ab hk]

To be honest, I don’t quite like the new platform. It seems the posting is not as stable.
Gold has been under many concerted effort let’s see how many lies can be covered before the Bubble bursts. First should be stocks.

[Ab hk]

Hi everyone, first post here. I am hk ab

[SF Monedge]

My colleagues are of the view June USD and June Yen futures remain Buyer controlled, so the view is any price dips can be confidently bought.  Conversely June Euro and Pound futures remain Seller controlled and so any rallies can be confidently sold.

[Author]

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