USDJPY 4 Hour Chart – Uptrend consolidating
150.00 is the bias-setting level going forward.
4-hour Levels are very clear
Sup: 148.92/149.52/149.82
Res: 140.65/150.88
Note, USDJPY tends to be most sensitive currency to moves in US bond yields
Scross down the forum to see USDJPY analysis from ForexCycle
EURUSD
From yesterday’s Week Ahead :
EURUSD Week Ahead
Resistances at : 1.07900 , 1.08350 and 1.09250
Supports at : 1.07400, 1.07200 and 1.06950
Pattern wise, Resistance at 1.07900 should Hold, and Down move should continue…
They came, they touched and they bumped ( 1.07894)
We need it to go through 1.07500 to confirm the pattern and continue down.
Let’s see how it’s played…
gooddy gooddy … just like the FED likes it:
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CNBC Daily Open: Fears over yet another hot inflation gauge
sofar quiete on the trading front
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Trump says truckers boycotting driving to New York City are great patriots
This article is worth trading as it covers the week ahead
Morning Bid: China markets look like they need another holiday
USDJPY Analysis: Uptrend Continues, Resistance and Support Levels
The USDJPY pair is currently within a rising price channel on the 4-hour chart, indicating that the pair remains in an uptrend from 145.89.
As long as the channel support holds, the upside move is likely to continue. A breakthrough of the 150.88 resistance level could potentially take the price towards the 151.90 resistance level.
On the downside, a breakdown below the channel support could bring the price to test the 149.52 support level. If the price breaks below this level, it would indicate that the upside move has already completed at 150.88, and the next downside target would be around the 147.50 area.
player sentiment heading into new week
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Just one of a number of a gathering of similar takes I have read over last few days about the market:
‘Peak Euphoria’ Warning Blares as Stress Vanishes on Wall Street
(Bloomberg)
…Fed officials seem sanguine about it all, and indicate that the next move is a cut, just further out. … “A hot CPI woke markets up to the fact that risks are two sided. But still, mindsets are hard to change, as most people anchor to recent history,” the firm’s team including Christopher Metli wrote in a note.
Technically, there a number of instruments in the “overbaught” territory. In itself not a strong sell signal, just a prescient one without a precise timing.
EURUSD daily chart – major trend down but consolidating
1.0805 is the key level as it appears not just on the daily but on multipole time grant charts
There is a trendline at 1.0793 but 1.0805 is the key on top.
Only a firm break and 1.08+ then being established would suggest the low (1.0696) is ion for now.
Take your pick of support within 1.07-1.98 with 1.0730 being the only one worth noting ahead of the key low.
JP// Wanna know why USA is the greatest economic superpower in the world…
Answer: the FED. That organization is the one who took responsibility for you and by putting money into your pocket, they have given you such a good life… Do you appreciate that?
Go along… according to the long term financial visions of the harbingers of sound economic policy…
Think Modi is the reason for India’s growth story?… No… it is RBI… they were around and working on the long term visions for the country long before Modi entered politics…
Gold
Looking as ready to fly again – Support at 1985.00 held its ground , and all eyes are targeting Resistance at 2018.00, followed by 2055.00, break of would lead the way to previous high at 2145.00.
Watch your 6 , as there is an abyss bellow 1985.00 …
And for those that know:
Gold
Always believe in your soul
You’ve got the power to know
You’re indestructible
Always believe in, because you are
Gold
Glad that you’re bound to return
There’s something I could have learned
You’re indestructible, always believe in
Who doesn’t get it…don’t even ask….
February 17, 2024 at 1:24 pm #1703
bobby//I wonder who scared the piss out of you… it is safer to watch criminals as a science, like that it might keep you out of harms way and save the lives of others until help arrives…
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February 17, 2024 at 4:34 pm #1716
JP//it is not required to have an opinion on your posts, never had one and never will… there’s a saying don’t judge others unless you want them to judge you.
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February 17, 2024 at 4:48 pm #1717
JP//always try to be helpful…
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February 17, 2024 at 11:06 pm #1719
JP//90-day paper is the best thing to buy irrespective of yields, rather that buying them for a profit motive it’s best to save your country which has given you so much…
read my below quote,… hehe =)
Be grateful, buy 90-day paper…
USDJPY – Week Ahead
Yen is losing it’s ground last 7 weeks, with some sudden waves of strength here and there, mainly coming from Japanese officials blubber (seems to me that they just want to keep it steady and slow – the decline) .
Resistances at: 150.900, 151.950 and target one in 154.000 area.
Supports at : 150.100, 149.900, 148.800 and the last one at 148.450
Major levels of interest right now are Supp 149.900 and Res 150.900
Not much data in coming week, but check it always in Economic Calendar
Elvira Nabiullina, Bank of Russia representing President Putin VS Janet Yellen, US Sec of the Treasury representing President Biden
• Says leaders see value of tapping ‘economic value’ of assets
• Treasury chief also urges House to pass aid bill for Ukraine
Yellen had lunch with ECB President Christine Lagarde Monday in Washington and met with German Chancellor Olaf Scholz last week alongside President Joe Biden.
“These are topics I’ve discussed,” she said. “I’m not going to elaborate on private conversations, but all of us recognize that an ongoing, committed support for Ukraine is essential.”
Yellen DFiscussed Russian Asset Seizure With European Leaders Bbrg Feb 14, 2024
Oh … and lest I forget about the “on the other hand” ….“There are a range of risks involved and potential adverse repercussions, and we’re studying those very carefully and thinking through how these can be mitigated,” Yellen said
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What is Risk Management in Trading – Forex Forum
For any trader, managing risk is essential to success. But what exactly is risk management? In this blog post, we’ll explore what risk management is and how it can help you become a successful trader.
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