USDJPY’s rally from 108.80 came to its natural end last week, when the pair climbed to 114.50. The rate exceeded the mid-May high of 114.36 for what is usually called a “bullish breakout.” Unfortunately, instead of rising even more, the U.S. dollar reversed sharply to the south to reach 111.55 yesterday for a decline of almost 300…
The U.S. dollar continues to tumble against most of its rivals. The selloff is especially obvious against the Japanese yen, with the USDJPY pair declining from as high as 114.35 to as low as 109.56 as of today. The first possible explanation for the dollar’s plunge that comes into mind, is the United States withdrawal…
Donald J. Trump officially sworn as the 45th president of the United States yesterday. And if the stock market remained relatively calm during the week of his inauguration, the USDJPY pair has been very interesting to watch. After opening at 114.31 on Monday, it fell to 112.56, before bouncing back up to 115.61, only to close…
On December 15th GBPJPY climbed to 148.45 – the culmination of a rally, dating back to October 7th, when the pair fell to as low as 122.64. Unfortunately, just when it seemed that the bulls are holding the wheel, the bears somehow managed to prevail and drag the rate 600 pips lower – to 142.48 as…
It has been over five months since CHFJPY began recovering from as low as 101.74 in June. During this time, the pair managed to gain over 1000 pips and is currently trading slightly above 111.00. This impressive rally might make most people think it is time to join the new uptrend before it is too…
GBPJPY bulls must be very pleased with what November brought them. The pair has been steadily rising since the U.S. election, which caused a decline to 126.70. Nine days later, today GBPJPY climbed to as high as 137.57 and is currently hovering around 137.10. Could this impressive rally be predicted, especially after the strongly negative…
Last Friday, October 28th, USDJPY rose to a high of 105.53, but eventually closed the week at 104.71. The trend was clearly up since the end of September and Friday’s dip was probably embraced by the bulls as another buying opportunity. Unfortunately for them, 105.53 turned out to be a major top. Instead of continuing to…
USDJPY is having a good run recently. The pair started the week from 101.17, but quickly gained traction and is currently trading above 103.60. Despite the fact that it has been in a strong downtrend since June 2015, USDJPY, it turns out, could still offer bullish opportunities. In order to get advantage of them, the…
Last week, the USDJPY pair opened at 102.02 and undertook an impressive rally to 104.31, before settling at 104.01 for the weekend. After such an impressive bullish run, it is quite normal to expect that the uptrend is going to continue. But since Monday, September 5th, USDJPY has been nothing more than a disappointment. The…
At the start of last week USDJPY was trading slightly above the 100.00 mark after falling from as high as 107.49 in mid-July. Usually, staying with the trend is a profitable approach, so basically, joining the bears would have made sense to most analysts. Usually, however, does not mean always, because no trend lasts forever.…
GBPJPY topped at 195.87 in June, 2015. During the last one year, the pair lost over 67 figures, falling to as low as 128.76 last week. Prior to this crash, there was a strong rally from 116.83. So, a 79-figure bullish run was followed by a 67-figure sell-off. Well, the FOREX market could really be…
USDJPY is currently struggling to hold above 112.00, following a rally from 110.67 to 113.80. Last week’s recovery of more than 300 pips came out of the blue, just after the pair made a break below the previous bottom at 110.97. Most traders must have gone short at the breakout, which is understandable through the perspective…
USDJPY just fell below the 111.00 mark. To be more precise, the pair slumped to 110.66. And while the majority would inevitably blame the Federal Reserve’s policy statement for the dollar’s weakness, the only thing traders actually care about is if the decline could have been predicted and how. The good news is that it…
GBPJPY bottomed at 154.70 on February 24th and managed to recover to 164.10, when the bears returned. The pair is currently trading slightly above 160.10, but what could we expect from now on? Is this just a pull-back or the resumption of the larger downtrend? The Elliott Wave Principle might help us find the answer.…
The Elliott Wave Principle is a market forecasting method, based on pattern recognition. If an analyst is able to recognize a pattern on the chart and knows what should follow, he could as well be able to predict what the market is most likely to do next. That is what we are going to try…
