JPY crosses are moving higher this mooring after BoJ Kuroda highlighted that change in fx-rates will boost export volume, but not earlier than in 6-9 months. This means that there current policy has a positive impact on the economy that’s why we can see strong rally on Nikkei which is pushing the JPY down, or XXX/JPY to the upside.
We are long EURJPY from 131.90 with members and so far pair is moving very nicely in our favour with possible extension to 133.80 in sessions…
The markets are in a reversal mode since Sunday open, which has also been in our view yesterday based on our wave counts. There was no real action on the FX market in the last few sessions; prices are very slow and choppy so we think that pairs reversed into a corrections, which we also highlighted in our latest video (members only).
While the FX market was slow, traders were focused on some other markets, like stocks and precious metals. We have seen…
EURUSD once broke lower on Friday and hit 1.2800 level that we were focusing on already a week back. Now we can count five waves down in wave 3 from 1.3195 peak which means that bottom could be near. Notice that price also tested 200% extension level of wave 1 measured from wave 2 high which could also react as a support in wave 3. With that in mind, EURUSD could make a corrective bounce this week in wave 4, back to 1.2935 before new sell-off occurs. If 1.2800 is out then watch out for the…Continue
We turned immediately bearish on GBPUSD after recent sharp decline through the trend-line connected from March lows which is important evidence for a completed corrective wave II at 1.5600 area. In fact, decline from latest high has a personality of an impulsive price action so we believe that pair is headed lower, ideally towards 1.5000 in the near-term as latest minor pull-back was probably wave 4 of wave 1) in progress.