A1 Trading Company

Ticker tape by TradingView

June 7, 2021

JPY- Hottest Market Moves

Frank Cabibi

6/7/2021

The yen is rising today in contrast to COT numbers showing institutional selling. Japanese 10-year bond trading has sunk to new lows for the last 10 years while CPI continues to slip. BOJ is easing off of their usual bond buying to influence more free trade in the bond market, and investors fear that a more hands-off approach is almost the only option for Japan's economy. So, if negative sentiment in Japan's economy does not seem to be the reason for the yen's rise, then maybe it could be from external factors. The yen is heavily dependent on what's happening with the USD, and the fear of rising federal rates could, in turn, make the yen a safer bet than the USD. That's pretty much what I can gather from current news, but I think this might be what's going on. And if the yen is rising on USD inflation fears, there might be some short term bullishness on the yen.

USD/JPY

USDJPY 4H

UJ breaks under support on the 4H chart and is heading for the bottom trend line of this channel. There is also some more support on the chart's 200 SMA for this timeframe. Several red candles suggest a continuation of bearish moves, and a price break under the channel would probably mean further volatility to the downside.

CAD/JPY

CADJPY 4H

CJ on the 4H chart is down 0.26% on the day marking the most volatile pair of today. Price sees pretty strong support on its rising trend line since price has obeyed that level twice before. Resistance hovers above price around 90.612. A break in that level could take price up to additional resistance around 91.190.

NZD/JPY

NZDJPY 4H

This pair is much less volatile than previous pairs but has potential setups on the 4H timeframe. Lots of support from the 200 SMA has kept this price afloat for some time now with resistance at 79.200s. A continuation of this upward channel seems likely.

A1 Edgefinder

Smart Money Tracker
See where big money is flowing with the A1 Edgefinder's smart money tracker! With one click, see where the biggest money flows are entering and exiting through COT data.

10% off code: 'READER'

GET ACCESS NOW

VIP discord

Trade Alerts, Strategies, Chatrooms & more!

10% off code: 'READER'

LEARN MORE
What To Take Away From Powell's Remarks

Today, Fed chairman Jerome Powell spoke on the labor market and inflation. While we don't know what the future holds for the equities and currency market, we can derive certain conclusions from investors' interpretations. Here are some powerful takeaways from Powell's remarks this afternoon. Key takeaways Market Impact This caused the dollar and equities to […]

Read More
What To Expect From Today's FOMC

Today at 2:00 pm EST, the Fed will announce their latest interest rate decision. Estimates suggest a smaller hike of 25 basis points this time around. Here are some things to consider before the FOMC decision later today: The Fed has struggled to tighten their grip on inflation without causing too much disturbance in the […]

Read More
The Art of Not Trading

With the holiday season lingering on and a new year on the cusp of arrival, traders may glance at the calendar and notice there is not much economic news to anticipate on Friday to cap off a light week. In situations like these where there can be lulls in bullish and bearish momentum due to […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
VIP
Menu
homesmartphonelaptopmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram