A1 Trading Company

Ticker tape by TradingView

May 27, 2021

JPY- Hottest Market Moves

Frank Cabibi

5/27/2021

Yen pairs are moving big today as Japan's currency loses demand among investors. Bank of Japan's statement earlier this week suggested that the economy is still suffering from the pandemic and outlook is not getting much better. Money flow seems to have slowed in private spending. It's interesting that the yen is dropping off poor economic news while the currency is still considered a safe haven.

NZD/JPY

Kiwi Yen 4H

NZDJPY is up nearly 0.80% on the day making it one of the heaviest movers in the forex market after economic outlook was slashed for the first time in months for Japan. This pair broke above resistance at 79.432 and shot up from the momentum afterward. New support now lies around that area where the pair broke above as it makes a higher high on the 4H chart.

USD/JPY

Dollar Yen 4H

USDJPY breaks out of its wedge on the 4H chart and nears a triple top at 109.781. The pair has mostly been caught in consolidation up until Japan's national bank sent their currency sinking. Price may have trouble breaking this top since USD is not looking very strong either. So, this level could be viewed as another potential short position in the short term, but the pair has been in a steady uptrend for the most part.

GBP/JPY

Pound Yen 4H

GBPJPY on the 4H chart making a massive move, up 0.96% on the day, breaking resistance and touching higher highs. Big support now lies around 154.827, and if this recent 4H candle can close above that price, that support level will become more viable. We are expecting further volatility today, so big price swings could happen in either direction today with a bias to the upside.

A1 Edgefinder

#1 Market Scanner Tool
Take 10% off using code "READER"
GET ACCESS NOW
Want to See Our Trades?

Join The VIP Community!

Our entries, exits & analysis
Live Webinar Coaching
Trading Chatrooms
Strategy Library 
Exclusive Trading Guides
Use Code "READER" for 10% OFF!
JOIN NOWJoin FREE Discord
Listen to More Episodes
Get Ready for the Bear Market

Last week’s selloff was brutal for investors in the US stock market: the Dow Jones Industrial Average closed at its lowest level since late 2020, falling to 29590.41, losing 1.6% on Friday alone. With the S&P 500 currently down a whopping 23% from January’s highs this year, and other indexes close behind percentagewise, stock market […]

Read More
Why the New FOMC Decision Matters

Yesterday, the Federal Open Market Committee (FOMC), the Federal Reserve’s policy-making body, implemented yet another 75 basis point interest rate hike. While this move was perfectly in line with market forecasts, Chair Powell’s comments following the subsequent press conference, in which he discussed the FOMC’s new set of economic projections, were significant. He continued to […]

Read More
Shocking CAD Inflation News

Statistics Canada released a surprising new batch of inflation data this morning: month-over-month CPI failed to meet market forecasts, declining by 0.3% instead of the anticipated 0.1%. Rather than being an outlier, the other measurements of CPI mostly followed suit, as both year-over-year Trimmed CPI and Median CPI likewise failed to meet expectations. Trimmed CPI’s […]

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