TriumphFX – Forex Analysis – JPY Pairs – October, November & December 2021


Previous analysis… https://analysis.tfxi.com/2021/08/05/triumphfx-forex-analysis-jpy-pairs-july-august-september-2021/

AUDJPY – Daily Chart

AUDJPY Daily Chart

As suggested in our last JPY chart analysis, price reversed around 78.15 and has been moving sideways.

AUDJPY continues to be indecisive and lack trend direction. The moving averages are currently moving sideways – confirming the market indecision.

Trading opportunities may exist around the moving averages and around any of the horizontal levels at 75.75, 78.15, 78.85, 81.75, 82.35 and 85.30.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is expected to make a moderate recovery from the COVID crisis but some analysts are stating that the Japanese economy is stagnant and may experience economic challenges in the coming months.

The Reserve Bank of Australia (RBA) continues to keep the official interest rate at the record low of 0.10%. The rate is could stay the same until 2024. The RBA are expecting an economic bounce back during 2022.

CADJPY – Daily Chart

CADJPY Daily Chart

Price has been bullish, as suggested in our last analysis.

CADJPY is up-trending and is currently attempting to swing higher. The daily moving averages are tight and moving sideways, signalling potential market indecision – price could start ranging.

Buying opportunities may exist around the dynamic support of the moving averages and around any of the horizontal levels at 88.35, 85.50, 85.10 and 82.00. CADJPY could be rejected or reverse around the recent swing high and psychological level at 91.00.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The BOC are expecting economic indicators to continue to improve.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is expected to make a moderate recovery from the COVID crisis but some analysts are stating that the Japanese economy is stagnant and may experience economic challenges in the coming months.

EURJPY – Daily Chart

EURJPY Daily Chart

As suggested in our last chart analysis, the EURJPY reversed around 128.45 and has since been bullish.

Price was looking indecisive for a while but is now showing potential upside – the EURJPY has broken above a range resistance area and is forming a swing higher. The daily moving averages continue to signal market indecision though – they are moving sideways.

Long opportunities could exist around the dynamic support of the moving averages and around any of the identified horizontal levels at 130.65, 128.00 and 127.35. A bullish move could find resistance around 134.00.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is expected to make a moderate recovery from the COVID crisis but some analysts are stating that the Japanese economy is stagnant and may experience economic challenges in the coming months.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They have said that no rate change is expected in the near or distant future. Inflation targets and economic growth forecasts have been lifted for this year.

GBPJPY – Daily Chart

GBPJPY Daily Chart

The GBPJPY reversed around 148.80 and has since been bullish, as suggested in our last JPY analysis.

Price is potentially up-trending but is also looking indecisive. The moving averages confirm the market indecision – they are tight and moving sideways. The GBPJPY is ranging between 149.00 and 156.00.

Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). Trading opportunities may also exist around the horizontal levels at 142.00, 152.00 and 153.00.

The Bank of England (BOE) continue to keep rates at the record low at 0.10%. Recent economic figures have been more positive than expected, although inflation fears have been mentioned by many.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is expected to make a moderate recovery from the COVID crisis but some analysts are stating that the Japanese economy is stagnant and may experience economic challenges in the coming months.

USDJPY – Daily Chart

USDJPY Daily Chart

As suggested in our last analysis, USDJPY reversed around the longer-term moving average and has since been bullish.

Price is up-trending and is currently swinging higher. USDJPY has recently broken above a bullish resistance area and the moving averages are bullish and steady, all suggesting that the uptrend may continue. Price is also showing a potential uptrend on the weekly time-frame – adding confidence that the bullish direction may continue.

Opportunities to go long could exist around the support and resistance areas of the previous bullish channel, around the dynamic support of the moving averages and around the horizontal levels at 111.55, 110.75, 109.00, 107.85, 107.00 and 106.10.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is expected to make a moderate recovery from the COVID crisis but some analysts are stating that the Japanese economy is stagnant and may experience economic challenges in the coming months.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than originally expected and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

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