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Yen as a safe haven

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This pair would need to get back below the LT trend line or a bullish breakout is on the cards.  Would require a stocks capitulation, hmm...

USDJPY-Daily_200220.thumb.png.9b111a1c90d4b80bbeddc6e3b120e075.png

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How low will it go, Peregrin Took? 😮🧐

USD_JPY_20200301_21_27.thumb.png.635f021937daa20fae91f85e2304814d.png

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Pretty goshdarn low, Bilbo Baggins!

USD_JPY_20200302_10_06.thumb.png.963f7bdf51f82a44948a61191dfd046e.png

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Stocks buy the dips put paid to further USDJPY bearishness and signals suggested a relief rally at least.  I imagine the Bear will get going again when stocks turn again, especially now that USD looks to have turned.

USDJPY-Daily_020320.thumb.png.fad2a58f476839705cc2af2090c15143.png 

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Still waiting for this pair to retrace to consider adding Shorts.  A stocks rally would help, as would a general USD relief rally.  Price has been stopped for now at the lower Triangle support line, let's see if this provides the springboard for a relief rally.  If we do see a USD and Stocks rally then this pair could rally disproportionately higher than USD generally.

LT the picture looks good for an extended and significant bear run, once the first relief rally is done.  A H&S forming right should could be on but that is speculation at present, however it does fit with my DX analysis.

USDJPY-Monthly_070320.thumb.png.375a391397805d02d36e8525d6f9dbf9.pngUSDJPY-Weekly_070320.thumb.png.6381f6b9fa09623e359794584d6f2d9d.pngUSDJPY-Daily_070320.thumb.png.5cc8f50c5d8e584c5743d1026d840e85.png

 

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27 minutes ago, MarcoEsq said:

USD proving to be the safer haven in this crisis.

Yes indeed..being the most liquid and traded currency, the USD always prevails in times of major financial stress. The USD also rallied during the height of the financial crisis in '08

and of course it is the world reserve currency :)

There's a nice article below by IG on the top 10 most traded currencies if you want to do further reading..

 https://www.ig.com/uk/trading-strategies/what-are-the-top-10-most-traded-currencies-in-the-world-200115

 

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3 hours ago, Level_Trader said:

 

and of course it is the world reserve currency :)

 

I read a lot of articles about the world's desire to  move away from the Greenback in the last year, not so much lately.

 

 

 

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Hi there,

If anyone know how to set up FX Trading please?

I accidentally chose share trading only when register, and now I cannot add FX Trading in.

Does anyone know how to add it in please?

Thank you!

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On 31/12/2019 at 10:59, elle said:

updated chart a bit "squiggled" up now

Capture uj.PNG

currently 

Capture uj.PNG

  • Sad 1

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On ‎28‎/‎07‎/‎2020 at 13:56, elle said:

Capture uj.PNG

looking like 100% is likely

Capture uj.PNG

  • Great! 1

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On 31/07/2020 at 06:48, elle said:

looking like 100% is likely

Capture uj.PNG

 

Read something about the BOJ intervening to weaken the Yen.  

'Free markets' and all that jazz :)

 

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