A week ago, I argued that a strong reversal could be next for JPY pairs, based on one key observation:
✅ the JPY Index was trading at an all-time low, but price action was contained inside a falling wedge — a pattern that often signals trend exhaustion and a reversal just around the corner.
And as always, the market did what it does best…
👉 it made one more new low, just to shake everyone out, before reversing.
🔥 Friday: The First Real Confirmation
Friday delivered a very important technical signal: a strong bullish engulfing candle
and even more importantly…
✅ a close above the descending trendline of the falling wedge
That’s a key detail, because wedge breaks matter only when the market accepts above the structure, not when it simply spikes and fades.
📈 Today: Gap Up and Strong Continuation
Today, the market opened with a clear gap above horizontal resistance and is trading strongly to the upside.
This is exactly how a real reversal begins:
- break the structure
- reclaim the level
- continue with momentum
✅ Going Forward: I Expect JPY Strength to Continue
From this point, I expect the JPY recovery / strength to extend further.
Which means my focus shifts to the pairs that can “pay” the best if JPY strengthens:
👉 EURJPY
👉 GBPJPY
📌 Trading Plan
My plan is simple:
✅ Sell rallies in EURJPY and GBPJPY as long as JPY strength remains the dominant theme.
If this reversal continues to develop, these crosses have the potential to deliver powerful downside corrections. 🚀
✅ the JPY Index was trading at an all-time low, but price action was contained inside a falling wedge — a pattern that often signals trend exhaustion and a reversal just around the corner.
And as always, the market did what it does best…
👉 it made one more new low, just to shake everyone out, before reversing.
🔥 Friday: The First Real Confirmation
Friday delivered a very important technical signal: a strong bullish engulfing candle
and even more importantly…
✅ a close above the descending trendline of the falling wedge
That’s a key detail, because wedge breaks matter only when the market accepts above the structure, not when it simply spikes and fades.
📈 Today: Gap Up and Strong Continuation
Today, the market opened with a clear gap above horizontal resistance and is trading strongly to the upside.
This is exactly how a real reversal begins:
- break the structure
- reclaim the level
- continue with momentum
✅ Going Forward: I Expect JPY Strength to Continue
From this point, I expect the JPY recovery / strength to extend further.
Which means my focus shifts to the pairs that can “pay” the best if JPY strengthens:
👉 EURJPY
👉 GBPJPY
📌 Trading Plan
My plan is simple:
✅ Sell rallies in EURJPY and GBPJPY as long as JPY strength remains the dominant theme.
If this reversal continues to develop, these crosses have the potential to deliver powerful downside corrections. 🚀
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📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Pubblicazioni correlate
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.