Brian Twomey
Brian's Investment
Both EUR/USD and USD/JPY correlate at negative 93%. EUR/USD and USD/JPY prices separate by a range of 84 pips. USD/JPY is deeply oversold from 114.37 and a 3 pips drop in 2 trade day. USD/JPY traded 56total pips or 44 pips lower and 12 pips higher.
EUR/USD traded 1.1388 to 1.1288 or 100 pips or 70 pips higher and 30 pips lower. EUR/USD achieved target as written Sunday at 1.1388.
USD/JPY 100 day average is located at 114.53 and trades between the 50 and 100 day from 114.53 to 115.02. While EUR/USD's price is to low to record even the 5 day average. EUR/USD highest price is found at the 100 day average at 1.1321 and 50 day at 1.1337.
USD/JPY at current 114.72 is in a dangerous position. Longs at current price could find losses if 114.37 breaks lower. Longs however may find terrifc profits from 114.72 to target at 115.57.
USD/JPY trades in an 84 pips range without a significant level in between. Remaining levels are minor and fairly insigificant.
EUR/USD is deeply oversold and DXY at 96.25 is far to high in relation to 97.00 and 98.00 multi year tops.
USD/JPY longs for today are located at 114.45, 114.50 and 114.57 and targets 115.03.
For USD/JPY, 4 numbers and only 4 numbers drive prices until 9:00 am or 3:00 pm Europe: 114.16, 114.45, 115.03 and 115.32. Today, 114.37 may or may not hold.
EUR/USD 4 numbers drive EUR/USD: 1.1249, 1.1277, 1.1334 and 1.1363.
EUR/USD 1.1249 = USD/JPY 115.32. EUR/USD 1.1277 = USD/JPY 115.03. EUR/USD 1.1334 = USD/JPY 114.45. EUR/USD 1.1363 = USD/JPY 1.1416.
EUR/USD shorts are located at 1.1334 and 1.1363 to target 1.1313 then 1.1277. EUR/USD longs are located at 1.1249 and 1.1277 to target 1.1334.
Overall, 114.37 is expected to hold this week which means we could target USD/JPY as a long only strategy to achieve 115.57 then reverse to shorts rather than allow 80 pips to fly by without profits.
Why the EUR/USD match to USD/JPY is due to each pair as perfect opposites. The difference is USD/JPY's decimal point was moved.
As an aside issue. Time springs forward March 13 by 1 hour. This means day trades change for the next 6 months to 2:30 am to 10:00 am and nightly trades from 9:30 pm to 2:30 am. Day trades run as usual 12 1/2 hours from a total of 24.
Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.
Recommended Content
Editors’ Picks
AUD/USD traders seem non-committed around 0.6500 amid mixed cues
AUD/USD extends its consolidative price move just above 0.6500 on Friday. The RBA's hawkish and upbeat market mood supports the Aussie, though mixed Australian PMI prints fail to inspire bulls. Moreover, bets for a slower Fed rate-cut path continue to fuel the post-US election USD rally and cap the currency pair.
USD/JPY slides to 154.00 as higher Japanese CPI fuels BoJ rate-hike bets
USD/JPY languishes near 154.00 following the release of a slightly higher-than-expected Japan CPI print, which keeps the door open for more rate hikes by the BoJ. That said, the risk-on mood, along with elevated US bond yields, could act as a headwind for the lower-yielding JPY and limit losses for the pair amid a bullish USD, bolstered by expectations for a less dovish Fed and concerns that Trump's policies could reignite inflation.
Gold price advances to near two-week top on geopolitical risks
Gold price touched nearly a two-week high during the Asian session as the worsening Russia-Ukraine conflict benefited traditional safe-haven assets. The weekly uptrend seems unaffected by bets for less aggressive Fed policy easing, sustained USD buying and the prevalent risk-on environment
Ethereum Price Forecast: ETH open interest surge to all-time high after recent price rally
Ethereum (ETH) is trading near $3,350, experiencing an 10% increase on Thursday. This price surge is attributed to strong bullish sentiment among derivatives traders, driving its open interest above $20 billion for the first time.
A new horizon: The economic outlook in a new leadership and policy era
The economic aftershocks of the COVID pandemic, which have dominated the economic landscape over the past few years, are steadily dissipating. These pandemic-induced economic effects are set to be largely supplanted by economic policy changes that are on the horizon in the United States.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.