TV

Video: Havoc on JPY & Unclear USD – Stick to these Minor Pairs for Now

Thursday Technical update of the high probability opportunities for this week in Forex, Indices & Commodities.

Click on the video to watch the full breakdown

If you haven’t taken some time off this week and felt brave enough to stay in the markets, you’ve probably seen the extreme volatility that Bank of Japan has injected into the JPY pairs. It’s like someone has pressed a big red button somewhere…

On Tuesday, we had a huge spike which no doubt caused damage to many accounts and left behind bruised egos.

That ‘shock’ moment creates uncertainty. For us, it signals a good time to leave all JPY charts alone, until we’ve got more clarity on the intended direction.

The USD-based pairs/charts too, aren’t clear. This period in the year, as explained before, is a tricky one to get right if you’re not experienced.

With the environment being 50/50, probabilities aren’t in our favour.

So that leaves us with only a few charts to place focus on. That’s: EUR/GBP and NZD/CAD.

Both seem to be following the Uptrend that was identified as higher probability, and with both sticking to major structures and High/Lows, they can be deemed valid continuation Buy ideas. Keep a close eye on the price action in relationship to news events, lower your risk when necessary, and emotionally detach.

Saying that… At the same time it’s worth repeating that, in the long term, you never want to stick too firmly to a certain idea, even if it looks high probability. Otherwise, as the Bank of Japan has shown this week, you may get eaten up unexpectedly…

In this video we go over these opportunities for the week:

  • EUR/USD
  • EUR/CAD
  • USD/JPY
  • CAD/JPY
  • GBP/NZD
  • EUR/GBP
  • SP500
  • EUR/AUD
  • NZD/CAD

Written by: Dima Mihailovich, Technical Analyst for Forex Prop News

Contact and follow Dima on Twitter: @dimafpn

(Please note: All comments made in this video and article are not trading or investment advice and are for education purposes only. You are responsible for your own decisions and the associated risk.)

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Newsletter

Subscribe to ForexPropNews Trading Newsletters

Receive the best-curated content by our editors for the week ahead.

Mini Charts

Fidelcrest video review

Play Video

Related Articles

TV

Video: Here’s the Trade Plan for EUR Pairs, as ECB Interest Rate is Announced Tomorrow

Here's the Trade Plan for EUR Pairs, as ECB Interest Rate is...

TV

Video: Watch These Setups on CAD and JPY Pairs, with Big News Incoming

Watch These Setups on CAD and JPY Pairs, with Big News Incoming

TV

Video: How to Skyrocket Your Profits from *One* Trade Setup (Plus: This Week’s Trade Results)

How To Squeeze More Profits from ONE Trade Setup (Plus: This Week's...

TV

Video: Watch for These Breakouts on Minor Pairs & Dollar Direction Imminent

Watch for These Moves on Minor Pairs & Dollar Direction Imminent

Featured educational content

EXPLORE MORE

Featured educational content

New to Forex? Learn to Read Charts Like a Pro

Dive into forex trading basics: chart reading, candlesticks, technical indicators, timeframes, currency pairs. Start your journey to trading success today!

Video: How I Re-Programmed My Mind to be a Consistent Trader (Thanks to The Wolf of Wall Street)

How I Re-Programmed My Mind to be a Killer Trader (Thanks to The Wolf of Wall Street)

Video: This Invisible Trading Indicator Tells you What Day Trade (Not Just Price)

This Invisible Trading Indicator Tells you WHEN to Trade (Not Just Where)

Technical Analysis: Chart Patterns and Indicators for Profitable Investments

Navigate stocks with confidence using chart patterns like Head and Shoulders, indicators such as MACD, and tools like trendlines. Master technical analysis for...

Latest News

Global Stock Markets
Market News

A Closer Look at Trends in Global Stock Markets

Global indices like Nikkei 225, FTSE 100, and DAX 40 hit record highs but may consolidate amid economic uncertainties.

Surging Markets Week of Record Highs
Market News

Surging Markets: A Week of Record Highs and Key Risk Events Ahead

Last week's record highs in US stock markets driven by tech and AI stocks set a positive tone for investors.

Copyright © 2023 Forex Prop News. All Rights Reserved.