TV

Video: JPY Manipulation Strikes Again! Plus: Wait for This Scenario After USD & CAD News

Analysis of the high probability opportunities for this week in Forex, Indices & Commodities.

Click on the video to watch the full breakdown

They’ve only gone and done it again…!

The Japanese Central Bank that is. That’s right, the Bank of Japan has pulled its intervention trigger finger and spiked the price of JPY pairs to the downside once more.

Don’t panic.

Sticking to the overall bias of the bigger picture, we can still see the weakness in JPY, and therefore we plan accordingly.

We now have the new scenarios marked out, which using the price action, will confirm the direction the market wants to set. Wisdom dictates that patience wins, therefore waiting for price to show us its intent and increase the probabilities for us (rather than assuming we know), is better at this point in time.

Speaking of Central Bank volatility, watch out for the BOC releasing CPI news (for our USD/CAD idea) and also the rest of this week with GBP and USD releases. We have scenarios marked across all these currencies.

Reminding you as well that, as you may have noticed from previous videos, the market tends to give a clearer picture of price/candles after Wednesday/Thursday when the news in the middle of the week plays out.

The rest of the shortlisted charts are playing out as discussed, so adjust your plan as price progresses towards the expected target/s. There will usually be more opportunities to re-enter on the way, but as always, they could be on a lower timeframe or with lower risk-to-reward. Keep in mind that the further price moves, the lower the probability that it will continue to do so.

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

  • EUR/USD
  • USD/CAD
  • USD/JPY
  • CHF/JPY
  • EUR/GBP
  • EUR/NZD
  • GBP/CHF

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.)

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