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USD/JPY: Bullish Momentum Remains StrongHello everyone! Today, let’s analyze the USD/JPY currency pair together! Market sentiment has shifted negatively toward the Japanese Yen, causing the currency to weaken against the US Dollar. Japan’s weak export data has raised concerns about the country’s economic outlook, while internal government disagreements over monetary policy have only added to the uncertainty. In contrast, the US Dollar remains favored due to expectations that the Fed will maintain its tight monetary policy, attracting investment flows and pushing USD/JPY higher. Looking at the technical chart, the 34 and 89 EMAs are steadily trending upwards, with no signs of a reversal. The support level at 149.368 is serving as a springboard for further upward momentum in this pair. When the price encounters resistance at 149.766, it may test this level, and if an opportunity arises, it could break through and aim for a higher target. In my opinion, USD/JPY is likely to continue its upward trend in the short term. However, investors should be cautious about the risk of a correction as the RSI is currently in the overbought zone. What do you all think about this pair?
by Alisa_Rokosz
Nifty50 Analysis! Triangle Breakout!Nifty 50 Daily Analysis! Trinagle Pattern formation in Nifty50! Triangle Pattern Breakout in Nifty50! Nifty50 formed a Triangle on a daily Timeframe. Today It has given breakout and closed above the resistance trendline. We can expect further upmove in Nifty50 in upcoming trading sessions. Rest of all Analysis is on the chart please take a look. Entry = Depends on how market opens on Monday Stop Loss = Below 18337.75 Targets = 1) 18612.70 2) 18740.15 3) 18949.90 Disclaimer = All my analysis are for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4) Don't trade with full capital
NSE:NIFTYLong
by Avinash9087
1
Time and Growth percentage of different waves.Hello Traders! We recently saw the market analysis of Nifty50 using Elliot wave theory. Elliot wave theory can be very accurate when it comes to the market. You can get the analysis wrong, but if you apply the theory correctly, it can help you in more ways than one . 1. As we see on the chart, Wave 1 and Wave 3 were completed in 62 days each . This is not just a coincidence but an actual observation in Elliot Waves where impulsive waves tend to be in equality or in ratio when it comes to time taken to complete each wave. Since, Wave 1 and Wave 3 took 62 days each, it's very probable that Wave 5 will also take 62 days to complete, i.e., 16th March 2023. Now, the question might be, how does this help? As traders, we now know that we have to look for long positions till 16th March 2023 . We know the trend. Trading against the trend is fun, but only when you have enough to lose a little. We also know that the downtrend will begin after 16th March 2023 and hence, we will look for shorting positions thereon. Isn't the date a bit too convenient? Why is Mid-March so hyped ? 2. Let's come to Growth percentage. The market grew around 18% in Wave 1 and around 12% in Wave 3 . This gives us a ratio of 1.5 and that gives us a value of around 8% for Wave 5 . The Nifty50 market will grow 8% which gives us a target of 19200-19300 for Wave 5, again . When dealing with Elliot Waves, we put the most number of 'coincidences' possible in one single bag and then go for the bag. Just too many reasons to expect a good, nice fall from 19200-19300 for a very trending market. 3. Previous analysis attached. Do refer if needed. The world moves in harmony. And so do the markets. All they need is an observer. Be one. Happy observing! Profits, Market's Mechanic.
NSE:NIFTY
by UnknownUnicorn27677748
2
MARICO LTD: Strong buyBSE:MARICO shows strong buy indicated by PSAR, MACD & Fisher crossover followed by EMA & MA Crossover Target 1: 553.40 Target 2: 562.30 Stop Loss: 535.25 𝑫𝒊𝒔𝒄𝒍𝒂𝒊𝒎𝒆𝒓: The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
BSE:MARICOLong
by finogent