USD/JPY Daily Video, 30 June, 2017

[Sive Morten]

Good morning,

Yen stands very close to forming of second weekly bearish grabber. If indeed it will be formed - it will bring more confidence with downward continuation:





The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[stelore]

Hi Sive, Thanks for your super job!!!
I understand there might not be clear patterns or signs on EURUSD, but you don't have really any hints or news for that Couple?

 

[Sive Morten]

I understand there might not be clear patterns or signs on EURUSD, but you don't have really any hints or news for that Couple?

Hi Stef,
well, unfortunately it stands as you said. We see leg up that meet overbought, but even on intraday charts we do not have any patterns. It is very probably that upside action will continue. It seems that ECB, BoE and BoC statements on rate increase at the same time is some planned act. So, On EUR market could start price-in coming QE close in Dec or even earlier.
The counter opinion comes from Citi Bank. They think, that this is short-term action and those who will take long on EUR right now will regret about it very soon.
That's being said, although short-term sentiment is bullish, we can't use it yet as market stands at overbought. As soon as we will get some reasonable pullback, we definitely will take a look at EUR.