A Technical Look at the Yen

Featuring Joe Perry

Joe Perry, of ForexAnalytix, sees an opportunity to profit from price movements on the Japanese yen driven by strong technical indicators and on correlations with gold and 10-year U.S. Treasuries. In this interview with Real Vision’s Brian Price, Perry explains his short-term view of the Japanese currency, and lays out the detailed technical analysis behind his trade on the USD/JPY pair. Filmed on October 12, 2018 in New York.

Published on
16 October, 2018
Topic
US Dollar, Japan, FX
Duration
7 minutes
Asset class
Currencies
Rating
15

Comments

  • CC

    Chad C.

    7 11 2018 21:29

    0       0

    So far he has called a correct bounce up to 113.50. Now it is supposed to drop

  • JS

    John S.

    24 10 2018 11:22

    0       0

    God interview. Sounds like Joe has a view on Gold also.. would be interested to see that

  • LL

    Louis L.

    18 10 2018 09:50

    2       0

    Joe good job. Detailed and thought out. This is Louis Llanes. See you in NYC next time. I’ll look you up.

  • DS

    David S.

    16 10 2018 18:41

    2       0

    Good presentation. Thanks for working so hard on Trade Ideas. It would be more informative to me to see how well the trade worked. I am not suggesting a new interview on the same trade. The guest, if she/he wished, could give several brief updates in the comment section over time. I could learn much more by follow the trade with the trader's comments as it plays out – good, bad or ugly. DLS

  • DR

    David R.

    16 10 2018 18:12

    1       2

    Hi traders. I've been looking at this myself for months and 100% concur with this USDJPY near-term trade, which fits with my outlook for broad and substantial USD weakness over the rest of this year. But, I think the most interesting thing about USDJPY is longer term. Look at his chart at th 1:40 point (5:15 remaining in the video). Notice the 500 pips increase in USDJPY from 75 to 125 between 2012-2016. Then the wedge consolidation for 2 years since 2016, which is getting narrower and closer to an end. Normally after this consolidation, the asset resumes the move prior to the consolidation, in this case upward USDJPY. So we can eventually expect a major uptrend overall in USDJPY beginning next year, of a magnitude that's similar to, or a fibonacci ratio of, the previous move. That is to say, USDJPY could eventually begin to move up about 500 pips starting next year from roughly the 110 level, thus targeting approximately 160 in the long run. Or at least up by about a fibonacci 61.8% of 500 = approx 300 points, or even possibly extend up by 1.3182 * 500 points or even as much as 1.618 * 500 points (we must take it a step at a time and watch as the pattern unfolds). Bottom line, after the correction ends this year, expect a potentially powerful rally in USDJPY further out. Yippee-kay-yay.

  • CM

    Chris M.

    16 10 2018 12:09

    3       0

    Hey guys, So I followed along the TA of the ssd/jpy and I gotta say this is a pretty rock solid accounting of the trade. Everything was accurate and well thought out. Thank you for taking the time on this one. I am bullish the yen futures so this lines up perfectly with my analysis of that trade! Y'all rock. Look forward to more like this 🤘🏼