{"id":103530,"date":"2017-03-16T11:51:18","date_gmt":"2017-03-16T15:51:18","guid":{"rendered":"http:\/\/countingpips.com\/?p=103530"},"modified":"2017-03-16T11:51:18","modified_gmt":"2017-03-16T15:51:18","slug":"chinese-yuanjapanese-yen-cnhjpy-forex-technical-analysis-march-16-2017","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/03\/chinese-yuanjapanese-yen-cnhjpy-forex-technical-analysis-march-16-2017\/","title":{"rendered":"Chinese yuan\/Japanese yen (CNHJPY): Forex Technical Analysis March 16, 2017"},"content":{"rendered":"<div id=\"inves-1010342722\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 16, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\">IFCMarkets<\/a><\/p>\n<p><strong>Markets sure about Fed rate hike<\/strong><\/p>\n<p>In this report we consider studying the personal composite instrument (PCI) <a href=\"http:\/\/www.ifcmarkets.com\/en\/trading-conditions\/personal-instrument-pci\/cnhjpy\">Chinese yuan\/Japanese yen<\/a>. It rises when the yuan is getting stronger against the US dollar while yen weakens. PCI reflects the dynamics of gas between pace of GDP growth in China and Japan.<\/p>\n<p>Les us assume that the China\u2019s economy will develop faster than the Japan\u2019s one. In such a case the personal composite instrument CNHJPY may advance. The USDCNH chart shows the descending trend while USDJPY advances. The China\u2019s government premier Li Keqiang said on Wednesday that his country is no willing trade wars with the US and announced the possible meeting of the China\u2019s president Xi Jinping and the US president Donald Trump this April. Li Keqiang also said that China is not planning to make yuan weaker to support the exports. The China\u2019s state reserves are big enough to support stability of yuan. In its turn Bank of Japan said repeatedly that is interested in weaker yen. Its next meeting will take place on March 16, 2017. No changes in monetary policy are expected. Currently the short-term rate of BoJ is negative (-0.1%). At the same time, the bank effects the quantitative easing (i.e. yen emission) of 80trn yen ($695bn) each year. Such diverse aims of the monetary policy in China and Japan as well as the gap in rates may push CNHJPY up. The interest rate in China is 4.35%. The Japan\u2019s GDP rose 1,2% in 2016? While the China\u2019s GDP surged 6.8%.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"http:\/\/www.ifcmarkets.com\/uploads\/images\/15-03-2017.png\" alt=\"CNHJPY\" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">On the daily chart <b>CNHJPY: D1<\/b> surpassed the resistance of the mid-term downtrend. The correction ended having reached the Fibonacci retracement at 61.8%, and there is a chance the uptrend movement continues. The further increase of PCI prices is possible in case of stronger yuan and weaker yen.<\/p>\n<ul class=\"emailSummary\">\n<li>The <b>Parabolic indicator<\/b> gives bullish signals.<\/li>\n<li>The <a href=\"http:\/\/www.ifcmarkets.com\/en\/bolinger-bands\">Bollinger bands<\/a> have narrowed a lot which means low volatility. They are tilted upwards.<\/li>\n<li>The <a href=\"http:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/rsi\">RSI<\/a> is above 50 but has not yet reached the overbought zone. It has formed positive divergence.<\/li>\n<li>The <a href=\"http:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\">MACD<\/a> gives bullish signals.<\/li>\n<\/ul>\n<p>The bullish momentum may develop in case <b>CNHJPY<\/b> surpasses the last fractal high and the upper Bollinger band at 16.73. This level may serve the point of entry. The initial stop-loss shall be placed below the two last fractal lows, the Bollinger band and the parabolic signal at 16.3. Having opened the pending order we shall move the stop to the next fractal low following the Parabolic and Bollinger signals. Thus, we are changing the probable profit\/loss ratio to the breakeven point. The most risk-averse traders may switch to the 4-hour chart after the trade and place there a stop-loss moving it in the direction of the trade. If the price meets the stop-loss level at 16.3 without reaching the order at 16.73, we recommend cancelling the position: the market sustains internal changes which were not taken into account.<\/p><div id=\"inves-329940751\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<h2 class=\"emailSummary\" style=\"margin-top: 15px !important;\">Summary of technical analysis<\/h2>\n<table style=\"border: solid 1px black;\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Position<\/b><\/td>\n<td align=\"left\" valign=\"top\">Buy<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Buy stop<\/b><\/td>\n<td align=\"left\" valign=\"top\">above 16.73<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">below 16.3<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\">IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Markets sure about Fed rate hike In this report we consider studying the personal composite instrument (PCI) Chinese yuan\/Japanese yen. It rises when the yuan is getting stronger against the US dollar while yen weakens. PCI reflects the dynamics of gas between pace of GDP growth in China and Japan. Les us assume [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-103530","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/103530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=103530"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/103530\/revisions"}],"predecessor-version":[{"id":103548,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/103530\/revisions\/103548"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=103530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=103530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=103530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}