Market Overview:
📈 Strong JPY Performance:
Expectations of another BoJ rate hike have pushed the Japanese Yen to perform strongly in the Asia-Pacific region.
📊 Record Net Long Positions:
Non-commercial traders' net long yen futures surged to 96K contracts (up from 61K), setting a 30-year record according to CFTC data.
Technical Insights:
📉 Descending Channel & Reversal Setup:
While bearish pressure has been evident, momentum is showing signs of easing, hinting at a potential stabilization or near-term bounce. A reversal setup is identified in the 147.000/148.000 zone.
🎯 Key Level:
Next week, the crucial level is 148.000. Be prepared for a buy signal if prices break above, or a sell signal if they remain below this level.
Upcoming Catalysts:
⏰ Fed Policy Uncertainty:
With Fed Chair Jerome Powell indicating that rate cuts are not imminent, this policy uncertainty could favor the US Dollar in the coming week, influencing the JPY further.
Keep an eye on the Consumer Price Index, Producer Price Index, and Michigan Consumer Sentiment Index.
Stay Tuned:
I'll provide a detailed update at the beginning of next week. Follow along for more insights and actionable trading strategies!
Happy Trading!
Disclaimer:
Forex and other market trading involve high risk and may not be for everyone. This content is educational only—not financial advice. Always assess your situation and consult a professional before investing. Past performance doesn’t guarantee future results.
📈 Strong JPY Performance:
Expectations of another BoJ rate hike have pushed the Japanese Yen to perform strongly in the Asia-Pacific region.
📊 Record Net Long Positions:
Non-commercial traders' net long yen futures surged to 96K contracts (up from 61K), setting a 30-year record according to CFTC data.
Technical Insights:
📉 Descending Channel & Reversal Setup:
While bearish pressure has been evident, momentum is showing signs of easing, hinting at a potential stabilization or near-term bounce. A reversal setup is identified in the 147.000/148.000 zone.
🎯 Key Level:
Next week, the crucial level is 148.000. Be prepared for a buy signal if prices break above, or a sell signal if they remain below this level.
Upcoming Catalysts:
⏰ Fed Policy Uncertainty:
With Fed Chair Jerome Powell indicating that rate cuts are not imminent, this policy uncertainty could favor the US Dollar in the coming week, influencing the JPY further.
Keep an eye on the Consumer Price Index, Producer Price Index, and Michigan Consumer Sentiment Index.
Stay Tuned:
I'll provide a detailed update at the beginning of next week. Follow along for more insights and actionable trading strategies!
Happy Trading!
Disclaimer:
Forex and other market trading involve high risk and may not be for everyone. This content is educational only—not financial advice. Always assess your situation and consult a professional before investing. Past performance doesn’t guarantee future results.
Trade active
Technical Set-Up📊 Trading Set-Up:
Check out the chart below where I've marked the levels that are likely shaping the price of the USDJPY.
This technical setup highlights potential turning points and trade opportunities in the current market dynamic.
💡 What's Next:
I'll be diving deeper into this analysis during our upcoming live stream, where we'll discuss the drivers behind the market movements and explore actionable strategies.
Note
Technical Set-Up | 12th March📊 Trading Set-Up:
Check out the chart below where I've marked the levels that are likely shaping the price of the USDJPY.
This technical setup highlights potential turning points and trade opportunities in the current market dynamic.
💡 What's Next:
I'll be diving deeper into this analysis during our upcoming live stream, where we'll discuss the drivers behind the market movements and explore actionable strategies.
Note
#USDJPYAs discussed during our live stream; one buy position active
Note
#USDJPY📈 Buy Position Triggered: Two buy positions have now been executed, yielding a profit of 70 pips.
🔒 Secure Your Profits: With the upcoming release of the US Consumer Price Index (CPI) data, market volatility is anticipated. Hence, it's advisable to secure position.
📊 Awaiting CPI Data: The CPI release is a significant indicator of inflation and can heavily influence currency movements. Traders are advised to exercise caution and avoid opening new positions until the data is released and the market direction becomes clearer.
Trade smart. Trade consciously
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade smart. Trade consciously
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.