USDJPY Forecast: Insights for the New Week & Follow-Up Analysis
Updated
The Japanese economic docket reveals that consumer price index (CPI) inflation remained stubbornly high through June, despite government measures to curb prices. This has raised the possibility of the Bank of Japan (BOJ) tightening monetary policy. However, BOJ policymakers are cautious and prefer to analyze more data to ensure sustained growth in wages and inflation before making any changes to the yield control policy. Reports indicate that there is no consensus within the central bank, making the decision a close call. Nevertheless, recent reports suggest that the BOJ may lean towards maintaining its yield curve control (YCC) strategy in the upcoming policy meeting.
With Japanese inflation staying above the BOJ's target, there have been speculations about the central bank potentially abandoning its yield curve control program, a move that could strengthen the yen.
On the other side, the US dollar has made a sharp recovery from 15-month lows ahead of a Federal Reserve meeting, leading traders to seek safe-haven assets. The market remains uncertain about whether the Fed will signal a pause in its rate hike cycle despite the expectation of a 25 basis points interest rate hike.
As we shift our focus to the upcoming week, all eyes are on high-impact economic features from both the US and Japanese economies that could significantly impact the USDJPY market.
USDJPY Technical Analysis:
In this video, we conduct an in-depth technical analysis of the USDJPY chart, carefully examining the current market structure. Our primary focus is on the key level of 142.000, which will serve as our center of focus ahead of the upcoming week. As price action remains within this zone, it becomes an area of interest that could lead to choppy consolidation before a clear direction emerges. The market's reaction around the 142.000 area at the beginning of the new week will heavily influence the trajectory of price action in the days to come.
Join me on this journey as we explore potential trading opportunities using trendlines and key levels. Be sure to stay connected to my channel, follow my updates, and actively engage in the comment section as we navigate the dynamic USDJPY market together.
Wishing you the best of luck as you chart your course in the USDJPY market this week. Get ready for an exhilarating experience filled with valuable insights and exciting trading opportunities!
Disclaimer:
Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy.
It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment.
I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it.
Please note that past performance is not necessarily indicative of future results.
With Japanese inflation staying above the BOJ's target, there have been speculations about the central bank potentially abandoning its yield curve control program, a move that could strengthen the yen.
On the other side, the US dollar has made a sharp recovery from 15-month lows ahead of a Federal Reserve meeting, leading traders to seek safe-haven assets. The market remains uncertain about whether the Fed will signal a pause in its rate hike cycle despite the expectation of a 25 basis points interest rate hike.
As we shift our focus to the upcoming week, all eyes are on high-impact economic features from both the US and Japanese economies that could significantly impact the USDJPY market.
USDJPY Technical Analysis:
In this video, we conduct an in-depth technical analysis of the USDJPY chart, carefully examining the current market structure. Our primary focus is on the key level of 142.000, which will serve as our center of focus ahead of the upcoming week. As price action remains within this zone, it becomes an area of interest that could lead to choppy consolidation before a clear direction emerges. The market's reaction around the 142.000 area at the beginning of the new week will heavily influence the trajectory of price action in the days to come.
Join me on this journey as we explore potential trading opportunities using trendlines and key levels. Be sure to stay connected to my channel, follow my updates, and actively engage in the comment section as we navigate the dynamic USDJPY market together.
Wishing you the best of luck as you chart your course in the USDJPY market this week. Get ready for an exhilarating experience filled with valuable insights and exciting trading opportunities!
Disclaimer:
Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy.
It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment.
I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it.
Please note that past performance is not necessarily indicative of future results.
Note
The current price action is situated within a structure that holds the potential to evolve into either a reversal or trend continuation pattern. As we stand at this critical juncture in the market, it is imperative to exercise patience and refrain from rushing into positions even after identifying signals. Waiting for confirmation is vital before considering opening a position. By doing so, a more informed and prudent trading decisions will be made.Good Morning
Note
Fall out from our live session this morning; new set-up identified on the 15 minutes time frameTrade active
UPDATESecure sell position
Trade active
A new sell entry has been activated at the previous entry zone near 141.350 as buyers were unable to surpass the 141.560 level, indicating the strength of sellers. It's essential to keep in mind that the descending trendline will be a crucial reference point to guide trading activities throughout the day.Good Morning
Trade closed: stop reached
Stop-loss hit as higher lows are identified. So the current market structure is gradually transitioning into a bullish momentum; the ascending trendline shall be a reference point to guide trading activities going forward.Trade active
Secure sell positionTrade active
Two sell positions running with a total of 80 pips; secure positionGood Morning
Trade active
200 pips profit as third position is triggeredTrade active
Selling pressure continues; secure all positions as we look out for more opportunitiesTrade closed: target reached
Approximately 300 pips from 4 position as price hits TP target. Buying pressure appears to have resumed around the 139.700 zone... we shall discuss this market structure in detail during our upcoming live sessionGood Morning
Trade active
Following our live session this morning, an intriguing reversal setup is beginning to unfold, and we are patiently awaiting further confirmations to solidify our analysis."Trade active
The GDP data has surpassed expectations, showing a robust 2.4% expansion in the US economy. This development is a promising sign for the US dollar and has instantaneously validated the reversal pattern we discussed during our live session earlier today. The price action has successfully broken out of the potential neckline marked at the 140.250 level, prompting our first buy position for the week.Trade active
UPDATETrade closed manually
Market participants closely monitored the monetary policy decisions of the Bank of Japan, leading to considerable volatility in the Japanese Yen. This sudden price movement triggered a rapid movement that cleared out all the buy positions, resulting in a modest profit. Currently, the USD seems to be in a consolidation phase after its impressive rally on Thursday, raising the likelihood of a potential reversal. We will delve into this matter extensively during our live session.Good Morning
Trade active
UPDATETwo buy position running with over 150 pips in profit; secure positions while we look out for more opportunities.
Trade active
UPDATEhave a wonderful weekend everyone!
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.