USDJPY Forecast: Insights for the New Week & Follow-Up Analysis
Updated
The BOJ's decision to adopt a more flexible bond yield approach indicates a potential shift away from its ultra-dovish stance. Under this approach, bond yields will be allowed to fluctuate beyond the previous target range. The economic landscape was further impacted by surprising data on Friday, indicating that inflation in Japan's capital exceeded expectations during July, adding an element of complexity to the current situation.
Despite these developments, the outlook for the Yen faced some headwinds due to the release of robust second-quarter U.S. GDP data. The stronger-than-expected economic performance raised expectations that the Federal Reserve will have the necessary economic space to continue its path of raising interest rates. However, this scenario poses challenges for regional currency units, including the Yen.
With no high-impact events expected from Japan's economy in the upcoming week, all eyes are now turned toward the economic indicators from the US economy. Traders will closely be monitoring these indicators for signals that can provide insights into the likely direction of prices.
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 within the key zone of 141.000 and 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 this 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.
Despite these developments, the outlook for the Yen faced some headwinds due to the release of robust second-quarter U.S. GDP data. The stronger-than-expected economic performance raised expectations that the Federal Reserve will have the necessary economic space to continue its path of raising interest rates. However, this scenario poses challenges for regional currency units, including the Yen.
With no high-impact events expected from Japan's economy in the upcoming week, all eyes are now turned toward the economic indicators from the US economy. Traders will closely be monitoring these indicators for signals that can provide insights into the likely direction of prices.
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 within the key zone of 141.000 and 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 this 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
Building on the momentum from the previous week, USDJPY has kicked off the new week with a robust impulsive move, breaking out of the 141.150 level. This sets the tone for a potential uptrend continuation. Now, it remains to be seen whether the market will choose to retest the recently broken level as part of an uptrend continuation, or if it will form a trend continuation pattern that could lead to a breakout/retest of the new high at the 141.950 level.We'll delve into this market structure in-depth during our live session this morning, analyzing the price action and potential scenarios to provide valuable insights for strategic decision-making. Stay tuned for the discussion, as it promises to offer valuable guidance for navigating the USDJPY market in the days ahead.
Good Morning
Trade active
UPDATESecure buy positions as we look out for more opportunities
Trade active
Secure position as selling pressure resumes; as discussed during our live session this morning please note that the ascending trendline still remains our guide for trading opportunities.Trade active
The uptrend momentum looks intact, with two positions currently open and yielding a profit of over 90 pips. Traders seem to be seeking safety in the US Dollar in anticipation of significant data releases, including the ISM Manufacturing PMI and JOLTS Job Openings from the US, scheduled for later today.To navigate today's trading activities, we will use the new ascending trendline as our reference point. It is crucial to secure all buy positions while closely monitoring price action for potential opportunities or changes in market dynamics.
Happy new month!
Trade active
UPDATEfour positions now running with 290 pips profit; secure position
Trade closed manually
All buy positions have been closed with a minimum profit of 150 pips. The price action is currently showing signs of transitioning into a reversal pattern, which has led to the breakdown of both the ascending trendline and the significant level at 142.850.This structural shift in the USDJPY market suggests the potential start of a retracement or sell-off, and traders are closely monitoring the extent of the potential bearish move. The focus has now shifted to the upcoming ADP employment change data from the US economic docket, which is expected to provide stimulus and further influence market dynamics. We shall dissect this market structure further during our upcoming live session today.
Good Morning
Trade closed manually
All buy positions closed following the market's strong rejection at the 143.800 zone; At this point, it's best to let the market settle and await strong signals before making any further moves. We will delve into this matter extensively during our live session this morning, so make sure to join us for valuable insights and analysis. Stay tuned for more updates!Good Morning
Note
The bearish momentum that caused the initial breakdown of the ascending trendline seems to be losing steam, as buying pressure has been consistently present around the 142.400 zone for the past 19 hours. Given the current situation, we'll be on the lookout for potential buying opportunities upon a breakout/retest of the 142.850 level. On the other hand, we'll only consider selling positions if price action convincingly breaks below the temporary demand zone identified on the 1-hour timeframe.Good Morning
Trade active
UPDATEAs discussed during our lie session this morning; Secure sell positions
Trade active
UPDATE92pips in profit
Trade smart. Trade consciously
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