USDJPY Forecast: Insights for the New Week & Follow-Up Analysis
Updated
In this video, we delve into a comprehensive technical analysis of USDJPY. We examine the impact of recent fundamental factors, including a surge in US unemployment claims, which led to a sell-off in the US Dollar.
The upcoming week is set to witness crucial economic events that will strongly influence the price movements of this currency pair. With indications of a weakening labor market in the US, the release of May's consumer prices index just before the central bank officials' interest rate discussion holds significant importance.
While the Japanese Yen struggles to gain an advantage, investors anticipate that the Bank of Japan (BoJ) Governor Kazuo Ueda will maintain the current policy. Governor Ueda has consistently emphasized the necessity of monetary stimulus to maintain inflation above 2%, primarily through increased wages and robust household demand.
During the video, I detailed the USDJPY's bullish and bearish sentiment, focusing on price action-based technical analysis. We identify key Support and Resistance Levels in the 4-hour timeframe to identify potential trading opportunities. Notably, highlighted a robust demand zone around the 138.800 area that has consistently counteracted selling pressure in recent weeks, indicating the strength of buyers at this level. This zone may play a crucial role in determining the direction of price action in the upcoming week.
Stay tuned to this channel, follow our updates, and engage in the comment section to stay informed about further developments.
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.
The upcoming week is set to witness crucial economic events that will strongly influence the price movements of this currency pair. With indications of a weakening labor market in the US, the release of May's consumer prices index just before the central bank officials' interest rate discussion holds significant importance.
While the Japanese Yen struggles to gain an advantage, investors anticipate that the Bank of Japan (BoJ) Governor Kazuo Ueda will maintain the current policy. Governor Ueda has consistently emphasized the necessity of monetary stimulus to maintain inflation above 2%, primarily through increased wages and robust household demand.
During the video, I detailed the USDJPY's bullish and bearish sentiment, focusing on price action-based technical analysis. We identify key Support and Resistance Levels in the 4-hour timeframe to identify potential trading opportunities. Notably, highlighted a robust demand zone around the 138.800 area that has consistently counteracted selling pressure in recent weeks, indicating the strength of buyers at this level. This zone may play a crucial role in determining the direction of price action in the upcoming week.
Stay tuned to this channel, follow our updates, and engage in the comment section to stay informed about further developments.
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 price movement continues to stay within a range, providing us with valuable information about the level of uncertainty in the market at the beginning of the week. We will exercise patience and await a signal, such as a breakout or breakdown of the range, to gain further understanding. We will discuss this topic in-depth during our live session this morning.Good Morning
Trade closed manually
The sell position has been closed at the break-even point, bringing us back to our original setup.Trade active
In the 15-minute timeframe, a clear reversal pattern has been identified, indicating that if there is a breakout/retest of the neckline around the 139.400 zone, it will present favorable buying opportunities before a final breakout of the weekly key level at the 139.650 to maximize the "potential" bullish move.Trade active
The price action retraces to the entry zone and stays within a specific range (139.650 and 139.270), anticipating the release of the consumer price index data from the U.S. economic sector today. Consequently, we need to exercise patience and wait for a signal in the form of either a breakout or breakdown of the market structure, which could present potential trading opportunities.Good MOrning
Trade active
The buy position was closed at a loss, and the sell position was initiated when the 139.270 level broke down. We have secured the sell position and will continue to monitor for additional opportunities.Trade active
The sell position was closed at the breakeven point, and the buy position was initiated at the break out of the 139.650 level, resulting in 27 pips running in profit. We recommend securing the buy position at this point.Trade active
Secure the buy positionTrade active
55 pips in profit; Time to secure more positionNote
Following the release of yesterday's US CPI data, market participants have shifted their focus to the upcoming FOMC meeting. As a result, we are currently observing a consolidation phase within the market structure. We will patiently wait for trading signals and confirmation before considering opening positions.Good Morning
Trade active
CLEAR UPDATETrade active
SEll position triggered, secure positionTrade active
It is recommended to secure the sell position at this time while we remain vigilant for additional trading opportunities.Trade active
We currently have two sell positions in progress, generating a combined profit of 80 pips. It is now advisable to secure all positions.Note
NOTICEIf you are taken out of any of the existing positions in our portfolio, it is recommended to refrain from opening new positions at this time. Our current strategy involves waiting for the market influx to stabilize, allowing market participants to evaluate the consequences of the unchanged interest rate decision before making any further trading decisions.
Trade active
We have accumulated a profit of 225 pips from two positions after the buy-stop orders were triggered at levels 140.150 and 140.300. It is advisable to secure these positions and remain vigilant for further opportunities.Good Morning
Trade active
UPDATE and Fallout from our live session this morningTrade active
COUNTER-TRENDSecure positions
Trade active
COUNTER-TREND POSITIONWe are currently running 75 pips in profit. It is advisable to secure the position as buying pressure resumes around the 140.300 level, which coincides with the ascending trendline. Please secure your positions accordingly.
NB: Please note that the appearance of a reversal pattern on the lower time frame will welcome buying opportunities
Note
As anticipated in my previous commentary yesterday, the reversal pattern near the ascending trendline and the 140.300 level has created favorable buying opportunities, resulting in a price action movement of approximately 100 pips. Unfortunately, I was unable to take advantage of this movement due to the specific timeframe it occurred. However, if you were able to capitalize on it, congratulations! I recommend securing your positions as we remain vigilant for new opportunities that may arise today. We will discuss this further during our live session scheduled for this morning.Good Morning
Trade active
Secure buy position
Trade smart. Trade consciously
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