USDJPY | Perspective for the new week | Follow-up
Updated
In light of recent data, Thursday's release indicated that U.S. consumer price index (CPI) inflation for July met expectations, mirroring the previous month's trajectory. This outcome has fueled speculation that the Federal Reserve will maintain its current interest rates in September. However, this development has concurrently prompted a reduction in expectations for a rate cut within the current year, leading to the anticipation of sustained rates at their 22-year highs.
Consequently, this adjustment has exerted downward pressure on risk-oriented assets, inducing a sense of caution among investors reluctant to engage with Asian currencies, given the prevailing robust outlook on U.S. interest rates.
As a result, the Japanese yen bore the brunt of this shift, registering a decline to a one-month low during overnight trading, only to stabilize in proximity to the pivotal 145 threshold on Friday. However, it is noteworthy that trading volumes remained subdued due to a market holiday observed in the country.
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 145.000, 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, key levels, and chart patterns. 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.
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Consequently, this adjustment has exerted downward pressure on risk-oriented assets, inducing a sense of caution among investors reluctant to engage with Asian currencies, given the prevailing robust outlook on U.S. interest rates.
As a result, the Japanese yen bore the brunt of this shift, registering a decline to a one-month low during overnight trading, only to stabilize in proximity to the pivotal 145 threshold on Friday. However, it is noteworthy that trading volumes remained subdued due to a market holiday observed in the country.
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 145.000, 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, key levels, and chart patterns. 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.
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Note
The beginning of the week has been marked by a sense of ambiguity, with prices staying within the range of 145.200 and 144.680. The notable and abrupt rejections from both the resistance and support levels underscore the prevailing indecisiveness. As mentioned in the video, we currently find ourselves at a pivotal moment in the market, underscoring the importance of the need for confirmation following a break before opening a position.Good Morning
Trade active
UPDATETrade active
We have two buy positions that are currently running in profit. Secure these positions while staying alert for additional trading possibilities. Also, keep an eye on the upcoming Retail Sales data from the US economy, as it might provide valuable insights.Good Morning
Trade closed manually
Following the closure of all buy positions, it becomes evident that the bullish momentum has encountered stiff resistance within the 145.800 zone. The failure to surpass this threshold unmistakably signals the determination of sellers to gain ground. Notwithstanding this, the bullish trend still maintains its viability, pending a successful breakout/retest of the 145.770 level. Nonetheless, it is prudent not to overlook potential selling opportunities below both the ascending trendline and the 145.200 mark.Good Morning
Trade active
Active buy position is currently running with over 100 pips from two positions. Secure positions as the market sentiment still looks bullish which further affirms the ongoing significance of the ascending trendline as a key reference point to guide today's trading activities.Good Morning
Trade active
COUNTER-TREND TRADERS' UPDATEAs deliberated in our recent live session, it's advisable to secure all sell positions. Our strategy involves patient observation of market dynamics at this crucial confluence with the ascending trendline. This will guide our decision to either augment sell positions or prepare for potential buying opportunities.
Trade active
Secure buy positionsTrade active
Following the closure of all buy positions with a modest profit, price action triggers two sell orders at the 145.770 and 145.540 levels respectively. It's appropriate to secure these active sell positions as we maintain our watch for potential trading opportunities ahead.Good Morning
Trade smart. Trade consciously
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