USDJPY | Perspective for the new week | Follow-up
Updated
In a fresh turn of events, USDJPY surged to new intraday highs on Friday, but the question remains: Can it sustain its four-week uptrend? Meanwhile, Japan's economic output hit levels above full capacity in April-June for the first time in nearly four years, raising questions about the possibility of a shift in ultra-low interest rate policy.
Adding to the intrigue, Japan’s Finance Minister, Shunichi Suzuki, weighed in on Friday, emphasizing the undesirability of sudden FX movements and asserting that Forex rates should be influenced by market conditions and fundamental factors.
On the flip side, wage growth in the U.S. is showing signs of slowing down, adding a layer of complexity to the job market. These mixed signals are fueling uncertainty about the Federal Reserve's forthcoming interest-rate decision, scheduled for September 20th. Fed Chair Jerome Powell's recent remarks at the Jackson Hole Symposium underscored the importance of incoming data, particularly in the context of the evolving relationship between inflation and employment.
So, as we look ahead, what does the coming week hold in store for USDJPY?
USDJPY Technical Analysis:
In this video, we conducted an in-depth technical analysis of the USDJPY chart, carefully examining the current market structure which is evidently bullish. Our primary focus is still within the key zone of 144. 600 and 146.600 zone, 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 has led 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.
#USDJPY #technicalanalysis #tradingopportunities #inflation #monetarypolicy #Fed #interestrates #economicanalysis #Forextrading
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.
Adding to the intrigue, Japan’s Finance Minister, Shunichi Suzuki, weighed in on Friday, emphasizing the undesirability of sudden FX movements and asserting that Forex rates should be influenced by market conditions and fundamental factors.
On the flip side, wage growth in the U.S. is showing signs of slowing down, adding a layer of complexity to the job market. These mixed signals are fueling uncertainty about the Federal Reserve's forthcoming interest-rate decision, scheduled for September 20th. Fed Chair Jerome Powell's recent remarks at the Jackson Hole Symposium underscored the importance of incoming data, particularly in the context of the evolving relationship between inflation and employment.
So, as we look ahead, what does the coming week hold in store for USDJPY?
USDJPY Technical Analysis:
In this video, we conducted an in-depth technical analysis of the USDJPY chart, carefully examining the current market structure which is evidently bullish. Our primary focus is still within the key zone of 144. 600 and 146.600 zone, 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 has led 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.
#USDJPY #technicalanalysis #tradingopportunities #inflation #monetarypolicy #Fed #interestrates #economicanalysis #Forextrading
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 lingering indecision from Friday's closing hours has spilled over into the new week, keeping trading activities confined within the tight range of 146.350 to 146.000 since the early hours. As technical traders, we'll exercise patience while closely monitoring this range, waiting for clear signals to present themselves. These signals will be our key to unlocking potential trading opportunities in the days ahead.Good Morning
Trade active
UPDATETrade active
Following the activation of our buy position yesterday, we've witnessed a favorable price movement of over 50 pips, aligning with our analysis from the live session. Now, it's prudent to secure this position while we exercise patience as we await additional trading opportunitiesGood Morning
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Trade active
UPDATEOver 150 pips running in profit from two buy positions, time to secure position while we look out for more trading opportunities.
Trade closed manually
After exiting the buy position with a minimum profit of 150, we're now poised for an anticipated uptrend continuation. As the price retraces and retests the ascending trendline with evident buying pressure, our focus remains on identifying additional buying opportunities. We'll maintain this outlook as long as the price remains above the trendline, with a keen eye on potential momentum shifts only when the ascending trendline is broken; please take note that market participants in the meantime anticipate the upcoming US ISM Services PMI, alongside secondary activity indicators and employment data for more momentum cues.Good Morning
Trade active
Just as discussed during our live session this morning, buying pressure resumes and forms a reversal pattern right above the asccending trendline.Trade active
In response to mounting concerns over the potential intervention to support the Yen, all buy positions have been closed as the price comes back to our entry zone. This decision aligns with the strong warning issued by Japan's top currency diplomat, Masato Kanda, signaling potential intervention measures if speculative movements persist.As a result, selling pressure has regained momentum, with buyers encountering formidable resistance around the 147.600/147.800 zone. This situation elevates the likelihood of a breakdown in the ascending trendline, which could trigger a substantial sell-off. We'll closely monitor this development and adapt our strategy accordingly to stay ahead in the market.
Good Morning
Trade active
Just as discussed during our live session this morning; sell position triggered and it is time to secure the position.Trade active
UPDATETrade active
Selling pressure persists as price action remains below the critical level we discussed in our live session yesterday at 147.450. However, it's important to keep an eye on potential bullish signals, especially considering the consistent buying pressure observed around the 147.000 zone since the beginning of the week. Even the less-than-expected GDP data, showing a 1.2% expansion in Japan's economy, hasn't provided much support for the Yen 💴.We find ourselves in a somewhat indecisive phase at this juncture. If you have any active sell positions, it's prudent to secure them, as buying pressure could emerge at any moment. Stay vigilant and adaptable in this evolving market.
Good Morning
Trade active
Just as discussed during our live serssion this morning; buy position triggered at the breakout of bothe the descending trendline and the 147.450 level
Trade smart. Trade consciously
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