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USD/JPY Poised for Gains as DXY StrengthensThe US Dollar Index (DXY) continues its upward momentum as Treasury yields recover from recent losses, bolstering the Greenback’s strength. However, this rally may soon face headwinds, with growing market expectations of additional rate cuts by the US Federal Reserve (Fed) in 2024. Traders are now focusing on the upcoming US Flash Manufacturing PMI, which is due for release within the hour. The PMI data will offer a fresh perspective on the health of the US manufacturing sector, and any surprise in the numbers could influence the Greenback’s near-term trajectory. The Manufacturing PMI is expected to show a slight improvement, reflecting stabilizing economic conditions, but traders remain alert for any deviations from the forecast. According to the CME FedWatch Tool, there is a 50% probability that the Fed could reduce rates by as much as 75 basis points, bringing the federal funds rate to a range of 4.0-4.25% by the end of the year. This potential easing has kept some investors cautious, as it could curb the USD’s long-term gains. From a technical standpoint, we are seeing a key opportunity in the USD/JPY pair, which has rebounded from a strong demand area. The latest Commitment of Traders (COT) report shows that retail traders are still heavily short on the USD/JPY, while institutional "smart money" appears to be shifting its stance, reducing its bearish exposure. This setup aligns with our previous analysis, where we highlighted the potential for a long position as the pair regains upward momentum. As the USD/JPY continues to rebound from this demand zone, the conditions remain favorable for a long trade. The shift in sentiment among institutional traders, combined with the recovery in Treasury yields and the strength of the DXY, supports the case for further upside. However, traders should remain cautious as the Fed’s rate cut expectations may still influence broader USD sentiment in the months ahead. For now, the focus remains on the US PMI release and its impact on both Treasury yields and the USD. Should the data come in stronger than expected, it could provide additional fuel for the DXY’s rally, further reinforcing the bullish outlook for USD/JPY. Conversely, weaker-than-expected PMI data could reignite concerns about the Fed’s dovish outlook, potentially pausing the Greenback's current rally. We continue to monitor the situation closely, with a bullish setup in USD/JPY remaining a key focus in the near term. ✅ Please share your thoughts about USD/JPY in the comments section below and 👍 HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
1
GBPJPYAs per our last mind we asked you guys which pair you want and analysis for. The public has asked for GBPJPY . Here is our view. As of now, GBPJPY is sitting at our PBA 2 (Pullback Area). If we break above 193.290 (October 1st highs) we will continue to the upside . However , If we break below our PBA 2 192.000 , we could see a downside move to our PBA 1 . Breaks below could also result in lower prices. We advise you not to enter in any trades until breaks of either 193.290 or 192.000 . We will send out the update once a break happens. KEY NOTES - GBPJPY has fallen to our PBA 2. - Important levels to break are 193.290 or 192.000. - Break above 193.290 would confirm higher highs. - Break below 192.000 would confirm lower lows. Happy trading! FxPocket
by FxPocket
2
JPY Faces Further Downside as DXY Surges on Powell's RemarksThe US Dollar Index (DXY) has risen sharply, nearing the 101.00 level, in response to recent comments made by Federal Reserve Chair Jerome Powell. Powell’s remarks signaled that while the Fed remains cautious about future rate cuts, any adjustments would be gradual, contributing to the strengthening of the US Dollar. This move has had ripple effects across currency pairs, most notably with the Japanese Yen (JPY), which has begun a reversal from a key supply area that was identified in our analysis last week. The price action of the JPY has played out as anticipated, with the pair hitting our first take profit target. The reversal came as the US Dollar gained momentum, pushing the Yen lower. You can view the previous analysis that accurately predicted this movement in the following idea: As we look ahead to the upcoming trading sessions, a potential for further bearish momentum in the JPY is on the horizon. The next significant catalysts for the market will be today’s release of the ISM Manufacturing PMI and JOLTS Job Openings data from the US. Should these reports come in stronger than expected, it could fuel another bullish impulse for the US Dollar, potentially driving the DXY higher and triggering further downside for the Yen. The ISM Manufacturing PMI is a critical indicator of the health of the US manufacturing sector, and positive results would signal continued economic expansion, lending further strength to the Dollar. The JOLTS Job Openings data, which provides insight into labor market conditions, will also be closely watched. A strong labor market reading would add to the case for the Fed to take a measured approach to rate cuts, reinforcing the current bullish sentiment surrounding the USD. Given these dynamics, traders should remain alert for the possibility of a fresh bearish wave in the JPY, especially if the US economic data reinforces the current narrative of USD strength. The technical setup from last week’s supply area continues to offer a solid framework for managing positions, with further take profit levels within reach should the bearish trend in the Yen persist. In conclusion, the DXY’s rise near 101.00, supported by Powell’s comments, has already triggered a significant move in the JPY, and the upcoming ISM and JOLTS data could provide additional fuel for further bearish action. Traders should keep an eye on key levels and be prepared for another bearish impulse in the JPY if the USD continues its upward march. ✅ Please share your thoughts about JPY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
CME:6J1!Short
by FOREXN1
1
Sell CAD/JPY Resistance ZoneThe CAD/JPY pair on the H1 timeframe presents a potential selling opportunity @ Resistance Zone Key Points: Sell Entry: Consider entering a short position around the current price of 108.25. Target Levels: 1st Support – 106.65 2nd Support – 105.48 Stop-Loss: To manage risk, place a stop-loss order above 109.02. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_FOREX_TRADING
15
GBPJPY: Bull Flag to start a great rally.GBPJPY is neutral on its 1D technical outlook (RSI = 54.480, MACD = 0.880, ADX = 34.811) as it's been basically consolidating since last Friday with the price ranging around the 1D MA50 and 1D MA200. This consolidation is being done while the 1D RSI shows a Bullish Divergence in a Channel Up. Last time this happened was in March 2023, a Bullish Flag that pushed the price later aggressively to the top of the 2 year Channel Up. We turn heavily bullish on GBPJPY (TP = 220.000). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
USD/JPY Recovers from Below 140.00 Area During BoJThe USD/JPY pair has staged an impressive recovery, pushing toward the 143.00 level in the European morning session, following an initial dip below 140.00. This move comes in response to the Bank of Japan's (BoJ) decision to maintain its ultra-loose monetary policy stance, as widely expected. Governor Kazuo Ueda's press conference reiterated the central bank's cautious approach toward tightening monetary conditions, which triggered a temporary pullback in the currency pair. From a technical standpoint, this recovery aligns with our prior analysis that pointed to a potential reversal within a demand zone near the 140.00 level. This area has acted as a key support, fueling buying momentum and setting the stage for a continuation of the long position. The price action suggests that buyers are still keen to capitalize on dips in the pair, particularly as USD strength remains broadly supported by the Federal Reserve's hawkish outlook. Further supporting the bullish outlook is the Commitment of Traders (COT) report, which shows that retail traders remain bearish on the USD/JPY pair. Typically, a contrarian view of retail positioning can indicate further upside potential, as institutional investors tend to take the opposite side of the trade. With retail sentiment still leaning toward the short side, it opens the door for continued upward movement in the pair, especially if market sentiment shifts further in favor of the U.S. dollar. As we look ahead, the USD/JPY appears poised to target higher levels, with 143.00 acting as an immediate resistance. Should the bullish momentum persist, traders may set their sights on a potential breakout, paving the way for a sustained move higher. All eyes will remain on global central banks and key economic data releases in the coming weeks, as these will likely play a crucial role in shaping the next leg of the USD/JPY’s trajectory. Previous Analysis ✅ Please share your thoughts about USD/JPY in the comments section below and 👍 HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
3
Overlap support ahead?AUD/JPY is falling towards the support level which is an overlap support that aligns with the 50% Fibonacci retracement and bounce from this level to our take profit. Entry: 99.77 Why we like it: There is an overlap support level that aligns with the 50% Fibonacci retracement. Stop loss: 98.59 Why we like it: There is an overlap support level which aligns with the 38.2% Fibonacci retracement. Take profit: 101.29 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
JPY Surge Ahead Could Trigger a Major Drop in GBB/JPYThe JPY Currency Index (JPYX) is approaching a key demand zone, highlighted in blue on the chart around the 748 level. After a sustained downtrend, this area is likely to serve as support, with a potential bullish reversal indicated by the projected price movement. A bounce off this zone could trigger a strong upward move, targeting higher levels. However, if the support breaks, further downside momentum may occur. Watching for confirmation of reversal patterns is crucial before entering any long positions. The zone presents a high-probability area for buyers to step in, but patience is required for confirmation. If the JPYX (Japanese Yen Index) bounces from the current demand zone and strengthens, we can expect the Japanese yen to appreciate. This would likely lead to a bearish impact on GBP/JPY, as a stronger yen typically causes a decrease in GBP/JPY price. The yen’s strength would outweigh the British pound, pushing the pair lower. On the other hand, if the JPYX breaks through this support level and weakens further, the yen would depreciate, driving GBP/JPY higher as the pound strengthens relative to the yen. Key points to watch: A JPYX bounce could trigger a GBP/JPY drop. A JPYX decline might result in a GBP/JPY rise. The exact impact will depend on the strength of the yen's reaction and how the pound performs during this period.
PEPPERSTONE:JPYXLong
by TopGBanks
Bearish reversal?USD/JPY is reacting off the resistance level which is an overlap resistance that is slightly below the 100% Fibonacci projection and could reverse from this level to our take profit. Entry: 145.72 Why we like it: There is an overlap resistance level that is slightly below the 100% Fibonacci projection. Stop loss: 147.15 Why we like it: There is a pullback resistance level. Take profit: 144.30 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
GBPJPY H1 - Short SignalGBPJPY H1 This play was huge yesterday, a monster 332 points in total we saw GBPJPY sell off, immediately from the EUR/LON bell too. Those first hourly candles sold off as much as 160 points, offering around 2 to 2.5R in very quick succession. This was really enjoyable to see unfold. No doubt ***GBP pairs as mentioned have be wild to trade recently, especially with the trading antics we saw on Friday, with the 600 point swing. Lets see what else is offered today, sitting on the side-lines until things start to shake up for us and offer the next entry points.
Short
by Trade_Simple_FX
Sell USD/JPY Channel BreakoutThe USD/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 143.77, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 142.13 2nd Support – 141.26 Stop-Loss: To manage risk, place a stop-loss order above 144.60. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_FOREX_TRADING
11
Seeking to fade into AUD/JPYA prominent bearish outside / engulfing day formed on Friday. Moreover, it failed to hold above the 200-day MA and closed the day back below the 100 handle. And its high almost perfectly respected the high-volume node (HVN) from the July high to August low. A bullish trend has developed on the 1-hour chart after the initial selloff found support around a 38.2% Fibonacci level. However, we're now seeking signs of weakness around the daily R1 pivot, or 10 handle resistance zone for a swing trade lower (given the strength of the bearish engulfing candle on Friday). The daily S1 and S2 pivot point around 99 and 98.50 respectively are downside targets for bears to consider. MS.
Short
by CityIndex
2
USD/JPY Analysis Update 01.10.2024USD/JPY Analysis Update: The market has moved slightly higher than expected, and currently, a bearish divergence appears to be forming on the 1H chart, indicating a potential pullback soon. We expect a support/resistance flip in the highlighted area on the chart, which served as resistance and now should act as support. This zone will be the entry level, with yesterday’s low as the invalidation point. The target remains unchanged from the previous analysis. Additionally, the diagonal trendline supporting the uptrend from yesterday’s low has been broken, which further strengthens the case for a potential pullback from the current levels. If the price holds above this level, we could see continuation; otherwise, a deeper correction might follow. ⚠️ Disclaimer: ⚠️ 🚫 This is not financial advice. Trade responsibly and conduct your own research before making any decisions.🚫
by RhinoAkaBear
USDJPY Short - A Bearish Setup in the Making?As we dive into the USDJPY chart, I'm seeing several key technical signals that suggest a potential move to the downside. Let’s break it down step by step: Weekly Timeframe: A Crucial Swing High First, we zoom out to the weekly chart, where we can observe that USDJPY is currently within a strong swing that recently broke a prior high. This is a crucial moment, as we often see a retest of the upper range of such a swing before the market decides its next move. Will it push higher, or are we preparing for a pullback? I’m leaning towards the latter. Daily Timeframe: Triple Failures at the High Dropping down to the daily, the story unfolds further. We’ve seen two previous attempts to break the current daily swing high, only for the market to flush down on this third attempt. This is my first major bearish signal, as failure to maintain momentum often precedes a reversal. 4-Hour Timeframe: No Support in the Pump On the 4-hour chart, things get even more interesting. I’m not seeing the kind of ladder formation that typically supports sustained pushes to the upside. Instead, the price action looks choppy, lacking the structure that would indicate buyers are in full control. This adds weight to the bearish case. Weak Stop-Loss Hunt: A Lackluster Liquidity Grab One more point to consider is the recent liquidity grab (or stop-loss hunt) on the 4-hour chart. While these wicks usually indicate a shakeout of weak hands, this one feels weak, more like a failed attempt to trap traders in the wrong direction. In my experience, when the liquidity grab doesn’t pack a punch, it often signals the market's lack of commitment to push higher. Timing is Key: The Tuesday Top Pattern Lastly, an interesting observation – USDJPY has a tendency to form local tops on Tuesdays, a pattern I’ve noticed over time. While this isn't a concrete rule, it’s an intriguing confirmation of the broader bearish setup we’re seeing here. Fundamental Analysis: Why the USDJPY Could Dump Fundamentally, USDJPY could be under pressure due to the divergence in monetary policy between the US and Japan. The Bank of Japan (BoJ) remains ultra-dovish, but there are growing signs of internal pressure to shift toward more normalization in policy, particularly with inflation running higher than expected. Meanwhile, the Federal Reserve has signaled that it may pause or slow its rate hikes as US economic growth moderates. This narrowing of the policy gap could weaken the dollar against the yen, especially if we start seeing signs of a BoJ shift or weaker-than-expected US data in upcoming releases. Furthermore, concerns over global growth and risk sentiment could lead to a stronger yen as a safe-haven asset. If the stock market falters, capital tends to flow back into the yen, exacerbating the potential for a USDJPY decline. Conclusion: Eyeing the Lower Range All things considered, USDJPY looks poised for a move lower. A retest of the lower range of the current daily swing seems likely before any potential attempt to push back to the upside. Understanding swing highs and lows and their respective ranges is a key tool in this analysis. Let’s see how the price action plays out in the coming sessions.
Short
by Entropie2020
GBPJPYGBPJPY . Potential long opportunity. We believe that GBPJPY will continue to the upside after coming down to our PBA (Pull Back Area). Our entry is sitting at the pullback area at 190.402 . We are looking for breaks of 193.289 and 195.862 which would confirm our target 197.500 where our TP is sitting at. Our SL is sitting at 188.127 and if broken, it would result in deeper pullbacks which would not be out of the ordinary based on a weekly timeframe. PARAMETERS - Entry: 190.402 - SL: 188.127 - TP: 197.500 KEY NOTES - GBPJPY has fallen to our PBA. - Break above 193.289 and 195.862 would confirm higher highs. - Break below our SL would result in deeper pullbacks. Happy trading! FxPocket
Long
by FxPocket
2
Bearish drop?GBP/JPY is rising towards the resistance level which is a pullback resistance that is slightly below the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 193.36 Why we like it: There is a pullback resistance level that is slightly below the 61.8% Fibonacci retracement. Stop loss: 195.91 Why we like it: There is a pullback resistance level. Take profit: 190.36 Why we like it: There is an overlap support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Beaarish reversal off 50%% Fibonacci resistance?EUR/JPY is rising towards the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 160.86 Why we like it: There is an overlap resistance level which aligns with the 50% Fibonacci retracement. Stop loss: 162.71 Why we like it: There is a pullback resistance level. Take profit: 158.65 Why we like it: There is an overlap support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
GBPJPY H8 - Short SignalGBPJPY H8 We have a nice setup here yet again, with our crosshairs on that 193 handle for GBPJPY. Last weeks price movement on Friday was wild, to say the least, over the eastern session we took off 100's of points, before closing the day down towards 190 price. 600 points from top to bottom we saw, from the likes of ***JPY, this was very impressive! With the exception of the fakeout to the upside, albeit it headline driven, we have now seen a subsequent correction, which takes us back towards that 193.000 handle, a confluence zone and an area we could look to sell. Stops would be around 50 points at 193.500 covering recent highs, and take profit targets would be every 100 points.
Short
by Trade_Simple_FX