Happy Pi Day, Is it time for USD strength in the USDJPY
Tonight we have US retail sales data to be released, with analysts forecasting strong data of 0.3% from last month’s -0.3%. If data comes out as expected or higher, we could see the beginning of some USD strength. However, even with USD strength, I’ll only look for trades with USD strength in USDJPY (bouncing off 106.50) or AUDUSD (buoyed by positive CNY data).
Usd-jpy-buy
USDJPY above 107Could 107 be the barrier, once broken will bring about 108 and 109 for the USDJPY.
Whilst volatility is seen in the USD, it is also slowly gaining strength.
Although the BoJ seems to be moving away from its aggressive stimulus plan, forgoing a 2% inflation target, the Yen seems to be bought only on risk-off situations (reserve assets are bought).
Therefore, if the current market conditions maintain, we could see the USDJPY move above 107 and beyond.
Took a Buy on USDJPY Today Hi traders.
Today I added to my buy position on the intraday dip. I saw price approaching s1 at 113.63 quickly and anticipated the stop run reversal. I placed my buy order just ahead of s1 and will be holding this long throughout the rest of the day and tomorrow. I would like to see a push up into the key psychological resistance level of 115, but let's see how it plays out.
Enjoy!
USDJPY Q2 Upside Target Hello traders.
USDJPY is set to hit 115 by Q2, but by the looks of things this may very happen sooner rather than later. As such, dips will be viewed as value buying opportunities until upside targets are hit or proven otherwise.
I hope this information is useful to both short-term and long-term traders in determining major market direction.
Enjoy and remember to follow!
USDJPY Institutional Levels to Watch TodayGood morning traders! USDJPY has been drifting higher throughout the Asia session, however I'm not sure we will see new highs. We still have to get through 118.66 in order to see any continued upside. It is very possible that this is just a second attempt at the highs before this pair rolls over and continues it's corrective pullback. If this pair fails to break above and sustain above 118.66 expect continued consolidation/downside.
USD / JPY Buy SetUp - WAITING FOR THE FOMCUSD / JPY Buy SetUp - WAITING FOR THE FOMC
iT SEEMS LIKE WE HAVE A GREAT OPORTUNITY HERE, WILL GIVE THE INDX AN IMPULSE AS WELL, LETS SEE WHEN THE MARKET START TO MOVE - IT CAN BE AFTER OR BEFORE THE NEWS.
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