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Usd-jpy

Navigating Trends:USDJPY Selling Opportunity Amid inflation easeThe current downtrend of USDJPY reflects a sustained downward trajectory, with the currency pair currently navigating a correction phase. This correction is steadily approaching the trend at the critical 142 support and resistance area, a numerical level of historical significance. The convergence at this juncture presents an opportune moment where the ongoing correction may interact with substantial market forces, potentially offering strategic entry points for traders. Delving into the macroeconomic landscape, the recently released Consumer Price Index (CPI) data reveals a noteworthy trend of easing inflation. Examining the data points from October 25, 2023, where the actual inflation rate of 1.2% surpassed the forecast of 1.1% and the previous 0.8%, it becomes apparent that inflation figures have been gradually moderating over recent quarters. This evolving inflation scenario may significantly influence the decisions of the Federal Open Market Committee (FOMC) in the upcoming meetings. As we look ahead, the expectation is that the FOMC could adopt a dovish stance, given the trend of easing inflation. These insights gleaned from the shared CPI data present a compelling narrative, suggesting a potential weakness in the dollar in the early months of the next year. Trade safe, Joe.
Short
by JoeChampion
USDJPY Bottom of Bullish Megaphone. Long-term buy.USDJPY is on the MA200 (1d) on top of the Rising Support Zone. That is the bottom layer of the long term Bullish Megaphone pattern, a very strong rebound range. Trading Plan: 1. Buy on the current market price and as long as the price stays on the Support Zone. Targets: 1. 151.980 (Resistance 1, the previous High). Tips: 1. The RSI (1d) has formed a Double Bottom exactly on the oversold 30.00 level. An additional strong buy signal. Please like, follow and comment!! Notes: Past trading plan:
Long
by TradingBrokersView
USDJPY Potential DownsidesIn today's trading session, our primary focus is on USDJPY, where we are actively monitoring a potential selling opportunity around the 142.500 zone. Presently entrenched in a downtrend, USDJPY demonstrates a sustained downward trajectory. Concurrently, the currency pair is navigating a correction phase, steadily converging towards the trend at the pivotal 142.500 support and resistance area. This numerical level holds significance as both a historical support point and a crucial juncture where the correction may intersect with substantial market forces. Our strategic approach for today involves a meticulous assessment of optimal entry points within the identified 142.500 zone. Aligning our trading decisions with the ongoing downtrend and the potential market dynamics at the critical support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified selling opportunity within the broader context of USDJPY's current trend.
Short
by JoeChampion
USDJPY Potential DownsidesIn today's trading session, our attention is focused on USDJPY, as we actively monitor a potential selling opportunity around the 142.600 zone. Having previously traded in an uptrend, USDJPY has recently undergone a notable shift, successfully breaking out of the uptrend. Presently, the currency pair is in a correction phase, gradually approaching the retrace area at the crucial 142.600 support and resistance zone. This numerical level holds significance as both a historical support point and a pivotal juncture where the ongoing correction may encounter notable market forces. Our strategic approach for today involves a careful assessment of optimal entry points within the identified 142.600 zone. Aligning our trading decisions with the recent trend reversal and the potential market dynamics at the critical support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified selling opportunity within the broader context of USDJPY's current trend.
Short
by JoeChampion
USDJPY Potential DownsidesIn today's trading session, our primary focus is on USDJPY, as we carefully monitor a potential selling opportunity around the 145 zone. Presently entrenched in a downtrend, USDJPY demonstrates a sustained downward trajectory. Concurrently, the currency pair is navigating a correction phase, steadily converging towards the trend at the pivotal 145 support and resistance area. This numerical level holds significance as both a historical support point and a crucial juncture where the correction may intersect with substantial market forces. Our strategic approach for today's session involves a thorough assessment of optimal entry points within the identified 145 zone. Aligning our trading decisions with the ongoing downtrend and the potential market dynamics at the critical support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified selling opportunity within the broader context of USDJPY's current trend.
Short
by JoeChampion
1
USDJPY: CURVE ANALYSIS (1D)-SL @ 151.95 🚫 SLO @ 147.59 (conservative) ⏳ SSO @ 146.84 (moderate) ⏳ TP1 @ 143.60 (shaving 25%) TP2 @ 139.60 (shaving 25%) TP3 @ 136.70 (shaving 25%) TP4 @ 132.20 (shaving 25%) TP5 @ 129.60 (closing ALL Sell Orders) BLO @ 128.50 (1D) ⏳ -SL @ 127.22 🚫 NOTES: PA has been hanging out in the Supply Zone for over 95 days!!! 📉 AND NOW, it's ready to tank from here ✨ TECHNICAL ANALYSIS The USDJPY is currently trading at 147.243, down 2.2769% from the previous close. The pair is currently in a downtrend, as evidenced by the following technical indicators: — Moving averages: The 20-day, 50-day, and 200-day moving averages are all sloping downwards. This suggests that the downtrend is likely to continue. —Relative strength index (RSI): The RSI is currently at 32.25, which is below the 30 level that is considered to be oversold territory. This suggests that the pair may be due for a bounce. — MACD: The MACD is currently below the signal line, which is another indication that the downtrend is likely to continue. ✨ FUNDAMENTAL ANALYSIS The USDJPY is a popular currency pair to trade because it is considered to be a safe haven currency. This means that investors tend to buy USDJPY when they are worried about the global economy. The Japanese yen is also considered to be a currency that is sensitive to interest rate differentials. This means that the USDJPY tends to rise when interest rates are higher in the United States than in Japan.
Short
by ProfessorCEWard
1
US Dollar Steadies as Market Awaits Economic Data, Yen SoftensIn early European trading, the US dollar steadied near a one-week high against a basket of currencies, holding at 103.559 on the Dollar Index. This stability follows a period of weakness in November, marked by traders anticipating significant rate cuts by the Federal Reserve in the coming year. However, recent actions have seen a shift in sentiment as investors scaled back on dovish expectations, waiting for crucial economic indicators this week, including job openings, ISM services activity data, and the highly anticipated nonfarm payrolls report on Friday. Amid this anticipation, the Japanese yen experienced a slight dip against the dollar, trading at 147.08, influenced by concerns over inflation. Tokyo's Core CPI for November showed a decrease to 2.3%, down from October's 2.7% and below the expected 2.4%. The Bank of Japan remains cautious about tightening its monetary policy despite persistent inflation above the 2% target, citing the need for sustained wage growth for long-term inflation sustainability. The BoJ's upcoming meeting in mid-December will be closely watched for any potential policy shifts. As for the US, focus is on the imminent release of the ISM Services PMI, being for November hovering around 52.7 after October's decline to 51.8. Meanwhile, technical analysis for USD/JPY indicates resistance levels at 148.77 and 147.72, with support at 146.48 and 145.96 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Short
by legacyFXofficial
USDJPY: Bottom of Channel Up. Time to decide.USDJPY is trading inside a Channel Up since the start of the year, with the 1D technical outlook just turning red (RSI = 40.803, MACD = -0.760, ADX = 32.756) as the price reached its bottom under the 1D MA100. The 1D RSI shows a rounded bottom, as it did on March 24th, so it is an optimal level to buy and target the R1 level (TP = 152.000). Since though the November 13th top and rejection happaned on that R1 level itself, it is not impossible to see the Channel Up finally break and start a long term correction. Consequently if the price crosses under the dotted trendline, we will target the 1D MA200 initially (TP1 = 143.050) and following a relief rebound, eventually aim for the S1 level (TP2 = 138.085). See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
USD/JPY Remains Bearish Trend: What Comes Next?After descending from a double top formation at 151.54, USD/JPY established a support level at 148.25. However, it has recently breached this support, indicating a potential move towards the next support level at 145.53. Investor attention was captivated early on Friday by Japan's unemployment data. The unemployment rate saw a decline from 2.6% to 2.5% in October. Additionally, the jobs-to-applications ratio edged up from 1.29 to 1.30, reflecting further positive developments in the job market, despite expectations for these figures to remain steady. The strengthening labor market in Japan may bolster consumer spending. Increased consumer activity could spur demand-driven inflation, which might lead to a shift in the Bank of Japan's monetary policy, particularly regarding the current negative interest rates.
Short
by Official_4e
USDJPY Bullish above the 1D MA100, bearish below it.The USDJPY pair has been trading within a Channel Up since the March 08 High, giving us numerous opportunities to buy low and sell high (see chart below): Supported by the 1D MA100 (green trend-line) since April 17, the price is now within that and the 1D MA50 (blue trend-line) which has previously been the most optimal buy level within the Channel Up. Considering also the fact that the 1D CCI bottomed and bounced on November 21 on the -200.00 level, which has been the ultimate buy signal since the start of the year, the bullish sentiment is higher than ever. As long as the 1D MA100 holds, we will be bullish, targeting 154.000, which represents a +4.83% rise from the bottom, the minimum % rise within this pattern. If the price action closes a 1D candle below the 1D MA100, we will take the buy's loss and instead sell the break-out, targeting a potential contact with the 1D MA200 (orange trend-line) at 143.550. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
2
USDJPY 26/11/23Unlike the other USD pairs this pair is being powered by a secondary which is the JPY of course we know we are in a bullish range here as we can see clearly from the swing high and swing low representation but we have to keep in mind even though bullish price action is probable we are getting very close to the 15O level which is the BOJ intervention level and we do not want to get caught up with any moves powered by them. Main target for me here is to take lungs from the lower end of this range and trade to the high of the range I do not wish to try and trade outside of this range because we will be too close to the 150 level.
by PipSurfingSociety