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Usd-jpy

USDJPY Outlook 13 April 2023The USDJPY trades along the 133 support level and could see further downside as the DXY continues to weaken. However with the continual divergence in monetary policy between the US Federal Reserve and the BoJ, a rebound to the upside is likely to always be on the cards. If the USDJPY breaks strongly below 133 (and more crucially below 132.70) the price could trade down to 132. Looking for a possible test and rebound from the 132 round number support level
Short
by JinDao_Tai
USDJPY: Very clear levels to trade.The USDJPY pair is inside an Ascending Triangle on the 1D timeframe, around the 1D MA50 and with the technicals basically neutral (RSI = 56.011, MACD = -0.010, ADX = 22.352). Our trading plan is simple. Sell on the 1D MA200 and target the HL of the Triangle (TO = 132.000). Buy above the R1 and target the R2 (TP = 142.250). If we close under the HL of the Triangle, sell and target the S1 (TP = 127.300). Below the S1 target the S2 (TP = 122.000). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
USDJPY Outlook 11 April 2023With the overnight strength of the DXY, the USDJPY climbed steadily to the upside, as the price approached the 134 round number resistance area. Weakness in the Japanese Yen was also compounded by the statement from the new BoJ Governor Ueda, indicating that large scale monetary easing policy will continue. This was in contrary to the market anticipation that Governor Ueda could trim back on easing. While the USDJPY retraces from the resistance level, look for the price to bounce from either the 23.60% fib level which is also the 133 round number level, or more likely at the 132.60 price level which is the 38.20% fib level and the upward trendline providing support. Further upside on the USDJPY could see the price climb steadily toward the 135 key resistance level.
Long
by JinDao_Tai
USDJPY can break the 133? 🦐USDJPY after the test of the 137.500 area dropped with a series of lower low lower high until the 130 round zone. The market took the liquidity below the daily support and retest the 130.500 and started an impulse to the next resistance area which is the previous lower high. After the rejection by the 133 area the market retraced at the 0.786 Fibonacci zone and moved back to the daily resistance. According to Plancton's strategy IF the price will break above we can set a nice long order.
by InkyGrip
6
USD JPY - FUNDAMENTAL DRIVERSJapanese yen strength over time. While the yen underperformed during the global monetary tightening phase, in our view the currency will likely outperform as tightening cycles eventually come to an end and central banks turn to easing. Yen outperformance over time should also be supported by U.S. recession in H2-2023 as well as recent actions by the Fed, which have made U.S. dollar liquidity more readily available. And while the likelihood of a hawkish Bank of Japan (BoJ) monetary policy shift has perhaps diminished a little, if the global financial sector proves surprisingly resilient, the risk of a further policy adjustment from the BoJ could still reinforce the outlook for yen gains over the medium term as well.
by thunderpips
USDJPY Forming a bear flagHey Traders, USDJPY is forming a bear flag and now seems to be approaching an important weekly zone of 132 if we get a decent rejection i would target more lows. Fundamentally US data continue to print soft and signal no more rate hike from fed as inflation tensions are easing so the market is expecting more of a dovish upcoming monetary policies. JPY is considered also a safe haven along with CHF so i expect both to have a likelihood to outperform USD. Feel free to ask any question in the comment section. Trade safe, Joe.
Short
by JoeChampion
6
USD JPY - FUNDAMENTAL DRIVERSWhile the yen underperformed during the global monetary tightening phase, in our view the currency will likely outperform as tightening cycles eventually come to an end and central banks turn to easing. Yen outperformance over time should also be supported by U.S. recession as well as recent actions by the Fed, which have made U.S. dollar liquidity more readily available. And while the likelihood of a hawkish Bank of Japan (BoJ) monetary policy shift has perhaps diminished a little, if the global financial sector proves surprisingly resilient, the risk of a further policy adjustment from the BoJ could still reinforce the outlook for yen gains over the medium term as well.
by thunderpips
USDJPY Reached our target. Critical move ahead.The USDJPY pair hit the sell target we set on our February 28 analysis as it got rejected on the 138.210 Resistance and dropped back to the (dashed) Higher Lows trend-line: As long as this trend-line holds, it is more likely to see one more rebound first to the 1D MA50 (blue trend-line) for short-term traders and then to the 1D MA200 (orange trend-line) for medium-term traders. A closing (1D candle) below the dashed trend-line, will be a sell break-out signal for us and we will take the small loss on the buy and target instead the January 05 2021 Higher Lows trend-line. Similarly, a closing (1D candle) above the 138.210 Resistance will be a buy break-out signal, targeting Resistance Zone 1. Notice the 1D RSI being on a Higher Lows trend-line of itself. A rebound or break below it respectively enhances the probabilities of buy and sell trades respectively. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
1
USDJPY Outlook 6th April 2023The USDJPY has been trading steadily to the downside, primarily due to the weakness of the DXY. As the USDJPY found the 130.50 price area (78.6% fib level from the longer term) overnight, price rebound slightly but continued to consolidate at the 131.20 price level, with the resistance level at the 131.70 level (38.2% fib level) and the downward trendline possibly capping significant upside potential. Look for the USDJPY to retest the resistance level before trading lower again, with the key support level at the 129.80 price level.
Short
by JinDao_Tai
USDJPY | Bearish Predicament Certainly, here's a revised version without adverbs and including the importance of waiting for price action: The USDJPY currency pair is currently trading at 131.200, but there are several indicators suggesting a potential downturn in the near future. The moving average ribbons indicate a bearish trend, which could signal a reversal in trend and a correction to the downside. Additionally, momentum indicators such as the Relative Strength Index and Stochastic Oscillator show overbought conditions, suggesting a weakening buying pressure and a possible shift towards a bearish sentiment. Furthermore, price analysis indicates that USDJPY may be headed for a decline as it has failed to break above the 132.000 resistance level and has formed a bearish head and shoulders pattern, both of which are classic technical signals for a potential reversal. However, it's important to note that one should wait for price action to confirm future price movements and where the market wants to go before considering any trades. Overall, based on the above indicators, there's a possibility of USDJPY declining to 129.740 in the near future, but it's important to wait for price action to confirm the direction of the market before making any trading decisions.
Short
by percifying
2
Selling USDJPY Yesterday we commented that we are not looking for an entry on the EURUSD and are looking at other instruments with clearer movement. One of these instruments is USDJPY. The 133.10-133.20 sell zone was determined by a Fibonacci retracement. A 180-pips decline followed, which we expect to continue. All stops can now be placed above 133.20 or at entry levels if made on the bounce. The target for this move is 128.65 and is again one of the main instruments we will be trading today.
Short
by ForexTrendline
2
USDJPY Breakout and potential retraceHey traders, USDJPY was trading in an uptrend but successfully managed to break it out as the environment of USD continue weakening. Fundamentally there are high expectations on a less restrictive monetary policy from the US as inflation tensions have eased. in a second point JPY is considered a safe haven with current banking sector crisis. Technically we will be watching a potential retrace of the trend around 132.2 support and resistance zone. Trade safe, Joe.
Short
by JoeChampion
15
USDJPY Outlook 3rd April 2023Currently, the price action on the USDJPY indicates the formation of a bullish ascending triangle (in fact as I type this, the price looks to be breaking to the upside, but still need for a confirmation signal) With the price rising on the bullish trendline and the interim resistance level of 133.60, a breakout to the upside could lead to a significant upside on the USDJPY, especially if the strength of the DXY drives it. Although the round number level of 134 could provide brief resistance, the key resistance level of 135 could be a possible target for this potential bullish breakout.
Long
by JinDao_Tai
USDJPY Outlook 31 March 2023The USDJPY climbed steadily to the upside, reaching the 133 resistance level overnight (this was discussed in the post on the 29th and during yesterday's webinar), with a continued push to the 133.50 price level early in the trading session today. As the USDJPY retraces from the 133 resistance level, if the price breaks below the bullish trendline, a more significant correction to the downside could be expected, with the key support level at 131.70 (61.8% fib retracement level) and the interim level at 132.35 (38.2% fib retracement level). However, if the DXY bounces from the 102 support level, this could drive the USDJPY higher, with the next major resistance level at 135
Short
by JinDao_Tai
USDJPY approaching an important supply zoneHey Traders, USDJPY is trading in a descending channel and extending pullbacks seems to be approaching the channel resistance around 131.7 Supply and demand zone. if the rejection is confirmed i would set the channel support as a target around 127.500 zone. Fundamentally JPY is considered a safe haven with current banking sector crisis and BoJ monetary policy changes expectations and the last FOMC have showed dovish sentiments from the fed since he didn't mentioned any further rate hikes in his speech. Trade safe, Joe.
Short
by JoeChampion
34