Usd-jpy
USDJPY Potential For Bearish ContinuationLooking at the H4 chart, my overall bias for USDJPY is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a sell at 131.510, where the overlap resistance and 50% Fibonacci line is. Stop loss will be at 134.778, where the previous swing high is. Take profit will be at 127.220, where the recent low is.
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📉 USD/JPY Continuation Of Declines? 📉📉 USD/JPY Continuation Of Declines?
📉 Nearest strong support zone: around recent lows.
📉 Nearest strong resistance zone: around recent local highs.
📉 Technical environment:
- Moving averages: Downtrend
- MACD: Uptrend
- RSI: Downtrend
📉 Price Action: USD/JPY It has been continuing its downward trend for quite some time, all due to the BOJ's change in monetary policy stance, on January 18 during the Asian session there will be a Monetary Policy Statement which I think will have a big impact on the market, expect high volatility, in my opinion this will be the next impetus for the Japanese yen to strengthen against other currencies.
📉 The scenario I am playing out is a continuation of declines over the coming months. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
📉 Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
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USD/JPY | Short Position AssumptionAppears to be a dovish (*cough* *cough*) week ahead for the USD off the back of major macro prints coming in weak on Thursday (19/01/2022 GTM+11). Expecting upside on the JPY off the back of the indicated dovish (*cough* *cough*) prints. further expecting long run buy side momentum on the JPY in response to recent BOJ stimulus and inflation band talks . This is not a signal nor trading advice merely just an assumption on potential market price. Please trade at your own risk. !! i'm not liable for any losses incurred from sentiment perceived from this post !!
USD/JPY:SELL From Pullback 129.000 For A SHORT ContinuationA generally positive tone around the equity markets undermines the safe-haven Japanese Yen and lends some support to the USD/JPY pair. The USD/JPY is still inside a bearish channel in a strong rally where we can see today the price makes a bearish Flag after a pullback of area 129.000 Price may continue today to drop more and increase the value of the Yen.
should be targetting 127UJ is on the downside as mentioned previously on higher timeframe we do see the next level Support around 127.Should have more downside.
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USDJPY Nearing 1st Support. Rebound possible.The USDJPY pair is approaching the 1st Support level of 125.510 (May 24th 2022 formation) after a double top rejection last Friday. Trading inside a Channel Down for almost two months, naturally on very bearish 1D technicals (RSI = 30.378, MACD = -1.840, ADX = 17.362) with the RSI almost oversold, it is expected that a technical rebound will occur.
The short-term target is the top of the Channel, with a break capable of inflicting an extension as high as the 134.750 Resistance. The RSI's Rectangle can be a guide for buying/ selling inside the Channel Down.
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USD/JPY:BUY From 61.8% FIBO Level Pullback For A LONG SetupUSD/JPY is still in a consolidation area. The technical analysis shows in the last sessions the price reach the bottom around 129.500 Lower-low then a bullish impulse pushed the price to the creation of a new Higher-high at 134.800 where from 6 January the price made a retracement on the 61.8% Fibonacci level, exactly where we are now. Based on our analysis, the pullback on the 61.8% Fibo in confluence with the re-test of the dynamic trendline may push the price higher at least to reach the previous swing high, a possible extension of this movement to area 100% Fibo extension isn't to exclude. The stochastic in 4Hours shows an oversold scenario and our Forecast is about a new Raising of the USD/JPY value.
USDJPY H1: Bullish outlook seen, further upside above 130.80On the H1 time frame, prices are approaching the support zone at 130.80, in line with the Fibonacci confluence levels where a throwback to this zone could present an opportunity to play the bounce. Stochastic is approaching support at 2.73 as well, supporting the bullish bias. Failure to hold above the support zone at 130.80 could see prices push lower to test the support zone at 129.50.