Usd-jpy
USDJPY 4hour Analysis January 1st, 2023USDJPY Neutral Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: We are clearly looking bearish on UJ as expected due to DXY falling.
There is a strong likelihood we will continue bearish this week but personally I am not satisfied with the current price action, we are a bit extended with a large amount of volume still in the market.
The safest and most ideal scenario would be entering long for a retrace up to 135.000 resistance & our 61.8% fib level.
Trade scenario 2: The other likely scenario is that UJ continues to plummet without any structure. This would make a safe trade scenario very difficult to spot.
💱USD/JPY End Of Downward Correction💱💱USD/JPY End Of Downward Correction
💱Today we made a downward correction which with its range brought the price to the support level set in the previous post
💱The technical environment still favors growth so I am not worried about my upward scenario.
💱The scenario I'm playing out is the continuation of growth to the vicinity of the 0.236 level of the entire downward wave from the peak to the current bottom. 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.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
USDJPY H1: Bullish outlook seen, limited upside above 133.20On the H1 time frame, prices are approaching the support zone at 133.20, in line with the 38.2% Fibonacci retracement level and a throwback to this zone presents an opportunity to play the bounce to the resistance zone at 135.60. This resistance zone is also the previous graphical area that has been tested as both a support and resistance. Prices are holding above the Ichimoku cloud as well, supporting the bullish bias.
💱USD/JPY Opportunity For Continued Increases💱💱USD/JPY Opportunity For Continued Increases
💱This post is a direct continuation of my previous post:
💱After the declines of December 20 due to the intervention of the Bank of Japan, the USD/JPY is doing quite well in terms of increases.
💱It can be seen that the sentiment is still pro-growth.
💱Also, the technical environment supports pro-growth scenarios.
💱It looks like there is a high probability of reaching the resistance zone marked on the chart, which is located around the 0.236 level of the entire downward wave from the peak to the current low.
💱I determined the support zone based on where the price has repeatedly found support as well as resistance.
💱The scenario I'm playing out is a continuation of growth to the vicinity of the resistance zone. 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.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
💱USD/JPY Time for correction💱💱USD/JPY Time for correction
💱The Japanese yen has shown strength in the last week, on Tuesday we moved down more than 4% due to the Bank of Japan's intervention.
💱After landing on a strong support zone, we began to form a small upward correction.
💱In my opinion, there is a chance that it will even reach the vicinity of the nearest resistance zone, after which there is a good chance for the continuation of declines.
💱The technical environment is still very pro-downtrend, but in my opinion, from the current levels, there is little chance for the continuation of the declines.
💱The scenario I am playing out is the execution of an upward correction, after which I will watch and look for opportunities to continue the declines. 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.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
💡USDJPY - Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 141.696, resumption of downtrend is expected.
We make sure when the support at 130.351 breaks.
If the resistance at 141.696 is broken, the short-term forecast -resumption of downtrend- will be invalid.
We will close our open trades, if the Midterm level 141.696 is broken.
Technical analysis:
While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 138.175 on 12/15/2022, so more losses to support(s) 131.500 and minimum to Major Support (130.351) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 36.
Take Profits:
145.094
141.696
139.340
137.355
134.672
131.500
129.442
126.409
121.271
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💡USDJPY - Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 141.696, resumption of downtrend is expected.
We make sure when the support at 130.351 breaks.
If the resistance at 141.696 is broken, the short-term forecast -resumption of downtrend- will be invalid.
We will close our open trades, if the Midterm level 141.696 is broken.
Technical analysis:
While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 138.175 on 12/15/2022, so more losses to support(s) 131.500 and minimum to Major Support (130.351) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 36.
Take Profits:
145.094
141.696
139.340
137.355
134.672
131.500
129.442
126.409
121.271
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
USDJPY 1 HOUR IDEA HELLO GUYS THIS MY IDEA 💡ABOUT USDJPY is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the sellers from this area will be defend this SHORT position..
and when the price come back to this area, strong sellers will be push down the market again..
DOWNTREND + SUPPORT from the past + Strong volume area is my mainly reason for this short trade..
IF you like my work please like and follow Thanks
Weekly / Intraday Analysis - (19 - 23 Dec 2022)At FOMC monetary policy last Thursday, Santa Powell threw a flash grenade at the market leaving everyone stunned and paralyzed.
Fundamental wise, although the FED's minor shift in monetary policy reducing rate hikes to 50 BPS from 75 BPS, it is still considerably a stronger rate hike as compared to 25 BPS in terms of rate hikes as a whole. Accompanied with Santa Powell's firm speech on fighting inflation and reducing rate hikes to 2% which is floating at 4.5% as we speak, the FED still have a long and tough road ahead.
KIV: Russia's rumor on selling OIL against GOLD WILL result in a rally on gold and demise of the dollar. If this news is to be proven true, GOLD may break ATH and double in value to USD 3600/ ounce even.
On the technical standpoint, after every major rally/ dive in markets, we will have a pull back on gold and the dollar, as per seen gold has broken its bullish market structure from 1616 KL. Its highs printing at 1824 KL and LL at 1777 KL. What we want to be looking at will be gold forming LH and LL instead of breaking previous highs to signify a reversal towards 1616 KL taking price level by level.
Will be giving a few scalps and intraday plays:
Scalp
Buys:
- 1795 - 1808 KL
- 1815 - 1824 KL
Sells:
- 1775 - 1768 KL
Intra-day
Sells:
HRHR : 1822 KL
MRMR: 1811 KL
Safer: 1765 KL
Buys:
HRHR: 1795 KL
MRMR: 1815 KL
Safer: 1825 KL
Range plays:
HRHR sells: 1804 KL
MRMR sells: 1795 KL
USDJPY H4: Bullish outlook seen, further upside above 137.80On the H4 time frame, prices are facing bullish pressure from the support zone at 134.00 and a break above the upside confirmation level at 137.80 could provide the bullish acceleration to the resistance zone at 145.30. The upside confirmation level at 137.80 coincides with the 23.6% Fibonacci retracement level. Prices are holding above the 50EMA and Ichimoku cloud as well, supporting the bullish bias.
USDJPY 4hour Analysis December 18th, 2022USDJPY Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Looking overall bearish still but this week we are waiting for reactions near our 137.000 zone.
If we are to continue bearish we need to see strong rejection from 137.000 with lower highs below. Look to target lower toward key support levels.
Trade scenario 2: For us to consider UJ bullish again we first need to see a break above 137.000 with a higher low above.