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USD/JPY Technical Analysis: (READ DESCRIPTION)USD/JPY Technical Analysis: Bullish Momentum Expected Pivot Point: 150.45 The pivot point at 150.45 serves as a key level of support for USD/JPY. As long as the price holds above this level, bullish momentum is anticipated. Our Preference: Long Positions Recommended Trade: Long positions are favored as long as the price stays above the 150.45 pivot point. This sets up the potential for upward movement toward resistance levels. Target Levels for Upside Movement: First Target: 151.10 This is the immediate resistance level where traders may take profits or evaluate a continuation of the bullish momentum. Second Target: 151.60 If the first target is surpassed, the pair could extend its gains toward the 151.60 level, signaling further bullish movement. Alternative Scenario: Downside Risks If the price falls below 150.45: Bearish Outlook: First Target: 150.10 Second Target: 149.70 These levels represent potential support zones in case of a bearish reversal. Technical Insights: RSI Indicator: The RSI is mixed but leans bullish, suggesting the potential for further upside if momentum builds. Traders should keep an eye on this indicator for confirmation of a stronger move.
by CharivapaAlgo
Levels discussed on 22nd October Livestream22nd October DXY: retracing, testing 103.80 support level, needs to stay above 103.60, to continue uptrend to 104.20. NZDUSD: Sell 0.6015 SL 20 TP 40 AUDUSD: Stays below 0.67, Sell 0.6680 SL 20 TP 60 GBPUSD: Retracing, Look to test and reject trendline, Sell 1.3025 SL 20 TP 50 EURUSD: Look for reaction at 1.0780 support level or 1.0870 resistance level USDJPY: Buy 151.15 SL 40 TP 65 USDCHF: Sell 0.8630 SL 10 TP 20 USDCAD: Buy 1.3860 SL 20 TP 60 Gold: Look for retracement possibly to 2715, buy on dip, for 2750 target
TVC:DXY
by JinDao_Tai
USDJPY Will Go Lower! Short! Take a look at our analysis for USDJPY. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 150.710. The above observations make me that the market will inevitably achieve 148.225 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
EUR/USD: Watch for the Rebound!EUR/USD began the week on a bearish note, hitting 12-week lows near 1.0800 as the US dollar remains strong, supported by solid economic fundamentals and rising US yields. Key support levels are at 1.0811 and 1.0775, while major resistance is seen at 1.0930 and 1.1040. The macroeconomic backdrop favors the dollar, with the Fed remaining cautious on rate cuts, and the ECB, despite a recent rate cut, facing weak growth and declining inflation. A drop below 1.0800 could accelerate losses, while a recovery above 1.0875 would be the first positive signal.
Long
by Forex48_TradingAcademy
1
Fundamental Market Analysis for October 22, 2024 USDJPYThe Japanese yen (JPY) appreciated against its US counterpart during Tuesday's Asian session, partially recovering from the previous day's decline to its lowest level since late July. The recent verbal intervention from the Japanese authorities, coupled with a slight deterioration in global risk sentiment, have been instrumental in providing support to the safe-haven yen. However, the potential for gains for the yen is constrained by uncertainty surrounding the timing and pace of further interest rate hikes by the Bank of Japan (BoJ). Meanwhile, concerns over the possibility of a widening budget deficit following the US presidential election on 5 November and bets on a less aggressive easing policy from the Federal Reserve (Fed) have pushed US Treasury yields to their highest levels in almost three months. This could result in significant appreciation of the Japanese Yen being contained. In addition, the underlying bullish tone on the US Dollar (USD) supports the prospects of some dip-buying in the USD/JPY pair. Trade recommendation: Trading predominantly Buy orders from the current price level.
Long
by Fresh-Forexcast2004
USD/JPY: Japan’s Snap Election Opportunities Japan is holding a snap election this Sunday, triggered by a scandal within the ruling Liberal Democratic Party (LDP), despite a general election not being due until late 2025. The LDP, which has dominated Japanese politics for all but four of the last 65 years, has seen its popularity plummet. In June, its poll numbers hit their lowest point this century. While some polls predict the party could cling to its majority, bolstered by a fragmented opposition, fresh data from the Nikkei suggests a different outcome. The business daily warns that the LDP may fall short of securing a majority, a result that could lead to political upheaval not seen since 2009. Pullbacks in USD/JPY have been lessening since early October, and after clearing the 150.00 mark, the next targets for the bulls may be the 200-Day Moving Average and the range between 150.90 and 151.10. Amid a snap election, 152.00 is also a possible target. If the pair experiences another pullback, traders might consider a mid-point of current price action as a potential resistance level.
by BlackBull_Markets
USD/JPY (READ DESCRIPTION) USD/JPY Pivot Point: 149.55 The pivot at 149.55 serves as a critical support level, signaling the potential for upward movement if the price holds above this point. Our Preference: Long Positions Recommended Trade: Long positions are favored as long as the price stays above 149.55, suggesting a potential for further upward movement. Target Levels for Upside Movement: First Target: 150.15 This level acts as an initial resistance point, where traders may evaluate profit-taking or further bullish potential. Second Target: 150.30 If the first resistance level is breached, USD/JPY could extend gains toward 150.30, indicating continued bullish momentum. Alternative Scenario: Downside Risks If the price drops below 149.55: Bearish Outlook: First Target: 149.35 Second Target: 149.10 These levels serve as potential support zones if a bearish reversal occurs. Technical Insights: RSI (Relative Strength Index): The break above 149.55 indicates a positive signal, with the RSI supporting further upside movement, reflecting increased buying interest. Support and Resistance Levels: As long as 149.55 holds as a key support level, the likelihood of continued bullish movement remains high. Momentum Indicators: The overall price action shows an upward trend, and momentum indicators such as MACD may confirm the potential for further gains.
by CharivapaAlgo
Levels discussed on Livestream 21 October21st October DXY: needs to stay above 103.40 to continue uptrend to 103.90, beyond that 104.20 NZDUSD: Sell 0.6040 SL 30 TP 60 AUDUSD: Sell 0.6635 SL 20 TP 60 GBPUSD: Sell 1.2950 SL 30 TP 130 EURUSD: Look for reaction at 1.08-1.0780 support level USDJPY: Buy 150.50 SL 30 TP 120 (Hesitation at 150.90-151) USDCHF: Buy 0.8680 SL 35 TP 70 USDCAD: Could climb higher, looking for reaction around 1.39 Gold: Look for retracement to complete, then continue uptrend to 2750 (needs to stay above 2700)
TVC:DXY
by JinDao_Tai
USDJPY moves sideways on positive conditionsAs the US presidential election is approaching, uncertainties will become the main focus of the market. Signs that former President Donald Trump's chances of winning the November election are increasing could contribute to the dollar's overall performance. can keep US interest rates high, thus increasing the appeal of the USD. In the short term, the Bank of Japan's policy statement on October 31 is a notable factor in the near term for USD/JPY and the Bank of Japan's clear attitude towards the adjustment should be observed. On the daily chart, OANDA:USDJPY continues to move sideways but in terms of the overall picture, the possibility of price increases still prevails. The main uptrend is noted by the price channel with key support at EMA21, and as long as USD/JPY remains above EMA21 and within the price channel, it still has a technical upside prospect in the near term. On the other hand, once USD/JPY breaks the confluence of the upper channel edge along with the 0.50% Fibonacci retracement level it will have room to continue rising with a target then around 151.866 in the short term, more than Fibonacci level 0.618%. The relative strength index is flat above 50 but has not yet reached the overbought area, showing that there is still room for price growth ahead. The general assessment, trend and outlook of USD/JPY is technically bullish and notable levels will be listed as follows. Support: 149.364 – 148.823 – 148.113 Resistance: 150,739 – 151,866
by Xayah_trading