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Usdjpyanalysis

USD/JPY: The Trend is still bullish in mid term....Hi everybody! On weekly Chart the trend is bullish , but although the pair formed a nice impulsive rally, at the moment, I still consider the main trend as a big corrective pattern (ABC Pattern). Even though the price rejected from 149.25 area (wave C), the wave was very steep and I don't rule out its transformation into an impulsive wave (12345). If this happens an ABCDE Pattern ( Flat Correction ) is possible. One aspect that should not be underestimated is the BoJ's changing of the guard. Kazuo Ueda is set to become the next governor of the Bank of Japan, succeeding current central bank chief Governor Haruhiko Kuroda. Both houses of Japan’s parliament now need to approve Ueda’s nomination. Prime Minister Fumio Kishida’s ruling coalition has a majority in both chambers. Parliamentary hearings are likely to take place on Feb. 24, Nikkei reported. Kishida recently emphasized the need for the next central bank governor to have “global communication skills” and be able to coordinate closely with global peers , Reuters reported, citing his comments in parliament... ...Current governor Kuroda was first appointed in March 2013. He has led the central bank’s ultra-dovish monetary policy , including maintaining a negative interest rate since 2016 – even as global peers have been hiking to tackle inflation . His current five-year term will end on April 8. Bank of America Global Research expects gradual policy normalization under the central bank’s new leadership instead of an abrupt change, according to the firm’s economists led by Izumi Devalier. The team said in a report that completely removing the central bank’s yield curve control – a policy of maintaining 10-year Japanese government bond yields within a 50-basis-point range of 0% – won’t happen any time soon. “We continue to think a change in the BoJ’s policy framework (including abandoning YCC and negative interest rates) will be delayed until mid-2024,” the economists said, adding that they expect to see “flexibility” in changing the current policy instead. The economists added that it’s “only a matter of time” before the Bank of Japan tweaks its yield curve control policy, and that they expect to see changes within the first half of 2023. Japan’s government also reportedly announced its nominees for other central bank roles including Shinichi Uchida, currently the central bank’s executive director, and Ryozo Himino, the former chief of Japan’s Financial Services Agency. “The government’s reported deputy governor picks are also well-suited to address the challenge of streamlining and winding down the BoJ’s expansive easing program, in our view,” the BofA economists said in their report ahead of the announcement. On trading side, technically speaking, if the trend is bullish , it should be correct to try to take Long position on any pullback or corrective structure above 132 area. Trade with care! 👍 ...and if you think that my analysis is useful, please..."Like, Share and Comment" ...thank you! 💖 Cheers! N.B.: Updates will follow below
Long
by TheAnonymousBanker
12
USDJPY → Bull Trend 1st Leg Complete! Long Again? Let's Answer.USD/JPY broke out of its descending wedge last week in a fantastic move toward the Resistance Zone (Now the Support Zone). We capitalized on that trade, you can find the details in the chart below. Are we ready for another long? USDJPY Trade - Last Week: How do we trade this? 🤔 We finished last week with a wild doji candle (one bar trading range) just above the 30EMA. That may have completed the first leg up in this new bull trend which has yet to be determined if it's a pullback on the macro bear trend or the start of another push up to higher highs. If it's a pullback in the bear trend, then we should expect no more than two legs to the upside before the price falls down again. If this is another run toward 152.000, then we should expect at least three legs to the upside. We do have justification to long on the Daily or 4HR. The Daily chart shows weakness above the 30EMA, the 4HR chart shows us stuck just below the 200EMA as shown in the following chart: USDJPY 4HR Chart: Both RSI's call for a pullback; the 4HR is high and below the Moving Average, and the Daily is around 50.00 but has a gap back down to the Moving Average. We need to wait for a pullback to happen which will likely bring the price toward the bottom of the Support Range around 143.800. At that price area, we need to look for a strong buy signal telling us we're going up for a second leg. Until then, it's best to wait on the sidelines for more price action and an optimal entry. 💡 Trade Idea 💡 Long Entry: 144.350 🟥 Stop Loss: 143.100 ✅ Take Profit: 146.850 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Breakout from Descending Wedge 2. 1st Leg up Potentially Complete 3. Wait for Pullback to Bottom of Support Zone Area. 4. Look for Bull Confirmation near the 143.800 Area to Long. 5. RSI at 52.00 and above Moving Average. Bias to Long, but wait for Gap to Close. 💰 Trading Tip 💰 Traders often get trapped trying to trade the end of a second leg thinking a third leg is coming. Pullbacks often have two legs and when the third leg fails, it's in part because the traders stop loss is hit, causing the price to go the opposite direction of their trade and continuing the macro trend. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
USDJPY SELL RESISTANCE ZONE HERE !!!Hello Traders hop so you are all gr8 and living a happy healthy life its Monday and we can see with opening markets $ is showing some strength which is temporary friend we had posted a bigger TF on Daily which is attached in with chart Friends we can see a retrace is creating a Double Top and showing a trend line moving to north but its going rejection here soon lets see what market brings share ur thoughts on this pair USDJPY it help alote of traders community .............
Short
by APEX_TRADING_ACADMEY
3
UsdJpy- Resumption of the up trend (Long term view)After experiencing a prolonged uptrend in 2023, during which it gained 3000 pips, the mid-November period marked the beginning of a correction for $FX:USDJPY. Over the next six weeks, the pair dropped by 1000 pips, reaching a significant psychological level of 140. The decline observed from December, however, formed a steep falling wedge, suggesting the potential for a reversal. This reversal indeed occurred as the new year commenced, with the pair breaking above the resistance of the pattern on January 2nd. Subsequent to this breakthrough, the market witnessed consecutive green days, and USDJPY successfully surpassed the crucial technical zone of 143.50-144. In the past week, the pair consolidated its recent gains and stabilized around the 145 region. The overall long-term trend remains bullish, and the recent low at 140 could signify the conclusion of the correction. In such a scenario, there is the potential for the pair to resume its upward movement, surpassing the recent high of 151.50, and achieving new highs in the coming months. My bullish sentiment persists as long as the pair remains above 143.
Long
by Mihai_Iacob
USDJPY M15 / LONG TRADE OPPORTUNITY ✅ Hello Traders! This is my idea related to USDJPY M15. I know that it's the end of the day, but I see a good opportunity to execute a long trade. I see the change of the structure, more exactly a bullish move. A very good retracement from the resistance level and it looks very likely to go bullish. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
Long
by GoodTradeST
USDJPY can go UP from 🟢Support zone🟢➡️RR=2.45🏃‍♂️ USDJPY is moving near the 🟢 Support zone(143.40 JPY-142.82 JPY) 🟢. 🌊According to Elliott's wave theory , USDJPY has successfully completed wave A in the 🔴 Resistance zone(146.26 JPY-144.94 JPY) 🔴. 🌊The structure of corrective waves is Zigzag(ABC/5-3-5) . 🔔I expect wave B to end at the 🟢 Support zone(143.40 JPY-142.82 JPY) 🟢, and USDJPY will trend higher again and at least GO UP to the 🔴 Resistance zone(146.26 JPY-144.94 JPY) 🔴again. 👑 Position : USDJPY Position : Long Entry Point : 143.429 JPY (Limit Order) Stop Loss : 142.440 JPY Take Profits : 4145.852 JPY// 144.414 JPY(RR=1.00) Risk-To-Reward : 2.45 Please don't forget to follow capital management ⚠️ Please pay attention to the style of opening the position.⚠️ U.S.Dollar/Japanese Yen Analyze ( USDJPY ), 4-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
13
USDJPY: The Japanese Yen decreased because the market predicted The Japanese yen is the worst among Asian currencies through 2024, extending its decline from the previous year as traders grow more confident that the Bank of Japan will delay policy changes were extremely moderate. Reconstruction and stimulus measures following the devastating earthquake in central Japan are expected to offset any notion of BOJ policy tightening, at least in the near term. Such a scenario points to increased pressure on the yen, especially from the wide gap between domestic and international lending rates. Japan's interest rates have remained extremely low for nearly eight years. Weak data on inflation and weak wage growth also suggested less pressure on the BOJ to change its ultra-dovish course. Broader Asian currencies were trending lower, as doubts about an early Fed rate cut kept traders largely biased against the dollar.
Long
by Chart_MasterPro
Potential double top on USD/JPYThe weekly chart shows a bullish engulfing candle formed last week, which marks 140.25 as an important swing low. Whilst we remain unconvinced the pair will simply break above 152, it does show the potential to extend its countertrend bounce. However, with the pair stalling beneath last week’s high ahead of a key US inflation report, the potential for a pullback seems feasible. The 4-hour chart shows that a bearish divergence is forming with RSI (14) and the US2yr-JP2yr spread. Given last week’s high was just shy of 146 and the monthly S1 pivot, we’re on guard for a double top to send prices lower. Therefore, bears could fade into moves towards 146 with a stop above the monthly S1 pivot at 146.15. For a large bearish reaction over the next 24 hours, we’d likely need to see a softer set of numbers from the US inflation report relative to expectations.
Short
by CityIndex
Bold 370 Pips Buy idea in USD/JPY,are you with me ?Hello fellow traders and the entire Tradingview community. I have come up with a bold new idea on USDJPY which can give us more than 320 Pips profit if it goes according to plan. As you can see from the hourly chart, USD/JPY is currently back to the same level as it was last Thursday. So, based on a simple demand and supply strategy, we can expect UJ to go up from this level provided this zone is not broken. As an aggressive trader, I have already bought UJ@141.35 with a target of 145. I do not use a stop loss , but you can probably use an SL below the demand zone. Make sure you do not get stop-hunted.
Long
by YourLazyTrader
9