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Usdjpybuy

JPY weakens on BoJ rumor and strong US jobs The Japanese yen has fallen past 132.50 per dollar (from 129.00 last Friday), reaching its lowest point in four weeks following reports that the government is considering Bank of Japan Deputy Governor Masayoshi Amamiya as the next central bank leader. Amamiya is seen as the most dovish of the potential candidates, putting an end to hopes of the BoJ normalizing its monetary policy after years of ultra-easy measures. However, the Japanese government has since denied the rumors that they had approached Amamiya and maintains that the new BoJ Governor will be announced sometime in February. Recently, the Japanese central bank maintained its ultra-low interest rates and yield control policy, despite speculation of a policy change. Current BoJ Governor Haruhiko Kuroda stressed the need for a sustainable 2% inflation target, accompanied by rising wages. The yen was also affected by a strong dollar due to positive US jobs data, indicating that the Federal Reserve has room to raise interest rates. In January 2023, the US economy created a surprising 517K jobs, the largest increase since July and well above the 2022 monthly average of 401K, easily surpassing the market prediction of 185K. The job growth was broad-based, with the biggest increases in leisure and hospitality (128K), professional and business services (82K), and health care (58K). Last week, USD/JPY had a noteworthy 4-hourly candle close from a technical viewpoint, breaking through the descending trendline and the psychological 130.00 level. The new 4-hourky open was in the form of a Hanging Man candlestick, with no upper wick, indicating bearish stagnation or a reversal. If we do see some retracement the 200-day moving average could act as support just below 131.00. On the weekly view of the chart, upside resistance suggests 132.90, 133.90 and 134.40 could be points of contention for the pair.
by BlackBull_Markets
#USDJPY- VERGE OF BULLS TAKING OVER!!Hey Traders, USDJPY has have faked movement in last two months since we had BOJ news on interest rate, the pair had reversed from over previous setup on #USDJPY. However, most things has changed since then firstly we have undecided DXY movement we have not had a clear dictative move. Hence, as we have NFP next week we are eying for DXY to drop until Friday as traders are eying on the data to be supporting for DXY. -Potential entry would be the area described in the chart, will keep you updated. Trade Safe and Good Luck!!!
Long
by Setupsfx_
22
USDJPY - CURRENT SENTIMENT , FUNDAMENTAL BIAS#USDJPY - As of last day, the MARKET SENTIMENT for USD was slightly UP SIDE. The main reason for that is that the JPY is starting to weaken quite a bit. It happened because of the BOJ MEETING. This time after the FOMC, the dollar has also weakened. - Due to MARKET RISK ON, all MARKETS including STOCKS and COMMODITIES are going up a bit now. - There is definitely a high possibility that USDJPY will go UP a bit more and move to 133.67 LEVEL. Anyway, USDJPY price can go down to 125.02 LEVEL after that. We focus on MARKET UPDATES and MARKET SENTIMENT. Follow the given MARKET STRUCTURE.
by benny_marshall
3
USDJPY Trading Plan - 16/Jan/2023Hello Traders, Hope you all are doing good!! I expect USDJPY to go Up after finishing this correction. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Long
by For3xScalper
2
USDJPY BuyExpecting UJ to slowly break into a buy after staying within resistance and support prices 132.600 and 131.600 since early Monday. MA convergence here + indicators show signs of a nice upward movement. I am also expecting the 10-year bond auction today to favor USD as well, which should drive prices for the short-term. Buy Entry: 133.000 Targets: 133.375 | 133.700 | 134.100 | 134.430 Resistance: 134.750 Be sure to like this post and let me know what you think in the comments below.
Long
by DollarYenQueen
3