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Usdjpyforecast

USDJPY Reversal Pattern - Turning BEARISH? 3 Options For Entry! Hi All, As you can see, I am bearish on USDJPY. I am expecting price to rise next week and hit the key levels on the image above, which we can start looking for momentum to the downside and confirmation that it will turn bearish for the medium term. Keep an eye on the key levels and see how price will respect and react to them! It should give you a really nice opportunity to enter your Sells! I hope this post can help you. I will be posting a simplified version with the "very likely" option, just so it can be clearer for you. Let me know your thoughts - whether you like any of the 3 ideas to take your own trades or if you are bullish in this pair! Have a great and profitable week all! Cheers, Gaspar_Trader
Short
by Gaspar_Trader
USD/JPY 4HR BUY SET UPHi TRADERS this is my trade set up for the USD/JPY for the new week ahead USD/JPY I believe will carry on its continuation in a buy market first it will need to ride down a little hopefully into the order block zones lined off on chart so i will be looking for a drop to the order block zones and to take a buy trade This is my analysis only please trade with caution and risk management in place good luck for this weeks trading please like and comment both are welcome
Long
by Costy13
USDJPY short now or later? An overdue dip is looming for the dollar yen. Is this the point where we see some kind of correction downwards or do we have to endure another dump to the downside before this can happen? I think if the price structure breaks down from here, we should see some support at around 113. I don't think this structure is complete for a complete reversal. There's still a bullish overtone for US dollar. The 120 level is totally possible before the bull run ends for the us dollar.
Long
by IkanBilisCapital
Forex Today: USD/JPY Close to 5-Year High PriceMost markets are sideways as the new year opens quietly. Asian stock markets are mostly lower. In the Forex market, we see a strong US dollar, and continued weakness in the Japanese yen. This puts a bullish USD/JPY at the center of today’s Forex market. The currency pair is close to testing its 5-year high made a few weeks ago. A failure to rise beyond 115.40 may give a short trade opportunity. The UK, USA, Canada, and Italy have public holidays today, but US stock markets will be open. Over 1.8 million new coronavirus cases were confirmed yesterday globally, as infections soar dramatically to new records. Preliminary data suggests that the omicron coronavirus variant, while considerably more infectious, has notably milder effects than previous coronavirus strains, with an estimated 70% reduction in the probability of hospitalization. This is potentially very good news for both health and economy, so stock markets have been broadly bullish. It is estimated that 58.3% of the world’s population has received at least one dose of a coronavirus vaccination. Total confirmed new coronavirus cases worldwide stand at over 290.6 million with an average case fatality rate of 1.88%. The rate of new coronavirus infections appears to now be increasing most quickly in Albania, Algeria, Argentina, Australia, Bahamas, Barbados, Belize, Canada, Colombia, Croatia, Cyprus, Denmark, Estonia, Ethiopia, Finland, France, Greece, Iceland, Israel, Italy, Jamaica, Kuwait, Lebanon, Luxembourg, Mali, Malta, Montenegro, Portugal, Qatar, Spain, Sweden, Switzerland, Turkey, the UAE, the UK, Uruguay, and the USA
Short
by SmoothJB
USDJPY | Strong Bearish Trend. When it comes to USDJPY , a while ago, we've seen a strong impulse to the upside. And got rejected from a resistance. Right now price is staying near a supply zone as well. We also seen a multiple rejection from that area as well, which clearly shows the selling strength. Looks like there aren't many support areas till S1. So you could start booking profit from S1, which was the previous resistance area. If you find this technical analysis useful, please like & share our ideas with the community. What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. Good Luck! Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Short
by maxprofwizard
USDJPY-LONG IF CLOSE ABOVE 115.25The USD/JPY currency pair made its highest weekly close in 5 years for the second week running, printing a healthy sized bullish candlestick which closed near the top of its range. These are clearly bullish signs that we are likely to see a further rise over the coming days and weeks. However, it should be noted that there were recently several higher daily closes all the way up to the very key resistance level at 115.25. Although the rise in USD/JPY is supported by the improved risk sentiment we are seeing in markets since data began to show omicron as relatively mild, this currency pair is still prone to a sudden selloff below 115.25, so I do not want to go long here until we see a daily (New York) close above 115.25.
Long
by SmoothJB
2
USD/JYP (US DOLLOR VS JAPANESE YEN) MAKING TRIANGLEUSD/JPY (WEEKLY) making a contracting triangle on a Primary degree B of Cycle degree 4th. We are currently on an E wave of an Intermediate degree of a triangle. we are most likely to come down for A of E of a triangle. We can see 3 waves down as an A-B-C pattern on the E wave of the triangle. Most probably we are just finished D of the triangle and we are likely to push down for E as my preferred count (projected by the black line) and if we have not finished D of the triangle so we can go to break recent high as an alternative count (projected by the red line) and after that, we will come down for triangle continuation. DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count have been done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans. Try to learn Elliott Wave or other strategies and make your own strategy. Following is not that much easy. I am not responsible for any losses if u took the trade according to my trade plans.
Long
by anantadhungana
USD/JPY Technical Analysis: Continued Weakness of the YenAs I mentioned before, stability around and above the 114.20 resistance will continue to support the bullish reversal. The technical indicators have some room before they reach overbought levels according to the performance on the daily chart. The closest targets for the bulls are currently 114.60, 115.20 and 116.00. On the other hand, a rebound to the 113.30 support level brings the bears back in control again. I still prefer selling the currency pair from every bullish level. The US dollar pairs will be affected by the announcement of the durable goods orders numbers, the personal consumption expenditures price index, the number of weekly jobless claims, new US home sales, and the average income and spending of the American citizen Due to the risk appetite currently in the markets, the Japanese yen lost many of its gains against the rest of the other major currencies. Yesterday, the price of the USD/JPY currency pair tested the resistance level of 114.36 and settled around the level of 114.20 at the time of writing. The pair is waiting for any new movements in narrow ranges in light of the approaching holidays, which means less liquidity. The Japanese yen was hit hard by the Japanese parliament's approval this week of a record additional budget of about 36 trillion yen ($317 billion) for the fiscal year through March to help families and businesses affected by the pandemic. The budget is largely earmarked for funding COVID-19 measures, including booster vaccines and oral medications. It also includes cash payments to families with children and a promotional campaign for the hard-hit tourism industry. For his part, Japanese Prime Minister Fumio Kishida said that the supplementary budget aims to revive an economy that has not yet fully recovered from the epidemic and achieve stronger growth and a more equitable distribution of wealth under his "new capitalism" policy. Under Kishida, the government has tightened border controls to help avoid cases of the fast-spreading Omicron virus, after it managed to reduce infection levels sharply in the past few months. The budget includes 100,000 yen ($880) in payments to families with children 18 or younger and 2.5 million yen ($22,000) in support for businesses that have suffered major sales losses due to the pandemic. It will also pay to increase the salaries of nurses and other caregivers. It has allocated 617 billion yen ($5.4 billion) to promote semiconductor manufacturing within Japan as the country moves to improve its economic security and address shortages of computer chips essential for a wide range of products. The budget will also finance tourism promotion, sustainability and digitization. Deputy Prime Minister Seiji Kihara told reporters on Monday that the government plans to urgently submit the planned measures to the people to support "rebuilding the economy affected by the pandemic and resuming social and economic activity" after the widespread imposition of public health precautions to combat the coronavirus outbreak. .
Long
by SmoothJB
USD/JPY Technical Analysis: Stable Ahead of US DataThe USD/JPY pair's stable performance is expected to remain until investors and markets identify and interact with the important events of this week, starting with the FOMC. The USD/JPY is stable in a range between the level of 113.27 and the level of 113.72 at the beginning of this week's trading, in the same performance as the last trading sessions. Commenting on the performance and outlook, Goldman Sachs currency strategist Zach Bundle said, “The recovery in risk assets and more stability in front interest rates in the US allowed the dollar to fall from its highs in late November. The Fed is likely to determine the direction of the currency in the near term,” the analyst added, “If the “dot graph” at this week’s FOMC meeting shows the average of two highs for 2022, we may see an extension of the recent weakness, while it is likely that A baseline of 3 or more hikes in 2022 causes a resurgence in the US dollar (markets are currently pricing in a 2.6 Fed rate hike next year)." The US central bank is widely expected to speed up the easing of its quantitative easing program this week so that it ends sooner than the June 2022 date envisaged and announced in November. That should create scope for a rate hike sooner than previously thought likely by the market and its updated dot chart on Wednesday for policy makers' expectations which will provide ample evidence of how soon that could happen. This is the main point of interest for the market after 10 voting members of the Federal Open Market Committee - a decisive majority - indicated in recent weeks that they might support a decision to end the $120 billion per month quantitative easing program sooner this week. On the other hand, it affects morale. Chinese leaders on Friday pledged tax cuts and support for entrepreneurs to shore up sluggish economic growth after a campaign to rein in soaring corporate debt that triggered bankruptcies and defaults among property developers. A statement issued after the annual planning meeting led by Chinese President Xi Jinping called for "maintaining stability," reflecting concern about rising risks after economic growth slumped to an unexpectedly low 4.9% over the previous year in the quarter ending in September. "Our country's economic development is facing triple pressures represented by contraction in demand, supply shocks and weak expectations," the statement added. The ruling Communist Party is trying to keep the world's second-largest economy on track while forcing real estate developers and other companies to cut debt, which it fears is dangerously high and threatens financial stability and long-term growth. China was the first major economy to recover from the coronavirus pandemic, but that recovery quickly stalled. The economy grew 7.9% year-over-year in the second quarter of 2021 but slackened after tighter restrictions imposed last year on borrowing by real estate developers caused a slump in construction and sales. The planning meeting, the Central Economic Work Conference, outlines the party's economic agenda for the coming year. Officials usually begin to announce the details at the ceremonial legislature's annual meeting in March. The leadership promised tax cuts and "enhanced support" for private enterprises that generate new wealth and jobs in China, but did not elaborate. She said Beijing would invest in infrastructure but gave no indication of large-scale spending to stimulate the economy. Investors are waiting to see what happens to Evergrande Group, a developer that financial analysts say is increasingly likely to default on its $310 billion in debt. Smaller developers have defaulted on millions of dollars in debt or went bankrupt. The government has tried to reassure the public and investors that the economy can be protected from the financial fallout of Evergrande. China's central bank governor, Yi Gang, said Thursday that financial markets can handle Evergrande, noting that Beijing has ruled out a bailout. Friday's statement also promised more antitrust and other enforcement which it said would boost market players' confidence. Technical Analysis How the USD/JPY closes for the year will depend on what will be issued by the US Federal Reserve this week. So far, the currency pair is in a neutral position with a bearish bias, and stability below the 113.00 support will increase the bears' control to move further downwards. According to the performance on the daily chart, the next bearish targets will be 112.50, 111.75 and 110.60. On the upside, and according to the performance over the same time period, the 114.20 resistance will be vital for the bulls to launch further and change the current situation. In addition to the expectations of raising interest rates, it is necessary to take into account risk appetite
by SmoothJB
USD/JPY Technical Analysis: Bearish Momentum RemainsThe outlook for the US dollar was boosted last Friday when official figures confirmed US inflation had risen to a new multi-decade high last month, which is likely to keep the Federal Reserve (Fed) on course to accelerate its monetary policy normalization. The price of the USD/JPY currency pair moved towards the level of 113.80 after the data and settled around the level of 113.46 as of this writing. The US dollar's exchange rates fluctuated briefly before the weekend as figures from the Bureau of Labor Statistics revealed that a 0.8% US inflation increase in November lifted the annual pace of price growth in the US to 6.8% last month. Meanwhile, inflation rose from 4.6% to 4.9% for November, the highest level since the year ending June 1991, even after excluding changes in volatile food and energy prices from the figures after a 0.5% increase in November in core inflation. Gasoline, housing, food, used cars and trucks and new vehicles were among the biggest contributors to the price increases in November, all goods whose supplies were recently disrupted by efforts to contain the Corona virus, which has led to prices rising sharply over the past year. Catherine Judge, CIBC Capital Markets economist, says: “With inflation at a high pace, the Fed is expected to accelerate its quantitative easing schedule at the December meeting, to end in early spring, and to allow for a rate hike in the second quarter of 2022, when the winter wave of Covid is late for us.” Inflation has risen sharply around the world this year due to shortages of goods and labor as well as other factors, although price increases have been stronger in the United States where publicly funded financial support for households was much greater than elsewhere at the height of the pandemic. November was the second consecutive month that the headline CPI rose more than six percent, well above the Fed's average inflation target of 2 percent and likely to keep the bank on track to accelerate the normalization of its monetary policy settings. The strength and persistence of recent increases in inflation have led Fed policy makers to rethink earlier expectations that price pressures would quickly dissipate on their own, and they almost cut the bargain for a decision this week to speed up the process of winding down the bank's bond-buying program. Ten of the twelve FOMC voting members have publicly indicated over the past month that they might support a decision to scale back the Fed's monthly bond purchases at a faster pace than agreed in November. Many economists now expect the Fed to end its bond purchases in March instead of June 2022, which would provide room for the bank to start raising its key rate as soon as possible in the second quarter of next year if inflation pressures remain high enough in the interim. Technical Analysis How the USD/JPY will close out this year will depend on what will be issued by the US Federal Reserve this week. So far, the currency pair is in a neutral position with a bearish bias, and stability below the 113.00 support will increase the bears' control to move further downwards. According to the performance on the daily chart, the next bearish targets will be 112.50, 111.75 and 110.60. On the upside, and according to the performance over the same time period, the 114.20 resistance will be important for the bulls to launch further and change the current situation. In addition to the raising of interest rates, it is necessary to take into account the extent of risk appetite.
Short
by SmoothJB