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USDJPY: Main trend!In Asia, S&P500 futures have surged, indicating an increase in the market participants' risk appetite. Market sentiment is optimistic as the Federal Reserve's interest rate decision is likely to result in a neutral policy stance. The US Dollar Index (DXY) has shown a slight correction around 103.60 after a decent rally. The USD Index is expected to perform sideways as the release of the US CPI will offer further guidance. US Treasury yields are choppy ahead of the inflation data, with 10-year US Treasury bond yields climbing above 3.76%. Preliminary reports indicate that headline inflation is softening to 4.2R% compared to the previous release of 4.9% on an annualized basis. Lower oil prices have slowed down the overall inflation rate. However, core CPI, which excludes the impact of oil and food prices, is expected to marginally increase to 5.6% from the previous release of 5.5%. The scrutiny of the preliminary US inflation report shows that households' demand for durables and services is consistently rising, putting pressure on Fed policymakers for hawkish guidance. Meanwhile, the Bank of Japan's (BoJ) interest rate decision will keep the Japanese Yen in the spotlight. BoJ Governor Kazuo U
Short
by Sphyn-Trader
Will USD/JPY go bullish again? Read analysis with key levelsDear traders, USD/JPY is getting some support from the EMA in the 4Hour chart. Price has rebounded after hitting the EMA. You can also see the formation of a triangle pattern in the chart. If USD/JPY manages to break through the upper trend line of the triangle, then we can see the next leg of bullish move. However, 140.80 is a key level that can offer strong resistance . Either way, you must follow the price action closely before executing your trade.
by YourLazyTrader
4
BluetonaFX - USDJPY PROGRESS REPORTHi Traders! We are now at a crucial point with USDJPY. Is there enough momentum for another push to break the 142 level or are we going back below the 138 level? We have highlighted our calculated Vector 142.255 level on the chart. After breaking and closing above our previous double top Vector level of 137.915, we had a push towards 142.255 but had major resistance there as we had not been this high for over six months. We now have a pullback to the bullish momentum at 140.922. 137.915 is the key level here. If we stay above this level, we are likely to see another push to test 142.255. However, if we break and close below 137.915, then the long term trend will most likely change to bearish. We will keep a close eye on this and hope to make progress in the next few days. Please do not forget to like, comment and follow as this helps us greatly. Thank you for your support. BluetonaFX
by BluetonaFX
2
Japan Weakens - Invest in USDJPY Now!As you may have heard, Japan's economy has been experiencing some weakening lately. The country's GDP has declined for the past two quarters, and its government is struggling to stimulate growth. In addition, the Bank of Japan has been keeping its interest rates at harmful levels, putting pressure on the yen. But what does this mean for us as traders? Simply put, it means that now is the perfect time to invest in USDJPY. Moreover, with Japan's economy weakening, the yen is also expected to weaken, making the USDJPY pair an excellent option for traders looking to make some profits. So, what are you waiting for? Take advantage of this opportunity and invest in USDJPY now! You could make some serious gains with the right strategy and some luck. As always, I recommend researching and analyzing before making any investment decisions. However, if you're looking for a good investment opportunity, USDJPY is worth considering. I hope you found it informative and helpful.
Long
by bryandowningqln
USDJPY: fed hawks and new developments!USD/JPY eyes 141.00 as upbeat US households’ spending supports hawkish Fed stance Fundamental technical analysis: The market price line is being consistently followed by the 34 EMA, resulting in a stable uptrend over a period of time. The RSI has returned to a safe and stable level of 60.5. To minimize the FVG zones, there is a forecast of a slight sideways trend before the news is released. Financial market analysis: The US Dollar (USD) slightly bounced back after a brief dip in profit-taking during the day. This was due to the US Bureau of Economic Analysis (BEA) reporting an increase in the headline PCE Price Index by 0.4% in April, compared to the previous month's 0.1%. Moreover, the yearly rate accelerated to 4.4%, exceeding expectations for a fall to 3.9% from March's 4.2%. Further details showed that the Core PCE Price Index, which is the Fed's preferred inflation gauge, increased to 4.7% from 4.6%, beating consensus forecasts. These results reinforced the market's belief that the Federal Reserve (Fed) will keep interest rates at higher levels, which supports the Greenback. This, in turn, acts as a tailwind for the USD/JPY pair. Currently, the markets are predicting over a 50% chance of another 25 bps lift-off at the June FOMC meeting. This is supported by a rise in the US Treasury bond yields, which widens the US-Japan rate differential and encourages the flow of funds away from the Japanese Yen (JPY).
Long
by Sphyn-Trader
6
USDJPY the week ahead : Three white Soldiers seen at USDJPYThis is a follow-up post of our previous analysis with USDJPY. As we expected the currency pair given breakout at the level of 139/140. It has formed a Doji candle on one day chart, gave confusion to retail traders as that Doji was formed after continuous bull candles and appeared nearby the resistance area. It was able to manage to give a breakout and stay strong above 140 levels. After the breakout, it has formed three white soldiers which is indicating a strong buy towards the said target of 145 / 150. Expecting the first target by the NFP data release date ( First Friday of June month ) Weekly movement Predictor : Monday = Neutral/ Slight Bearish ( US holiday: Memorial Day ) Tue, Wed = Bullish Thursday = Bearish Friday = Ultra Bullish. You can use stop loss or USE trailing Stop loss 136 region where 20EMA is seen.
Long
by edwin1805