USDJPY HITS TP 509 PIPSUSDJPY has come to hit my TP, though I'm still expecting some upward movement. I shared an analysis on 22/02/23 concerning DXY gaining strength, which will affect dollar base pairs. I reviewed two pairs which I opened: USDJPY and EURUSD . my EURUSD trade is still open, though I have realized first TP and also added a little position which currently on profit. I will drop how I got into the trade when TP is achieved.
Usdjpylong
USD/JPY: Bullish trend to continue
Keep an eye on US Treasury yields, as the two-year US bond yield rose to 5.085%, the highest in Asia, and currently stands at 5.062%; the Nikkei index closed up 0.5% at 28444.19 points.
The USD/JPY rose to 137.90 and then retreated, but still remains bullish;
The USD/JPY rose from the morning low of 137.10 in Asia to the highest of 137.90, and then softened slightly, but still leans towards an upward trend;
Stop loss is set above the strike price of 138.00 for large options, some of which will expire tomorrow. The USD/JPY is expected to test 138.00 and the high point of December 15th;
Given yesterday's big rise, some pullback is not surprising. However, Japanese importers and other participants are waiting for the pullback to buy back in. It is also recommended to wait for a correction after the pullback to continue buying, with a buying point of 136.40.
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USDJPY - Still bearish ✅Hello traders!
‼️ This is my perspective on USDJPY.
Here I still expect bearish price action as price formed huge H4 divergence which indicates bearish move, as well price could reject from bearish order block + institutional big figure 137.000.
‼️Attention!!! Due to the fact that we have news events on USD on Wednesday, Friday and JPY on Friday, the analysis can be invalidated.
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USDJPY | Perspective for the new week | follow-up detailsDespite negative GDP data last week (negative variance of 1.71), the dollar closed its fourth consecutive week in positive territory, trading 1.80% higher to culminate at the 136.500 zone. The economic data released so far this year has painted a stronger picture of the U.S. economy. It is also worth noting that the incoming BoJ governor Kazuo Ueda indicated that the central bank will largely maintain its ultra-accommodative policy in the near term hereby indicating a weak economy and considering the significant breakout of the 135.000 zone (the first time this year); the Greenback may continue to remain in demand. This video illustrates a detailed technical perspective of what to look for in the coming week as trading opportunities is strongly leaning towards bullish expectation from a long-term perspective.
00:50 Reference to last week's daily commentaries and results
03:49 USDJPY analysis on Daily Timeframe
06:05 Macroeconomic event for the week
08:30 USDJPY analysis on the 4H Timeframe
10:30 Conclusion on next week's projections
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Bullish outlook on USDJPY - 3 March 2023On the H1 timeframe, prices are testing a support zone at 136.20, which is in line with the 38.2% Fibonacci retracement. A throwback to this zone presents an opportunity to ride the bounce to the resistance zone at 137.20. Stochastic RSI is in the oversold region below 20, and price is hovering near the bottom of the Bollinger Bands, supporting our bullish bias.
Cheeky long for USD/JPYUSD/JPY is grinding higher on the daily chart, although it seems wary of the 200-day MA overhead. But at the same time, it looks as though it at least wants to test it (and is sat near the daily R1 pivot).
Prices have pulled back on the 1-hour chart in a corrective fashion, and the corrective lows found support at the 50-hour EMA and a previous swing high. Prices are also trying to hold above the daily pivot points.
- The bias is for an upside break due to the underlying trend, and that is something a strong ISM services report later today could help with.
- The initial target is 137, ahead of the daily R1 / 200-day MA,
- The bias remains bullish above 137.40
USDJPY H4 ZONE MARKINGWe have USDJPY H4 Analysis for Zone Marking.
According to this analysis, we can see the price still running Above 200MA & price Running ascending channel using pattern of Higher High & Higher Lows
This sign of buying pressure for more confirmation we have marked demand & supply zone which is mentionedin the downside.
Demand zone1@ 132.276 to 131.460(Strong)
Demand zone2 @ 131.000 to 129.648 (strong)
Demand zone3 @ 128.525 to 127.759(strong)
supply zone1@ 136.890 to 137.532 (Strong)
Supply zone2@ 137.751 to 138.246 (strong)
With this analysis, you will be able to find your most profitable trade. EnclaveFX does not recommend that you buy or sell this assist. We do not take any responsibility for your profits & losses. EnclaveFX believes in enhancing the knowledge of our clients & followers
usdjpy elliott wave update 01/03/2023usdjpy elliott wave analysis by omar ayad
Then achieve the goal of wave C
Now we are waiting for breaking 135.700 to enter into selling, the target is wave 1 of the impulse, but if 136.940 is breached, selling will be activated and the target is wave 1 of the impulse
USDJPY - Short active ✅Hello traders!
‼️ This is my perspective on USDJPY .
Here I expect bearish price action from here as price filled that huge imbalance and rejected from bearish order block + institutional big figure 137.000. As well we can see price formed a normal divergence which indicates bearish price action.
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Looking for a bullish breakout from USD/JPY's consolidationA bullish engulfing candle formed on Friday thanks to a hot US inflation report. The fact that incoming BOJ governor Ueda delivered a dovish message at his confirmation hearing simply adds to our bullish conviction on USD/JPY.
Prices are now consolidating on the 1-hour timeframe, so we'd welcome any pullback towards the weekly pivot point to consider long setups, with the next bullish target sitting around the weekly R1 pivot (137.30). The OBV remains elevated to suggest the rally has been supported by bullish volume, so we're also on guard for a bullish breakout from the current consolidation.
#USDJPY- 500 PIPS BULLISH MOVE EXPECTED-Hello Traders, so we had to send an updated setup to everyone who has been waiting for USDJPY to go all the way up and that is why after BOJ announced their decision to not change the monetary policy. We waited whole day yesterday for UJ to settle down and have a clear view!.
-Sellers are being exhausted and failed to take this pair lower low even when JPY BEING too bullish suggesting we are at the verge of having a strong bullish impulse.
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Currently USD/JPY trades in 5th wave and can continue to riseHello traders, I want share with you my opinion about Japonese Yen. Looking at the graph, we see how the price left the range and begin to grow, thus forming Elliott waves.On the four-hour timeframe, we can see the Japanese Yen currently trading in the 5th wave moving towards the seller zone. By switching to an hour-long timeframe, which is on the chart on the right, we can see how the price inside of the 5th wave of the senior timeframe forms upward heel wave impulse. Currently, the price has finished 4th correction waves, testing the support area from which it bounced back and started to rise. I think the price started moving in 5th impulse wave and may continue to grow.So for the Japanese yen, I see at level 137.35. Please share this idea with your friends and click Boost 🚀
USDJPY- GOOD POSITION FOR BUYERS!!Dear Traders, Hope you all doing great, recently we have seen some bullish momentum and that is why our bias and area of entry has changed drastically. For this pair an ideal enrty would be to wait for it to come to our area of entry where we can go long for swing.
What do you think? Comment down!!