Get started

Usdjpynews

USDJPY Daily Analysis: Slight Bearish Bias Expected Amid !!USDJPY Daily Analysis: Slight Bearish Bias Expected Amid Fundamental Shifts 08/11/2024 Introduction In today's analysis of USDJPY, the pair appears to carry a slight bearish bias, driven by significant macroeconomic factors. These include recent economic data from Japan, U.S. dollar movements, and evolving global risk sentiment. In this article, we’ll explore the critical factors affecting USDJPY today, helping you stay ahead in your trading decisions. --- Key Drivers Influencing USDJPY Today 1. Bank of Japan (BoJ) Policy Stance The Bank of Japan has maintained its ultra-loose monetary policy, but recent statements hint at a gradual shift if inflation stabilizes around target levels. Markets are speculating on potential policy adjustments, increasing support for the Japanese yen (JPY). Any tightening signals from the BoJ would strengthen the JPY, adding bearish pressure to USDJPY. 2. U.S. Federal Reserve’s Caution on Rate Hikes The Federal Reserve’s recent statements show a cautious stance on further interest rate hikes due to mixed economic data and inflation uncertainties. This dovish outlook has weakened the U.S. dollar (USD) across major currency pairs. A softer USD supports a bearish bias for USDJPY, especially as U.S. bond yields decline, making the JPY more appealing. 3. Global Risk Sentiment Impacting Safe-Haven Flows The JPY is considered a safe-haven currency and often gains during periods of market uncertainty. With mixed global economic indicators and recent geopolitical tensions, investors may lean towards the JPY, contributing to USDJPY’s bearish potential. 4. Technical Factors Supporting a Bearish Bias USDJPY recently tested key resistance levels and failed to break higher, adding to the bearish sentiment. The pair is also trading close to its 50-day moving average, a significant level that, if broken, could signal further downward movement. --- Technical Analysis Indicators Supporting a Bearish Outlook Moving Averages and RSI USDJPY is hovering near its 50-day moving average, a critical support level. A sustained break below this line may confirm a bearish trend. Additionally, the RSI (Relative Strength Index) is showing early signs of downward momentum, signaling potential selling pressure ahead. MACD and Volume Analysis The MACD (Moving Average Convergence Divergence) indicator is showing bearish divergence, reinforcing the expectation of a bearish trend for USDJPY. Volume analysis also shows a decline in buying pressure, aligning with the anticipated downward movement. --- Conclusion The combination of a cautious Fed, potential policy changes from the BoJ, and current risk sentiment suggests a slight bearish bias for USDJPY today. Traders should keep an eye on key technical levels and monitor any news impacting the USD and JPY for further confirmation. --- SEO Tags: - #USDJPYforecast - #USDJPYanalysis - #USDJPYtechnicalanalysis - #ForexTradingUSDJPY - #JapaneseYenOutlook - #USDJPYtoday - #USDJPYnews - #ForexMarketAnalysis - #USDJPYprediction
Short
by PERFECT_MFG
USDJPY - Daily UpdateRecent price action: Bearish Pattern: Break of trend support Long-term momentum: *Bearish Short-term momentum: Bearish Bias: Long Action: Do not trade until price identifies further momentum. Could see further movement to the downside, or price may reverse at its current level. Everything depends on where the daily candle closes. Comments: News of a trade war killed this pair. Next 7-10 days should be interesting. A complete shift in momentum would be warranted once price breaks below daily support. Could also be forming a head and shoulders pattern.
by tradingwithyg
USDJPY Reversal at .382 Fib LevelTechnical Analysis Last week we kissed the 0.382 fib level and had a strong wick indicating a loss in the bulls momentum. This could be a strong indicator of the start of a reversal for USDJPY. This week all eyes on USD with Trumps Speech Today with his Hawkish attitude toward the Iran situation causing great volatility in the Oil Markets. Consumer Price Index on Thursday 11th May & James Bullard's speech on Friday 11th May. Key Week for USD Pairs.
Short
by MoneyBodySoul
USD/JPY drops to 111.30USD/JPY drops to 111.30 Due to fears of a large reduction in foreign Dollar asset purchases, the American currency fell by 0.86% against the Yen just in couple of hours. The plunge was stopped only after the exchange rate reached support area located around the weekly S2 and the monthly S1. Accordingly, today bulls are expected to try to restore lost positions. Most probably the surge will last until the pair reaches strong support-turned-resistance at the 112.10 level, which is additionally backed up by the 55-hour SMA. In case of better than expected US PPI data release, the soar might extend to the 112.60 mark, which represents location of the monthly PP together with the 100- and 200-hour SMAs. From the opposite side, the new decline is likely to be halted by the 38.2% Fibonacci retracement level at 111.17 the three-month low at 110.84.
by UnknownUnicorn890690
USD/JPY rises to 112.70USD/JPY rises to 112.70 An absence of any significant news in first half of the previous trading session expectedly led to a rebound from support zone located near the 112.10 mark. But then reports about agreement reached on tax reform by the House and Senate caused a spike up to the 112.70 mark. As further path to the north is obstructed by the falling 100- and 200-hour SMAs together with the weekly PP, the Dollar is unlikely to gain much value against the Yen. On the other hand, the 55-hour SMA in conjunction with the 50% Fibonacci retracement level should allow an active plunge as well. As a result, before the advent of some substantial news, the pair is expected to move horizontally between the above support and resistance barriers.
by UnknownUnicorn890690
USD/JPY fails to bypass 113.68USD/JPY fails to bypass 113.68 Most of the previous trading session the currency rate spent moving towards the 23.6% Fibonacci retracement level located at 114.03. Nevertheless, this target was not achieved due to resistance area formed near the 113.70 mark. As for today, a minor retreat back to 113.20 is possible. However, the Yen unlikely to gain much value due to pressure from the rising 55-, 100- and 200-hour SMAs. On the other hand, it looks like the pair is moving in a new rising wedge formation, which presupposes a breakout towards the 50% retracement level. In case of such mixed signals there is a need to turn to the overall fundamental picture, which is in favor of the buck, as markets anticipate the interest rate hike.
by UnknownUnicorn890690
USD/JPY falls from rising wedge by 1.22% USD/JPY falls from rising wedge by 1.22% An announcement made by General Flynn that led to rapid sell-off of the buck against all major currencies perfectly matched with a breaking point of a readjusted rising wedge formation. Fortunately, bulls managed to create support near the 111.80 mark that was surrounded by the 100- and 200-hour SMAs as well as the bottom boundary of an ascending channel. As this event occurred shortly before markets got closed, new trading session the pair started straight from the pre-fall 112.80 level. Accordingly, the pair has once again returned back into boundaries of the above rising wedge pattern. Since further path to the top is obstructed by the 50% Fibonacci retracement level at 113.00 and the weekly R1 at 113.11, the pair might actually make another turnaround. If a rebound happens, it might confirm validity of a new junior channel down.
by UnknownUnicorn890690
USD/JPY prepares to test support at 111.20USD/JPY prepares to test support at 111.20 In line with expectations, by the end of the previous trading session the currency rate has reached the upper boundary of a currently active descending channel. As this barrier was additionally backed up by the 38.2% Fibonacci retracement level as well as the falling 100-hour SMA, the pair was forced to rebound. During first half of the day the pair is likely to get back to the 11.60 mark amid the push made by the 55-hour SMA. But subsequently the pair is expected to test support area between the 111.20-111.10 levels. Unless the Yen receives a proper impulse this barrier might ruin the pattern. However, such scenario unlikely to lead to rapid recovery of the buck, as on daily chart road to north is blocked by a combination of the 100- and 200-day SMAs.
by UnknownUnicorn890690