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Usdjpysell

USD/JPY Bullish long RangeUS Dollar Dips but Finds Buyers The US dollar has fallen rather hard during the course of the trading week, but found enough support underneath to turn things around. The ¥138 level is an area that a lot of people had been paying attention to as it was the top of the ascending triangle that I have marked on the chart, and of course the “market memory” that comes with the top of the ascending triangle is coming into the picture. If we turn around and break above the top of the candlestick, then it opens up the possibility of a move toward the ¥142 level. If we break above the ¥142 level, then it opens up the possibility of a move to the ¥148 level which is the measured move from the ascending triangle. You can see that we broke out exactly where you would anticipate seeing that based upon standard technical analysis, so I do think this is a market that you are a buyer of dips on given enough time, and will have to look at it through that prism. I have no interest in shorting this market, and I do believe that as soon the market breaks above the top of this candlestick, we will probably continue to see a lot of upward momentum and a move to the upside. If we were to break down below the ¥138 level, then it could see a fairly steep correction, but right now I don’t see that in the cards, and I believe we probably still have the possibility of a stretch higher. The US dollar continues to benefit from the Federal Reserve being tight while the Bank of Japan continues its yield curve control. BoJ Governor in no hurry to alter BoJ monetary policy path Key levels to watch for USD/JPY for the current bearish continuation scenario BOJ GOVERNOR UEDA IN NO HURRY TO ALTER COURSE BoJ Governor Kazuo Ueda stressed that the Bank is in no rush to alter the path of monetary policy despite interest rates holding above the 2% target since early 2022. The pick up in inflation has been attributed to supply side effects created by the demand and supply mismatch brought about as a result of the Covid-19 lockdowns and Russia Ukraine war. However, this morning at a platform for Japan’s government draft economic policy, it was declared that the government will eradicate a deflationary mindset and move towards ending deflation with bold monetary policy, flexible fiscal policy and with its growth strategy. Additionally, the draft policy issued hope that the BoJ achieves a sustainable 2% inflation target, accompanied by welcomed wage growth. The news helped the pair continue to ease lower in early European trading. USD/JPY TECHNICAL ANALYSIS AND KEY LEVELS OF INTEREST USD/JPY turned lower at the beginning of the week when news of a provisional agreement to raise the debt ceiling filtered into the market. Since then, interest rate expectations have reversed course, initially favouring a 25-basis point hike and now largely favouring the no hike or “skip” outcome. As such, a weaker dollar has benefitted the yen which now sees the pair on track for 5 consecutive days of declines. The 138.20 and 138.00 zone of support currently appears as the next area of support, followed by the 200 SMA which hovers around 137.27 at present. The downward momentum is supported by the return from overbought territory on the RSI towards neutral levels, alleviating pressure on Japanese officials that had to issue a warning that they are closely watching speculative moves in the currency market. Resistance lies all the way at 140/142.25, some distance away. MAJOR RISK EVENTS OVER THE NEXT WEEK Today at 13:30 UK time, US non-farm payroll data is anticipated to reveal a fewer number of jobs being added in May compared to April. Actual prints have varied significantly from prior estimates so be prepared for increased volatility in the event we see another departure from the consensus figure of 190k. If yesterday's ADP (private payroll data) beat and increased employment number within the ISM manufacturing PMI are anything to go by, we could very well see a print above expectations. However, it must be said that ADP has proven an unreliable predictor of NFP data and the jury is still out on whether its new methodology is any better than the last. A sizeable beat may see an uptick in rate expectations, lifting the dollar, and by extension, USD/JPY. A miss could add to the current sell-off as traders get behind an interest rate skip later this month. US services PMI will be a crucial data point in analysing the state of the US economy at a time when equity indices surge on thanks to a handful of massive tech and AI-aligned names. Towards the end of next week Japan will see the final GDP figure for Q1 - which is likely to confirm a much improved outlook than what emerged in the final quarter of last year.
Long
by DaveBrascoFX
USDJPY Long Term SELLING Trading IdeaHello Traders In This Chart USDJPY DAILY Forex Forecast By FOREX PLANET today USDJPY analysis 👆 🟢This Chart includes_ (USDJPY market update) 🟢What is The Next Opportunity on USDJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Short
by ForexPlanet20
USDJPY - Bullish price action ✅Hello traders! ‼️ This is my perspective on USDJPY. Technical analysis: Here we are in a strong bullish market structure from 4H timeframe perspective, so I am looking for long. I want price to make a retracement to fill the imbalance lower and then to reject from bullish order block. Fundamental analysis: On Thursday will be released quarterly GDP in USA, if the actual is higher than forecasted it means strength of USD. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD
USDJPY Long Term SELLING Trading IdeaHello Traders In This Chart USDJPY DAILY Forex Forecast By FOREX PLANET today USDJPY analysis 👆 🟢This Chart includes_ (USDJPY market update) 🟢What is The Next Opportunity on USDJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
"USDJPY: Watching 148.80 for Reversal"The USDJPY currency pair is currently on an upward trajectory, approaching the key resistance level at 148.80. It's worth noting that in October of the previous year, the price experienced a significant downturn from this same level. Given this historical context, there is a reasonable expectation that a similar price reversal may occur this time as well. Should the daily candle manage to close above the critical resistance point at 148.80, it could potentially signal a further bullish extension towards the next target at 150.10. However, our strategy entails a bearish outlook. We plan to initiate a sell position at 150.10, with a target set at 145.55. This target aligns with the trend line support, which suggests a potential bearish move in the market, mirroring the historical precedent of price declines from the 148.80 level. 🔥1st Sell Entry - 148.80 🔥2nd Sell Entry - 150.10 👇TP - 145.50 🔴SL - Join Our Channel
Short
by FKW-Millions
A SELL TRADE SETUP ON USDJPYHI Traders, USD/JPY's bullish rally seems to be running out of steams and bullish momentum is beginning to the weakened down showing some downside preparation. 📌 Currently, the price is forming up a bullish wedge pattern in the 8H chart of usd/JPY. 📌 The price is showing a very prolonged Divergence taking note of the RSI indicator revealing LL and LH when the price is technically showing HH and HL. 📌 Though the price is yet to break below the 2weeks bullish trendline, but it is most likely going to break before the end if the week. 📌 Technically, a break below the wedge lower band the market could start a new bearish momentum. 📌 Stay on a watchout.
Short
by Adefxc
USDJPY - Fill the gap before bearish continuation ✅Hello traders! ‼️ This is my perspective on USDJPY. Technical analysis: As I said in my previous analysis price started the retracement, on 1H timeframe we can see that price changed the character. Now I expect price could fill the gap higher before going lower. Fundamental analysis: Tomorrow will be released monthly and yearly CPI on USD and on Thursday monthly PPI. Pay attention to the results in order to validate the analysis. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
2
USDJPY: Fibonacci!During the Asian session on Tuesday, USD/JPY is struggling to rebound from its losses in the previous day. The pair is treading water around 146.60 as market participants await the release of the US Consumer Price Index (CPI). The downward pressure on the pair can be attributed to both bullish comments made by the Bank of Japan (BoJ) and a lackluster performance by the US Dollar (USD). Governor Kazuo Ueda's recent remarks indicate that there is a possibility that the Japanese central bank may consider reversing its negative interest rate policy. This development has added further uncertainty to USD/JPY movement in recent days.
Short
by Sphyn-Trader
1
Gold Hits Record High Against Yen, Defies USD, So Sell JPY?I write to you today with concern and urgency as the gold market takes an unprecedented turn. In recent weeks, gold has reached record highs against the Japanese Yen (JPY), potentially defying the US Dollar (USD) dominance. This unexpected development calls for immediate attention and careful consideration, as it could have significant implications for traders like yourself. The Gold-Yen Relationship: For years, the USD has been the primary currency in which gold is priced and traded globally. However, the recent surge in gold's value against the JPY suggests a potential shift in the market dynamics. Historically, gold has been seen as a safe-haven asset during times of economic uncertainty, and its rise against the Yen may reflect growing concerns about the Japanese economy or geopolitical tensions in the region. Implications for Traders: As traders, it is crucial to recognize the potential impact of this gold-yen relationship on your portfolios. The weakening JPY could increase demand for gold, driving its price higher and potentially causing a ripple effect across various financial markets. Ignoring these warning signs could expose your investments to unnecessary risks. Short-Term Selling on JPY: Given these developments, I strongly urge you to consider a short-term selling strategy on the JPY. By taking advantage of the current gold-Yen dynamics, you can profit from the uptrend in gold prices against the Japanese currency. However, it is crucial to approach this strategy cautiously and seek advice from trusted financial advisors or experts. Seek Professional Guidance: Navigating the complexities of the financial markets requires expertise and careful analysis. Therefore, I encourage you to consult with professionals who can provide tailored advice based on your circumstances. They can help you devise a trading plan that aligns with your risk tolerance and investment goals, ensuring you make informed decisions. Conclusion: The record-breaking surge of gold against the Japanese Yen serves as a wake-up call for traders worldwide. By considering a short-term selling strategy on the JPY, you can potentially capitalize on the current market dynamics and safeguard your investments. However, always remember the importance of seeking professional guidance to ensure your actions align with your financial objectives. Take action now and stay ahead of the curve. The gold-Yen relationship demands your attention, and making informed decisions today will position you for success in the ever-evolving financial landscape.
Short
by bryandowningqln