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USD-JPY - Why im neutral - No TRADE On this chart I am neutral - bullish. Personally, I would wait before entering the game because on the weekly trend there is still Beairsh, (green trend line), but on the daily he created a bullish trend line (the blue one), but I don't like how the RSI looks, on The RSI looks a bit overbought and I would expect a trend break on the weekly + DXY to break the resistance for a consolidation. At the moment, everything is very uncertain in the Forex area, there are fights between currencies at a global level and investors do not know which side to be on, so in situations like this it is better to wait and enter when there are clearer signals . This does not mean that it will guarantee us a profit, but our chances increase considerably.
by sfc95
USD/JPY pulls back towards support cluster around 133USD/JPY has pulled back from the April high, yet the strong bullish structure of the 1-hour chart suggests it can try to break to a new cycle high. Today’s low has found support at the 20-hour EMA and April 4th high. And volumes are now trending higher, and a bullish pinbar on higher volumes suggests demand above 133, which is just beneath the daily pivot point. • The bias is bullish above 133 and for a break above the April high • The initial target is the daily pivot point, just below 134.50 • A second target to consider is the R pivot, around the daily R2
by CityIndex
USDJPY Movement for the weekLast Friday showed the struggles between buyers and sellers with almost full bodied candles negating each others movement on a supply zone. As we can see on the chart, price currently struggled to get above the supply/resistance zone but it wasn't successful, and with the last 3 red candles we saw on Friday, I am of the opinion the BEARS are back. I won't say for sure until I see price cross and close below the purple 50 EMA which would make our first target 130.79. Feel free to comment. Please like and follow for more updates
Short
by owlswift_fx
USDJPY - CURRENT SENTIMENT , FUNDAMENTAL BIAS#USDJPY - As of last day, the MARKET SENTIMENT for USD was slightly UP SIDE. The main reason for that is the JPY starting to weaken a bit and the short-term POSITIVE SENTIMENT against the dollar. Because it came with the NFP REPORT. The dollar weakened slightly after the FOMC last time. But the FED can raise the RATE HIKE or their CEILING RATE whenever necessary. Anyway, it was mentioned in the previous MEETING that the FED is still MONITORING INFLATION DATA. - All MARKETS including STOCKS and COMMODITIES are going down slightly due to MARKET RISK OFF. - There is definitely a high chance that USDJPY will go UP a bit more and move to 135.610 LEVEL. Anyway, USDJPY price can go down to 124.739 LEVEL after that. We focus on MARKET UPDATES and MARKET SENTIMENT. Follow the given MARKET STRUCTURE.
by benny_marshall