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USDJPY Forecast: Insights for the New Week & Follow-Up AnalysisIn the previous week, we witnessed a remarkable 4.6% surge in the Japanese yen, propelling it to a two-month high against the greenback. However, as Friday's trading session unfolded, the U.S. dollar began to edge higher, with traders factoring in the potential end of the Federal Reserve's rate hike cycle amid easing inflation. Softer-than-expected U.S. inflation data, reported on Wednesday and Thursday, reinforced the belief that the Federal Reserve is nearing the end of its interest rate-hiking cycle. While markets still anticipate a 25 basis point hike later this month, another hike this year is no longer the base case. As we shift our focus to the upcoming week, all eyes are on the U.S. retail sales data, a vital indicator of consumer spending in the economy. A high reading is seen as positive for the USD, while a low reading is perceived as negative. USDJPY Technical Analysis: In this video, we provide an in-depth USDJPY technical analysis, dissecting the current market structure. Our attention centers around the key level of 138.800, which also serves as the neckline of a "potential" reversal pattern identified in the 1-hour timeframe. As price action remains within this zone, it becomes an area of interest that could lead to choppy consolidation before a clear direction emerges. The market's reaction around the 138.800 area at the beginning of the new week will heavily influence the trajectory of price action throughout the upcoming days. Join me on this journey as we explore potential trading opportunities using trendlines and key levels. Remember, that we place significant emphasis on the importance of the 138.800 level, as a breakout or retest of this zone will validate the potency of the identified reversal pattern. Stay connected to my channel, follow my updates, and actively engage in the comment section as we navigate the dynamic USDJPY market together. Wishing you the best of luck as you chart your course in the USDJPY market this week. Get ready for an exciting ride filled with insights and trading opportunities! Disclaimer: Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy. It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment. I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it. Please note that past performance is not necessarily indicative of future results.
by darcsherry
1
USDJPY-NEXT MOVE CAN BE 500+ PIPS ONEEveryone, hope you all having a great week, our march setup on USDJPY have been working out perfectly, price on daily timeframe have breakout the previous structure and apparently showing strong bullish sentiment. We need to wait for DXY to show bearish price sign, once we do. UJ will drop significantly. Like and Comment, as always thank you so much for showing support and love, we will keep bringing the high quality charts and do let down any pair that you may want us to analyse.
Long
by Setupsfx_
36
USDJPYUSDJPY, due to strong DXY, as we had explained in our previous USD pairs that we are expecting DXY to be bullish in upcoming days; so current approarch on USDJPY is bullish for another month or so, we will have to wait for price to complete the bullish price momentum. Once the price reach our area of entry we can enter the swing sell position for a nice 1000 pips. Always remember patience pays. If you like our work do like and share and follow for more. Thank you as always, Happy Trading ;)
by Setupsfx_
23
USDJPY – What's the intervention threshold? USDJPY – What's the intervention threshold? In September of last year, the Bank of Japan (BOJ) made a move in the market to strengthen its currency when it reached 145 against the USD, marking the first such intervention since 1998. This action was taken following the BOJ's decision to maintain an extremely accommodative policy (a policy that is yet to change still). The BOJ intervened once more in October when the yen further plummeted to its lowest level in 32 years, reaching 151.94 against the dollar. At present, investors hold a substantial short position in the yen, valued at $9.793 billion, representing the largest such position in the USDJPY since May 2022. This value has nearly doubled in just the past three months. Notably, former Japanese Vice Finance Minister Eisuke Sakakibara has suggested that the USDJPY could reach 160 before the BOJ intervenes once again. However, the USDJPY has recently built a bit of a buffer between itself and whatever the intervention threshold is for the BoJ. Over the past two trading days, the US dollar has weakened, largely due to remarks made by Federal Reserve officials. These statements have strengthened the belief that the US central bank is nearing the end of its tightening phase. It is widely anticipated that Fed policymakers will implement a rate increase during their upcoming meeting this month, which would set the policy rate range at 5.25% to 5.50%. However, the timing of any subsequent rate hikes remains uncertain. There are questions whether they will raise rates again in September, delay until November, or maintain the current stance and allow inflation to naturally subside over time. Consequently, the US dollar has experienced a decline against the yen, reaching a low of 141.32 yen, the lowest level observed since June 21. Currently, it is down 0.5% at 141.328. This drop follows a decrease of nearly 1.3% seen last Friday when the US nonfarm payrolls for June fell short of market expectations at 209,000.
by BlackBull_Markets