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Bullish on USDJPYI've been very bullish on the USDJPY (sustained yen weakness combined with US dollar strength) A couple of conditions have led to this bullishness 1) Got interested; price broke above the downward trendline 2) First confirmation; price broke above the 23.60% Fibonacci level (133 price level) Now I'll be additionally bullish if the price breaks above the 38.2% Fibonacci retracement level, which could bring the target level of 142.20 within sight (this also aligns with the 61.8% fib level) Now to watch if BoJ Governor Nominee Ueda makes any drastic changes. No changes to the monetary policy could support further upside moves on the USDJPY
Long
by JinDao_Tai
2
USDJPY: Increase expected but watch end of week JPY FundamentalsAs we see the DXY continue to push up thanks to the fundamentals and potent9ial for a 0.5% rate hike, I'm expecting this pair to continue to push up. Key fundamentals out of Japan this week with inflation data on Thursday, there's also a speech on Friday by incoming Governor Ueda, not expecting policy comment, but if we get some it will likely have an impact on USD and JPY pairs. Depending on the DXY this week, and some weakness I'm expecting to continue for JPY based on JPYWCU, I'd expect we may reach the 137.5 region / where the 50MA and 100MA look about to cross, and then a drop / retracement. We saw a bearish pinbar on the daily on Friday, which does suggest a drop first, however I think this could be misleading due to the USD sell-off on Friday ahead of the long weekend. I'll be getting in with a bullish indicator on a LTF, and then out around 137 or end of day Thursday (ahead of the JPY CPI), whichever comes first. Whatever I expect volatility at the end of the week for this pair, it could drop very quickly with the fundamentals so I'll trade carefully and book profits!
Long
by Finchcliffe
1
Joe Gun2Head Trade - Short term top on EURJPY?Trade Idea: Selling EURJPY Reasoning: Short term top on EURJPY? Wave count, top pattern, VPOC. Entry Level: 143.03 Take Profit Level: 142.00 Stop Loss: 143.32 Risk/Reward: 4.24:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
USD/JPY swing low in place?Hawkish Fed members have helped to push US yields and the dollar higher. We saw some volatility across yen pairs on Friday after the favoured candidate to success Kuroda (and a dove) pulled out of the nomination, and Japan’s PM backed a more hawk candidate. If a hawk takes the helm, the yen will likely strengthen on hopes that the BOJ will abandon YCC. But until that happens, the BOJ remain dovish – and USD/JPY continues to appear oversold to my eyes. A bullish pinbar formed on Friday after a failed attempt to break below the 130.67 high, and we’re now looking for bullish momentum to return and taker the yen towards the 200-day EMA around 133.75.
Long
by CityIndex
EURJPYEURJPY has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992
Joe Gun2Head Trade - USDJPY break out yesterday?Trade Idea : Buying USDJPY Reasoning: Closing break above 134.65 on daily Entry Level: 134.70 Take Profit Level: 136.72 Stop Loss: 133.91 Risk/Reward: 2.48:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
GBPJPY sellAfter our Trade from yesterday, we have a new setup for today. Asia closed good. The price will spicke into our OB or even session high and then probably drop. If you want you can wait for a confirmation on a lower time frame, where you search for a ChoCH and an OB. $JPYBASKET is also about to hit our OB so that a reversal has a good change to happen. But I will enter directly when it hits our OB. Entry:162.050 SL: 162.200 TP1: 161.472 TP2: 160.500 TP3: 160.150 Would not recommend to risk more than 1%. Please like and comment what you think!
Short
by KurzRamon
3
USDJPY - Newborn Trendline?Hey hey! I hope everybody is doing great! Let's walk together trought some potential setups for next week on our favorite pairs, here is USDJPY to start up with. USDJPY has been on the upside since the dollar has gained some steam lately fueled by US news supporting dollar's strenght. JPY has been especially affected, the reason being that, while the BOJ is still maintaining it's ineterest rates close to zero, the Fed is debating on keeping it's high rates longer than expected looking to keep fighting against inflation. All for this is making a favorable ground for an ongoing advance of the dollar against the yen for the next weeks/months, until we can see some sort of rebalancing between the rates of the Fed and the BOJ and it's hard to see this hapening before the FED pivot expected later this year. Let's see now what we have from a TA point of view. After the solid double bottom we've had in the second half of january, we're going up, breaking a level after another. Last week we managed to go from 131.00 all the way to 135.00 without encounering any real resistance. But 135.00 is a strong psychological level, and the price has reacted strongly to it, preparing what could be a retracement, for the begining of next week. There's a top at 132.50 that looks like it could be retested, it is also the 50% Fib retracement of the previous push up, and, if timed properly, price could come and touch our "wanna be" trendline in green, confirming it. The situation : 1) Macro economics favor a strong dollar 2) Downtrend in USDJPY has been broken from a technical point of view 3) Price is reacting at the 135.00 level, like it did 4 times in the past already 4) We are identifing an Area of Interest, an area where the price could react to 5) This area has 4 elements in favor of a rebound of the price: - 132.50 psychological level - 50% Fib retracement from last push up - Previous High, that could become support - It could be the 3rd touch of a newborn trendline Knowing all this, I'm gonna put on my hunting hat, get my rifle all cleaned up, and wait for my bird to land... Hopefully it will, if not, another will, in both cases I'll be ready Cheers everyone and safe trading!!!
Long
by aemerydufoug