USDJPY trading signalsSELL USDJPY breaks Dow and builds Gap. Expect TP expectation at the breakout zone of 152.100. TP point coincides with EMA 34 when the pair also needs to recover to the EMA zone after a period of being far away from EMA.
JPYUSD trade ideas
Read the USDJPY MarketLet's Look at USDJPY Chart and make some Decisions for this Week, Good Luck With Your Trades <3
USDJPY needs to pay attention to the BOJ meeting on ThursdayThe Bank of Japan will make a decision on interest rates this Thursday and the market currently expects the bank to leave interest rates unchanged.
At about 10:00 Hanoi time on October 31 (Thursday), the Bank of Japan will hold an interest rate decision. As fears of a recession in the US ease, the Bank of Japan may signal that its policy outlook will be less dovish.
Recent data shows that Japan's core inflation remains under upward pressure, but the Bank of Japan will likely continue its "wait-and-see" approach at this week's meeting. The market will closely monitor the quarterly outlook report, as well as changes in the Bank of Japan's assessment of risks to the US economy and the recent depreciation of the yen.
Technically, after being limited by the 0.618% Fibonacci retracement level, OANDA:USDJPY has dropped to get more support from the upper edge of the price channel. Along with that, maintaining price activity above the 0.618% Fibonacci level will be a positive signal for the uptrend in the near future.
Currently, USD/JPY is likely to test the 154.525 level in the short term, more so than the 155.222 level with an upward trend from the near-term price channel.
However, the room for USD/JPY's price increase is no longer too wide as the Relative Strength Index (RSI) is reaching the overbought level, signaling corrections to occur. But as long as USD/JPY remains in the price channel, it still has an uptrend in the short term, and as long as it stays in the price channel and maintains price activity above EMA21, it still has an uptrend in the medium to long term. The current price drops should be considered a short-term correction without changing the main trend.
In the immediate future, the uptrend of USD/JPY will be noticed by the following technical points.
Support: 153.365 – 151.866
Resistance: 154.525 – 155.22 2
USDJPY - buy A little continuation trade. I'm only taking this trade to the last swing high because I'm not sure we have enough buying pressure to go beyond that at this point
USDJPY LONGContinueation of jpy weakness and usd strength im idealy looking for this setup to form this week
USDJPY TRADE SETUPPAIR : USDJPY
✔ Classic BULLISH formation
USDJPY is holding continuous UP Trend so market Already near the supply zone retracement area. I can take BUY entry when the market bull run. . If your analysis matches it take a trade otherwise skip the trade.
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USDJPY 1W | BULLISH IdeaThe USDJPY outlook remains bullish as strong U.S. economic data, particularly higher consumer sentiment and robust core capital goods orders, bolsters the dollar. With safe-haven flows supporting the USD amid global uncertainties and Japan’s dovish monetary stance, the pair is positioned for further gains. While the Fed’s cautious approach on rate cuts and stable Treasury yields may limit extreme upside moves, market sentiment favours moderate gains for USD/JPY in the near term, supported by the divergence between U.S. and Japanese central bank policies.
USDJPY IDEAUSDJPY IDEA
👀The price closes above 151.93, which indicates a victory of the buyer. The growth may continue, the target is 154.51. But a retest of the half support is possible. 📌⁉️
USDJPY Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Target: 153.5Rationale: Bullish momentum driven by the carry trade and the BoJ’s dovish outlook is expected to push USD/JPY higher. A break above the 152.5 resistance could lead to further gains. However, beyond 153.5, the gains may be limited due to potential profit-taking. If the pair retraces below 150, re-evaluate.
Action: Long with target at 153.5; minimal risk and relatively strong upside given the setup.
Weekly FOREX Forecast Oct. 28: USDJPY Is a BUY This Week! The JPY has been weak and will continue to trend downward. The USD is supported by favoring fundamentals, and will likely continue its current bullish leg.
Patience will pay you this week. Wait for valid buy setups. Sells are countertrend and lower probability, imo.
Buy USDJPY. Sell JPY Futures.
Enjoy!
May profits be upon you.
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0.00652 on friday Current Price: 0.00657 USD per JPY
Target Price (Friday, November 3, 2024): 0.00652 USD per JPY
Stop Loss: 0.00661 USD per JPY (above recent resistance level)
Entry: Consider entering around 0.00657, the current price level.
BoJ Meeting: The Bank of Japan’s policy meeting on October 31 could maintain or intensify the dovish stance, which may weaken JPY as the USD retains demand from ongoing global economic uncertainties.
U.S. Dollar Strength: The USD remains supported by expectations of stable Fed policy, adding pressure on JPY/USD.
Consolidation Midweek Rally #6.1 (Friday Trade)On Wednesday, price touched the April 29 breaker block, which led me to expect that Friday's price action wouldn't surpass Wednesday’s high. Additionally, since it’s close to month-end, the odds of upward movement tend to decrease.
Trade:
On Friday, price fell short of expectations but still provided an opportunity to secure some profits.
With a 30-pip stop loss, we can lock in profits while still aiming for target 2. However, it’s best to take partial profits, as Monday and Tuesday have the potential to push higher.
Future Value:
If Monday holds without breaking lower, Tuesday could potentially exceed both Monday's high (28.10.24) and Wednesday’s weekly high (23.10.24)
USDJPYUSDJPY in up trend. Correction is over and wait for the price dip in to the supply zone in the golden zone, then enter LONG.
Yen in correction or change of trend?Considering the support in the range of 151.415, after the failure of this area, it can be expected that the range of 150.401 will fall. Otherwise, after breaking the 453.104 resistance area, we can expect the 154.450 range to continue its rise.
USDJPY SELLThis is the weekly overview for USDJPY. Looks like Price is beginning to lose bullish momentum on the formation of a head shoulders pattern. Sell here at 152.3 into as low as 137.00
USDJPYaccording tecnical market is bullish for next week as well in my prediction jpy will reach back to 161 to its previus high till end of or before november. chart is clear to understand, dont forget to cheack weekly chart according to breakout. fvg is still valid for a spike. leave a comment for your thought.
USDJPY bullish trend + 2 inside bars... the week of 28 Oct, 2024This pair is bullish on all time frames and price is above the 200dma, adding to my bullish bias. It is good when you can find a few reasons to take a trade and an inside bar formation is my next reason. The large bullish candle on 23/10 was followed not by 1 but 2 inside bars. This shows a period of consolidation and when it appears on a daily chart within a trending market it is a strong indicator of trend continuation.
But a major s/r in the 152.80 region needs to be overcome before we look for bullish continuation. A convincing break above and a pullback to it will be the confirmation I need to take a long trade. If, however a strong move to the down side forms, that would invalidate my analysis.
My initial target would be in the 157.80 region with the possibility to let some part of the trade run higher.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Outlook on USDJPYBullish momentum on USDJPY , suggest that buyers have taken control after a period of selling pressure. If the price break above the resistance level, we could see a continuation of the bullish trend. If not, a pullback or sideways movement could be likely.
Consolidation Midweek Rally #6On Wednesday, price touched the April 29 breaker block, which led me to expect that Friday's price action wouldn't surpass Wednesday’s high. Additionally, since it’s close to month-end, the odds of upward movement tend to decrease.
On Friday, price fell short of expectations but still provided an opportunity to secure some profits.
USDJPY IS GOING TO FALL Hello trader , What do you think about Usdjpy ? Here on Usdjpy price has form a resistance around level of 151.887 and now try to fall so trader should go for SHORT with expected profit target of support level.Remember to like and share your thoughts in the comments!
Tokyo Core CPI complicates BoJ’s rate plansThe Japanese yen is showing limited movement on Friday. In the European session, USD/JPY is trading at 151.94, up 0.09%.
Tokyo Core CPI, a leading indicator of inflation trends in Japan, fell to 1.8% y/y in October, down from 2% in September and just above the market estimate of 1.7%. This marked a second straight deceleration and was the lowest level since April. A key service inflation indicator also slowed in October, dropping from 2.7% to 2.6%, a four-month low.
The decline in inflation is a disappointment for the Bank of Japan, which wants to see inflation remain sustainable around its 2% target before its raises interest rates on the path towards normalization. The BoJ meets next week and is expected to maintain rates. The central bank will release growth and inflation forecasts which could provide insights into future monetary policy. The cautious BoJ is unlikely to raise rates until early next unless inflation reverses its current downtrend and pushes higher.
The US wraps up the week with core durable goods orders and UoM consumer sentiment. The manufacturing sector has contracted for four straight months and core durable goods orders are expected to fall 1% in September, after no change in August. The UoM consumer sentiment index is expected to fall to 68.9 in October, compared to 70.1 a month earlier. Consumers are unhappy about high inflation and there is uncertainty over the US election, with an extremely tight race between Donald Trump and Kamala Harris.
USD/JPY is testing resistance at 1.5207. The next resistance line is 152.58
151.30 and 150.79 are providing support
