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Japanese Yen / U.S. Dollar

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JPYUSD trade ideas

Consolidation Midweek Rally #8I wanted the price to break last week’s high to confirm that it was moving upward, and this happened on Tuesday. I decided to wait for Wednesday, specifically after 2:30 PM NY time, to see if the price would return to the 15-minute order block. However, that didn’t happen. Instead, the price formed a double bottom, and below it, there was a 4-hour order block and the high of the mitigation block. Seeing this, I chose to step back and not trade. On Friday, I also didn’t trade because I avoid trading after three consecutive daily candles, even though I expected the price to create the high of the week on that day.
by Bufalodorato
Bearish drop off pullback resistance?USD/JPY is reacting off the resistance level which is a pullback resistance that is slightly below the 161.8% Fibonacci extension and could reverse from this level to our take profit. Entry: 153.63 Why we like it: There is a pullback resistance level that is slightly below the 161.8% Fibonacci extension. Stop loss: 154.98 Why we like it: There is a pullback resistance level that aligns with the 88% Fibonacci retracement. Take profit: 151.96 Why we like it: There is an overlap support level that aligns with the 38.2% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
USDJPY 1st 1D Golden Cross since June 2023! Bullish!The USDJPY pair has been trading within a long-term Channel Up since the October 21 2022 High. Today it formed its 1st Bullish Cross on the 1D time-frame in 1.5 year (since June 202 2023) and technically it is a very bullish development. It is not just the standard bullish dynamics of this formation but also that last time we had a Golden Cross, the price bottomed upon the completion of a 1D MACD Bullish Cross, which we also got today and rallied to hit the Resistance 1 level. As a result, this is a strong buy signal and our Target is just below Resistance 1 at 160.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
USD/JPY Analysis: Recovery Amidst Economic ShiftsThe US Dollar (USD) continues to make gains against the Japanese Yen (JPY), particularly following an upward revision of Japan's GDP for the third quarter. As a result, the USD/JPY pair has climbed back above the 150.45 level while I write this article. The Yen is facing some selling pressure, significantly influenced by growing uncertainties about the Bank of Japan's (BoJ) potential interest rate hikes in December, which has contributed to the JPY's underperformance against its USD counterpart. From a technical analysis viewpoint, the recent price rebound has occurred in a notable demand area on the weekly chart, where the currency pair has shown a decisive response. The price action suggests that there is strong buying interest in this zone, which may set the stage for further upward movement in the USD. Interestingly, seasonal forecasts hint at a possible bearish trend based on historical data over the last ten years. However, the current market dynamics and the way the price has reacted to the demand area indicate that there might be the potential for upward momentum for the USD in the near term. Additionally, geopolitical tensions and concerns surrounding incoming US President-elect Donald Trump's anticipated trade tariffs add another layer of complexity to the situation. Such uncertainties regarding trade policies are likely to support the Japanese Yen as a safe-haven currency, but the evolving landscape could limit significant downside movements. As investors prepare for the upcoming US consumer inflation figures, many may choose to remain on the sidelines. These data points will be crucial, as they could provide insight into the Federal Reserve’s trajectory regarding interest rate cuts, which in turn could enhance market momentum for the USD/JPY pair. With the current technical setup and market sentiment, we are keenly observing for a long entry point in the USD/JPY pair. As the economic landscape evolves and we gather more data, this strategy may provide advantageous opportunities for traders looking to capitalize on potential USD strength against the Yen. In summary, amidst the shifts in economic indicators and geopolitical challenges, the USD/JPY pair is positioned for potential upward movement, marking an exciting time for traders in this currency market. ✅ Please share your thoughts about USD/JPY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
3
A USD C Leg Would Offer Mega Profits. Here's a complimenting USDJPY analysis to the C leg hypothesis explained in the below post. I've been buying USDJPY a lot recently. Heavily loading up into the aggressive crash moves intraday, moving stops to even and by this point fully expecting that nice clean rip to new daily highs, where I begin to trail stops and look to repeat into the next crash. It's started to feel really easy of late, and that's always a good reason to be cautious. Because although it is true there are times it's easy trading the trend, it is always easy trading the trend heading into the reversal. Heading into a reversal aggressive dip buying is heavily rewarded. That's what makes it feel like a good idea to dumb stuff into the reversal. The USD reversal here would be an epic trade. A case can be made for the high of USDJPY being in now and this being a bull trap rally. Inside of that case, we'd now be at the area where there is most risk of it turning. We have the 76 rejection and the 61 retest. In a strong move, we're usually going to see the 61 reject. If the USDJPY high is not made with the 76 but there is going to be a big high in it, then we'd likely see a butterfly. That'd mean a hyper bullish USD in the near future but that being a false breakout. Top to bottom that trade would pay a little over $300 per 0.01 traded. These are big numbers when you consider your risk per 100 pips is $7 trading at 0.01. USDJPY could have a little more go to fill local short level but to bet on the high being in the risk on the trade looks like this. If that trade fails as a reversal pattern then usually the most bearish thing you can hope for is a big spike to fill the butterfly. That's another great level to try to fade the move inside of a narrow zone but given that if the 76 trade fails usually the best case is a bearish butterfly - this is really bad for immediate term shorts. It'll go parabolic even if you're generally right. And if you're entirely wrong it's just going to trend against you. All pullbacks ending higher than the last. I feel like a lot of the times there are major reversals in USDJPY we see a really strong open to the week. This can come off a gap down. I remember a big USDJPY recent high being a 50 pip gap down, recovery and then 200 pips up in a minute into the high. Anything tell tale like that early in the week I'd probably be interested in fading around the resistance levels. If we keep rallying through I'll stick with my buying all dips strategy with USDJPY and review it at the 1.61 if we get there. But if we see a sharp break in this I'm going to start to act as if we're inside of a developing C leg. Inside of a big C leg the small chart action would usually be something like this. And this would pick up momentum as it went until it turned into a full blown crash. If all of that happens, I think we'll see the most spectacular of USD rallies after it. A mighty crash in USD could set the scene for a really big and sustained rally. Would be really obvious to look for if the C leg idea hits.
Short
by holeyprofit