USDJPY trade ideas
Fundamental Market Analysis for November 7, 2024 USDJPYEvent to pay attention to today:
21:00 EET. USD - FOMC Rate Decision
USDJPY:
The Japanese Yen (JPY) is experiencing difficulty in registering a notable recovery against its US counterpart and is currently trading at a level approaching its lowest point since 30 July. The Bank of Japan's (BoJ) limited ability to raise interest rates and the prevailing risk-on environment continue to undermine the safe-haven yen. Furthermore, the rise in US Treasury bond yields, driven by the return of Republican Donald Trump as the 47th President of the United States (US), has contributed to the downward pressure on the low-yielding yen.
Meanwhile, the overnight decline prompted a verbal intervention from Japanese authorities, which may provide some support to the yen and help limit losses. The US dollar (USD) is currently trading just below the four-month high reached on Wednesday, amid optimism over growth and inflation. This could limit the Federal Reserve's (Fed) ability to cut interest rates. This could provide further encouragement for the USD/JPY pair ahead of the highly anticipated Federal Open Market Committee (FOMC) decision this Thursday.
Trade recommendation: Trading mainly by Sell orders from the current price level.
Will the Yen Recover or Will the USD Continue to Rise?Hello everyone, let’s join Alisa in predicting the USD/JPY currency pair!
The Japanese Yen (JPY) is struggling to recover against the USD, hovering near its lowest level since July 30, due to uncertainty about the Bank of Japan’s interest rate policies and the prevailing risk environment. Additionally, rising US Treasury yields, especially after the return of Donald Trump, are limiting the JPY. The sharp drop in the Yen has prompted intervention from the Japanese government, providing some support. Meanwhile, the USD remains strong, close to its highest level in 4 months, fueled by optimism about growth and inflation, which is supporting the USD/JPY pair ahead of the Fed's policy decision later this week.
Based on technical chart analysis, the support level at 151.49 is helping maintain the upward trend for the USD/JPY pair. While the pair faces resistance at 154.58, any pullback would likely be supported at the previous resistance level of 152.41, providing a foundation for a potential recovery. If USD/JPY breaks through the 154.58 resistance, it could target new higher levels.
Given the current technical and fundamental factors, what do you think the next move for USD/JPY will be? Will the Yen recover, or will the USD continue to strengthen?
USDJPY H1 | Bullish Bounce Based on the H1 chart analysis, we can see that the price is falling to our buy entry at 153.86, which is a pullback support that aligns with the 23.6% Fibo retracement
Our take profit will be at 154.66, a multi-swing high resistance.
The stop loss will be placed at 152.97, a pullback support that aligns with the 50% Fibo retracement.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
USD/JPY surges as Trump storms to victoryThe US dollar is on a tear against the major currencies after Donald Trump’s sweeping victory in the US presidential election. In the North American session, USD/JPY is trading at 154.62, up a massive 2.0% on the day.
There are still plenty of votes to count in the US election but it looking increasingly likely that Republican Donald Trump has been re-elected as President. Trump and Democrat Kamala Harris were in a dead heat going into the election on Tuesday and there was concern that declaring a winner could take days or even weeks, which would have led to prolonged uncertainty.
In what was a huge surprise to both sides, Trump cruised to victory. The win is even sweeter for the Republicans as they likely have won control of both the House of Representatives and the Senate. With the Republicans in charge, Trump’s agenda will be easier to push through Congress. It should be noted that at the time of writing, the vote count is incomplete and Harris has not conceded defeat.
The US dollar has responded to the Trump win with sharp gains and the yen is in full retreat. Trump’s threats to slap stiff tariffs on China, Europe and Mexico would support the dollar, as tariffs would raise inflation and interest rates. If Trump’s policies lead to trade wars, market sentiment will fall, further boosting the dollar.
The Bank of Japan released the minutes of its September meeting today. At the meeting, the BoJ kept rates at 0.25% and Governor Ueda said that BoJ would not rush to raise rates during market volatility. Those comments were a response to a stock market slide after weak US employment reports raised fears that the US economy was deteriorating much more quickly than expected. Those fears were unfounded and the markets don’t expect a BoJ rate hike before early 2025, although if the weak yen takes a dive, it could accelerate plans to raise rates.
USD/JPY has pushed past resistance at 151.86, 152.87 and 153.84. The next resistance line is 153.95
150.78 and 149.77 are providing support
USD/JPY Long Setup: Gap Fill in Focus
A recent price gap on the USD/JPY chart suggests potential for a long position. Given the price gap, we expect a possible gap fill scenario similar to last week, where the price moved to close the gap. This provides an opportunity to enter a long trade, anticipating upward movement with a careful stop loss.
Support Zone : 151.650 - 151.752
Stop Loss: 151.596
Take Profit : 152.878
USDJPY - Analysis My main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels.
In particular case we clearly can see the following context: price swept 1D key liquidity level and left untouched level lower.
But to take more statistically more probable trades we should wait for some time of lower timeframe confirmation. For me the best way to confirm higher timeframe context is structure.
We can notice the break of market structure (sign of weakness) on key liquidity level, so there is a higher probability to see price lower at least on opposite level (marked lower).
Your success is determined solely by your ability to consistently follow the same principles.
USDJPY Wave Analysis 6 November 2024
- USDJPY broke resistance area
- Likely to rise to resistance level 156.00
USDJPY currency pair today broke the resistance area located between the resistance level 153.25 (which reversed the pair twice at the end of October) and the 61.8% Fibonacci correction of the sharp downward impulse from the start of July.
The breakout of this resistance area is likely to further increase the bullish pressure on this currency pair.
Given the strongly bullish US dollar sentiment that can be seen across the FX markets today, USDJPY currency pair can be expected to rise further to the next resistance level 156.00, former minor support from July.
145.00 in the sights on USDJPYIntraday Update: The USDJPY continues to move higher post election night as the 154.75 level is the 161% extension of the Aug 15ht highs to Sept 12th lows. RSI is divergent, but with yields moving/breaking higher today its hard to see it stop short of 145.00.
YEN CARRY TRADE PART 2 The chart posted is the YEN /US$ carry trade ABC RALLY IS ABOUT OVER !!!please move the Exits in an orderly matter Thank you !
USDJPY TRADE IDEAHi all
look like its a good time to short long JPY
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading my skills also for my trade journal**
Thanks a lot for your support
USD/JPY Buyers Target Three-Month High as Yen WeakensTrump's familiar rhetoric on trade tariffs has led to renewed concern for Japanese exporters, particularly at a time when Japan's economic stability relies heavily on external support to maintain growth momentum. These concerns, coupled with increased risk aversion, have weakened the yen against the U.S. dollar. As a result, USD/JPY managed to erase losses from the previous week, signaling renewed strength for the dollar.
Technical Analysis
From a technical standpoint, USD/JPY has approached a critical level on the daily chart, with buyers testing the resistance at 153.875. This price level represents a key inflection point, as it marks the upper limit of the pair's rally that commenced on September 16. A decisive break above this resistance would open the door for further gains, targeting subsequent levels at 154.582, 155.481, 156.473, and eventually 157.180.
On the other hand, a failure to break through the 153.875 resistance level would embolden sellers, putting the focus back on the support levels at 152.883 and 151.277.
Key Events to Monitor
The minutes of the Bank of Japan's latest meeting indicated that policymakers remain cautiously optimistic about Japan's economic recovery and see opportunities for future rate hikes. This news has already prompted a reaction in U.S. Treasury yields, with the focus now turning to the upcoming 30-year Treasury bond auction on Wednesday. The outcome of this auction, along with ongoing U.S. election developments, could significantly impact the direction of U.S. yields, thereby affecting USD/JPY price action.
USD/JPY: Bullish Outlook with Key Support at 151.79USDJPY Analyze
The overall trend remains Bullish as long as the price stays above 151.790, with bullish targets at 154.260 and potentially 156.58.
A corrective move toward the pivot line at 151.79 is possible before the bullish trend resumes. However, if the price stabilizes above 151.790 with a daily candle close, a bullish move of 151.790 extend toward 154.26.
otherwise, the closing daily candle below 151.780 will drop to 149.82
Key Levels:
Pivot Line: 151.790
Resistance Levels: 153.60, 154.26, 156.58
Support Levels: 149.82, 147.82, 146.4
Expected Range: 151.78 - 154.26
Trend: Bullish while above 151.79
USDJPY / TRYING TO REACH DEMAND ZONE AFTER SUPPLY ZONE / 4HUSDJPY / 4H TIME FRAME
HELLO TRADERS
Current Price Action:
The prices are trying to reach a demand zone between 150.210 and 148.835. A demand zone typically indicates an area where buying interest is expected to increase, potentially causing prices to rise if they stabilize here.
Upward outlook:
If prices remain and stabilize inside or above this demand zone, it suggests the possibility of an upward move. This would be a bullish indicator, pointing towards an increase in price to the next supply zone between 152.763 and 153.914. Supply zones are areas where selling pressure may occur, potentially leading to price resistance.
Downward outlook :
If the prices break below the current demand zone (148.835), this would imply bearish pressure, suggesting a possible further decline. The next target in this scenario is another demand zone between 146.422 and 145.917, where buyers might step in again.
Overall Market Sentiment:
Despite the potential for a decline if the current demand zone is broken, the analysis notes that prices are currently under bullish pressure. This means the overall market trend is upward, but staying above the key demand zone is crucial for this bullish outlook to remain valid.
USDJPY What Next? BUY!
My dear subscribers,
My technical analysis for USDJPY is below:
The price is coiling around a solid key level - 152.06
Bias - Bullish
Technical Indicators: Pivot Points High anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 152.68
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
USD/JPY "The Ninja" Bank Money Heist Plan on Bullish SideOla! Ola! My Dear Robbers / Money Makers & Losers, 🤑 💰
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Major USDJPY Directional Analysis Post ElectionThe drift back to recent highs has been propelled by USD strength as election results come in.
Lack of BOJ impetus for falls still exists.
Short side bias can be taken, would not be surprised if price gets slightly higher.
USDJPY BUY ANALYSIS FALLING WEDGE PATTERN Here on Usdjpy price form a falling wedge and now try to rise if line 152.769 break then trader should go for LONG and expect profit target of 153.458 and 154.204 . Use money management
USDJPY Analysis for November 6, 2024: Slight Bullish Bias DrivenUSDJPY Analysis for November 6, 2024: Slight Bullish Bias Driven by Key Market Fundamentals
As of November 6, 2024, USDJPY appears to have a slightly bullish bias, influenced by various fundamental factors and recent shifts in market conditions. Traders and investors are paying close attention to developments affecting both the US dollar (USD) and the Japanese yen (JPY) as economic data and policy expectations guide market sentiment. Here’s a look at the key drivers contributing to USDJPY’s bullish outlook today.
Key Drivers Supporting a Bullish Bias for USDJPY
1. Federal Reserve’s Hawkish Stance
The Federal Reserve has maintained a hawkish stance, signaling a commitment to keeping interest rates elevated for an extended period. This approach supports the USD as higher yields attract investors, driving demand and potentially leading to further gains in USDJPY. If the Fed continues to prioritize inflation control, this could provide a steady tailwind for the dollar against the yen.
2. Divergent Monetary Policies Between the US and Japan
While the Fed remains hawkish, the Bank of Japan (BoJ) is expected to maintain its ultra-loose monetary policy. The BoJ has shown little intention of changing its low-interest-rate environment, making JPY less attractive in comparison to USD. This divergence in monetary policy provides a bullish edge for USDJPY as the yield differential widens.
3. Strong US Economic Data
Recent economic data from the US, including robust GDP growth and stable employment figures, further supports USD strength. These indicators suggest a resilient economy, giving the Federal Reserve more flexibility to maintain or even raise rates. Consequently, the USD is positioned favorably against the yen in the near term.
4. Risk Appetite Supporting USD over JPY
Although JPY traditionally benefits as a safe-haven currency during periods of market uncertainty, today’s risk sentiment leans toward moderate optimism. As risk appetite grows, traders are more likely to favor the USD over JPY, adding another layer of support to the USDJPY’s bullish momentum.
Technical Indicators Highlight Potential Upside
From a technical perspective, USDJPY is trading above its key support level at 150.00, a sign of bullish resilience. If USDJPY can break above the 150.80 resistance, it may pave the way for further gains toward the 151.50 mark.
Conclusion
In summary, today’s analysis indicates a slightly bullish bias for USDJPY, driven by the Fed’s hawkish stance, divergent monetary policies, positive US economic data, and favorable risk sentiment. Traders should watch for potential resistance levels that could influence USDJPY’s momentum in the short term.
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Asia Session Recap - USDJPYTook 1 trade during Asia Session on USDJPY. Weekly Breakout Continuation setup back up to the weekly peak.
USDJPY H4 | Bearish Drop Based on the H4 chart analysis, we can see that the price is falling to our sell entry at 153.79, which is a pullback resistance (waiting for the pullback)
Our take profit will be at 152.52, a pullback support.
The stop loss will be placed at 154.59 which aligns with the 127.2% Fibo extension
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
**USD/JPY 15-Minute Forecast: Watching Key Levels Closely!**⏱ **USD/JPY 15-Minute Forecast: Watching Key Levels Closely!** 📉📈
USD/JPY is currently at **151.840** on the 15-minute chart. We're closely watching the **152.336** level—if it breaks and reverses, we could see a dip toward **151.556** as a target.
🔍 **Key Levels:**
- **Current Price:** 151.840
- **Resistance:** 152.336
- **Support:** 151.707
💡 **Quick Insight:** A break and reversal at 152.336 may trigger a bearish move down to 151.556. Keep an eye on these levels for potential trade entries!
👉 Do you see a similar setup? Share your view below!
#USDJPY #ForexTrading #15MinChart #PricePrediction #Pipnest
USDJPY Is Bouncing Toward The NWOGLike many other currency pairs on the US dollar, USDJPY also opened with a downgap this week. This was still not closed and turned out to be a break-away gap with further price losses. The upcoming decision in the race for the US presidency is likely to be accompanied by high volatility. We expect USDJPY to close its gap soon. This assumption is also based on the fact that the price reacted with a bounce after reaching a Fibonacci retracement at 151.36.
