U.S. Dollar / Japanese Yen forum
USDJPY 📊 USDJPY 24th January 2025 Daily Analysis Based on Main Key Levels
Introduction
In the ever-evolving landscape of forex trading, understanding market dynamics is crucial for success. This blog presents a detailed analysis of the USDJPY currency pair, focusing on key levels and actionable trade setups. The current Daily Current Market Price (DCMP) for USDJPY is 155.418.
Key Levels Summary
Resistance Levels Above DCMP (155.418)
🔺 Resistance 1: 156.491
🔺 Resistance 2: 157.721
🔺 Resistance 3: 158.481
Support Levels Below DCMP (155.418)
🟢 Support 1: 155.261
🟢 Support 2: 155.804
🟢 Support 3: 154.501
Swing Levels
📊 Swing High: 159.711
📊 Swing Low: 153.271
Trade Setup
💼 Intraday Buy Trade Setup
Entry Price: ✨ 155.261
Stop Loss: ❌ 155.000
Take Profit 1: 🎯 155.804
Take Profit 2: 🎯 156.191
Reason for Entry:
The support level at 155.261 is below the DCMP, indicating a strong buying opportunity. This level aligns with significant technical support, suggesting potential upward movement.
💼 Intraday Sell Trade Setup
Entry Price: ✨ 156.491
Stop Loss: ❌ 156.800
Take Profit 1: 🎯 156.815
Take Profit 2: 🎯 157.721
Reason for Entry:
The resistance level at 156.491 is just above the DCMP, providing a viable selling opportunity. This level coincides with key technical resistance, indicating potential downward movement.
Analysis Summary
Resistance and Support Levels: Key levels indicate potential reversal zones. Resistance levels are identified at 156.491, 157.721, and 158.481, while support levels are at 155.261, 155.804, and 154.501.
Swing Levels: The Swing High is at 159.711, and the Swing Low is at 153.271.
Pivot Levels: The pivot level is at 156.491, providing additional context for potential reversals.
Fibonacci Levels: Significant retracement and extension levels align with the identified support and resistance zones.
RSI Divergence: Indicates potential overbought conditions at resistance levels and oversold conditions at support levels.
MACD Crossing: Suggests bullish momentum at support levels and bearish momentum at resistance levels, confirming trade setups.
Conclusion
This analysis provides actionable trade setups and key levels to assist traders in navigating the USDJPY market. With the current market price at 155.418, traders can utilize the outlined support and resistance levels, along with technical indicators, to make informed trading decisions. Stay updated for more insights and analyses!
USDJPY lets buy uj. ;)
USDJPY The long term target of Boj is 145
USDJPY The USD/JPY setup is targeting a continuation of the uptrend, supported by both technical patterns and BOJ policy. The breakout above 156.000 signals a potential upward move, and the liquidity zone confirms the high probability of further bullish momentum. By using the buy stop order at 156.400, the trade aims to capture the next leg of the uptrend with a strong risk-to-reward ratio.
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USDJPY I posted this idea on 12/4/2024. I was right in my assessment but more importantly, it illustrates how forward looking the market is.Idea:JPY: Is the potential rate hik…
USDJPY lord i'm amazed...full at hit
USDJPY has 100 pips profit PLAN SELL USDJPY ( 156.200 - 156.400 ) great
USDJPY USD not having a bigger meltdown so price has been priced in. Get in now and go long for the next few month. Any further drop will be by retail traders. The big boys will start going long once the dust settles. Targeting $162+