USDJPY SELLING IDEADouble top, and its neckline was broken, US CPI data come negative
Conservative traders should wait for the retest, and aggressive traders may continue selling
USDJPY
200-DMA holds the gate for USDJPY bearsUSDJPY fades bounce off the 200-DMA as it failed to cross the previous support line from late May. However, nearly oversold RSI challenges the sellers and hence a short-term consolidation between the 200-DMA and the support-turned-resistance line, respectively around 135.00 and 138.00, can’t be ruled out. Even if the quote rises past the 138.00 round figure, the 21-DMA could challenge the buyers at around 138.50. It’s worth noting that a seven-week-old descending trend line joins the 50% Fibonacci retracement level of the May-October upside, near 139.15-20, to act as the last defense of sellers. In a case where the yen pair remains firmer past 139.20, a quick run-up toward the late November high around 142.25 appears imminent.
Meanwhile, a downside break of the 200-DMA support of 135.00 won’t hesitate to refresh the monthly low, currently around 133.60. Following that, the August month low near 130.40 and the 130.00 round figure can be witnessed. Should the quote remains bearish past 130.00, May’s bottom of 126.35 will lure the USDJPY bears.
Overall, USDJPY is heading lower as the key week begins. However, it all depends upon the US inflation and Fed meeting.
USDJPY Harmonic Pattern Forecast PricesUSD/JPY Weekly Forecast – US Dollar Gives Up Early Gains for the Week
The US dollar initially spiked to the ¥137.50 level, but then gave back a significant amount of gain to show signs of hesitation and volatility.
#USDJPY it's possible to buy#USDJPY waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance
Why we like it:
Price is trading in nearby 4hr support area
Waiting for bullish candlesticks formed
possible to move the next resistance area
waiting for retracement
1st support:
133.010
Next Zone area & horizontal swing Low support
1st Resistance
140.800
Zone area & horizontal swing high resistance
#USDJPY it's possible to buy#USDJPY waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance
Why we like it:
Price is trading in nearby 4hr support area
Waiting for bullish candlesticks formed
possible to move the next resistance area
waiting for retracement
1st support:
133.010
Next Zone area & horizontal swing Low support
1st Resistance
140.800
Zone area & horizontal swing high resistance
USDJPY has more room towards the south as it breaks 200-DMAUSDJPY is under immense pressure as it breaks the 200-DMA support, as well as marks the 3.5-month low. Even though the oversold RSI suggests a mild corrective bounce, the trend appears bearish after it broke an upward-sloping support line from late May. That said, the bears currently aim for the 78.6% Fibonacci retracement level of the pair’s May-October upside, around 132.00. If the quote fails to rebound from the key Fibonacci retracement level, the August month’s low near 130.40 and the 130.00 round figure may act as the last defense of the buyers.
Alternatively, recovery moves need to provide a daily closing beyond the 200-DMA level of 134.60 to tease intraday buyers. Even so, a corrective bounce needs to cross the 137.40 resistance confluence comprising the previous support line from May and a monthly descending trend line. Should the quote rises past 137.40, another trend line from October 21, close to 140.25, will be crucial before giving control to buyers.
Overall, USDJPY is likely to witness further downside towards 132.00 but further downside appears bumpy.
#USDJPY it's possible to buy#USDJPY waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance
Why we like it:
Price is trading in nearby 4hr support area
Waiting for bullish candlesticks formed
possible to move the next resistance area
waiting for retracement
1st support:
133.010
Next Zone area & horizontal swing Low support
1st Resistance
140.800
Zone area & horizontal swing high resistance
usdjpybuy usdjpy
usdjpy is trading near a strong buy support of 22nd May 2022.
we clearly see it will touch the TP of 142 to 143 near
USDJPY ANALYSIS FOR NEXT MONTH.weekly trend : bearish
daily trend : bearish
4 hour trend : be
1 hour trend : bullish
after the downside rally from 142 level, we can see a 78% retracement back to 141.5 levels mitigating all imbalances in between & testing the stronger high.
a strong short opportunity at those levels. for this week & next week.
#USDJPY it's possible to buy#USDJPY waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance
Why we like it:
Price is trading in nearby 4hr support area
Waiting for bullish candlesticks formed
possible to move the next resistance area
waiting for retracement
1st support:
137.010
Next Zone area & horizontal swing Low support
1st Resistance
140.800
Zone area & horizontal swing high resistance
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
1st support:
136.144
Next Zone area & horizontal swing Low support
1st Resistance
146.840
Zone area & horizontal swing high resistance
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
1st support:
136.144
Next Zone area & horizontal swing Low support
1st Resistance
146.840
Zone area & horizontal swing high resistance
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
1st support:
136.144
Next Zone area & horizontal swing Low support
1st Resistance
146.840
Zone area & horizontal swing high resistance
Trade in USDJPYThis is the chart of USDJPY in 4h time frame , as you can see an inverted head and shoulder pattern , as soon as a candle closes above the necline of the pattern we can take a long trade in this , keeping the risk reward ratio 1:1.5
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
1st support:
136.144
Next Zone area & horizontal swing Low support
1st Resistance
146.840
Zone area & horizontal swing high resistance
USDJPY bears brace for 136.00A clear downside break of the 100-DMA, as well as a daily closing below July’s peak, keeps USDJPY sellers hopeful. However, a convergence of the 61.8% Fibonacci retracement level of the May-October upside and an upward-sloping support line from May 24, around 136.00, appears a tough nut to crack for the bears. Following that, a slump toward the 200-DMA support of 132.70 can’t be ruled out. However, an area comprising multiple levels marked since late April, around 131.25-50, could challenge the pair’s further downside.
Alternatively, recovery moves need to stay beyond the 100-DMA support level surrounding 140.75-80 to trigger short-term corrective buying. Even so, 38.2% and 23.6% Fibonacci retracements, close to 142.20 and 145.90 in that order, could challenge the USDJPY buyers. In a case where the pair remains firmer past the 146.00 round figure, the odds of witnessing a run-up targeting the fresh 24-year high, currently around 152.00, can’t be ruled out.
Overall, USDJPY sellers hold control but the downside room appears limited.
USD JPY in Strongn SupportUSD JPY in Strongn Support
USDJPY in strong support and Fib @ 61.8 n0w in Day TF
have to wait till demand zone or confirmation for buy in 61.8 with strong buy volume and candle
USD JPY Sell Below 145 USD JPY Look Like Changing Trend to Sell Direction
Short Below 145
Target 143 , 142
USDJPY Buy Trade opportunityUSDJPY Buy Trade opportunity
it's Overall Bullish trend recently break the resistance area and make a very strong Bullish candle above its a very good opportunity to take a Buy trade with a good risk-reward target and the stop area is mentioned in the chart
Always Use Stop Loss
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
1st support:
146.669
Next Zone area & horizontal swing Low support
1st Resistance
150.120
Zone area & horizontal swing high resistance
USDJPY bulls need to cross 147.70 to stay on the tableUSDJPY poked the year 1998 high on Thursday while piercing a weekly resistance line, staying near the immediate resistance line of late. That said, the RSI is overbought as the pair struggles with the 24-year high near 147.70, which in turn suggests hardships for the further upside move. If the quote crosses the 147.70 hurdle, its run-up towards an upward-sloping trend line from late April, near 149.00, and the 150.00 psychological magnet will become imminent. It’s worth noting, however, that the buyer’s dominance past 150.00 won’t hesitate to challenge the late 1990 peak surrounding 151.65.
Meanwhile, sellers could take entries if the USDJPY pair breaks a 2.5-month-old support line, currently around 144.60. Following that, a south-run to late September low near 140.35 and then to the 140.00 round figure can’t be ruled out. However, July’s top near 139.40 could challenge the sellers afterward, failing to do so can draw a gradual south-run towards August month’s bottom close to 130.40.
Overall, USDJPY is near the key resistances as the overbought RSI suggests that the bulls are running out of steam. Hence, a pullback is well-expected but the change of trend is off the table unless the quote breaks 144.60.
USDJPY AnalysisUSDJPY is moving in the Box pattern and the market has reached the resistance area of the pattern.
