USDJPY
#USDJPY Hoping for Long Position One can expect very sharp recovery in #USDJPY SO one one can take little risk and go for buy position
USDJPY One can Take A Long Position We can take long position in USDJPY as it has given a hammer pattern and has closed at very good price so from current levels we can see a sharp spike up to 140 with SL below 129.20 and we can expect a target of 3-4:1.
US DOLLAR INDEX ANALYSISShooting Star on a 6 months chart of TVC:DXY
Is clearly signaling the Crash in US Dollar. Dollar likely to depreciate against major currencies like Yen, Euro, INR
It will be also Bullish for Precious Metals and Commodities.
And Bullish for Stocks.
USDJPY recovery remains doubtfulUSDJPY consolidates the biggest daily loss in 14 years while positing a gradual rebound from the 78.6% Fibonacci retracement level of its May-October upside. The recovery moves also gain support from the RSI’s bounce off the oversold territory. However, the early month low near 133.65 challenges the immediate upside, a break of which could validation the Yen pair’s further advances towards a convergence of the 200-DMA and a two-month-old descending resistance line, close to 136.00. In a case where the quote remains firmer past 136.00, the previous support line from, close to 138.80-85, will be crucial as a break of which could welcome bulls.
Alternatively, a daily closing below the 78.6% Fibonacci retracement near 131.80 precedes the August 2022 low near 130.40 to challenge the USDJPY bears. Also acting as a downside filter is the 130.00 round figure. Should the pair sellers keep the reins past 130.00, multiple hurdles near 128.30 could offer intermediate halts during the quote’s anticipated south run towards May’s low of 126.35.
Overall, USDJPY bears are taking a breather and still hold control despite the latest corrective bounce.
#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:
128.010
Next Zone area & horizontal swing Low support
1st Resistance
136.400
Zone area & horizontal swing high resistance
Daily Resistance @ 133.90 , Keep SELLING@ 133.90 U.S. dollar weakens as risk appetite rises with data showing slowdown
The dollar slid against most currencies in choppy, thin trading on Friday as data signaled that the U.S. economy is cooling a bit, reinforcing expectations of smaller interest rate increases from the Federal Reserve and improving investors' risk appetite.
USDJPY prints bear flag as Bank of Japan gains attentionUSDJPY is likely to end 2022 on a negative note, despite bracing for the biggest yearly run-up since 2013. However, the Yen pair portrays a bearish chart pattern, a bear flag on the four-hour play as traders keep their eyes on the Bank of Japan (BOJ). Given the downbeat oscillators and hawkish expectations from the BOJ, the bearish chart formation amplifies the downside expectations. As a result, bears could wait for a clear downside break of 134.90, to refresh the monthly low of 133.60. In that case, the August 2020 low near 130.40 and the 130.00 psychological magnet will gain major attention during the south run aiming for the theoretical target surrounding 120.00.
Meanwhile, the top line of the stated bear channel, close to 138.50, restricts short-term USDJPY recovery moves. A clear upside break of the same will defy the bearish chart pattern and could poke the 200-SMA surrounding 140.80. In a case where the Yen pair buyers manage to cross the last hurdle, namely the 200-SMA, late November swing high near 142.25 and the 145.20 resistance could flash on their radars.
Overall, USDJPY is on the bear’s radar after two years of a bullish move.
Is USD in a wedge? 😮Initial target of 104 on the downside in USD was fulfilled last week. Now it is forming a wedge pattern, and a breakout may test the resistance provided by the initial falling channel.
Swinging YEN brings me joy :D
Have been tracking YEN from past 6 months, and went long on USD(short YEN) last night. I think it will stay in 134 to 138 range till a clear break out happens. What could be the trigger for that?
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
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
