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USDJPY

USDJPY: Bulls run out of steam, focus on US Retail Sales, 150.00USDJPY is stuck in a tight weekly trading range near the 200-day Exponential Moving Average (EMA), hovering between 149.30 and 150.00, as traders are on the lookout for the US Retail Sales report coming Thursday. Buyers need a strong boost to keep the reins In addition to the nervousness ahead of the data release and the 200-day EMA, the fading bullish momentum in the MACD and a steady RSI near overbought levels show that USDJPY is struggling to attract buyers. However, trading above key EMAs makes it tough for sellers to gain control. While bulls are likely to stay in charge, a pullback seems expected unless the upcoming data gives the US Dollar a lift. Key technical levels to watch If the US Dollar falls after the data, watch for the 149.30 level comprising the lower band of the immediate trading range and the 200-day EMA as key support. Following that, a quick drop to the 147.30-20 zone, including the 50-day EMA, is possible. However, the quote’s sustained weakness past 147.20 will make it vulnerable to slump toward the 23.6% Fibonacci Retracement of its July-September downside, close to 144.85. On the upside, buyers need to break above 150.00 to maintain control. If they do, a rise towards the 50% and 61.8% Fibonacci levels at approximately 150.80 and 153.50 is likely. Buyers are still optimistic, but it all hinges on the US data Despite challenges for USDJPY buyers, solid support levels and potentially positive US data hint at further gains. This is especially true with the Bank of Japan's easing hawkish stance and expectations for fewer rate cuts from the US Federal Reserve.
by MTradingGlobal
2
USD/JPY Daily & H4 Analysis: Sell Setup Near Strong Supply ZoneOn the Daily timeframe, USD/JPY is currently trading near a strong Supply zone around 149.50 - 150.00, which has previously acted as a significant resistance level. This area is historically known for providing strong selling pressure, making it a potential zone to watch for bearish opportunities. Technical Insights: Daily Supply Zone: Price is testing a critical supply area, indicating that the upward momentum may be stalling as it approaches this resistance. The previous interactions with this zone have resulted in price rejections. Bearish Divergence on H4: On the H4 timeframe, the Awesome Oscillator (AO) is showing bearish divergence. While price has been making higher highs, the AO is printing lower highs, signaling weakening buying momentum and increasing chances of a reversal. Trade Plan: Entry: Look for a bearish reversal pattern (e.g., bearish engulfing, pin bar) on lower timeframes (H4 or H1) to confirm entry. Ideally, wait for a strong rejection from the supply zone. Stop Loss: Above the 150.00 level, just beyond the supply zone, to minimize risk from potential false breakouts. Target: Initial target around 148.00, with potential to extend toward 147.00 if momentum continues in favor of sellers. This setup aligns with both technical signals and price action, offering a good opportunity to short the pair if the conditions are met. FX:USDJPY OANDA:USDJPY FOREXCOM:USDJPY
Short
by Trading_Zone_3773
Yen to go bulls till 162... Greetings fellow traders! I have always been majorly bullish on the Yen. I expect to see it tap 200.000 some time in the future. But that's just a weak expectation and not a proper forecast. Let's get into what 'my' forecast is. Yen swept the sellside liquidity below 140.000 , which was Dec'23 swing low, in Sep'24. The structure shifted on the weekly timeframe (marked as wmss) with a strong bullish marubozu type bar, showing the excitement and strength of the market. The seasonality of Yen tells us that the pair tends to peak around November-December . Now, if we club this with the current scenario and data, we can expect market to hit 162.000 before New Year 2025 . Is that a necessity? Of course, no. But that is what we expect after reading the market. What does @I_Am_ICT always say? The market does not have to get to where we want it to go, to be profitable. The major concept that I've applied in the whole analysis is Purge and Revert on the monthly timeframe & clubbed it with various other scenarios and timeframes to conclude to this analysis. There are certain levels and imbalances which can be of value and have been marked on the charts attached. One may refer to them for more info. Trading conversations are welcome. PS- It can be expected, looking at the daily and LTFs, that some retracement into discount prices is possible before a rally. Have an insightful trading week ahead! Disclaimer- All content is for educational purposes only and not trading advice.
Long
by SatyajeetSahai
1
EURJPY LONGFOREXCOM:EURJPY Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Long
by Phinics
2
USDJPY: Sellers pay attention to 146.40, Fed Minutes and US CPIEarly Tuesday, USDJPY remains weak after retreating from a seven-week high. The pair defends the previous day’s pullback from the 100-bar Exponential Moving Average (EMA) as traders await key events this week, including the US Federal Reserve’s meeting minutes and September’s Consumer Price Index (CPI). Bulls remain in the driver’s seat Despite the pre-data consolidation and retreat from the 100-EMA, USDJPY's stronghold above the 50-EMA, bullish MACD signals, and a positive RSI (14) suggest an overall upside bias. Important technical levels to watch USDJPY faces immediate downside support in the 147.35-20 range, but the key level to watch is the 50-EMA near 146.40. A break below this could lead to a quick drop to 145.00 and the late September low around 141.65. The 140.45-20 area and the psychological level at 140.00 may pose strong resistance for sellers. On the upside, a break above the 100-EMA around 148.75 won’t be enough for buyers to regain control, as resistance from the 200-EMA and mid-August high near 149.40 will be crucial. If USDJPY stays above 149.40, the 150.00 mark and early 2024 high near 150.90 will be key targets for bulls. Data/events are the key USDJPY's technical outlook is bullish, supported by a hawkish Fed stance following recent comments from FOMC Chair Jerome Powell and the US employment report. However, growing concerns about the Bank of Japan, potential softness in US inflation data, and Powell's challenges in maintaining a hawkish tone could attract sellers to the Yen pair.
by MTradingGlobal
Continued Bullishness in Ascending Channel PatternThe USD/JPY chart is currently tracking a clear bullish channel, with repeated bounces after each minor correction. Having just touched the lower boundary of the channel, the pair has shown signs of recovery, breaking above the nearest resistance level. This makes me confident in the possibility of a continuation of the bullish momentum, especially since the EMAs (34 and 89) are also starting to show an upward crossover, supporting the uptrend.
by Alexander_FXTrading
USDJPY: Recovery remains elusive below 146.30On Tuesday morning, USDJPY gained momentum, continuing its recovery from a support level that had been holding for two months. It’s getting closer to the 200-Exponential Moving Average (EMA) while still within a bearish trend that started in early August. This rise reflects the US Dollar's bounce after Fed Chair Jerome Powell eased expectations for two more 0.50% rate cuts from the Federal Reserve in 2024. However, traders look forward to upcoming US employment data and Japanese reports to see how the market will move. Bulls flex muscles for a long road ahead… In addition to bouncing off the two-month support zone, an upward trend in the RSI (14) and a potential bullish crossover on the MACD are boosting the USDJPY's rise toward the key EMA. However, the ongoing bearish trend channel and differing monetary policies between the Bank of Japan (BoJ) and the US Federal Reserve (Fed) could create challenges for the bulls. Key technical levels to watch… In the short term, the 200-EMA around 144.75 and the upper line of the bearish channel near 146.30 are significant hurdles for USDJPY buyers. If they push past these levels, the pair could rise toward the mid-August high around 149.40 and possibly hit the 150.00 mark. It's important to note that the 152.00 level seems to be the last stronghold for Yen sellers. On the flip side, the horizontal support area between 141.75 and 141.65 offers some stability for USDJPY in the short term, protecting it from a drop toward the monthly low and the bottom of the bearish channel near 139.55 and 138.75. If the pair breaks below 138.75, the mid-2023 low of around 137.20 may serve as the final defense for buyers. The road toward the north appears long and bumpy While technical indicators hint at a potential recovery for USDJPY, the underlying fundamentals pose challenges for a sustained bullish move. Buyers should be cautious before making large investments.
by MTradingGlobal
USD/JPY: Break Through $143.593 or Face a Deep Correction?The USD/JPY chart reveals an intense battle between buyers and sellers as the price hovers around $142.215. The support level at $141.682 acts as the final "shield" against any deeper declines. The current focus is on the key resistance at $143.593. If USD/JPY can break through this level, the path to $146.010 will open, offering a chance to reach new highs. However, if buyers fail to maintain momentum and the price falls below the $141.669 support, the pair may face a strong correction, pushing the market into a high-risk zone. Crucially, major economic news from Japan and unexpected moves from the BoJ will be decisive factors, with the potential to shift the course of this battle at any moment. Will USD/JPY rise to the challenge or retreat under market pressure?
Long
by Romio_pro
1
USDJPY: Bears have strong reasons to regain controlAs Yen traders return from a long weekend, the USDJPY is testing its recent dip from a five-week-old downward resistance line, influenced by a rebound in the US Dollar. It’s worth noting that the quote’s recovery in the last week benefited from positive signals from the RSI and MACD indicators, bouncing back from a nine-month horizontal support zone. Sellers keep the reins While USDJPY buyers are making their presence felt, a bearish RSI divergence and a moving average crossover, combined with the resistance line, keep sellers optimistic about potential downward moves. The 100-day Exponential Moving Average (EMA) has crossed below the 200-EMA, signaling a bearish trend. Additionally, the higher high on the indicator contrasts with the lower high in prices, reinforcing the bearish RSI divergence. Key technical levels to watch Sellers will gain confidence if USDJPY breaks below a seven-week horizontal support area around 141.70-80. However, the lows from December 2023 and September 2024 pose a challenge for bears at 140.20-139.60. If the pair drops below 139.60, it could test the mid-2023 low near 137.30. On the flip side, buyers will initially target the falling resistance line around 144.25. If successful, they may then aim for the monthly high and late August peak near 147.20 and 149.40, respectively. Additionally, the 150.00 level acts as an important barrier for any upward movement. Bulls face more challenges than bears Whether through technical signals or the differing monetary policies of the Bank of Japan (BoJ) and the US Federal Reserve (Fed), USDJPY sellers face a relatively smoother journey compared to buyers.
by MTradingGlobal
USD/JPY: The Battle Between Resistance and SupportUSD/JPY is "battling" around the 143.695 level, with a significant "challenge" at 144.435 and a key "support" at 142.053. The EMA 34 and EMA 89 are acting as "shields" for the current trend. The RSI indicator at 58.71 suggests a balanced market, but a major move could be on the horizon. If the resistance at 144.435 isn't broken, USD/JPY could reverse and pull back towards 142.053. In terms of news: The Japanese Yen has depreciated, possibly due to weak trading conditions during Monday's holiday. BoJ Governor Ueda stated that the central bank will continue adjusting the degree of monetary easing as needed.
by Romio_pro
USD/JPY Braces for a Major Turnaround from the FedUSD/JPY is in a tense phase as it trades at 142.48, close to the key descending resistance line. After failing to break through the 143.569 resistance level, the pair is sliding down, like a car rolling downhill, aiming for 141.269. But is this the final stop? If USD/JPY cannot hold at 141.269, we might witness a further drop, potentially sliding down to the deeper support level at 139.786. With the market heating up ahead of the Fed meeting, uncertainty is on the rise. Traders are holding their breath — will the upcoming Fed meeting provide a push to lift this pair, or will it intensify the downward trend? Get ready for some potential market "shocks"!
Short
by Romio_pro
USDJPY: Sellers remain in driver’s seat despite BoJ’s status quoEarly Friday, USDJPY reverses the previous day’s run-up to the highest level in a fortnight as the Bank of Japan (BoJ) leaves monetary policy unchanged, as expected. Oscillators, technical hurdles push back buyers within falling wedge USDJPY recently reversed from a six-week resistance level, and the RSI is pulling back while the MACD shows signs of a bearish crossover, which keeps sellers optimistic. Additionally, the price remains below the 200-Exponential Moving Average, making it harder for Yen buyers. However, a bullish falling wedge pattern that has formed since early August could encourage buyers. Technical levels to watch The USDJPY pair's drop from a key resistance level, along with weak indicators, suggests sellers will target below 142.00. Key levels to watch are the psychological mark at 140.00 and the monthly low around 139.55. If buyers can’t hold above the falling wedge's bottom near 139.30, the price could drop to the mid-2023 low around 137.20. On the flip side, the 1.5-month-old horizontal resistance area near 143.70-144.00 appears a tough nut to crack for the USDJPY bulls. Following that, the quote’s quick jump toward the stated bullish wedge’s top line around 145.00 can’t be ruled out. If the price stays above 145.00, it could aim for 156.00, but breaking the 200-EMA at 145.30 is essential for that rally. What next? Given the monetary policy divergence between the US Federal Reserve (Fed) and the Bank of Japan (BoJ), as well as the quote’s sustained trading below the key resistances, the USDJPY sellers are likely to have some more days to cheer.
by MTradingGlobal
USD/JPY Under Pressure, Facing Risk of CorrectionUSD/JPY is facing strong downward pressure, hovering around 141.56, with a downward trendline and key resistance at 142.541. The EMA 34 (141.56) and EMA 89 (142.97) are reinforcing the short-term bearish trend. If the price fails to break through this resistance, USD/JPY is likely to correct towards the support area and potentially drop further to 138.37. In terms of news, USD/JPY earlier dropped to 141.00 during the Asian session as the BoJ forecasted a rate hike, contrasting with the Fed's expected easing. This policy divergence places the pair at risk ahead of the Fed event.
Short
by Romio_pro
USD/JPY Under Bearish Pressure, Awaiting Fed DataDuring Tuesday's Asian session, USD/JPY is hovering near the 140.50 level, with key support at 139.570. If the price holds above this level, it could see a recovery towards the resistance at 141.007. EMA 34 and EMA 89 indicators are reinforcing the bearish pressure, positioned at 141.592 and 143.189, respectively. If USD/JPY breaks above the resistance at 141.007, the next target could be 142.896. The RSI is currently at 39.74, indicating that selling pressure remains dominant.
Long
by Romio_pro
USD/JPY Falls Below 141.00 Due to Fed-BoJ Policy DivergenceUSDJPY is in a downtrend, trading around 140.908 after breaking the support level at 140.500. The EMA 34 and 89 lines indicate that selling pressure remains dominant. If the price rebounds from this support, the short-term target will be 142.307. Otherwise, if the support breaks, the price may drop to 139.175. Regarding news: USD/JPY continued to weaken below 141.00 in Friday's Asian session, driven by the policy divergence between the Fed and BoJ, which supported the Yen. Attention now shifts to U.S. sentiment data.
Short
by Romio_pro
USDJPY Faces a Downtrend with Target at 135.492The USDJPY chart is showing a strong downtrend after reaching a peak in July. Currently, the price is trading around 142.67 with a clear descending wedge pattern forming. Strong resistance lies at 147.537, while the projected downside target is 135.492. The EMA 34 and EMA 89 both indicate a downward trend, confirming selling pressure. In terms of news, U.S. economic factors, especially the CPI report, are having a significant impact on the USD. If inflation decreases, the USD may weaken, allowing USDJPY to continue its downtrend toward lower levels.
Short
by Romio_pro
1
USDJPY Ranging 142-144 Ahead of U.S. CPIOn the 3-hour timeframe of the USDJPY pair, the price is moving within a range between the support level of 142 and the resistance level near 144. Closest support: 142. This is a key support level, and if it breaks, a sharp decline to lower levels could follow. Key resistance: 144. If the price surpasses this level, a short-term bullish trend may be triggered. Traders can sell when the price touches the 143 resistance or breaks the 142 support, targeting the lower support levels of 142.500 and 141.800. Investors are awaiting tomorrow's U.S. CPI report. A higher-than-expected CPI could boost the USD, aiding USDJPY recovery, while a lower CPI would pressure the USD, causing further declines in USDJPY.
Short
by Romio_pro
USDJPY Tests 143 USD Resistance, Sell Opportunity AheadThe market is influenced by the monetary policies of the Bank of Japan and the Fed, along with U.S. interest rate updates and global economic conditions, continuing to cause volatility for this currency pair. On the 4-hour USDJPY chart, the price is trending downwards, moving below both the EMA and SMA 20, signaling strong selling pressure. The resistance near 143 USD has been tested several times but remains unbroken, indicating strong selling forces at this level. If the price fails to break the 143 USD resistance, USDJPY is likely to continue its downward movement, heading toward the 140 USD level. This could present a potential selling opportunity if the downtrend persists.
Short
by Romio_pro