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USDJPY

USDJPY eases within the bullish channel, sellers await 159 breakUSDJPY defends the previous day’s retreat from a two-month high as traders await Tuesday’s US Confederation Board’s (CB) Consumer Confidence figures for June. In doing so, the Yen pair remains mildly offered between the upper line of a seven-week-old rising trend channel and an upward-sloping previous resistance line stretched from early May. It’s worth noting, however, that the RSI’s pullback from the overbought territory joins a receding bullish power of the MACD signals to suggest further declines of the quote. The same highlights the aforementioned resistance-turned-support line surrounding 159.00 as a break of which will welcome sellers targeting a two-month-old horizontal support zone surrounding 157.90-70. However, the bears should remain cautious unless witnessing a daily closing beneath the 156.30 support confluence comprising the 50-SMA and bottom line of the previously stated bullish trend channel. Following that, the quote’s weakness toward the monthly low of 154.52 can’t be ruled out. On the contrary, USDJPY bulls should wait for a clear rejection of the bullish trend channel by providing a daily closing beyond 160.00. Even so, the yearly high of 160.20 and the 1990 peak surrounding 160.40 will join the overbought RSI conditions to challenge the buyers before directing them to the 161.00 round figure. If the Yen pair remains firmer past 161.00, the late 1986 peak of around 163.95 and 164.00 will be on the buyer’s radar. Overall, USDJPY remains in the bullish trajectory despite the likelihood of a short-term pullback in the prices.
by MTradingGlobal
USDJPY: Outlook is still bullish!USD/JPY is trading near 159.00 early Friday, below its highest level since April. Japan's verbal intervention provides support for the Japanese Yen amid BoJ uncertainty over interest rate hikes and mixed national CPI data. US Dollar recovery slows ahead of key PMI data. From a purely technical standpoint, the trend is bullish across all timeframes and with the saying that “the trend is your friend” it is more likely to continue higher. USD/JPY is currently trading at 158.50 as it continues to rise in the ascending channel.
by HamedMarkets
USDJPY pokes key resistance amid mixed market, light calendarUSDJPY struggles to defend a two-day winning streak and the weekly gains while jostling with a seven-week-old symmetrical triangle’s resistance line early Monday. In doing so, the Yen pair also prints an inability to cross a broad resistance zone comprising tops marked since late April, around 158.00-158.50. However, the quote’s sustained trading beyond the 200-bat Exponential Moving Average (EMA) and the upbeat RSI (14) line keep buyers hopeful beyond witnessing a clear downside break of 156.00. Even so, the aforementioned triangle’s bottom line and an upward-sloping trend line support from late March, respectively near 155.60 and 153.40, will act as the final defense of the bulls before giving control to the bears. Meanwhile, fresh buying in the USDJPY pair will gain momentum beyond 158.50, which in turn could direct buyers toward the 160.00 psychological magnet. However, the latest multi-year peak of 160.20 and the year 1990’s high of near 160.40 could poke the Yen pair buyers afterward. If the quote remains firmer past 160.40, the odds of witnessing a gradual run-up toward the late 1986 peak of 164.50 and then to the 1978 low of 177.00 can’t be ruled out. Overall, the USDJPY remains in a bullish trajectory despite recent inaction.
by MTradingGlobal
USDJPY approaches key upside hurdle as Fed, BoJ week beginsUSDJPY extends Friday’s recovery from the 50-SMA while rising toward a six-week-old descending resistance ahead as the week comprising monetary policy announcements from the US Federal Reserve (Fed) and the Bank of Japan (BoJ) begins with mixed sentiment. It’s worth noting that the Yen pair’s sustained trading above the 50-SMA joins the upbeat RSI (14) and an impending bull cross on the MACD to underpin upside bias. However, a clear break of the aforementioned resistance line close to 157.55 by the press time, becomes necessary to convince buyers. Following that, 158.00, 158.40 and the 160.00 round figure will test the buyers. In a case where the bulls keep the reins past 160.00, the year 1990’s peak of 160.40 will be the final defense of the bears. Meanwhile, the 23.6% Fibonacci ratio of the USDJPY pair’s December 2023 to April 2024 upside, near 155.50, will precede the 50-SMA support of 155.10 and the 155.00 round figure to limit the short-term downside. Should the quote remain bearish past 155.50, an upward-sloping support line from late March, around 153.25 at the latest, will be the key support to watch. It should be observed that a daily close beneath 153.25, as well as a sustained trading beneath the 153.00 threshold, will make the Yen pair vulnerable enough to slump toward the multiple tops marked during late March and early April, near the sub-152.00 region. Overall, the USDJPY remains in the bullish mode as the key week begins.
by MTradingGlobal
USDJPY May 27, 2024 Has the price started to rise?Looking at the H1 chart we see that the price is in wave 4 - Wave 4 target at price range 156.55 - Then the price continues wave 5 with wave targets at 157.4 and 157.83 We watch to buy at 156.55 after the candlestick reversal signal appears Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
Long
by DEEKOP
USDJPY retreats within rising wedge on US holidayUSDJPY snaps a three-day winning streak early Monday even as markets lack momentum amid holidays in the US and the UK. In doing so, the Yen pair pares the previous weekly gains as mixed concerns about the Bank of Japan’s (BoJ) next move join a cautious mood ahead of this week’s key inflation clues from Japan and the US. It should be observed that the USDJPY pair’s latest pullback takes place from the resistance line of a three-week-old rising wedge bearish chart pattern. The retreat also gained support from the RSI (14) line’s fall from the overbought territory and the bearish MACD signals, which in turn suggests a continuation of the quote’s latest declines toward the 156.00 threshold. However, a convergence of the stated wedge’s bottom line and the 200-SMA, near the 155.25-15 region, closely followed by the 155.00 round figure, will be strong support for the bears to conquer before taking control. Should the pair remain weak past 155.00, a five-week-old rising support line near 152.6 and the monthly low of near 151.85 will be in the spotlight. Meanwhile, the USDJPY pair’s fresh recovery needs a clear rejection of the rising wedge bearish chart pattern by crossing the 157.30 immediate hurdle. Even so, the monthly high near 158.00, the 160.00 threshold, and the recent peak of near 160.20, as well as the year 1990 top surrounding 160.40, will offer intermediate halts during the quote’s further run-up. Overall, USDJPY is likely to witness a pullback in prices but the downside remains elusive beyond 155.00.
by MTradingGlobal
USDJPY May 22, 2024 Will the rising wave continue?Hello everyone, DEEKOP is ready to bring the most accurate signals and assessments to everyone. Financial freedom is true freedom. Looking at the H1 chart with the current wave counting method we see The correction process has formed 3 waves abc - Currently, the price continues to increase following the trend of large wave 3 - We have the main confirmation threshold at 156,554, this is the confirmation area that the temporary adjustment process has ended. - Once the price maintains above the 156.554 area, the price will develop very quickly because wave 3 moves quickly and sharply. Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
Long
by DEEKOP
USDJPY confirms inverse head & shoulders during four-day uptrendUSDJPY rises to the highest level in a week while crossing a downward-sloping resistance line from late April, now immediate support near 156.10, amid a four-day winning streak early Tuesday. In doing so, the Yen pair confirms an inverse head and shoulders bullish chart pattern by extending the previous week’s rebound from the 200-SMA. It’s worth noting that the bullish MACD signals and an upward-sloping RSI (14) line, not overbought, also keep the pair buyers hopeful. With this, the quote approaches the mid-month peak surrounding 156.80 before challenging the monthly high of around 158.00. Following that, the 160.00 threshold, the yearly high of 160.20 and the year 1990 top of 160.40 can test the bulls during their run-up toward the theoretical target of the aforementioned inverse head and shoulders bullish formation, namely 162.50. Meanwhile, the USDJPY pair’s retreat remains elusive unless breaking the neckline of the stated bullish chart formation, close to 156.10. In a case where the Yen pair drops beneath the 156.10 resistance-turned-support, it will defy the inverse head and shoulders and can quickly revisit the 200-SMA support of near 154.60. It should be observed, however, that the bullish bias remains intact as far as the pair stays beyond a two-month-old ascending support line, near 152.45 as we write. Overall, the USDJPY pair braces for a fresh record high while confirming a bullish chart formation. Any pullback, backed by the downbeat US data and softer yields, remains unimportant until the pair exceeds 152.45.
by MTradingGlobal
USDJPY May 20, 2024 Is this price increase over?Hello everyone, DEEKOP is ready to bring the most accurate signals and assessments to everyone. Financial freedom is true freedom. Based on the Elliot wave principle, we analyze the H1 chart We see that the 5-wave small structure has completed on the H1 frame after which the price entered the corrective wave abc. - Looking at this correction structure, we see that wave a b c has completed, the price is in the stage of completing the next rising wave. - The adjustment process is officially determined when the price breaks out through the 155.98 area - In the trading plan, we expect a good buying zone at the price range of 155.6 with TP at the 159 zone. Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
Long
by DEEKOP
USDJPY week 3, May 2024 Can the uptrend last long?Hello everyone, DEEKOP is ready to bring the most accurate signals and assessments to everyone. Financial freedom is true freedom. With the BOJ's intervention becoming increasingly clear, people are expecting the BOJ to increase interest rates 3 times this year and will begin the first increase in June. We use the Elliot principle to analyze the USDJPY chart We see both the big wave level in purple and the small wave level in blue, meaning the price is completing wave 5. Deekop measured the expected goal of completing wave 5 in two price ranges, the price range 159.2 and the price range 164.3. At these price zones, there may be a reversal zone, then the USDJPY price will enter the ABC correction wave. This is my plan for next week, the order entry area will be updated daily based on market fluctuations next week. Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
by DEEKOP
USDJPY : Forming lower highs!USD/JPY edged lower on Wednesday, slipping back to the 153.00 level after a broad-based decline in the US Dollar (USD) shed weight against all of its major peers. The Japanese Yen (JPY) is also looking to ease selling pressure in the broad market, recovering ground as the Greenback declines. US Consumer Price Index (CPI) inflation eased slightly on Wednesday, with headline CPI inflation in April falling to 0.3% versus market forecasts of holding at 0.4%. Easing inflationary pressures are raising hopes of a rate cut as investors call for a rate cut from the Federal Reserve (Fed).
Short
by RKarina
USDJPY pokes key resistance, US inflation, Japan's GDP eyedUSDJPY jostles with a fortnight-old horizontal resistance as buyers turn cautious ahead of this week’s US inflation and the first readings of Japan’s Q1 2024 GDP. In doing so, the Yen pair struggles to extend the previous week’s recovery from the 50-SMA. That said, the near-50 RSI levels join the receding strength of the bearish MACD signals to suggest a continuation of the quote’s latest rebound within the bullish trend channel comprising levels marked since late 2023. It’s worth noting, however, that a clear upside break of the immediate 155.20-156.00 resistance zone becomes necessary for the bulls to retake control. In that case, the upper line of the previously stated bullish channel, close to 159.00 by the press time, will precede the 160.00 psychological magnet and the year 1990’s peak of 160.40 to lure the buyers. Meanwhile, softer US inflation and upbeat Japan growth numbers could trigger the USDJPY pair’s retreat toward the mid-April swing highs around 154.80. However, the 50-SMA and the aforementioned bullish channel’s bottom line, respectively near 152.50 and 152.00, could challenge the Yen pair sellers afterward. In a case where the quote remains bearish past 152.00, the 150.00 threshold will act as the final defense of the buyers. Overall, the USDJPY pair remains bullish, despite the latest inaction, but the upside room remains limited.
by MTradingGlobal
USDJPY rebound appears elusive below 155.70USDJPY bounces off a one-month low to snap a three-day winning streak early Monday. In doing so, the Yen pair takes a U-turn from the 61.8% Fibonacci ratio of its March-April upside amid a nearly oversold RSI. Given the receding bearish strength of the MACD signals and the quote’s rebound from the key Fibonacci ratio, as well as the RSI (14) line’s recovery from the oversold territory, the latest run-up in price is likely to prevail for a bit. The same highlights the 38.2% Fibonacci retracement level of 155.00 for short-term buyers. However, a convergence of the 50-SMA, a two-month-old previous support line, and a downward-sloping resistance line from April 29, around 155.60-70, appears a tough nut to crack for the bulls. Following that, the pair’s gradual rise toward the monthly high of nearly 158.00 and then to the recent multi-year peak surrounding 160.00 can’t be ruled out. Meanwhile, the 200-SMA and 50% Fibonacci ratio put a short-term floor under the USDJPY pair at around 153.30. In a case where the sellers keep control past the 153.30 support confluence, the Yen pair bears could again jostle with the 61.8% Fibonacci ratio surrounding 151.70, also known as the Golden Fibonacci ratio. It’s worth noting, however, that the quote’s weakness past 151.70 will make it vulnerable to revisit the lows marked in March near 146.50. During the fall, the 150.00 threshold and the 78.6% Fibonacci ratio around 149.40 can act as intermediate halts. USDJPY is likely to extend the latest corrective bounce, especially amid the Japanese holiday, but the upside room appears limited.
by MTradingGlobal
USDJPY reverses pullback from 34-year high on mixed Japan dataA mixed bag of Japan statistics triggered the USDJPY pair’s fresh run-up early Tuesday. In doing so, the Yen pair justifies mostly downbeat employment and activity data from the Asian major while reversing the previous day’s retreat from the highest level since 1990. Also favoring the upside bias are the bullish MACD signals and the quote’s U-turn from a seven-week-old rising support line, close to 154.70 by the press time. With this, the risk-barometer pair is likely approaching the 160.00 threshold. However, the overbought RSI conditions could challenge the buyers around the recent multi-year peak of 160.20. Even if the pair remains firmer past 160.20, the year 1990’s high of 160.40 and an upward-sloping resistance line stretched from late June 2023, around 161.60 at the latest, can prod the bulls. On the contrary, USDJPY sellers need validation from the aforementioned support line from early March surrounding 154.70, as well as FOMC and the US NFP, to retake control even for a short term. Following that, an 18-month-old previous resistance line near 151.75 and the bottom line of a 10-month-long rising wedge bearish chart pattern, around 150.80, will be in the spotlight. In a case where the Yen pair remains bearish past 150.80, the 150.00 psychological magnet and the 200-SMA level of 148.20 will act as the final defense of the buyers. Overall, the USDJPY pair remains bullish but the upside room appears limited as traders await this week’s key data/events, namely the monetary policy announcements from the Federal Open Market Committee (FOMC) and the monthly US employment report.
by MTradingGlobal
USDJPY: Continuing uptrend!Hello everyone, what are your thoughts on the recent developments in USDJPY? Currently, the USD/JPY pair is showing a significant upward trend due to a substantial interest rate differential between the United States and Japan. With the Federal Reserve setting the Federal Fund Rate at 5.25%-5.50% and the Bank of Japan maintaining near-zero interest rates at 0.0%-0.1%, the USD holds a clear advantage in attracting investment compared to the JPY. This continues to support the upward trajectory of USD/JPY.
Long
by RKarina
USDJPY refreshes 34-year high on BoJ’s dovish haltUSDJPY prints a three-day winning streak while rising to a fresh high since 1990 as it justifies the Bank of Japan’s (BoJ) dovish halt. That said, the BoJ kept its benchmark rates unchanged, as expected, but omitted the mention of bond buying operations which were anticipated to suggest the Japanese central bank’s hawkish turn. With this, the Yen pair pokes an upward-sloping resistance line stretched from early December, around 155.90 at the latest. Given the overbought RSI conditions and the recently easing bullish bias of the MACD, the quote is likely to witness a pullback, which in turn highlights the 155.00 threshold and the mid-month peak surrounding 154.80. However, the bottom line of a six-week-old rising wedge bearish chart formation, close to 154.20 as we write, will be the key to watch for the seller’s entry. In a case where the pair remains weak past 154.20, a six-month-old horizontal support line near 151.70 will precede an area comprising multiple levels marked since early February, around 150.90-80, to challenge the pair bears. Above all, the USDJPY pair buyers should remain hopeful unless witnessing a daily closing beneath an ascending trend line from late December 2023, near 150.30 at the latest. On the contrary, a successful upside break of the aforementioned multi-month-old resistance line surrounding 155.90 will need validation from the top line of a short-term rising wedge bearish chart formation, near 156.10. Should the USDJPY pair buyers ignore overbought RSI and keep the reins past 156.10, the odds of witnessing a gradual run-up toward the 160.00 psychological magnet and then to the year 1990 peak of 160.40 can’t be ruled out. Overall, the USDJPY pair remains bullish beyond 150.30 but a short-term pullback appears overdue.
by MTradingGlobal
USDJPY todayThe USDJPY currency pair continued its impressive upward streak, breaking the 152,100 resistance and climbing to a new high of 154,900. This upward momentum is reinforced by strong technical indicators, forecasting an optimistic future. Careful analysis using the Fibonacci tool shows that this trend is not just random but can continue to 163,450, our first take profit point at the 1,618 Fibonacci level, consistent with the Dow Theory of Market trend. What an exciting journey! What are you planning now that USDJPY is on the rise? Please share your thoughts!
Long
by RKarina
USDJPY: Target at 155,500USD/JPY is experiencing a slight decline, trading around 154.65 in the early hours of Wednesday's Asian trading session. The strong US economy and inflationary challenges have sparked speculation that the Federal Reserve may postpone the start of its tapering cycle to September instead of June, providing support for the US dollar. From a technical perspective, the recent breakthrough of the key resistance level near 152.00 and the subsequent upward trend is seen as a new opportunity for trend-following traders. Following that are overnight fluctuations around the 153.00 level. Any significant decline below 154.00 could attract new buyers, potentially targeting the next area around 155.50.
Long
by RKarina