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USDJPY

USDJPY grinds within immediate range amid holiday-shortened weekUSDJPY registered the first weekly loss in three amid mixed concerns about the Bank of Japan’s (BoJ) next move, especially when the policymakers hesitated to stick to the hawkish plan after the first rate hike in 17 years. However, the broad US Dollar strength and an upbeat performance of the yields put a floor under the prices. Apart from the mixed fundamentals, the Yen pair’s inability to break the seven-week-old horizontal support zone surrounding 150.75-90, as well as cross an upward-sloping resistance line stretched from March 20, close to the 152.00 threshold, restrict short-term moves of the pair. It’s worth noting, however, that the quote’s sustained trading beyond the 100 and 200 SMA join steady oscillators to keep the buyers hopeful. That said, an upside clearance of the 152.00 immediate resistance could quickly propel the prices toward a three-week-old support-turned-resistance, around 152.90. Following that, the June 1990 high of 155.80 will be in the spotlight. On the contrary, a downside break of the seven-week-old horizontal support of 150.75-90 will direct the USDJPY sellers toward the 200 and 100 SMA levels, respectively near 150.00 and 149.75 at the latest. In a case where the Yen pair sellers keep the reins past 149.75, the March 18 swing high of 149.30 and the 149.00 round figure will act as the final defense of the buyers before directing the sellers toward the previous monthly high of near 146.50. Overall, the mixed catalysts join the Easter Monday holiday in major markets and a light calendar to restrict the USDJPY pair’s moves. However, the quote remains on the bull’s radar.
by MTradingGlobal
USDJPY : Continues to move sideways above the high price range !The USDJPY pair continues to trade quietly and seemingly stagnant at record highs, lacking upward momentum. The prevailing trend favors a sideways movement despite signals from the EMA 34 and 89 continuing to support an upward bias. From a technical standpoint, any further price increase may encounter strong resistance and remain limited near the 152.00 level. The mentioned barrier will act as a key pivot point, and if decisively broken, it would be considered a new catalyst for bullish traders. With oscillators on the daily chart holding in positive territory, the USD/JPY pair could extend the well-established uptrend since January 2023 and climb further towards the psychological level of 153.00. On the other hand, the overnight low volatility around the 151.00 level seems to be protecting the immediate downside. Any further decline is likely to attract new buyers and still be limited near the support area of 150.25. Keeping an eye on the psychological level of 150.00, a decisive break below it could potentially accelerate the downward correction process for the USD/JPY pair towards the region of 149.35-149.30 en route to the round number of 149.00.
by RKarina
USDJPY: Price continues to stand still!Today, USDJPY concluded its trading activities around the level of 151.35, with little change due to continued subdued trading throughout the past week. The strength of the US dollar, reinforced by hawkish statements from Fed officials, has not yet provided enough motivation for a significant increase in this currency pair. In the short term, the trend remains uncertain as USDJPY moves steadily within a range. The EMA lines also do not indicate a clear trend direction, so we will wait for a breakout from the current pattern to determine a more strategic and secure entry point!
by RKarina
USDJPY: The direction of movement is difficult to predict!"Hello dear traders! Today, it seems that USDJPY is frozen in time, hovering unchanged as it looks up at the peak around 151.700, a record high it has recently reached. Market pundits are taking a cautious stance towards USD/JPY, predicting that a Fed interest rate cut is not just a possibility but an inevitability; it's a question of 'when' rather than 'if'. Meanwhile, growing consensus suggests that the Bank of Japan (BoJ) may soon start adjusting its own interest rates. It's a quiet trading day today as we await new market signals. Stay tuned and trade wisely!" Let me know if this vividly paints the current market landscape for you!
by RKarina
USDJPY- Bears continue to prevail!Hello everyone, it's RKarina here again! Currently, USD/JPY continues to consolidate below the 151.50 level in the Asian trading session on Tuesday. Concerns about the Japanese government's potential intervention to strengthen the Yen are dampening the upward momentum, coupled with the overall weakness of the US Dollar, which is limiting the strong upside potential for this currency pair. With this scenario and technical outlook, the bearish camp seems to have the upper hand at this stage. The upward trend has gradually cooled off and shifted into a sideways movement. In the short and medium term, selling remains a preferred strategy, targeting two potential price levels for a decline.
Short
by RKarina
USDJPY : Price increases continue under limited regime!Hello dear friends, let's discuss and devise our strategy for the new day together! USD/JPY is witnessing a decline, fluctuating near the 151.00 level, as the Japanese Yen faces significant buying pressure amidst concerns about Japan's potential forex intervention, especially after this exchange rate reached a new high since the beginning of the year at 151.86 last Friday. Minutes from the Bank of Japan's meeting in January further weakened the USD/JPY pair. From a technical perspective, if USD/JPY continues to trade below the marked resistance level, it may still face pressure and potentially decline further.
Short
by RKarina
USDJPY eases from key resistance, focus on US, Japan inflationUSDJPY remains pressured towards 151.00 while keeping the previous day’s U-turn from a five-month-old horizontal resistance zone amid Monday’s sluggish Asian session. In doing so, the Yen pair justifies the RSI (14) line’s divergence with the latest high in prices. However, the bullish MACD signals and the quote’s successful trading above the resistance-turned-support line stretched from mid-November 2023, close to 150.30 by the press time, challenge the pair sellers. Even if the quote drops below 150.30, the 150.00 psychological magnet and January’s high of 148.80 will test the bears before directing them toward the 200-SMA support of 146.70. On the contrary, the USDJPY pair buyers need to provide a daily closing beyond the multiple tops marked since October 2023 near the 151.90-70 region to retake control. Even so, the year 2022 peak of around 151.95 and the 152.00 threshold will challenge the Yen pair buyers before directing prices toward the tops marked in 1990 around 155.80 and 160.40. In doing so, the quote will also need to jostle with the 160.00 round figure. Apart from the multiple hurdles toward the north, the US Core PCE Price Index and Japan’s Tokyo CPI also act as the key challenges for the pair buyers to tackle to keep the reins. Overall, the USDJPY buyers need strong catalysts to defend the latest run-up.
by MTradingGlobal
USDJPY: Sell now?Hello dear friends, are you curious about the direction of USDJPY today? At the beginning of Friday, the USDJPY pair showed a slight decline, pausing its strong upward momentum when encountering resistance near the record high level. The Japanese Yen strengthened after the release of Japan's consumer inflation data. Uncertainty about the future policy steps of the Bank of Japan could hinder further price increases. The modest decline of the US Dollar is causing some pressure, although weaknesses are somewhat contained. Looking ahead: Technical analysis charts indicate the formation of a double top pattern. In this scenario, the SELL strategy will be prioritized, targeting 150.70 and then 149.21 respectively.
Short
by RKarina
1
USDJPY : Gentle adjustment!What are your opinions on the USDJPY currency pair? The value of USD/JPY has surged to its highest level in several years, reaching 151.000 as the Japanese yen weakens and the US dollar strengthens. This turnaround at such levels is believed to be a result of possible intervention by the Bank of Japan (BoJ). According to MUFG analysts, a yen weaker than 150.000 becomes uncomfortably weak for the BoJ, which could prompt intervention by using its foreign currency reserves to purchase yen. There is still potential for USDJPY to continue rising, with the possibility of "breaking through the peak of 151.75 if the support around 150.500 remains firmly defended."
Long
by RKarina
4
USDJPY: still rising strongly!Hello everyone, are you curious about the upcoming trend of USDJPY? USD/JPY hit a year-to-date high near 151.50 early Wednesday, as the Japanese yen fell to a multi-month low following the BoJ's mild interest rate hike on Tuesday. Fed hawkish expectations will strengthen the dollar and further support USD/JPY. If the pair is breached and successfully clears above the record high of 151.889, the bulls will have more opportunities to push the price to the first level of ignorance at the 1.618 mark of the Fibonacci extension in the theory of DOW theory
Long
by RKarina
USDJPY: New support support!Hello everyone, today USDJPY continues its recovery streak and is fluctuating around the 147.65 level after receiving some price-boosting momentum from yesterday evening when the USD rebounded and started to recover. The currency pair has formed a new support level around the 146.75 region. The Japanese Yen (JPY) has struggled to capitalize on modest gains during the day and has declined for the third consecutive day. Therefore, given this situation, we can still expect further price increases for USDJPY. The two main targets as well as the resistance levels that this currency pair needs to overcome in order to continue its upward movement are 148.65 and 149.35 respectively.
Long
by RKarina
USDJPY jumps 100 pips even as BoJ exits negative-rate policyUSDJPY refreshes a two-week high during a six-day uptrend even as the Bank of Japan (BoJ) takes a historical decision to end the Negative Interest Rate Policy (NIRP), as well as the Yield Curve Control (YCC). It’s worth noting, however, that such a move was widely anticipated and hence, a “sell the fact” reaction appeared on the chart. However, a three-week-old falling resistance line surrounding the 150.00 psychological magnet and the overbought RSI (14) conditions seem to challenge the Yen pair buyers. Even if the quote manages to cross the 150.00 hurdle, a slightly downward-sloping trend line from mid-February, near 150.80 at the latest, quickly followed by the 151.00 round figure, will challenge the bulls afterward. Meanwhile, the USDJPY pair’s pullback appears widely expected and hence the short-term sellers can aim for the 149.20-15 support confluence comprising the 100 and 200 SMAs. However, a one-week-old rising support line surrounding 148.85 could test the Yen pair sellers afterward. In a case where the bears keep the reins past 148.85, the February 07 swing low of around 147.60 and the current monthly bottom of 146.48 will be in the spotlight. Overall, the USDJPY pair’s immediate reaction to the BoJ’s decision appears less logical and is likely to be reversed. However, Wednesday’s Federal Reserve (Fed) monetary policy decision will be the key in determining the same.
by MTradingGlobal
USDJPY Strategy: Navigating Economic Data & Market Trends Welcome to our daily strategy session, where we dive into the current dynamics of USDJPY and outline potential moves for today! USDJPY is currently retreating, having found support amid a bullish sentiment around the 146.50-146.30 region. However, the plot thickens. Uncertainty surrounding the Bank of Japan's (BoJ) policy moves and a renewed appetite for the US dollar are injecting optimism into this currency pair. Yet, an upcoming slew of significant US economic data could introduce unpredictable price volatility. Today, the market anticipates retail sales figures. A positive outcome would underscore strong consumer spending, potentially reinforcing the belief that the Federal Reserve (Fed) will maintain steady interest rates in the first half of the year. This could further bolster the USD against the JPY. Looking at the daily chart, USDJPY appears to be encountering a price reaction around the 0.5 and 0.618 Fibonacci levels. I remain optimistic that USD/JPY will exhibit a similar response, especially as a detailed analysis reveals that the pair is facing resistance from a head and shoulders pattern, accompanied by a declining handle. Therefore, breaking through the psychological support level of 146.00 could pave the way for lower prices. It is anticipated that USDJPY will decline after reaching the 148.69-148.17 range and testing the 34.89 EMA line. Should USDJPY draw strength from this support level, we might witness a bullish rebound. However, price consolidation below this mark would indicate that the market is gearing up for a deeper decline.
Short
by RKarina
USDJPY probes four-day losing streak despite upbeat Japan GDPUSDJPY seesaws at the lowest level in five weeks as bulls and bears jostle after the biggest weekly loss in eight months. In doing so, the Yen pair fails to justify better-than-previous Japanese GDP while challenging the four-day losing streak. That said, the oversold RSI (14) conditions and the 200-SMA support of near 146.30-25 also challenge the quote’s further downside. Following that, the mid-2023 peak of around 145.00 could act as an intermediate halt before directing the bears toward the late 2023 bottom of 140.25. Meanwhile, the USDJPY pair’s rebound needs validation from the 100-SMA level of 147.60, as well as the support-turned-resistance line stretched from early January, close to 148.80 at the latest. However, the 150.00 threshold and multiple tops surrounding 151.00 could check the Yen pair buyers afterward. Also acting as the upside filter is the previous yearly high of 151.90 and a one-year-old previous support line, now resistance around 152.80. Overall, the USDJPY pair’s sustained trading beneath the key technical supports, now resistances, join the bearish MACD signals to keep sellers hopeful. However, the oversold RSI and nearness to the 200-SMA might challenge the quote’s short-term downside.
by MTradingGlobal
USDJPY: Downward pressure remainsHello dear friends, as expected, our USDJPY pair has declined to the support level at 147.84 and is showing signs of consolidation. In this case, a cup pattern is also forming, and a corrective rally may occur, although it is unlikely to last long as the market is still anticipating an interest rate cut in the near future, which would weaken the USD and limit the recovery of USDJPY. The expected price decline will continue if it reaches the 0.5 - 0.618 Fibonacci level (around 148.700). The target for sellers this time is 146.34. Wishing you happy and successful trading.
Short
by RKarina
USDPJY: Still under heavy downward pressure!Hello dear friends, what do you think about USDJPY? In contrast to its counterparts such as EURUSD and GBPUSD, USDJPY continues to bear the heavy pressure of depreciation, with prices weakening further on Thursday. Currently, this currency pair is trading at the level of 148.50, experiencing a loss of 0.56% for the day. This currency pair continues to face difficulties as the US Dollar weakens amid market expectations of a rate cut by the Federal Reserve in their June policy meeting, which is escalating. Looking at the prospects from a technical analysis perspective: This currency pair is on its way to find support at the level of 148.10, and prices may recover from this point. However, the recovery may not last long as the EMA 34 signal has started to reverse and USDJPY has broken through the strong support level at 149.700.
Short
by RKarina
1
USDJPY bulls struggle but bears need validation from 149.00USDJPY reverses the first weekly loss in five while printing mild gains around 150.50 early Tuesday. In doing so, the Yen pair seesaws near a three-week-old horizontal resistance surrounding 150.90-151.00. It’s worth noting that the lackluster RSI and sluggish MACD signals suggest further grinding of the quote below the stated key resistance. The bearish momentum, however, appears less likely until the prices stay beyond a convergence of the 200-SMA and a two-month-long rising support line, close to 149.00. Apart from the 149.00 support confluence, January’s high of near 148.80 will also try to challenge the Yen pair sellers before giving them control. Meanwhile, an upside break of the 150.90-151.00 resistance region will allow the USDJPY buyers to aim for the double tops marked during late 2022 and 2023 near 152.00. It should be observed that the Yen pair’s run-up beyond the 152.00 hurdle highlights the 160.00 psychological magnet and the year 1990 peak of around 160.40 for the bulls. In that case, the overbought RSI line and likely adjustments in the Bank of Japan’s (BoJ) monetary policy will challenge the pair’s further upside. Overall, the USDJPY pair’s upside momentum runs out of steam but the bearish move is yet to gain acceptance and hence needs validation from the key support of near 149.00, as well as the US/Japan fundamental catalysts scheduled for publishing during this week.
by MTradingGlobal
USDJPY: SELL OR BUY?Hello dear friends! Today, USDJPY continues to be limited below the resistance level of 150.750 in the early trading hours of the new week. This currency pair is declining due to the decrease in US Treasury bond yields, amid cautiousness and concerns about inflation data in the United States. However, the recent appreciation of the US dollar may limit the downside of USD/JPY as long as the support level of 149.700 is well maintained, thus the possibility of a recovery for USDJPY is still considered high.
by RKarina
USDJPY bulls lack momentum as US, Japan inflation clues loomUSDJPY rose in the last four consecutive weeks even if the US Dollar Index (DXY) snapped a five-week uptrend, amid an increase in the near-term US Treasury bond yields and chatters about a delay in the Bank of Japan’s (BoJ) delay in ending the ultra lose monetary policy. It’s worth noting, however, that the technical signals are against the Yen pair buyers as the nearly overbought RSI (14) line joins the bearish MACD conditions. Also challenging the upside momentum is the quote’s retreat from a week-old horizontal resistance around 150.80. Even if the pair crosses the immediate upside hurdle, he previous yearly high of 151.90 and an ascending resistance line from late December 2023, forming part of a rising wedge bearish chart formation near 153.80, will be tough nuts to crack for the bulls. On the contrary, the USDJPY pair’s pullback remains elusive unless the price stays above the lower line of a 10-week-old rising wedge bearish chart formation’s bottom line, close to 149.80 at the latest. Following that, a quick fall to January’s top surrounding 148.80 can’t be ruled out. However, the 100-bar and 200-bar Exponential Moving Averages (EMAs) will test the Yen pair bears near 147.10 and 145.00 respectively before directing the quote toward the theoretical target of the rising wedge confirmation, namely around 139.40. It should be It should be observed that the 140.00 threshold and the mid-2023 swing low of near 137.25 act as additional downside filters to watch. Overall, the USDJPY pair lacks upside momentum but the bears need confirmation from the short-term rising wedge chart formation before taking control. Also important are the initial inflation clues from Japan and the US.
by MTradingGlobal