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USDJPY

USDJPY bulls struggle within rising wedge, focus on 147.30USDJPY stays defensive at an 11-month high, losing upside momentum after a three-week winning streak, as market players await this week’s key Japan inflation data, as well as the US Durable Goods Orders. Also, sluggish RSI (14) line and MACD signals add restrictions to moves and challenge the Yen pair buyers. Furthermore, a rising wedge bearish chart formation comprising levels marked since early August also keeps the pair sellers hopeful. However, a convergence of the 100-SMA and the stated wedge’s bottom line, close to 147.30 at the latest, becomes necessary for the sellers to retake control. Even so, the 200-SMA and the monthly low, respectively around 146.40 and 144.45, may test the buyers ahead of highlighting the rising wedge’s theoretical target of 140.30 and 140.00. On the contrary, the latest high of around 148.50 guards the immediate upside of the USDJPY pair ahead of the stated wedge’s top line of around 149.00. In a case where the Yen pair remains firmer past 149.00, the 150.00 round figure and the previous yearly high of around 152.00 could lure the pair buyers. Following that, the June 1990 peak of around 155.80 will act as the last defense of the bears. Overall, USDJPY bears appear tiring but the buyers seem determined to give a tough tight before leaving the throne.
by MTradingGlobal
USD/JPY increased sharply in the context of fear of interventionCurrently, the USD/JPY pair has increased to 148.00 after breaking from a low level of 147.47 at the beginning of Asian trading hours on Thursday. At the time of writing, this pair of money is trading at 148.28, up 0.06% a day. Technical about: This pair of money is still trying to consolidate and maintain a rise for several consecutive days. However, investors should still be cautious because all attention is focused on the decision of the Central Bank of Japan (BoJ) on Friday, which can lead to the decline of money pair. This before the event took place.
Short
by Samson-FX
USD/JPY continues to trade higherBecause there are no immediate signs of changes in the Japanese bank's policy (BOJ), the market may return to USD/JPY trading at a higher level. Currently, the treasury bond interest rate is still increasing and the gap between the UST-JGB interest rate continues to expand or maintain. Therefore, it is likely that USD/JPY will continue to be updated. Looking at the technical picture on the D1 time frame we can see that gold is passing and in defense. Given that the trend line still has the possibility of gold will reach the psychological port of 150.07 JPY.
by Samson-FX
USD/JPY reached 1.07 price increase, should buy or sell?Hello everyone is Samson here, today USD/JPY recovered after the loss was recorded the day before, the transaction was higher than about 147.70 in the Asian session on Tuesday. This pair of money is receiving support for price increase before the interest rate decisions from the US Federal Reserve (Fed) and the Japanese Bank (BoE). Looking at the technical picture of USD/JPY on the H1 time frame we can see that gold is in the trend of increasing so we should stick to the script and target higher. If that occurs, it is likely to reach $ 150.00.
by Samson-FX
USDJPY edges higher within multi-month-old bullish channelUSDJPY defends a two-week uptrend within an ascending trend channel established since early March. In doing so, the Yen pair stays near an upper limit of the stated channel, recently wobbling between the 21-day SMA and a one-month-long resistance line. It’s worth noting that the RSI (14) line suggests the bullish exhaustion while the MACD also lacks directional momentum and hence a pullback towards the 21-day SMA level of around 146.55 appears imminent. Adding strength to the stated SMA support is the 78.6% Fibonacci retracement of the October 2022 to January 2023 downturn. In a case where the Yen pair drops below 146.55, July’s peak of 144.90 and the 61.8% Fibonacci retracement level of 142.55 can test the bears before allowing them to challenge the key supports, namely the 100-day SMA and the aforementioned channel’s bottom line which are around 141.80 and 141.40 respectively. Meanwhile, an ascending trend line from mid-August, close to 148.80, guards immediate recovery of the USDJPY pair ahead of the bullish channel’s top line, close to 149.80 at the latest. Following that, the 150.00 psychological magnet and 150.30 levels may test the Yen pair buyers. In a case where the risk-barometer pair stays firmer past 150.30, the odds of witnessing a run-up towards challenging the previous yearly peak of around 152.00 can’t be ruled out. To sum up, USDJPY buyers keep the reins at the start of the Fed week, even as Japan’s national holiday and sluggish upside momentum prod the bulls of late.
by MTradingGlobal
USD/JPY market analysis todayLooking at the technical picture of USD/JPY on the 4 -hour chart, they can see that: Currently, the USD/JPY pair is maintaining an increase within the limit between 147,00. From the strong US economic data, it has contributed to consolidating the US dollar (USD). In addition, the US dollar index (DXY), USD measurement compared to other six main currencies, remains over 105.35 and is close to the highest daily store since March. Currently, this pair of money is trading around 147.45 with a slight decrease of 0.02% in today's session so it can be the motivation for gold to continue the increase in the short term.
by Samson-FX
Rising wedge lures USDJPY sellers amid hawkish BoJ concernsUSDJPY begins the week on a negative note while extending a downside gap during the early hours of Monday. Adding strength to the bearish bias about the Yen pair are the concerns about the Bank of Japan’s (BoJ) exit from the ultra-loose monetary policy easing and a five-week-old rising wedge bearish chart pattern. It should be noted, however, that multiple supports stand tall to test the pair sellers on their way to the theoretical target of the rising wedge confirmation, around 139.20. That said, the stated wedge’s bottom line of around 145.60 acts as an immediate challenge for the bears to retake control. Following that, the 200-SMA and an ascending trend line from mid-July, close to 144.70 and 143.40 in that order, will precede the 140.00 round figure to also check the pair’s downside momentum ahead of highlighting the 139.20 mark. On the contrary, another rejection from the BoJ policymakers to the hawkish bias and strong US Consumer Price Index (CPI), scheduled for Wednesday, could renew the upside bias about the USDJPY pair. In that case, the tops marked since last Tuesday around 147.90 will provide headwinds to the Yen pair’s recovery. It should be noted that the stated wedge’s top line, around 148.10 by the press time, holds the key to the buyer’s entry. In that case, the north run will aim for the 150.00 psychological magnet ahead of targeting the previous yearly high surrounding 151.95, as well as the 152.00 threshold. To sum up, USDJPY bulls appear to run out of steam but the bears need validation from 145.60, BoJ officials and the US inflation to retake control.
by MTradingGlobal
breakdown ?? real or fake usdjpy has been rallying all the way from april and a little bearish move during 6-13 jul 23 now the price has reached almost to the previous high and resistance zone on daily time frame we noticed the price has created the evening star pattern (bearish) and on medium time frame price a made impluse movement seems like liqudity grab and with two candle previous 5-6 candles got overlapped from resistance (bearish) price was forming a flag and pole like pattern and looked failed as price tried to breakout but it got rejected and came back into the zone of flag (bearish) the actual breakdown will occur after the level of 144.500 is taken down it is the higher low swing and closing below this level it will indicated selling pressure and change of trend
Short
by Jimmy_Rebello
USDJPY bulls run out of steam around mid-146.00sUSDJPY again flirts with the 78.6% Fibonacci retracement of the October 2022 to January 2023 downturn within a five-month-long bullish channel. Though, the overbought RSI (14) and looming bear cross on the MACD signal pullback of the Yen pair. That said, the tops marked in late June and early July join the 21-DMA to highlight the 144.60-50 zone as a short-term key support. In a case where the risk-barometer pair drops below 144.50, the late July swing high around 142.00 might stop the sellers before challenging them with the 140.00 support confluence comprising 100-DMA and the bottom line of the stated channel. Meanwhile, a daily closing beyond the 78.6% Fibonacci retracement level of around 146.50 will direct the USDJPY buyers toward the November 2022 peak of around 148.85 and then to the 149.00 round figure. Following that, the 150.00 round figure might test the Yen pair’s upside before highlighting the previous yearly high of around 152.00. To sum up, the USDJPY pair’s pullback appears overdue but the downtrend appears off the table beyond 140.00.
by MTradingGlobal
USDJPY portrays bullish consolidation beyond 200-SMAUSDJPY posted a three-week winning streak but ended Thursday on a negative note. That said, a convergence of 50-SMA and a seven-week-old horizontal area surrounding 145.00-145.10 restricts the immediate downside of the Yen pair. Following that, the early-month high of around 143.90 and the 200-SMA level of around 142.15 will act as the final defense of the buyers. In a case where the quote remains bearish past 142.15, as well as breaks the 142.00 round figure, the odds of witnessing a slump towards the 140.00 round figure and then to the late July swing of near 138.00 can’t be ruled out. Alternatively, a corrective bounce in the USDJPY price could challenge the latest multi-month peak of around 146.60 before trying to restore the bull’s confidence by poking the previous support line stretched from July 28, around 146.80. In a case where the Yen buyers remain dominant past 146.80, the 150.00 round figure will be crucial to watch as the key upside hurdle, a break of which could allow the upside to aim for the previous yearly top surrounding 152.00. Overall, the USDJPY buyers are taking a breather but not off the table as the key supports hold.
by MTradingGlobal
USD/JPY the two ways to trade (long and short) logic1. for pullback trader or people on short side will trade based on lower low and lower high formation but price movement on down side is bit slow and steady if price reacts on 2nd poi but, does not break the recent (internal lower low) of 141.500 and makes higher low this make the short trade very choppy mind exhaustion 2. for long side trader price might defend the low of 141.500 well and breaks above the both POI wait for the retracement or let the price complete the chart pattern of CUP AND HANDLE (well the chart pattern is just a assumption do not trade before the completion) My Today's Learning candle CLOSE & pattern COMPELETION is the key
by Jimmy_Rebello
USD/JPY Trade Setup1. Trade pullback ? >>> let price get back to POI for entry with sl above POI (offers good R:R) >>> follow the lower high lower lows pattern >>> exit on price switching to higher low 2. Conservative Trade ? >>> wait for the price to get a DISCOUNTED ZONE (fib 0.5 from recent swing low to high) >>> long on swing making higher low and higher high (avoid entering direct on 0.5 without confluence) (previous trade got out with small SL, then we saw a parabolic upside this is why sl is important)
by Jimmy_Rebello
USDJPY pares weekly gains with eyes on sub-140.00 zoneUSDJPY extended a pullback from a five-week-old horizontal resistance by slipping beneath monthly horizontal support and 200-SMA, despite the latest rebound, as markets sensed the Bank of Japan’s (BoJ) exit from the loose monetary policy and unimpressive US employment report. Also keeping the Yen sellers hopeful are the bearish MACD signals and downward-sloping RSI (14) line. With this, the bears are all set to challenge the 141.00 round figure comprising the 50% Fibonacci retracement of the June-July downturn. Following that, the 38.2% Fibonacci retracement level of 140.30 and the 140.00 psychological magnet may test the downside move. It’s worth observing that a three-week-old rising support line, close to 139.55 at the latest, acts as the last defense of the buyers. On the flip side, the aforementioned support-turned-resistance zone and the 200-SMA, around 141.85-142.00, challenge the USDJPY buyers before directing them to the five-week-old horizontal hurdle surrounding 144.00. In a case where the Yen pair rises past 144.00, the yearly peak marked in June around 145.10, will be in the spotlight. It should be noted that the quote’s strength past 145.10 could direct bulls toward the 150.00 round figure ahead of highlighting the next year’s top of around 152.00. Overall, the talks of a looming BoJ rate hike or an alteration into the Yield Curve Control (YCC) policy exert downside pressure on the USDJPY pair but the US inflation is on the cards and can help the pair register another positive week. Hence, it's advisable to be cautious while trading the Yen pair.
by MTradingGlobal