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Japanese Yen / U.S. Dollar

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JPYUSD trade ideas

USDJPY portrays bullish consolidation, further downside expectedOn Tuesday, the USDJPY pair snapped a two-day winning streak while reversing from a 13-day-old horizontal resistance surrounding 148.80-90. The pullback move also justifies the upbeat RSI and bearish MACD signals. With this, the Yen pair is likely to decline further toward the 50-bar Exponential Moving Average (EMA) level of nearly 146.60. However, the 100-EMA of 146.20 and the monthly low of 145.90 will challenge the sellers afterward, suggesting another U-turn in the price. In doing so, the quote manages a fortnight-long trading range that consolidates the pair’s gains marked since late December. Meanwhile, USDJPY buyers remain off the table unless they witness a daily closing beyond the aforementioned horizontal resistance of around 148.80-90. Even so, the late November 2023 swing high of around 149.80 and the 150.00 threshold will test the Yen pair’s upside moves. In a case where the bulls keep the reins past 150.00, the odds of witnessing the quote’s run-up toward the previous yearly high of around 151.90 can’t be ignored. Overall, USDJPY remains in the bullish consolidation mode and hence likely witnessing further downside. However, the yields and the US Dollar moves are telling a different story and may test the sellers, which in turn requires caution on the part of the pair traders.
by MTradingGlobal
USDJPY: Bearish behavior takes advantageHello everyone, what do you think about the USDJPY today? Will it increase or decrease in value? Currently, this currency pair is trading around 146.69 and has lost 0.12% during the day. The level of 147.00 has failed to sustain the current downward trend, and any further price declines are likely to find strong support near last week's low around the 145.65 area. However, additional selling activity may be seen as a new factor for traders to push prices lower and open the door for deeper losses as it adjusts to the 0.618 retracement level and the selling side seeks more opportunities to push the USDJPY down to the 144.800 level.
Short
by RKarina
USDJPY: Continue to reduce as the new week begins!Dear friends, USDJPY started the session today with a slight decline, trading around 147.75 and losing 0.25% throughout the day as it remains in a corrective wave despite its short-term upward trend. In this context, the Japanese Yen attracts some safe-haven flows amid deepening political tensions. The USD maintains stability below its monthly peak and may support USD/JPY. Traders can also anticipate the important FOMC meeting in the face of uncertainty regarding interest rate cuts. Any further price slide is likely to attract buyers near the round figure of 147.00, which would help limit the downside of the USD/JPY pair near the 146.45 area or last week's low level. A convincing break below the following level could shift the short-term trend favorably for bearish traders and push the spot price down to the horizontal support level at 146.700.
Short
by RKarina
USDJPY: Price slippage after a good week!Dear friends, as anticipated, UJ has broken free from its previous short-term recovery trend at 147.80. At the time of writing, the price is trading below the resistance level of 147.45, with immediate support at 147.30. The downward trend is strong as it has been unable to extend its potential for price increase above 148.00. Additionally, the 34-day and 89-day EMA continue to reinforce the bearish momentum of this currency pair. This decline is evident. Currently, the Japanese Yen is attracting some safe-haven flows due to deepening political tensions, while the US Dollar remains weak in anticipation of the Fed's decision. The focus now shifts to the US employment data later in the day. My target after the USDJPY tests the resistance level at 147.66 (which coincides with the testing of the 34-day and 89-day EMA) is a further decline with a target of 147.08, followed by a breakthrough and touch of the final support level at 146.66. Wishing you successful trading!
Short
by RKarina
USDJPY lures bears as FOMC, NFP week beginsUSDJPY makes rounds to 148.00 early Monday as the key week comprising the Federal Reserve (Fed) monetary policy meeting and the US employment report begins. That said, the Yen pain snapped a three-week uptrend in the last while fading the bounce within a three-week-old triangle. While the hawkish hopes from the Fed and likely firmer prints of the US job numbers seem to tease the US Dollar bulls, hopes of the Bank of Japan’s (BoJ) exit from ultra-easy policy and positioning for the US data/events lure sellers. It’s worth noting, however, that the 50-bar Exponential Moving Average (EMA) and the aforementioned triangle’s bottom line, respectively near 147.50 and 147.35, could test the bears before welcoming them. Even so, the 200-EMA level of around 146.10, quickly followed by the 146.00 round figure, will act as the final defense of the buyers. Meanwhile, a one-week-old descending resistance line surrounding 148.50 guards immediate recovery of the USDJPY pair. Following that, the previously stated triangle’s top line, near 149.30 by the press time, will be important to watch for the quote’s further upside. In a case where the Yen pair buyers keep the reins past 149.30, the 150.00 threshold and November’s peak of around 151.90 are likely to gain the market’s attention. Overall, the USDJPY pair buyers lack momentum as the top-tier US data/events loom.
by MTradingGlobal
USDJPYHello dear friends! Today, USDJPY is trading around 147.66 and is in a corrective wave within its trend, as the currency pair has just experienced a downward breakout from a marked support level. Accordingly, the USD/JPY pair is undergoing a downward trend as market confidence recovers due to expectations that the Federal Reserve will begin implementing interest rate cuts in March. Currently, the probability of this scenario is estimated at around 50:50, indicating the uncertainty of market participants. The USD/JPY pair traded lower near the 147.50 level during the European trading session on Thursday. The price has reached the 0.5 Fibonacci retracement level, making this a sensitive moment for sellers to continue their attack once again. In this scenario, the EMA 89 line will be retested and prices may further decline towards 145.500.
Short
by RKarina
USDJPY: Transactions are filled with greenDear friends, currently USDJPY is maintaining a strong upward trend, reaching 147.89 in early week trading. In the short term, technical indicators continue to support the upward trajectory of USDJPY. This currency pair is attempting to recover after finding significant support around 148.00. The upward momentum may be further bolstered by the US Dollar Index (DXY) gaining traction from expectations that the Federal Reserve may cut interest rates in March.
Long
by RKarina
USDJPYToday, USDJPY continues its trading around the level of 147.83 and is in the process of forming a triple top pattern. As a result, the Japanese Yen benefits from the hawkish stance of the Bank of Japan on Tuesday, despite the lack of further action. Political tensions and uncertain global economic prospects are not a solid foundation for the safe-haven status of the JPY, which limits the upside potential of the USDJPY currency pair. Regarding the outlook: If the triple top pattern is confirmed, the price is likely to decline further after breaking out of the range and move swiftly towards at least 146.97.
Short
by RKarina
USDJPY fades bounce off 100-SMA on BoJ status quoUSDJPY refreshed its intraday high to 148.55, before retreating to 148.00, as the Bank of Japan (BoJ) matches market expectations of keeping the monetary policy unchanged. In doing so, the Yen pair struggles to keep the late Monday’s recovery from the 100-SMA amid the inactive hours of Tuesday’s trading. It’s worth noting that the hawkish expectations from BoJ Governor Kazuo Ueda’s speech and the US Dollar’s consolidation join the nearly overbought RSI conditions to challenge the pair buyers. However, a convergence of the 100-SMA and bottom line of a one-month-old bullish trend channel, around 147.55-45, appears a tough nut to crack for the bears. Should the quote drop below 147.45, it becomes vulnerable to test 38.2% Fibonacci retracement of the pair’s July-November upside, near 146.40, ahead of revisiting the mid-December peak of around 145.00. Meanwhile, the USDJPY pair’s recovery needs to surpass Friday’s peak of around 148.80 to activate fresh buying. Following that, the 150.00 round figure and the top line of the aforementioned bullish channel, close to 150.50 at the latest, will test the Yen pair buyers. In a case where the quote remains firmer past 150.50, the previous yearly high marked in November at around 151.90 will be in the spotlight. To sum up, the BoJ inaction failed to keep the Yen pair buyers on the board as policymakers in Japan appear fed up with the ultra-easy monetary policy.
by MTradingGlobal
USDJPY MULTI TIME FRAME ANALYSISHello 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 price action 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. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Long
by okako_trading