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Japanese Yen / U.S. Dollar

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USD JPY Short Side Trade For Shore Term On the 4-hour timeframe, USD/JPY has shown a significant breakdown. The current internal structure favors a short-side trade. Looking at the 15-minute timeframe, the currency pair is following a trend line and aligning with the Fibonacci Golden Zone. There's a strong likelihood of rejection between the range of 148.020 to 148.150. However, there's also a possibility of a breakout leading to a trend reversal, signaling a move towards the long side. The decision for a short-side trade hinges on how the market reacts at the rejection level. If we observe a rejection, it may present an opportunity for a short-side trade."
by sahiltandale824
1
USDJPY extends pullback from 50-SMA despite firmer yieldsAfter multiple failures to cross the 50-SMA hurdle the last week, USDJPY sellers attack the 149.00 round figure amid a sluggish start to the key week comprising US GDP and Fed’s preferred inflation gauge, not to forget Fed Chair Jerome Powell’s speech. The pullback move also justifies the bearish MACD signals amid an absence of the oversold RSI (14). With this, the Yen pair is likely to revisit the monthly low of 147.15, marked the last Monday. However, the 100-SMA and an upward-sloping support line from late March, respectively near 146.80 and 146.30, could challenge the risk-barometer pair sellers afterward. In a case where the quote breaks the 146.30 level on a daily closing basis, it becomes vulnerable to drop toward the five-month-old resistance-turned-support of around mid-143.00s. On the flip side, a daily closing beyond the 50-SMA hurdle of 149.65 becomes necessary for the USDJPY buyers to retake control. Even so, the 150.00 psychological magnet will play its role in testing the upside momentum. Following that, the monthly horizontal resistance surrounding 151.80 and an upward-sloping resistance line from late June, close to 153.00 at the latest, will act as the final defense of the bears. Overall, the USDJPY is likely to remain weak but the downside room appears limited.
by MTradingGlobal
USD/JPY trend 21/11After a long-awaited period, the consolidation of the USD/JPY has finally started following multiple rejections at 152. Since USD/JPY left the S-T uptrend channel(1) the day before yesterday, the selling officially began at the European session yesterday when it dropped below the 149 support level. The targets to the downside are at 100 MA(3) and the bottom of the upward channel (2), both standing near 146.5. There is expected to be strong support around 146.5, and it is critical to keep an eye on the release of the Fed. Minutes later today. If the minutes contain any hints of an early completion of interest rate hikes, there is a chance for further downside movements in the pair. The key is to break below channel(2). If that happens, the uptrend originating from 127 will come to an end, and the USD/JPY may drop further toward 139.5 or even lower. S-T Resistances: 149.5 149 148.2 Market price: 147.46 S-T Supports: 147.2 146.8 146.5 Kindly give me a thumbs up 👍. Feel free to leave a comment; share your thoughts 🤟. P. To
by 1uptick
JPY/USD AnalysisThe JPY/USD currency pair is currently trading at .0067516. There is a potential downward movement anticipated, with a projected support level around .0067004. Following this, a bullish trend is expected, with a potential upward target of .0067837. Traders should monitor the pair closely for confirmation of these levels and adjust their strategies accordingly. Market sentiment and key technical indicators should be considered for a comprehensive analysis. Risk management is crucial to navigate potential fluctuations in the exchange rate. Keep an eye on economic factors and global events that may impact the JPY/USD pair during this period.
by Charts_Maven
1
USDJPY drops to three-week low on breaking 150.00 key supportUSDJPY prints a three-day losing streak as it slides to the lowest level in three weeks amid early Monday. In doing so, the Yen pair justifies the previous day’s downside break of the 150.00 support confluence comprising the 200-SMA and a 2.5-month-old bullish channel’s lower line. Adding strength to the downside bias are bearish MACD signals. However, the oversold RSI (14) line appears to challenge the south-run of late. With this, the 50% and 61.8% Fibonacci retracements of September-November upside, near 148.20 and 147.30 respectively, act as strong challenges for the sellers. Following that, the quote becomes vulnerable to plunge towards the 78.6% Fibonacci ratio of 145.90 and then to September’s low of 144.43. On the flip side, the USDJPY pair’s recovery needs validation from the 150.00 support-turned-resistance confluence. In a case where the Yen buyers manage to keep the reins past 150.00, the last swing high surrounding 151.45 and the monthly peak of 151.90, as well as the previous yearly top of near 151.95, will test the bulls before allowing them to prod the 152.00 psychological magnet. It should, however, be noted that the pair’s successful trading above 152.00 will enable it to challenge the June 1990 top surrounding 155.80. To sum up, USDJPY is likely to witness further downside but the fall appears slow beyond 147.30.
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