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Japanese Yen / U.S. Dollar

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JPYUSD trade ideas

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
USDJPYHello Traders Welcome back to another profit day If you like my idea please give me a like and comment, That's will be a great appreciation to do more predictions Here is the full 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. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. USDJPY with order flow concept Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts. The information given is not a Financial Advice. Please support this idea with a like, if you find it useful have a good profit day guys
Short
by Bexi03
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
USDJPY breaks immediate support despite BoJ inactionUSDJPY appears well-set to reverse the previous weekly gains as it reverses from a three-week-old descending resistance line surrounding 141.00. Also adding strength to the downside bias could be the pair’s break of a fortnight-old support line’s break, as well as bearish MACD signals. However, the below 50.0 levels of the RSI challenges the Yen pair as US Dollar bulls flex muscles ahead of the Fed’s favorite inflation clue, namely the Core PCE Price Index. It’s worth noting, however, that the quote’s recovery remains elusive below 141.00 while the 200-SMA and multiple technical levels marked since June 19 and a 61.8% Fibonacci retracement of the June-July downside together constitute the 142.00-10 area as a tough nut to crack for the bulls. On the contrary, USDJPY sellers need validation from the 23.6% Fibonacci retracement near 139.00 to rule further. Should the Yen pair remains bearish past 139.00, tops marked in March and May around 137.70 and the monthly low near 137.25 will act as the final defenses of the major currency pair. If at all the quote drops beneath 137.25, May’s bottom of near 133.50 and the 130.00 threshold will lure the sellers. Overall, USDJPY is likely to add to the weekly gains but US data appears crucial to watch for clear directions.
by MTradingGlobal