USDJPY 4H SELL PROJECTION 08/04/2024Reason For SELL
1.Trible Top Formed Side Wise Markert
2.Three White Soliders Formed Sell
3. Entry @151.900 to 151.800
4. Sl @152.200
5.Tp1 @151.500
6.Tp2 @151.200
7.Tp3 @ 150.500
USDJPY trade ideas
USDJPY bulls eye multi-day-old resistance line and US InflationUSDJPY picks up bids within a fortnight-old trading range while defending the previous day’s rebound from a 150.80-90 support confluence, comprising the 21-day Exponential Moving Average (EMA) and multiple levels marked in the last two months. The Yen pair’s recovery also justifies the upbeat RSI (14) line and inspires buyers to poke an upward-sloping resistance line stretched from late October 2023, close to 152.00 by the press time. However, the impending bear cross on the MACD challenges the quote’s further upside. In a case where the pair remains firmer past 152.00, the 61.8% Fibonacci Extension (FE) of its moves between December 2023 and March 2024, near 153.10, will be on the bull’s radar ahead of the 78.6% FE level surrounding 154.85.
Meanwhile, the USDJPY pair’s daily closing beneath the 150.80 support confluence will need validation from the 38.2% FE level of 150.55 and the 150.00 threshold. Following that, January’s peak surrounding 148.80 and the previous monthly low near 146.50 could lure the Yen pair sellers. It’s worth noting that February’s bottom of 145.90 acts as the final defense of the pair buyers, a break of which will make the quote vulnerable to drop toward the 140.00 psychological magnet.
Overall, the USDJPY is likely to remain firmer but the buyers appear running out of steam and hence this week’s US inflation data, namely the Consumer Price Index (CPI) for March, will be crucial to watch for clear directions.
USDJPYhello friends as you can see in 4 hr chart market making hidden divergen most portability market will go up site i hope you like my idea thank you.
Continue sales strategy and long-term goalsHello dear friends, let's explore USDJPY together!
Regarding the impact of news: The US dollar (USD), up until now, is struggling to gain any meaningful traction amid speculations that the Federal Reserve (Fed) will begin an interest rate cut cycle in June, supported by US Personal Consumption Expenditures (PCE). The index on Friday. This may contribute to preventing any significant upward movement of the USD/JPY pair. Currently, traders are awaiting the release of important US macroeconomic data expected at the beginning of the new month, starting with the ISM Manufacturing PMI on Monday to set the tone ahead of Non-Farm Payrolls (NFP) on Friday.
Conclusion on USDJPY and trend: Ahead of the expected news today, as this factor could bring unpredictable declines, we need to understand that maintaining stability within the range of the bullish channel could provide an advantage for bears participating in the market.
In the short term, from a technical analysis perspective: With the current trend, a decline is possible. There is evidence to suggest that once the resistance level is touched, it will continue to move downwards, as indicated by RSI divergence remaining unchanged.
USDJPY : The trend is not clear yet!Hello dear friends! Today, USDJPY continued a series of lackluster trading days, with prices stagnant compared to last week, fluctuating around the 151,300 mark due to lack of momentum and dependence on market news.
Short-term expectations suggest stable volatility within a range, with little intraday volatility expected as EMA indicators remain inconclusive. Waiting for a breakout from this consolidation to identify a more favorable entry point. The luckiest!
USD JPY Pullback expected !!!The price has cleared 151 lvl and halting near the resistance 151.950 or 152 as rd fig
this resistance is monthly high
expected the price to go sideways and make a build up before making the breakout
also as decided in the post of DXY, similarly here some fair value area are let behind after strong one side up move
149.700 to 149.550 there is good fvg to trade on
thereafter 148.300 148.900 which is little less probable to see upto next week
(only there is no breakout above 152 level)
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.
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.
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!
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!
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.
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.
wave V(5) of 5 ?The previous analysis and scenario 2 became invalid , and I think this scenario is currently the only active scenario on this currency pair. part of 3 of a zigzag is an impulse with (5) wave. Now we are in wave V(5) of 5 , which is a terminal impulse . This wave itself is an zigzag (abc) and we have entered part of 3 of it now and we expect it to end before the range of 156. Therefore, short-term buying is a better option.
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.
USDJPY Retracement?Price has broken previous High, it has also been pushing with good momentum. It is only right that it breathes a bit in other to continue with the up momentum.
What do you think?
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.
USD JPY PRICE WILL BE DOWN FALL TILL 150.996 PRICE TAKE A SHORTUSD JPY PRICE will be DOWN FALL TILL 150.996 PRICE take a SHORT ENTRY ,follow for more live updates @FOREX_TRADER_007
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."
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
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.
USD JPY PRICE WILL BE DOWN FALL TILL AT 151.152 TAKE A SHORT USD JPY PRICE will beDOWN FALL till AT 151.152 take a SHORT ENTRY as shown in the picture nd also follow for more live updates @FOREX_TRADER_007
"USD/JPY: Superbullish Momentum Awaits Breakthrough for Continua Amidst the forex markets, the USD/JPY pair is exhibiting remarkable bullish momentum, poised for a potential breakthrough to extend its upward trajectory. This superbullish sentiment reflects a confluence of factors, including robust economic data, shifting monetary policies, and geopolitical dynamics. Traders and investors alike are eagerly awaiting the decisive breakthrough of key resistance levels, anticipating the continuation of this bullish trend. Delve into the intricacies of USD/JPY dynamics, analyze the technical indicators, and explore the fundamental drivers shaping this currency pair's outlook. Stay informed and prepared to seize opportunities as the USD/JPY chart sets the stage for potential further gains.
@johntradingwick
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.
