USDJPY ANALYSIS OVER H1 CHART.USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY has completed a wave of correction to 150.15. Today the market is consolidating above this level. With an escape upwards, a new wave of growth to 152.20 could begin.
USDJPY trade ideas
USDJPY SELLGreetings!
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USDJPY increased sharply with the daily expansion trendToday, the USD/JPY pair is attracting a lot of buying activity on the first day of the new week and seems to have halted its retreat from the 150.75-150.80 level, the highest since October 2022 touched last week. However, Samson still maintains faith in the price and this currency pair is currently trading around the 149.70-149.75 area. It has gained less than 0.10% for the day as traders weigh up a crucial central bank meeting before placing bets on a new direction.
So, the Bank of Japan (BOJ) is expected to announce its decision on Tuesday amid increasing speculation about the possibility of changing the yield curve control (YCC) policy. However, this poses a challenge for the bank to escape negative interest rates. This marks a clear divergence from other major central banks, including the Federal Reserve, and the risk appetite sentiment has made the Japanese Yen (JPY) a safe haven and a key factor driving favorable winds for the USD/JPY pair.
USDJPY 1DUS dollar from past few months have been very strong , but finally it has reached to the 151 level in USDJPY pair also this is a psychological level which is a strong resistance zone for the price , can sell now and aim for 1:2RR
USDJPY challenges rising wedge on BoJ status quoUSDJPY bounces off 200-SMA while testing the previous day’s rising wedge confirmation as Yen traders respond to the Bank of Japan’s (BoJ) inaction. With this, the risk-barometer pair not only challenges the bearish chart pattern but also teases the buyers, especially amid the looming bull cross on the MACD and a quick rebound in the RSI (14) line. However, the bullish bias remains elusive unless the quote stays beneath the aforementioned rising wedge’s upper line, close to the 151.00 round figure. Following that, the previous yearly top of near 152.00 may prod the buyers targeting the mid-1990 peak surrounding 155.80.
On the contrary, the USDJPY pair’s fresh selling needs validation from the 200-SMA support, currently around 149.00. Even so, the monthly low close to 147.30 could challenge the Yen pair bears before directing them to September’s bottom of around 144.45. In a case where the sellers keep the reins past 144.45, the 140.00 round figure will be in the spotlight.
Overall, the Bank of Japan’s (BoJ) dovish bias keeps USDJPY buyers hopeful. However, a clear upside break of 151.00 and downbeat comments from BoJ Governor Ueda will help the bulls to keep control.
USDJPY encountered challenges for the continued trendDear readers, USDJPY is maintaining a strong upward trend above the 150.00 level, but it is currently trading relatively calmly as it fails to surpass the resistance level at 150.49.
At the time of writing, the price is trading at 150.20. In my opinion, it would be wise to retest the previous breakout zone around 150.05 or look for support levels lower around 149.80. The bullish trend will continue to prevail as long as it remains well established above 149.80. What are your thoughts on this?
Reaching at 147.200USD/JPY has forming a correction for a movement to the downside, expecting to reach at 147.200 for short term.
UJ tests support againDear friends, As predicted by Samson, the upward momentum is still being strengthened and is currently trading at a high level of 150.39 today.
USD/JPY is preparing for a decisive breakthrough above the psychological resistance level of 150.00. This asset seems strong as the US Dollar Index (DXY) continues to rise following S&P Global's report of increased business activity in October.
Samson emphasizes that UJ is expected to continue rising, but it is necessary to reassess the support level of 140.82, which coincides with the previous uptrend channel, in order to officially establish the continuation of the upward trend. Along with the stability on the weekly timeframe, Samson is optimistic about breaking out of the high level of 151.81.
shortHi Guys,
I hope you guys are enjoying Monday, I feel usdjpy once break the channel after retesting this will fall sharply... if you like my content do like, follow, and comment...
USD/JPY Side Way then increaseThe USD/JPY has temporarily halted its two-day upward trend, possibly due to optimistic economic data from China. The spot price traded lower, near 149.80 during the European session on Wednesday. However, the USD/JPY is benefiting from positive retail sales figures from the United States, supported by higher interest rates from the US Treasury.
Market observers may be eager to understand the trajectory of the Federal Reserve's monetary policy, especially after the dovish remarks from officials. Federal Reserve Bank of Richmond President Thomas Barkin believes that the current policy has limitations, reflecting uncertainty about the upcoming FOMC meeting in November.
In terms of technical analysis, the USD/JPY may experience short-term sideways movement in the near future before forming a flag pattern and breaking out of that range. My target expectation is at 151.10.
US dollar keep getting strongerThe trend lines shows how positively the dollar has respected the uptrend.
On W1 & D1 an upside till the last resistance where it can form a double top will be the area of interest and supply.
Expecting for a positive US data which will lead to even stronger USD.
Expecting 120 pips.
USDJPY decreased, waiting for new data from Japanese CPIHello dear traders!
Currently, the USD/JPY pair has touched a level near 148.80 but quickly recovered to a wider trading range around 149.50 as the Bank of Japan (BoJ) is expected to announce inflation forecasts for fiscal years 2023 and 2024 earlier than anticipated.
Forecast:
The hope for intervention from the Japanese government in the FX market is diminishing. The Japanese government is concerned about continuing to sell off the Japanese Yen and believes that these unstable actions are the cause of this.
Meanwhile, the S&P500 futures contract has seen a significant decline in European trading session, reflecting a risk-accepting sentiment in the market due to deepening tensions in the Middle East. The US Dollar Index (DXY) has dropped from the 106.50 level as policymakers at the Federal Reserve support keeping interest rates unchanged in November. Therefore, this is a negative factor affecting the USD/JPY pair.
USD/JPY increasing traction above 149.60Currently, the USD/JPY pair is holding steady at 149.60 during the early European trading hours on Tuesday. The demand for the US Dollar (USD) and the recovery of US Treasury bond yields have provided some support for this currency pair. Investors are awaiting the US Retail Sales data on Tuesday for fresh impetus. The monthly figures are expected to increase by 0.3% in September.
Looking ahead, market participants will keep an eye on US Retail Sales, Industrial Production, and the Fed's speaker on Tuesday. On Wednesday, Japan's trade data will be released, followed by the National Consumer Price Index (CPI) report on Friday. These figures may provide clear direction for the USD/JPY pair.
Bearish Engulfing Reversal in USD/JPYTechnical Analysis: Identifying a sustained uptrend in USD/JPY on the daily chart.
Bearish Engulfing Pattern: Observing a bearish engulfing pattern where a larger bearish candle fully engulfs the previous smaller bullish candle, signaling a potential trend reversal.
Execution:
Entry Point: Initiate a short position (sell) after the confirmation of the bearish engulfing pattern. Ensure the second candle closes below the low of the previous bullish candle.
Stop-Loss: Set a stop-loss order just above the high of the bearish engulfing pattern to manage risk in case of a false reversal.
Take-Profit: Establish a take-profit level based on a risk-reward ratio, targeting a recent support level or using technical analysis tools like Fibonacci retracement levels.
Risk Management:
Position Size: Determine the position size based on the percentage of total capital at risk. Avoid risking more than 1-2% of the trading capital on a single trade.
Monitoring: Regularly monitor the trade for any signs of reversal failure or unexpected market events.
Additional Considerations:
Market Sentiment: Keep an eye on overall market sentiment and potential influences on the USD or JPY.
News Events: Be aware of any upcoming economic releases or events that might impact the currency pair.
Remember, this is a hypothetical idea, and actual trading involves uncertainties. Always conduct thorough research and consider multiple factors before making trading decisions.
USDJPY continues to turn up the price?Hello dear traders!
Last week, USDJPY broke out of its upward trend and started moving sideways. It is currently trading at 149.51. However, there are still no signs of USDJPY reversing its direction. This is evident as the currency pair is in an upward trend and is gradually approaching a strong resistance level at 150.000.
It is expected to retest the support level before the potential for further price appreciation. There is a significant breakout potential if UJ surpasses this resistance level.
Dow formed on 1D chart, USDJPY continued?Currently, USDJPY is gradually approaching the 150.00 level after receiving strong support from the 137.30 support level. USD/JPY aims to regain its three-day winning streak, trading around 149.80 in today's trading session. This pair has gained price support due to a series of optimistic economic data from the United States (US).
Looking at the technical picture, on the H4 time frame, USDJPY has formed a DOW pattern, and surpassing the 150.00 level will continue to drive upward momentum for USDJPY.
USD/JPY fluctuated nearly 149.00 before the US CPI indexCurrently, USD/JPY has ended its two-day uptrend and is trading lower around the 149.00 level in the Asian trading session on Thursday. The USD/JPY exchange rate is facing challenges due to the possibility of the Federal Reserve (Fed) ending its interest rate hike cycle.
Accordingly, the Federal Reserve of the United States (Fed) will abandon the idea of raising interest rates. Fed Governor Christopher Waller supports a cautious approach to interest rate developments, stating that tightening financial markets "will be helpful to us." Fed Governor Michelle Bowman leans towards another interest rate hike due to persistent inflation above the Fed's 2% target.
Technically, this currency pair is consolidating after breaking out of the uptrend channel at 149.01. However, in the long term, a slight downward correction is expected before reaching the 150.14 level. Surpassing this increase will help propel this currency pair to a new figure at 150.50.
USDJPY SHORT price is being rejected on 150.00 , hence we expect a bearish momentum . keep a close eye on this one
USDJPY checks the level of trend support?The USDJPY is currently undergoing a correction in relation to the support level in the context of the corrective movement of the DXY (Dollar Index). Logically, in an uptrend, the support level would push the price higher, but what could happen?
On the daily timeframe, the DXY is forming a correction towards a significant support level, which could lead to a price increase. As a result, the USDJPY will begin to form an increased resistance level. Currently, the fundamental situation is quite complex, with the firm stance of the Fed and the USD being influenced by other leverage factors. Therefore, we will start with technical analysis.
The currency pair is heading towards a support level in an uptrend. Accumulation near this area can cause confusion and increase the chances of breaking through the next support level. A sell signal (a counter-trend strategy) would be a consolidation below the upward trend support line after a breakout. And a buy signal (a trend-following strategy) would be a false break of the support line.
Double TopPattern: Double Top
Pattern Characteristics:
Formation: Two peaks at approximately the same price level, separated by a trough.
Bearish Reversal Signal: Indicates a potential trend reversal from bullish to bearish.
Market Conditions: Consider the overall market conditions, economic events, and news that might impact the trade.
Monitoring: Regularly monitor the trade and be prepared to adjust your strategy based on price movements.
USDJPY is being threatened below the low levelGreetings!
It appears that the upward movement of USDJPY came to a halt at 149.15. The currency pair failed to reach the anticipated level of 150.00 as a downtrend formed, and currently, it is being traded at 148.88.
Samson suggests that there is a possibility of revisiting the significant level of 147.80. Additionally, Samson still holds a positive outlook on the target price of 150.00.
What are your thoughts on the current market situation?
Target 150.00 USDJPYGreetings, traders. At present, the market is experiencing a favorable upward trend, with prices remaining high and currently trading around US $149.11.
On the 4-hour time frame, the technical analysis shows that there has been no significant breach. It is anticipated that there will be a minor correction to $148.62, followed by a subsequent increase to $150.87.
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