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U.S. Dollar / Japanese Yen

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USDJPY trade ideas

USDJPYThe USD/JPY forecast sees the pair move into a corrective phase after registering strong upwards movement. Forex day traders were probably expecting a temporary decline was expected and natural. If you are looking for day trading brokers, check out our guide. In the short term, the rate reached a strong support level, so it could start increasing again. Still, we’ll have to wait for confirmation as the pressure remains high. From the technical point of view, the USD/JPY pair has printed a continuation pattern, but this is far from being confirmed. The pair is trading in the green at 113.73 at the time of writing as the Dollar Index has registered an impressive rally. DXY’s further growth helps the USD to appreciate versus its rivals. Also, the Japanese stock index, the Nikkei, has started to grow after failing to make a new lower low. The USD started to increase again after Powell’s remarks at an online conference hosted by the South African Reserve Bank on Friday. Also on Friday, the US Flash Services PMI was reported at 58.2 points versus 55.3 expected and compared to 54.9 in the previous reporting period signalling further expansion. The Flash Manufacturing PMI dropped from 60.7 to 59.2 points below 60.5 expected announcing a slowdown in expansion. Tomorrow, the BOJ Core CPI and the US CB Consumer Confidence could have a big impact on the USD/JPY pair.
Short
by yuvarajd
USDJPY Mark down phase starting!USDJPY) completed 4 hours cycle and 1 hour cycle, breakout of 1 hour cycle , divergence in 4 hours , M formation in JPY pairs, stopping volume, 3x ADR, RWL touched, BIG M pattern , stop hunt done type 2 london pattern. USDJPY dropping , gold going for level 3 , AUDUSD big W formation playing out it just looks very perfect and the best thing is that we have formed M pattern on Wednesday just like in previous EURUSD when we got that second leg stop hunt and it played out pretty perfectly this distribution inside psy levels and that stop hunt is just soo perfect there is a m pattern with shark fin + m pattern in chart too We started this 4 hour cycle exactly 1 month ago! so if 15m in cycle works for 3 days and 1 hour cycle works for 2 week then this 4 hours cycle is PERFECTLY aligned with 1 month timeframe!!!!!!!!! (USDJPY) so we can saw that this 4 hours cycle was a combo of 2 mark up 1 hour cycle that why on 1 oct that 1 hour cycle didnt work out and went straight for 1more 1 hr cycle to the upside
Short
by Aditya_Mishra1
USDJPY Strategy today 18-19 OCT | USDJPY Forex Strategy 18-19octUSDJPY: We had plenty of opportunities in the past hopefully we will get another good trade again. Though the market is standing at a very strong resistance, still market is not going down. It clearly shows the presence of BUYERS in the market. And considering the trend of the market, we should mainly look for BUY opportunities only. Option 1: If market retraces and bounces from the 113.20, we can BUY. Option 2: If market breaks the FLAG PATTERN and starts trading above 114.40.
by AbhilashHazarika