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...
USDJPY_SPT trade ideas
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.
If you find this article and analysis helpful, we would greatly appreciate your feedback in the form of comments and likes.
USDJPY Analysis of weekend, expected long termHello dear traders, the USDJPY has increased as predicted during yesterday's trading session.
After a strong surge to 149.53, this currency pair has now slightly decreased to 149.24. This pair is considered unsuccessful as it hasn't reached the predicted level of 150.00 yet. It is currently trading at 149.23 USD and is expected to test the support level of 148.00 USD. The downward trend will persist until any positive news can trigger an upward movement for this currency pair.
USDJPY retreats within two-month-old rising wedgeUSDJPY began the trading week on a back foot within a two-month-old rising wedge bearish chart formation. That said, the Yen pair snapped a four-week uptrend in the last but failed to confirm the rising wedge, neither it could break the 200-SMA support. However, the RSI conditions and the MACD conditions join the quote’s failure to cross the 50-SMA immediate resistance to keep the sellers hopeful. With this, the bears await a clear downside break of the aforementioned wedge’s bottom line, close to 148.30 by the press time, as well as a break of the 200-SMA support surrounding 147.70, to tighten the grip. It’s worth noting that the monthly low of around 147.30 could act as the final defense of the pair buyers before signaling the theoretical target of the rising wedge breakdown, around the 140.00 threshold.
On the contrary, the USDJPY pair buyers need to cross the 50-SMA upside hurdle, near 149.20 at the latest, to retake control. Even so, the 150.00 psychological magnet can test the Yen pair bulls. Following that, the latest peak of around 150.20 and the wedge’s top line of near 150.80 will challenge the upside momentum ahead of directing the buyers toward the previous yearly high of around 152.00.
Overall, the USDJPY pair teases the sellers but a downside break of the 147.30 becomes necessary for the bearish confirmation.
USDJPY with a significant decreaseHello everyone, Samson here. Let's discuss USDJPY today.
Today, the Minister of Finance of Japan reiterated that the exchange rate must remain stable, reflecting fundamental principles and the government's readiness to take necessary actions to counter excessive volatility without excluding any options. This, along with overall weak risk sentiment, could benefit the Japanese Yen (JPY) as a safe haven and help limit the appreciation of the major currency.
Looking at the technical picture on a H4 timeframe, this currency pair has broken a significant upside level at 148.96 USD. It is currently trading at 148.75 USD, which represents a notable decline for this pair. This indicates that the next trend for this pair is likely to be bearish as it has not been able to surpass 150.00 USD as anticipated. According to Samson's analysis, this currency pair will undergo a retest of support at 147.58 USD before any new developments occur.
USD/JPY consolidated nearly 148.50 lossesOn Thursday, there is significant selling pressure on USD/JPY, with the pair trading around 149.00. The long decline of the US dollar and the interest rate of the US Treasury bond have heavily impacted this currency pair. Additionally, concerns about Japanese intervention have further weighed down on USD/JPY.
Taking a closer look at the technical analysis on the H4 time frame, it is evident that there is an overall uptrend in this market. According to Samson's perspective, before initiating any upward movement, this currency pair will need to test and hold support at 148.07.
USDJPY aims to go to 150.00 USDJoin Samson as we explore the market!
Today, USDJPY experienced a significant drop, although it is merely a minor correction. Analyzing the technical analysis on the H4 timeframe, this currency pair continues to demonstrate an upward trend. Despite being influenced by selling pressure previously, it has rebounded by 0.13% today and currently sits at 149.27. Our target is set at a round figure of 150.00 for future gains.
shorthi guys do follow and like for more easy content .. SL should be above the in lower time frame in 5 minutes if the market structure changes can jump into sell potion risk to reward ratio is good...
USDJPY analysis today (October 3)The USDJPY pair is maintaining a high level today, currently trading just below the 11-month high of 150.00 at around 149.68. The couple is waiting for signals from the Japanese government while taking into account the impact of words spoken by officials. The strengthening US dollar and higher yields on US treasury bonds have been driving this currency pair.
Analyzing the technical outlook on the D1 timeframe, it is evident that the overall trend remains bullish, indicating that market sentiment still favors buyers. Therefore, it would be wise to align with the main trend and expect a minor adjustment in the short term that may not be significantly impactful.
USDJPY, DXY, YearlyChart to Remember ... Something to Ponder
USDJPY will be forming a Higher High and Lower Low pattern meaning bullishness on Yearly and suggesting things to come.
Targets are identified using Fibonacci.
Similar Things is happening in EURUSD yearly charts which is also suggesting Higher DXY.
No Idea how things unfold
Bank of Japan interventionYen reversed sharply after job opening data release in US.
Most probably due to Bank of Japan intervening in forex markets
Safe to assume that BOJ will defend 150 levels
