USDJPY_SPT trade ideas
Short term downtrend with the indication of trendlines.The demand is between the downtrend lines. Hence, the candlesticks respect the behaviour. USD pairs are on the fall due to high valuations and downtrend patterns.
USDJPY short trade at the marked priceUSDJPY can be shorted at near marked price with Profit and SL.
FOREX CHARTS MARKINGGood Morning, For the today USDJPY EURNZD and GBPJPY seems good to trade. I am not suggesting any buy or sell, this is just for the Educational Purpose.
DOLLAR YEN shows bullish bias Price at support and momentum loss showing bears failed to move price down.
USDJPY is ready to refresh multi-month lowEven if the USDJPY pair posted the biggest weekly gains in seven in the last, it remains inside a bearish channel. Additionally keeping the Yen pair sellers hopeful is the quote’s repeated failures to cross the 100-SMA. That said, the quote currently drops towards a one-week-old support line, close to 128.00. However, the May 2022 low will join the lower line of a five-week-old descending trend channel, near 126.35-30, to pose as a tough nut to crack for the bears. In a case where the pair remains bearish past 126.30, the odds of witnessing a slump toward the 120.00 psychological magnet can’t be ruled out.
Alternatively, USDJPY can witness short-term buying in case of a successful upside break of the 100-SMA, close to 130.75. Following that, the top line of the stated bearish channel, around 132.50, will be important for the Yen pair buyers to watch. It should be noted that the 200-SMA level surrounding 132.85 and the 133.00 round figure act as additional upside filters before giving control to the bulls.
Hence, USDJPY bears are in the driver’s seat even if the 126.35-30 support confluence challenges further downside.
USDJPY Key Level Support@ 128.82Dollar remains unloved; sterling drops on weak retail sales
Investing.com - The U.S. dollar edged lower in early European trade Friday, remaining around seven-month lows amid concerns of a U.S. economic slowdown, while sterling retreated after weak retail sales data.
At 03:15 ET (08:15 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, edged 0.1% lower at 101.750, just above the seven-month low of 101.51 seen on Wednesday.
The index is down 1.3% this year after sharp losses in the last quarter of 2022 as investors bet that the Federal Reserve will slow the pace of its interest rate rises amid signs inflation has peaked.
At the same time, U.S. data this week have suggested the world's biggest economy was slowing, with retail sales dropping 1.1% on the month in December, industrial production falling 0.7%, and manufacturing production down 1.3%.
“This is the third consecutive month of contraction in industrial activity with output declines looking broad-based,” analysts at ING said, in a note. “Coming on the back of the weakness in retail sales, the steep drop in industrial production and news of more job lay-offs adds to fears the U.S. could already be in recession.”
Elsewhere, GBP/USD fell 0.1% to 1.2372 after U.K. retail sales unexpectedly fell in December, dropping by 1%, much weaker than the predicted 0.5% monthly rise.
"Retail sales dropped again in December with feedback suggesting consumers cut back on their Christmas shopping due to affordability concerns," Heather Bovill, the Office of National Statistics' deputy director for surveys and economic indicators, said.
EUR/USD rose 0.2% to 1.0850, trading around levels not seen since early April 2022, after European Central Bank President Christine Lagarde warned, at the World Economic Forum in Davos, Switzerland on Thursday, that inflation figures remained "way too high", reiterating the need for aggressive monetary policy decisions.
USD/JPY rose 0.3% to 128.81 after Japan's core consumer prices rose 4.0% in December from a year earlier, double the central bank's 2% target.
Trading in the yen has been volatile of late amid expectations that the BOJ will soon end its ultra-easy monetary policy in the near future.
🔥USDJPY might bounce soon! The price is consolidating above the support level in the H1 timeframe. According to the Fibonacci Retracement, we might see a bounce toward the 130.14 and 130.45, 50.0, and 61.8 Fibonacci levels, respectively.
❌SL: Below the support area
Be accurate! The US PPI will be announced in less than an hour!
My new Long term analysis for USDJPYMy new Long term analysis for USDJPY
Structure is now broken and its going upside for inducement sweep.
After inducement taken out we can sell also we can sell when price tap on order block.
Lets take entry with small lot because its long term trade.
Trade with your plan and money management.
Thanks.
USDJPY bears keep driver’s seat despite BoJ-led rallyDespite rising nearly 300 pips following the Bank of Japan’s (BoJ) inaction, the USDJPY pair remains on the bear’s radar as it is yet to cross a four-month-long descending trend line resistance, around 131.10-15 by the press time. That said, the RSI’s rebound from the conditions also intraday buyers. It’s worth noting that the 50-DMA pierces the 200-DMA from above and portrays a bear cross on the daily chart, which in turn suggests the quote’s further downside unless the pair rises past the 200-DMA hurdle surrounding 136.65.
Alternatively, lows marked during May 2022 surrounding 126.35 precede the 125.00 threshold to challenge USDJPY bears, not to forget the oversold RSI conditions. In a case where the pair bears ignore RSI conditions and dominate past 125.00, the 78.6% Fibonacci retracement level and the late March low, respectively around 122.45 and 121.30, could act as the last defenses of the buyers before directing them to the February 2022 bottom of 114.40.
Overall, the bear cross on the daily chart contrasts the BoJ’s inaction and keeps sellers hopeful.
Approach towards USDJPY Long.Hello Traders!
It's a simple trade today. Very basic . Sometimes we tend to complicate the market when all it needs is simplification.
1. Falling wedge pattern with trend respected.
2. A comfirmation in 30 min tf (W pattern) and 2hr tf ( indecision candle and then a bullish reversal candle).
3. But still, as a precautionary measure, we'll wait for the the current high to be broken. Better safe than sorry!
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
USDJPY Bullishquick trade news,didnt getto publish on time
DO NOT TAKE MY TRADES THEY ARE PERSONAL AND COULD BE MISLEADING.
usdjpy touching its major supportUsdjpy
All jpy pair touching their lows during last fundamental jpy broke its zone of 130 which was acting as a support for one month.Now for this week we can see price movement within a descending channel and very soon price will test again a solid support zone of 126. Where we will see a little bullish move upside but remember for good and healthy trend move price should break this either on both side.. Around 126 zone all support acts like horizontal and and vertical if price hold this support zone after retest we can take entry within a following channel
My Approach to USDJPY Long.Hello Traders!
1. I see a potential head and shoulder on the USDJPY chart.
2. It's still a pattern in the making and hence makes it a bit of a risky trade but definitely worth a shot as the market stands on a major support on the daily TF and has been consolidating in the region for quite some time now.
3. Also, as per my trade, we are entering at the very low of the zone, thus reducing our risk significantly .
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
USDJPY Bearishlooking for uj sells off of my confirmations and my trading plan
DONT TAKE MY ATTEMPTS/TRADES THEY ARE PERSONAL AND YOU MIGHT LOOSE MONEY
#USDJPY Hoping for Long Position One can expect very sharp recovery in #USDJPY SO one one can take little risk and go for buy position
USDJPY One can Take A Long Position We can take long position in USDJPY as it has given a hammer pattern and has closed at very good price so from current levels we can see a sharp spike up to 140 with SL below 129.20 and we can expect a target of 3-4:1.
Elliott Wave in technical analysis 5th impulsive move 1 wave done 2 corr done. waiting for next implu move 3rd wave
GO SHORT IN USDJPYHi, USDJPY has formed an head and shoulder pattern on daily chart and also camed to an important support. If it breaks the above levels the we can get a good short trade.
