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USD/JPY_SPT - USD/JPY

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USDJPY_SPT trade ideas

"Shorting USD/JPY: Riding the Downward Trend Below Support"Explore the lucrative opportunity of shorting the USD/JPY pair as it ventures below crucial support levels, signaling a compelling downward trend. Dive into this comprehensive guide to understand the dynamics at play, including key support levels breached and the underlying market sentiment. Learn how to capitalize on this trend by implementing strategic short positions, leveraging technical analysis, and managing risk effectively. Stay ahead of the curve and maximize your trading potential with this timely insight into trading USD/JPY on the downside. @TradingView
Short
by jadhaodipak999
USDPJY: Still under heavy downward pressure!Hello dear friends, what do you think about USDJPY? In contrast to its counterparts such as EURUSD and GBPUSD, USDJPY continues to bear the heavy pressure of depreciation, with prices weakening further on Thursday. Currently, this currency pair is trading at the level of 148.50, experiencing a loss of 0.56% for the day. This currency pair continues to face difficulties as the US Dollar weakens amid market expectations of a rate cut by the Federal Reserve in their June policy meeting, which is escalating. Looking at the prospects from a technical analysis perspective: This currency pair is on its way to find support at the level of 148.10, and prices may recover from this point. However, the recovery may not last long as the EMA 34 signal has started to reverse and USDJPY has broken through the strong support level at 149.700.
Short
by RKarina
1
USDJPY bulls struggle but bears need validation from 149.00USDJPY reverses the first weekly loss in five while printing mild gains around 150.50 early Tuesday. In doing so, the Yen pair seesaws near a three-week-old horizontal resistance surrounding 150.90-151.00. It’s worth noting that the lackluster RSI and sluggish MACD signals suggest further grinding of the quote below the stated key resistance. The bearish momentum, however, appears less likely until the prices stay beyond a convergence of the 200-SMA and a two-month-long rising support line, close to 149.00. Apart from the 149.00 support confluence, January’s high of near 148.80 will also try to challenge the Yen pair sellers before giving them control. Meanwhile, an upside break of the 150.90-151.00 resistance region will allow the USDJPY buyers to aim for the double tops marked during late 2022 and 2023 near 152.00. It should be observed that the Yen pair’s run-up beyond the 152.00 hurdle highlights the 160.00 psychological magnet and the year 1990 peak of around 160.40 for the bulls. In that case, the overbought RSI line and likely adjustments in the Bank of Japan’s (BoJ) monetary policy will challenge the pair’s further upside. Overall, the USDJPY pair’s upside momentum runs out of steam but the bearish move is yet to gain acceptance and hence needs validation from the key support of near 149.00, as well as the US/Japan fundamental catalysts scheduled for publishing during this week.
by MTradingGlobal
USDJPY: SELL OR BUY?Hello dear friends! Today, USDJPY continues to be limited below the resistance level of 150.750 in the early trading hours of the new week. This currency pair is declining due to the decrease in US Treasury bond yields, amid cautiousness and concerns about inflation data in the United States. However, the recent appreciation of the US dollar may limit the downside of USD/JPY as long as the support level of 149.700 is well maintained, thus the possibility of a recovery for USDJPY is still considered high.
by RKarina
USDJPY UPDATEUSD/JPY technical analysis The above-estimated CPI print saw USD/JPY fall ~20 pips, which is by no means a particularly big move. But it has helped the pair retrace further from its highs as we head closer towards the key US PCE inflation report later this week. Technically, I am now seeking evidence of a swing low for a potential swing trade long on the 1-hour chart. Prices remain trend support, and today’s low stalled just above a volume node from a prior congestion zone. Low-volatility retracements towards today’s low could be appealing for dip buyers, who anticipate for prices to break above the weekly pivot point.
by affinitymarkets12
USDJPY bulls lack momentum as US, Japan inflation clues loomUSDJPY rose in the last four consecutive weeks even if the US Dollar Index (DXY) snapped a five-week uptrend, amid an increase in the near-term US Treasury bond yields and chatters about a delay in the Bank of Japan’s (BoJ) delay in ending the ultra lose monetary policy. It’s worth noting, however, that the technical signals are against the Yen pair buyers as the nearly overbought RSI (14) line joins the bearish MACD conditions. Also challenging the upside momentum is the quote’s retreat from a week-old horizontal resistance around 150.80. Even if the pair crosses the immediate upside hurdle, he previous yearly high of 151.90 and an ascending resistance line from late December 2023, forming part of a rising wedge bearish chart formation near 153.80, will be tough nuts to crack for the bulls. On the contrary, the USDJPY pair’s pullback remains elusive unless the price stays above the lower line of a 10-week-old rising wedge bearish chart formation’s bottom line, close to 149.80 at the latest. Following that, a quick fall to January’s top surrounding 148.80 can’t be ruled out. However, the 100-bar and 200-bar Exponential Moving Averages (EMAs) will test the Yen pair bears near 147.10 and 145.00 respectively before directing the quote toward the theoretical target of the rising wedge confirmation, namely around 139.40. It should be It should be observed that the 140.00 threshold and the mid-2023 swing low of near 137.25 act as additional downside filters to watch. Overall, the USDJPY pair lacks upside momentum but the bears need confirmation from the short-term rising wedge chart formation before taking control. Also important are the initial inflation clues from Japan and the US.
by MTradingGlobal
USDJPY MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Long
by okako_trading
USDJPY MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Long
by okako_trading
buy usd/jpy"USD/JPY Breakout: Riding High on Momentum and Volume Surge" The USD/JPY currency pair is currently experiencing a significant breakout, propelled by robust momentum and a surge in trading volume. This breakout marks a pivotal moment in the pair's trading dynamics, offering lucrative opportunities for traders seeking to capitalize on strong market movements. Characterized by a sharp upward surge, the breakout signals a notable shift in market sentiment, with bullish momentum driving prices higher against the Japanese yen. This surge is supported by substantial trading volume, indicating strong participation from market participants and validating the strength of the breakout. Traders are likely to be drawn to this breakout opportunity, attracted by the combination of momentum and volume, which often signifies sustained upward movement. As the pair continues to climb, traders may look to capitalize on the trend, employing various trading strategies to maximize potential profits. It's essential for traders to exercise caution and implement risk management strategies, as breakouts can sometimes be accompanied by increased volatility. However, with proper analysis and execution, the USD/JPY breakout presents an enticing opportunity for traders to ride the wave of momentum and capitalize on favorable market conditions.
Long
by jadhaodipak999
USDJPY recovers within two-month-old rising wedgeUSDJPY snaps a two-day losing streak early Friday while challenging the previous day’s rising wedge bearish chart pattern’s confirmation. In doing so, the Yen pair justifies an upbeat RSI (14) line, as well as an impending bull cross on the MACD. It’s worth noting, however, that a clear upside break of 150.50 support-turned-resistance becomes necessary to defy the downside signals. Following that, an ascending trend line from January 31, also forming part of a short-term rising wedge near 151.70, will lure the bulls. It’s worth noting that the upper line of a broader rising wedge, close to 152.40 at the latest, appears the last defense of the pair sellers before directing the quote toward the June 1990 swing high of around 155.80. Meanwhile, the USDJPY pair’s failure to cross the 150.50 immediate upside hurdle will drag it back below the 150.00 threshold. In that case, a convergence of the 100-SMA and the aforementioned wedge’s bottom line surrounding 148.40 will be a crucial level to watch for the pair sellers as a clear break of that will open doors for a theoretical fall toward 137.90. During the fall, the 200-SMA level of 147.00, monthly low of near 145.90 and December’s trough surrounding 140.25 will act as intermediate halts. Overall, USDJPY remains on the bear’s radar despite the latest recovery move.
by MTradingGlobal
buying in usd/jpyAt support and the 50% Fibonacci retracement level, USD/JPY is positioned in a potentially favorable buying zone, offering a confluence of technical indicators for traders to consider. Here's a breakdown: Support Level: Support levels are areas where the price tends to find buying interest, as demand for the asset increases, potentially halting a downward trend. In the context of USD/JPY, this support level indicates a price point where buyers have historically stepped in, suggesting a potential reversal or at least a temporary pause in the downtrend. 50% Fibonacci Retracement Level: Fibonacci retracement levels are key technical tools used by traders to identify potential levels of support or resistance. The 50% retracement level is particularly significant as it represents a midpoint between the high and low of a previous trend. In this case, it suggests a potential area where the price might find support or resistance, depending on the direction of the trend. Combining these two technical indicators suggests a significant area of interest for buyers: Potential Buying Zone: The convergence of the support level and the 50% Fibonacci retracement level indicates a strong potential buying zone. Traders may interpret this as a favorable opportunity to enter long positions on USD/JPY, expecting a bounce from this level.
Long
by jadhaodipak999