10/25 ! USD JPY ! touch trend set up SELL
Updated
USD/ JPY trend forecast October 25, 2024
The Japanese Yen (JPY) failed to build on Thursday’s recovery and faced renewed selling pressure during Friday's Asian session. Japan's business activity data for October showed a contraction in both manufacturing and services sectors. Additionally, a drop in Tokyo’s core inflation below the Bank of Japan’s (BoJ) 2% target lowered expectations for further rate hikes in 2024, weighing on the JPY.
A positive market sentiment and US Dollar (USD) buying also supported the USD/JPY pair around the mid-151.00s. However, verbal intervention by Japanese authorities helped limit further JPY losses. Traders now await US economic data for short-term direction amid political uncertainty before Japan’s general election on Sunday.
H1 frame shows the price zone is adjusting - touching the trendline, continuing to adjust down
/// SELL USDJPY : zone 151.850 - 152.050
SL: 152.500
TP: 50 - 100 - 250 pips (149.550)
Safe and profitable trading
The Japanese Yen (JPY) failed to build on Thursday’s recovery and faced renewed selling pressure during Friday's Asian session. Japan's business activity data for October showed a contraction in both manufacturing and services sectors. Additionally, a drop in Tokyo’s core inflation below the Bank of Japan’s (BoJ) 2% target lowered expectations for further rate hikes in 2024, weighing on the JPY.
A positive market sentiment and US Dollar (USD) buying also supported the USD/JPY pair around the mid-151.00s. However, verbal intervention by Japanese authorities helped limit further JPY losses. Traders now await US economic data for short-term direction amid political uncertainty before Japan’s general election on Sunday.
H1 frame shows the price zone is adjusting - touching the trendline, continuing to adjust down
/// SELL USDJPY : zone 151.850 - 152.050
SL: 152.500
TP: 50 - 100 - 250 pips (149.550)
Safe and profitable trading
Trade active
+ 40 pips from entry SELL USDJPY ( 151.850 - 151.050 ) 
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