🔔🔔🔔USD/JPY news:
🔆 Japan's largest labor union group, Rengo, secured an average wage increase of 5.46%, the highest since 1991, surpassing last year's initial figure of 5.28%. However, the raise fell short of expectations, as union members had sought a 6.09% increase. Given this outcome, the Bank of Japan is unlikely to tighten monetary policy beyond what the market has already priced in, which weighs on the yen. The swaps market continues to reflect expectations of less than 50 basis points of rate hikes over the next year.
🔆 On the other hand, the U.S. dollar remains under pressure following weak economic data, particularly the CPI and PPI reports, which have heightened concerns about a potential recession. This increases the likelihood that the Federal Reserve may cut interest rates sooner than previously expected at the end of the year. Additionally, growing uncertainty surrounding U.S. tax policies are adding further downside risks to the dollar.
Personal opinion:
🔆USD/JPY will maintain a downtrend in the near future after the previous basic economic news. Unless there is good news for the Dollar, then we will consider the possibility of a bullish reversal
🔆 Technically, USD/JPY is hitting a strong resistance zone at SMA100 and Pivot points, so it is likely to continue to decline next week.
🔆Analysis based on important resistance - support levels and Pivot points combined with SMA to come up with a suitable strategy
Resistance zone: 148.70 - 149.10 - 150.00
Support zone: 148.12 - 147.61 - 146.73
Plan:
🔆Price Zone Setup:
👉Buy USD/JPY 148.70 – 148.80
❌SL: 149.15 | ✅TP: 148.20 – 147.70 – 146.80
FM wishes you a successful trading day 💰💰💰
🔆 Japan's largest labor union group, Rengo, secured an average wage increase of 5.46%, the highest since 1991, surpassing last year's initial figure of 5.28%. However, the raise fell short of expectations, as union members had sought a 6.09% increase. Given this outcome, the Bank of Japan is unlikely to tighten monetary policy beyond what the market has already priced in, which weighs on the yen. The swaps market continues to reflect expectations of less than 50 basis points of rate hikes over the next year.
🔆 On the other hand, the U.S. dollar remains under pressure following weak economic data, particularly the CPI and PPI reports, which have heightened concerns about a potential recession. This increases the likelihood that the Federal Reserve may cut interest rates sooner than previously expected at the end of the year. Additionally, growing uncertainty surrounding U.S. tax policies are adding further downside risks to the dollar.
Personal opinion:
🔆USD/JPY will maintain a downtrend in the near future after the previous basic economic news. Unless there is good news for the Dollar, then we will consider the possibility of a bullish reversal
🔆 Technically, USD/JPY is hitting a strong resistance zone at SMA100 and Pivot points, so it is likely to continue to decline next week.
🔆Analysis based on important resistance - support levels and Pivot points combined with SMA to come up with a suitable strategy
Resistance zone: 148.70 - 149.10 - 150.00
Support zone: 148.12 - 147.61 - 146.73
Plan:
🔆Price Zone Setup:
👉Buy USD/JPY 148.70 – 148.80
❌SL: 149.15 | ✅TP: 148.20 – 147.70 – 146.80
FM wishes you a successful trading day 💰💰💰
Trade active
Bounced back to near 150.00However, this could be a short-term rally to prepare for a downtrend
A double top pattern has appeared and is showing bearish momentum
Update Plan:
🔆Price Zone Setup:
👉Sell USD/JPY 149.50 – 149.65
❌SL: 150.00 | ✅TP: 149.00 – 148.60 – 148.10
FM wishes you a successful trading day 💰💰💰
Note
HIt + 55 pips from 149.65congratulation
Trade closed: target reached
USD/JPY holds the previous day's pullback toward 148.00 early Thursday amid the divergent BoJ-Fed policy outlooks--led US Dollar softness. 
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Channel: signals - knowledge and FOREX comments
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Channel: signals - knowledge and FOREX comments
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.