USDJPY analysis week 7
šFundamental Analysis
USD/JPY fell sharply to 151.300 on expectations that the Bank of Japan (BoJ) will continue its tightening policy. Data showed that nominal wages in Japan increased by 4.8% in December - the highest level in nearly 30 years, while real wages increased for the second consecutive month, reinforcing the prospect of a BoJ interest rate hike. At the same time, the Japanese services PMI index reached 53.0 - the highest level since September 2024, continuing to support the JPY. Meanwhile, the USD weakened on expectations that the Federal Reserve (Fed) will keep its easing policy.
šÆTechnical Analysis
USDJPY is reacting at the important support zone of 151.000, waiting to see if the fluctuations at the beginning of the week can push the price up from this support zone. If this zone cannot hold, buyers will accept and wait at the price zone of 149.400. The best signals for next week are waiting for the buyers to jump into the market and push the price up to the old breakout zones around 153.700, which is a very strong selling zone and overwhelms the buyers, and the highest zone to watch out for is at 155.800.
ššTrading Signals
SELL USDJPY 153.700-153.900 Stoloss 154.300
BUY USDJPY 149.400-149.200 Stoploss 148.900
USD/JPY fell sharply to 151.300 on expectations that the Bank of Japan (BoJ) will continue its tightening policy. Data showed that nominal wages in Japan increased by 4.8% in December - the highest level in nearly 30 years, while real wages increased for the second consecutive month, reinforcing the prospect of a BoJ interest rate hike. At the same time, the Japanese services PMI index reached 53.0 - the highest level since September 2024, continuing to support the JPY. Meanwhile, the USD weakened on expectations that the Federal Reserve (Fed) will keep its easing policy.
šÆTechnical Analysis
USDJPY is reacting at the important support zone of 151.000, waiting to see if the fluctuations at the beginning of the week can push the price up from this support zone. If this zone cannot hold, buyers will accept and wait at the price zone of 149.400. The best signals for next week are waiting for the buyers to jump into the market and push the price up to the old breakout zones around 153.700, which is a very strong selling zone and overwhelms the buyers, and the highest zone to watch out for is at 155.800.
ššTrading Signals
SELL USDJPY 153.700-153.900 Stoloss 154.300
BUY USDJPY 149.400-149.200 Stoploss 148.900
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.
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.