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USDJPY is once again approaching the 160 levelJapanese officials recently intervened in the foreign exchange market as the USD/JPY exchange rate approached the 160 level. However, this time the upward movement has been more gradual and less volatile, prompting no action from Japanese officials. The USD/JPY pair is currently trading above 157.00 and has rebounded strongly off the 50-day SMA in early May. The issue of yen weakness is likely to persist due to the significant interest rate differential between the United States and Japan, supporting the carry trade.
by Xayah_trading
1
USDJPY forming a downtrendThe risk of Japan raising interest rates combined with recent suspected intervention in the foreign exchange market has supported the Yen's recovery. If US second quarter GDP and June PCE data are unimpressive then OANDA:USDJPY is expected to continue to decrease. Even though S&P Global announced on the same day that the US Composite Purchasing Managers' Index (PMI) for July rose to 55.0, the highest since April 2022, the market is still continuing to short USD/JPY ahead of the Bank of Japan meeting. On the daily chart, since OANDA:USDJPY broke below the price channel and found bearish conditions taking price activity below the EMA21 and below the 0.236% Fibonacci retracement level, it has formed a trend channel. decreasing direction. In the short term, the fact that USD/JPY remains in the price channel and is below the 0.382% Fibonacci level shows that there is still room for price decline to continue towards 151.128, the price point is the confluence of the lower edge of the price channel. and the 0.50% Fibonacci retracement level. As long as USD/JPY remains in the price channel, the short-term trend will still be downtrend, on the other hand if USD/JPY falls below and breaks below the 0.50% Fibonacci level, a new short-term bearish cycle will be in place. opens with further targets at 148.570. During the day, the bearish outlook for USD/JPY will be highlighted by the following technical levels. Support: 151,875 – 151,128 Resistance: 153.119 – 153.685
by Xayah_trading
USD/JPY Falls Below 150 Yen per DollarUSD/JPY Falls Below 150 Yen per Dollar The yen was last this strong in mid-March this year. News from central banks contributed to the decline in USD/JPY. Yesterday, the Bank of Japan raised interest rates to levels not seen in the past 15 years. Conversely, the Fed kept rates unchanged as expected but "opened the door" for a possible cut in September, according to Reuters. This news weakened the USD and provided a bullish boost to U.S. stock markets. This shift highlights the collapse of the "carry trade" strategy, where high U.S. rates and low Japanese rates supported the rise of USD/JPY. From early 2023 to the July peak in 2024, USD/JPY rose by about 23%, but it started declining amid news of Bank of Japan's currency interventions. On July 25, analysing the USD/JPY chart, we: → Constructed a descending channel (shown in red); → Predicted a scenario with a technical rebound from the lower boundary of the red channel. Since then, USD/JPY climbed to the psychological mark of 155 yen per dollar on July 30, where the downtrend resumed after a false breakout. How might the USD/JPY situation develop? Technical Analysis of USD/JPY Today: → The chart forms a structure of swing extremes A-B-C-D-E-F-G. Notably, each subsequent recovery is about 50% of the previous downward impulse, indicating dominant supply forces. The expanding channel, shown in purple, also confirms this. → The psychological level of 150 yen per dollar may act as support, mirroring the resistance at 155 yen. Today's price action shows signs of demand activation below 150. Therefore, it's possible that: → After a decline of over 8% from peak A, bears may want to take profits; → A corrective move H→I towards the upper purple boundary could form. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
2
USDJPY took a breather on ThursdayFollowing a robust rally earlier in the week, USDJPY took a breather on Thursday, displaying a lack of clear direction but maintaining a steady position above 155.00. If gains resume, resistance looms at 158.00 and 160.00 thereafter. Traders, however, must view movements towards these levels with caution, as Tokyo may step in again to support the yen, which could precipitate a swift reversal. On the flip side, if the bullish scenario fails to materialize and prices begin to head lower, the first support to keep an eye on appears at 154.65. On continued weakness, all eyes will be on 153.15, followed by 152.30-152.00, an important technical range, where the 50-day simple moving average aligns with a medium-term ascending trendline.
by Xayah_trading
USDJPY surged to multi-decade highs around 154.80Earlier in the week, USDJPY surged to multi-decade highs around 154.80 before retracing slightly from those lofty levels as the weekend approached. If the downward reversal gains traction in the upcoming trading sessions, support looms at 153.20 and 152.00 thereafter, with 150.80 possibly becoming a focal point if these price thresholds are breached. On the flip side, if USDJPY resumes its climb, resistance is likely to materialize near 154.80, followed by 156.00, the upper boundary of a short-term rising channel in place since December of last year. While the pair maintains a bullish outlook, it's essential to proceed with caution given the overbought market conditions and the increasing probability of FX intervention by the Japanese government.
by Xayah_trading
Analysis of USD/JPY: Yen Strengthens by 5.5% Against US DollarAnalysis of USD/JPY: Yen Strengthens by 5.5% Against US Dollar in 2 Weeks On Thursday, 11 July, the USD/JPY exchange rate was above 161, and today it is below 153. According to Reuters, this could be attributed to effective intervention by the Bank of Japan. While intervention was anticipated when the yen weakened to extreme levels not seen since 1983, Tokyo authorities were cryptic in their comments, maintaining uncertainty, making it harder for investors to predict when and how they might intervene. As indicated by today's USD/JPY chart: → The ascending trend channel (shown in black) that has been in place since 2023 is losing its relevance. → Red circles indicate pivotal points where significant price action occurred, helping to define the contours for a descending channel (shown in red). → The USD/JPY rate is near the lower boundary of the red channel. According to technical analysis, this boundary tends to act as support for the price – a bullish argument suggesting that the decline might slow down here. Whether there will be a rebound from the lower line of the descending channel or the bears will manage to break through the 152 level (where the price found support in May) will largely depend on next week’s news: Tuesday will bring reports on inflation and unemployment in Japan, and Wednesday will see statements from the Bank of Japan regarding the interest rate. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
2
USDJPY with an uptrend, conditions towards the peak of the eraThe Bank of Japan said last Friday that it would begin reducing its bond purchases, but the reduction remains limited. So, from a fundamental perspective, this is not stimulating the Japanese yen at all. Show transactions OANDA:USDJPY is still watching for signs of how the Japanese government will intervene to support the yen to continue its appreciation. Meanwhile, the USD will still be strong because the market is pricing the Fed will only cut interest rates once this year, and Fed officials are sending hawkish messages about "high interest rates for a while". longer". Technically, the bullish structure of OANDA:USDJPY there are no changes compared to previous publications sent to you. Temporarily, USD/JPY is limited by the technical level of 158.011 and once USD/JPY maintains above this level, it will provide conditions for USD/JPY to continue to increase towards its all-time peak. Regarding the overall picture, USD/JPY still has the main trend of increasing prices with the price channel (a) being noticed as the main trend and the EMA21 moving average as short-term support. As long as USD/JPY is still trading with the above support levels, the bullish trend should not change and each pullback should only be considered a technical correction. USD/JPY's uptrend will be noticed again by the following technical levels. Support: 157,224 – 156,657 Resistance: 158.011 – 160.236
by Xayah_trading
USDJPY adjusted sharply downTaking advantage of the weak US consumer price index (CPI) on Thursday to push the US Dollar down in price on the foreign exchange market, the Japanese government intervened, causing USD/JPY to plummet. The amount of intervention by the Japanese government that day amounted to 3.57 trillion yen (22.43 billion USD), less than 3 months since the last intervention. Friday's move in USD/JPY could be the result of continued intervention. It seems that the Bank of Japan will take advantage of good opportunities from time to time (for example, when major US economic data is released and the market takes advantage of the dollar's devaluation trend) to conduct unusual intervention. to achieve goals quickly, with accurate results and save costs. However, to substantively change the trend of the Yen, it still depends on whether the Bank of Japan can resolutely take some major measures, such as stopping bond purchases or significantly increasing interest rates at the meeting. interest rate meeting at the end of July, which could completely reverse the yen's downtrend. If the Japanese government remains cautious about the major issues mentioned above, it will be difficult for the Yen to recover. On the daily chart, although USDJPY has moderated significantly, it still does not technically qualify for a bearish trend. Specifically, USD/JPY's decline was limited by the technical level of 157.224 and the 0.382% Fibonacci extension; On the other hand, the Relative Strength Index has not yet reached the oversold level but is curving upward, showing that the downward momentum and room for price declines is not too much. However, a drop below the EMA21 also creates pressure on the price increase, while the nearest resistance level is noticed at the 0.50% Fibonacci level confluence with the lower edge of the price channel (a). If USD/JPY can recover above the 0.50% Fibonacci it will have the potential for a further recovery to the EMA21 area. As long as USD/JPY is not sold below 157 it still has room to rise technically, in case it is sold below 157 it will be more bearish with 155 as the next target, So the point to protect the long position should be placed behind the level 157. Looking ahead, the technical trend of USD/JPY still offers upside with notable technical points listed as follows. Support: 157.224 – 157.209 – 157 Resistance: 158.616 – 160.204
by Xayah_trading
1
USD/JPY Forex Analysis: Key Levels and Trading Opportunities✨Welcome to my channel! Here, we analyze a new crypto project or Forex pair every day. 📅 Let's dive into today's analysis, focusing on the USD/JPY Forex pair. ⌛️ Weekly Timeframe In this timeframe, USD/JPY has shown significant movements. Recently, it saw an upward trend reaching a peak of 161.384, which was a critical resistance zone. Following this, the price entered a correction phase with lower volume, suggesting the strength of the previous upward trend. Currently, USD/JPY is at a support level of 151.341 after a correction phase. 📈 If USD/JPY stabilizes above 161.384, we can anticipate a bullish momentum potentially pushing the price towards the next resistance at 170.000. Confirmation of a new upward trend will depend on candle stability above this level. 📉 Conversely, if USD/JPY falls back into the range between 151.341 and 161.384, and stabilizes below 151.341, it indicates a bearish trend continuation. The next critical support level would be around 140.894. 📊 In both scenarios, volume analysis is crucial. A healthy trend should be supported by corresponding volume without any divergence. ⌛️Daily Timeframe 🔍 On the daily chart, USD/JPY ranged around the 161.616 level before initiating another downward wave. Currently, there is noticeable bearish momentum, and the price has found temporary support at 154.814. 🧲 Given the current setup, a stabilization below 154.814 could signal another bearish wave. On the flip side, if the price moves above 161.616, it could indicate the start of a bullish trend, targeting higher resistance levels. ⌛️4-Hour Timeframe 📈 In the 4-hour timeframe, USD/JPY has pulled back to the SMA99 and reached the resistance at 157.746. Volume analysis shows a decrease, indicating potential exhaustion of the recent upward movement. 📉 For short positions, the key levels to watch are 157.746 and 159.188, where price reactions could provide better entry points. For long positions, critical levels are 154.740 and 152.200. 💥RSI Oscillator The RSI is currently ranging between 40.38 and 57.16 on different timeframes. Breaking these levels could provide confirmation for opening positions. However, always use these levels in conjunction with candle patterns and volume analysis to find the best entry and exit points. 📉Summary Given the current bearish signals in the daily and 4-hour timeframes, alongside the potential trend change in the weekly timeframe, I am inclined to open a short position. However, this is based on my trading strategy. Each trader should base their decisions on their strategies and risk management plans. ⚠️ Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a pair you'd like me to analyze next.
by itsparham96
1
USD_JPY SUPPORT CLUSTER|LONG| ✅USD_JPY made a massive Move causing some Serious pain on its way down but This correction was a long Anticipated one because the pair Was overbought so after The local "flash-crash" the Pair hit a support cluster of The horizontal and rising Support lines around 157.445 And made a bullish rebound So as we are still bullish biased On the pair mid-term we will Be expecting a further local Move up from the rising support Towards the target above around 159.500 LONG🚀 ✅Like and subscribe to never miss a new idea!✅
Long
by ProSignalsFx
4