Get started

Dollar-yen

USDJPY NOW BULLISH ABOVE 112.80 LEVELThe US dollar has soared to a new six month trading high against the Japanese yen currency, as FED Chair Jerome Powell’s bullish comments on the US economy and future rate hikes lifted the US dollar. The move higher in the USDJPY pair has scope to run higher if buyers can keep price above the 112.80 level, which is former key resistance now turned support. USDJPY buyers will target further upside towards the 113.40 level, while sellers will look to break the 112.80 level. The USDJPY pair is strongly bullish while trading above the 112.80 level, upside targets are found at the 113.40 and 113.88 levels. If the USDJPY pair moves below the 112.80 level, sellers may test towards the 112.55 and 112.20 support levels.
by OctaFX_Official
USDJPY STRONGLY BULLISH ABOVE 111.39 LEVELThe US dollar had moved to its highest trading level against the Japanese yen currency since January this year, as buyers finally breached the important former swing-high, at 111.39. The strong technical breakout has provoked a fresh wave of buying in the USDJPY pair, with price now trading above the 112.00 level. The bullish sentiment surrounding the pair is likely to remain intact while price holds above 111.39 level. The USDJPY pair is now strongly bullish while trading above the 111.39 level, key resistance is found at the 112.40 and 113.10 levels. If the USDJPY pair moves below the 111.39 level, sellers will likely test towards the 111.00 and 110.80 support levels.
by OctaFX_Official
USDJPY BREAKOUT!The USDJPY is breaking out of a multi-month triangle. I have entered a long position with a stop below this week's open. I was specifically waiting for this breakout to enter, which I consider just a small addition to my 'long dollar' portfolio. My major shorts are EURUSD, and GBPUSD. If the breakout holds, I will begin to build a larger position in USDJPY. My targets are the swing high zones at 118 and 125, with a 'fantasy target' of 130. As Europe crumbles, and the UK commits suicide, the world is starting to realize that the US Dollar is the only game in town. Now it's the JPY's turn.
Long
by TheRealPeaches
USDJPY MOVING LOWER AFTER TECHNICAL FAILUREThe US dollar is starting to turn lower against the Japanese yen currency after buyers failed to break above the key May monthly-high, at 111.39, on Tuesday. The USDJPY pair has now turned back towards the 110.80 support level, as intraday sellers test towards the top-end of the pairs previous trading-range. Buyers will look to reclaim the 111.00 handle, while sellers will look to push price below the key 110.80 support level. The USDJPY pair is only bullish while trading above the 110.80 level, key resistance is now found at the 111.00 and 111.39 levels. If the USDJPY pair moves below the 110.80 level, sellers will be encouraged to test towards the 110.45 and 110.25 support levels.
by OctaFX_Official
USDJPY NOW INTRADAY BULLISH ABOVE 110.80The US dollar has finally broken its recent short-term trading-range against the Japanese yen between the 110.25 and 110.80 levels, moving back above the key 111.00 resistance level. The USDJPY pair is being boosted by a return to risk-on trading sentiment and a strong move higher in global equity market prices. Buyers will look for further upside above the 111.40 level, while sellers will look to move price back below the 110.80 level. The USDJPY pair is strongly bullish while trading above the 110.80 level, key resistance is found at the 111.40 and 112.20 levels. If the USDJPY pair moves below the 110.80 level, sellers will likely test towards the 110.45 and 110.25 support levels.
by OctaFX_Official
Is USDJPY Ready to Rally Again?USDJPY has been in a strong downtrend since the end of 2017 and analysts expect this trend to end soon but there is a real possibility of this pair continuing downwards in the short term before finding support. The dollar index saw around a quarter percent gain last week after some choppy trading following the release of employment data on Friday. The non-farm payrolls for February came in much higher than expected, with the figure being the highest seen in 18 months at 313,000. However, both the monthly and yearly wage increases were lower than expected, easing fears that the Fed’s inflation target would be met sooner than predicted. The unemployment rate also missed forecasts and remained the same as January after a large increase in the labour force. In terms of monetary policy, this data does very little to change that and the Fed remain firmly on course for three rate hikes this year. The potential of a fourth hike remains but we would need to see stronger wage growth in the coming months for traders to really start pricing this in. As pointed out by the Fed’s Kashkari, this NFP report suggests that we are not at full employment in the United States as other Fed members and analysts have been suggesting. When we do close in on a full employment level, we would expect NFP figures to get lower along with an increase in wages which would show that employers are competing for a scarce workforce. Fed’s Brainard, generally considered a dove, also spoke during the week and she was optimistic about the economy. She also mentioned that gradual rate hikes would be appropriate. This follows on from the testimony given by Fed Chair Powell a couple of weeks ago in which analysts interpreted the hawkish tone and the term “gradual” to mean that four hikes was certainly possible for the year. Fed’s Evans also spoke to Bloomberg TV during the week and pointed out that usually during a recession, the Fed lowers rates by around 500 basis points. When the Fed began hiking rates, it was expected that the aim would be to get rates to around 3-4%. However, Evans’s statement suggests that the Fed may be looking for an additional 50-100 basis points to give them more room. Although we are quite a distance away from these levels, this will be worth keeping in mind in about a year from now. In addition, reports during the week showed that Japanese investors have recently been investing more heavily into the European bond market whilst withdrawing investments from the US bond market. There are also fears of China selling their US bonds or halting purchases. US debt is expected to significantly increase over the coming months and years and with the Fed also unwinding, a lack of buyers in the US treasury market could force an increase in rates. Meanwhile, in Asia, the Bank of Japan are sticking with their dovish policy stance and there is little sign of this changing anytime soon. One central bank member was against this policy stance and actually suggested that the markets should be warned of potential further monetary policy easing if required. Overall, the statement and GDP figures from earlier in the week suggested that the central bank are satisfied and optimistic on growth but they also have no intentions to make changes to the policy until their inflation target of 2% is hit. The Bank of Japan expects to hit this target by mid-2019 but the majority of analysts think it could take much longer. Our opinion on this pair is that it will move upwards but a further pullback towards the 100.00 handle is possible. The key levels for this pair over the next few weeks will be 108.00 and 105.00. If price was able to break the 108.00 level, we could see the start of a long term move upwards. If 105.00 was broken, we would then expect the price to move towards 100.00 before making a long term reversal.
Long
by priyesh
USDJPYThose who have watched my videos on YouTube for the last few months have seen that I've been on top of this pair all along. The move higher from 107.30 was called corrective by me and therefore the bias bigger picture was stil bearish and not bullish. The short from 113 was not expected by most traders but it was phenomenal and explained in detail prior to the move, the dollar correction vs all majors was called BUT I said; the USDJPY has unfinished business and will continue lower where the dollar will gain strenght vs the other majors. The bigger picture has not changed during that time. However, I do not only look at patterns because that might result in several valid patterns. This is where I differ from others and this is something you hardly learn as a retail trader. So short term traders (scalpers/intra day traders) could have shorted USDJPY every single time by means of trading with the trend 'aka' the way of least resistance. The longer term traders did not have to close their profitable short trades. So hope that helps for those asking me how you could trade a move lower with so many overlaps, simply it depends on your style, swing or scalp. Selling low and hold is not either of the two styles. Buying was a waste of time up to the moment that the minimum requirements are fulfilled. Those minimum requirements have been fulfilled and I will be looking for the move higher for what I label to be wave C. The bottom for what I label 'B' is not yet confirmed so I described both scenario's in the 1hr chart, short-medium term. Safe trades!
by TimStuyts
5