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Dollaryenshort

usdjpy is throwing bearish reversal signalsThe dollar has been very strong versus the Yen lately. Price has reached yet another high and i believe its like to retrace bearish. The sellers have stepped in a provided some indecision and buy exhaustion. The blue 8 exponential moving average crossed to the dowside below the 21 simple moving average and price began a minor downtrend. This usually occurs before a breakout and upon a retest of that bearish candle that initiated the downward movement. I'm awaiting a re-test of $13.868- $144.155 so signal if price would like to continue bullish intraday or retrace bearish and sell for lower lows now.
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by DesharedPierreJr.
USDJPY in a bearish divergence pattern: eyes on 134.5 supportThe USD/JPY daily chart shows a bearish divergence pattern as prices surged to new 20-year highs this week, while the relative strength index (14-day RSI) declined significantly from overbought levels. The Moving Average Convergence Divergence (MACD) is nearing a bearish crossover, as the MACD line (blue line) is sloping lower and may intersect the signal line (orange line) from above. The focus is now on the 134.5 support level, which if violated might result in further USD/JPY drops. The dollar-yen exchange rate fell below 135 levels at 14:15 UTC, down by 0.9% on the day. Year to date, the yen has lost 17% of its relative value to the dollar. In the fundamental picture, the need to control inflation through aggressive hikes in interest rates is the main factor causing concerns about an impending recession in the U.S.. Fed futures are now pricing rates at 3.5 percent by the end of the year, while the yield on the US 2-year Treasury note has dropped below 3%, down from 3.5 percent last week. It is a sign that the market has not lifted its expectations for interest rates following Powell's speech yesterday, and instead perceives the possibility of a Fed that will halt rate hikes in the case of a recession. There is no surprise from the Bank of Japan, and in the short term, we shouldn't expect a big shift toward more restrictive policies. But some former policymakers, like Takehiko Nakao, a former head of foreign exchange policy at the Finance Ministry, flagged that an extremely weak yen is negative for the Japanese economy. Traders are now waiting for the publication of the June US PMIs. The manufacturing PMI is predicted to fall to 56.5 from 57 in May, while the survey for the service sector is expected to rise to 53.5 from 53.4 in May. Read more...
by Capitalcom
Possible Reversal for USD/JPY ???Hello Folks, The Dollar-Yen pair has been rallying quite strongly since the last couple of months due to tension between Russia and Ukraine & now with the Interest rates cranked up to 75 basis points, the Dollar would gather more strength for the Bulls. But with Technical Analysis, we can see that 3 peaks or 5 waves have been completed and there can a strong possibility for at least a retracement (a-b-c formation) or even a reversal. Keep an eye on the pair and trade wisely. Make sure you risk appropriately. Cheers..!!!
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by TraderRaptor
USDJPY AFTER PEAK IT'S TIME TO DIPTraders confidence has fallen since the Federal Reserve surprised markets last week by being unexpectedly hawkish. And that has boosted the US Dollar all round and, while it is now off its highs, it continues to look firm against the Japanese Yen. The price is in a parallel channel and has reach the peak and found resistance. There is a warning signal though from retail trader positioning data, which are sending out a contrarian bearish signal on USD/JPY . The Bearish target is to 110.00 and EMA200 can confirm this.
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by legacyFXofficial
4
USDJPY Selli Hi Traders, Dollar-Yen is on a strong resistance and it has bounced off the resistance, its good indicator that the market is going to sell from the current level, you preferably you may wait to retest again the respected level of structure and watch a price action there if the market again respects that level its great chance to shorten this pair next week: Here is my setup: USDJPY Sell at 109.65 Stop Level at 110.15 Target Level at 108.50 Good Luck guys ;)
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by sirkamal