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EURJPY

usdjpy 1000 pips planthe USD/JPY pair hovers around 147.50 after retracing from 147.70 during the early European trading hours on Friday. Meanwhile, the US Dollar Index (DXY) trades near its highest daily close since March near 105.30, supported by the robust US economic data. Market players will take cues from the preliminary University of Michigan (UoM) Consumer Confidence survey ahead of the Federal Open Market Committee (FOMC) meeting thisweek. On Thursday, the Bureau of Labor Statistics revealed that the August Producer Price Index (PPI) grew 1.5% YoY from 0.8% in the previous reading and above the expectation. The annual Core figure fell from 2.4% to 2.2%. Meanwhile, Retail Sales grew by 0.6% MoM in August, beating estimations of 0.2%. Furthermore, the US Department of Labor reported that weekly Initial Jobless Claims totaled 220,000 from 217,000, below the market consensus of 225,000. These figures indicated that the US economy remains resilient and inflation rebounded in August. However, the Federal Reserve's (Fed) monetary policy expectations were not significantly altered by these figures. Markets anticipate that the Fed will maintain its interest rate at its meeting scheduled for next week. In the meantime, the hawkish stance from the Fed remains in favor of US bond yields and USD for the time being. On the Japanese Yen front, the Bank of Japan (BoJ) policymaker stated that an exit from an ultra-easy policy will not be considered as long as wage and inflation data do not meet expectations, leaving the JPY vulnerable against its rivals. On Thursday, Japan’s Machinery Orders fell 13% in July versus -5.8% prior On a monthly basis, the figure dropped 1.1% from a 2.7% rise in June. Both figures came in below the market consensus. Despite the dovish tone of BoJ officials, the disappointing data fails to lift the Japanese Yen (JPY). Market participants will monitor the release of the US Empire State Manufacturing Index, Industrial Production, and the University of Michigan Consumer Confidence survey. These figures could offer hints about the peak interest rate by the Federal Reserve (Fed) for the rest of the year ahead of the Fed meeting this week
Short
by Ttrade-With-Logic
Bullish Momentum in Focus!Trading on the Euro Yen has been on a bullish trend, with some market consolidation due to the over-extended movement. To take advantage of this trend, we recommend buying at support and selling at resistance, which can potentially produce a profit potential of 170pips on the 4-hourly chart. On the daily chart, we have just broken the very aggressive and trending bullish trend line, but there are other trend lines that can offer a buying opportunity. However, we suggest waiting for a selling opportunity at 158.49 and a buying opportunity at 156.79 on the 4-hour chart, where there is a precise entry point for a bullish run. With an initial stop-loss at 156.33 and the first target at 157.35, this trade can be engaged on the 1-hourly chart at 156.82. It is important to note that this is not trading advice, and investors should do their own analysis and not follow blindly.
Long
by RaynLim
EURJPY, Ascending-Wedge-Formation, How It Completes Next!Hello, Welcome to this analysis about EURJPY, we are looking at the hourly timeframe perspectives, and as I discovered EURJPY is developing some very interesting formational structures these times that can lead to a major confirmation in the structure and in addition to that a potential trade opportunity to move forward with. As when looking at my chart now we can watch there how EURJPY has moved on establishing this preliminary ascending-wedge-formation marked with the blue boundaries. In this formation, EURJPY has the confirmational wave-count with the waves A to E finalized in the formation and therefore technically the wave-count-completion of this formation-structure. Besides that EURJPY recently also closed deliberately below the 25-EMA marked in red in my chart below which it is consolidating and marking it as resistance. When the supply in the structure increases further in the near future and EURJPY finally breaks out below the lower boundary of the formation this will complete the whole formation and activate downside targets seen in my chart with the blue line at the 129.3 level, once these targets are reached EURJPY needs to show how it continues from there further. For now a completion of the whole wedge-formation should be expected, this can be traded either aggressive with an immediate entry in the formation or conservative with entry after the breakout has shown up, although the aggressive approach is also possible the conservative will be much smarter, it will be an interesting development ahead. In this manner, thank you for watching my update-analysis about EURJPY and the main ascending-wedge-formation likely to complete and be the origin of downside price-action in the upcoming times, great when you support it with a like and follow or comment for more market insight! Information provided is only educational and should not be used to take action in the market.
by VincePrince
25
EURJPY Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Short
by ShahedZare
Strifor || USDJPY-09/14/2023Preferred direction: Neutral Comment: The Japanese yen is starting to gradually move into the top topics against the backdrop of recent statements from the Bank of Japan, a change in the head of the central bank, and, in general, a likely change in policy from soft to more hawkish. The fall may very well be approximately from the current levels, but most likely it is better to wait for a false breakout of the level of 147.816 (this is option No. 1), and after that go short. Also, option No. 2 is not excluded, in which the price will reach the level of 150. Thank you for like and share your views!
by Viktor_strifor_analyst
3
eurjpy selling and buying opportunityThe Japanese Yen pushed higher in Asian trade after Bank of Japan governor Kazuo Ueda suggested that the central bank may start to shift away from its ultra-loose monetary policy if inflation begins to move to target. Governor Ueda said that the central bank may have enough data by the year-end to shift away from negative bond rates, adding that the central bank may have ‘underestimated’ the increase in inflation. Any shift away from the BoJ’s ultra-loose monetary policy, however minor, will leave the Japanese Yen vulnerable to a sharp move higher, especially after the currencies’ multi-month weakness against a range of G& peers. USD/JPY is moving lower today, aided by both a mildly hawkish BoJ and a weaker US dollar. Over the weekend an article in The Wall Street Journal by closely-followed Fed-watcher Nick Timiraos suggested that the Federal Reserve will keep rates unchanged later this month and will take ‘a harder look at whether more (rate hikes) are needed’ in the coming months. There is now a Fed-speak blackout ahead of the September 20th FOMC meeting, leaving the US dollar vulnerable to further downside. Later this week, the release of the August US inflation report will drive price action going into this meeting. USD/JPY sold off into the 20-day simple moving average in the Asian session before making a partial recovery to currently trade unchanged on the day. The cluster of recent highs around 147.87 look as though they will remain untested, in the short-term at least, ahead of Wednesday’s US CPI release. Support is seen at 145.06.
Short
by Ttrade-With-Logic
EURJPY Is it time to go short?On EURJPY, we can observe a bullish setup following a breakout of a bearish trendline. The price has breached a significant swing high at the 157.70 level, creating a buying zone, as seen on the chart. This zone might also lead the price to retest the trendline. Furthermore, the price around 158.44 appears to have made highs during the Asian session and seems to have made a false breakout with the last 4-hour candle at a swing high level of 158.50. My objective will be to look for short-term trading opportunities during the London session. I'll keep an eye on this currency pair only in the morning and it will be the only one I'll monitor at least until noon when we have the U.S. CPI data. Let me know what you think, happy trading, everyone.
Short
by Forex48_TradingAcademy
3
Double top on EUR/JPY hourlyLast week we outlined a bearish bias on the daily EUR/JPY chart, due to its elongated bearish candle below 160 following an established RSI divergence on the daily chart. The 1-hour chart shows a strong move lower from the August highs, followed by choppy price action and a lame attempt to recoup half of the losses sustained from the initial drop - which suggests it is a corrective move. momentum has turned lower on the 1-hour chart, so the bias on the 1-hour chart remains bearish below 158.53 and for an initial move to 157.80. We also expect lower prices given the structure on the daily timeframe.
Short
by CityIndex
EURJPY Will Go Higher! Buy! Please, check our technical outlook for EURJPY. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 157.335. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 159.222 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
EURJPY posted a bullish hammer bottom.EURJPY - 24h expiry Posted a Bullish Hammer Bottom on the Daily chart. This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher. The hourly chart technicals suggests further downside before the uptrend returns. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Further upside is expected although we prefer to buy into dips close to the 157.45 level. - We look to Buy at 157.45 (stop at 156.93) Our profit targets will be 158.75 and 159.05 Resistance: 158.05 / 159.85 / 160.80 Support: 156.60 / 155.50 / 154.70 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
EurJpy could lose supportSince the end of February low under 140, EurJpy rose strongly, more than 2000 pips and almost touching 160 important figure. In August, the pair consolidated, and this consolidation could very well be distribution. Now the pair is trading under 157 zone support and a daily close under this support could lead to further losses. As long as the 158.70 high is intact I'm looking to sell rallies with a target at 154 support. In the medium term, however, the pair could drop even to important 151.50 support.
Short
by Mihai_Iacob
10