USD/JPY Outlook (23 May 2022)Earlier thought, I was anticipating for the USD/JPY to move lower, testing and breaking the support level of 127. However, as euro markets open, the USD/JPY has retraced and now looks like it could test round number resistance of 128. This upside move is inspite of a weakening DXY.
A significant retrace above 128 could be likely, however, this would be divergent to the DXY move.
Therefore, with a lack of real directional bias, it'll be better to stay out of the USD/JPY.
Forex-usdjpy
USDJPY: Very Bearish Outlook 🇺🇸🇯🇵
After a long-lasting consolidation, USDJPY leaves a lot of bearish clues:
the price formed a triple top pattern and broke its horizontal neckline to the downside.
I believe that the pair may go lower now.
Next support - 127.6
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USD/JPY: EMA 200 make resistancU.S. Dollar/Yen Japanese it's look bearish from this side. So, we see that it's moving into this bearish channel flag and MACD doesn't have enough strengthen to continue up in H1 timeframe
Meawhile, in H4 we see that we're into this bearish channel in formation as we see this bearish channel flag, we're in the key point to sell
Also, I read that U.S. Dollar fell today in some pars as an uptick in investors' appetite for riskier bets diminished the U.S. currency's appeal. Also, another fundamental analysis that I read recently it's that United Sates considering to block Russia ability to pay its U.S. bondholders that expire next week and this could be another bad expectative that I see in this rumor.
So guys, I'm shorting USD/JPY at $129.48 JPY and my target will be $127.40 JPY (207 pips) and SL to $129.98 JPY (50 pips)
I hope that this idea and analysis support you!!!
Good luck!!!
USD/JPY Outlook (16 May 2022)Since the BoJ's policy adjustment and with the USD/JPY testing 131 over a couple of periods, the USD/JPY has struggled to find significant upside.
Currently sitting below 129.00, look for short term selling opportunities towards the downside, as capital flows towards reserve.
Next support level of 128 and 127
PRZ as double top (M pattern) on USDJPYTheres a double top spotted on the market. The completion has ended and there's a retracement inside the the pattern in which coincides a resistance that has been acting as a support/resistance. Our target will be 126.100. Possibly it will take some days to get to our target, but I think it'll go. Also take in consideration that it could bounce at 127.00.
Do you have any other ideas? Let me know on the comments.
☑️EURCHF: landmark event➡️ The price of the EURCHF currency pair is inside a small upward channel. Locally, the instrument is in an uptrend. Breaking through the resistance level of 1.04027 has become a landmark event for this instrument and hints at the continuation of longs. The nearest growth target is the level of 1.04825.
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USD/JPY LONG MOMENTUM ON DAILY TIME FRAMEThis is the position based on Edger trading system on daily time frame,
This setup is 1:1 RR, entry has to be done on the candle close, the entry can be refined by your own knowledge.
This is only for educational purpose and no financial advice.
BUY STOP ENTRY : 130.858 STOP LOSS : 126.952
TAKE PROFIT 25% : 131.834
TAKE PROFIT 50% : 132.810
TAKE PROFIT 75% : 133.786
TAKE PROFIT 100% : 134.764
FOLLOW RULES:
1. IF TAKE PROFIT 25% HITS, THEN MOVE THE STOP LOSS AT BREAK EVEN AND CLOSE 25% OF THE POSITION.
2. IF TAKE PROFIT 50% HITS, THEN MOVE THE STOP LOSS AT 25% TP LEVEL AND CLOSE 50% OF THE POSITION.
3. IF TAKE PROFIT 75% HITS, THEN MOVE THE STOP LOSS AT 50% TP LEVEL AND CLOSE 50% OF THE POSITION.
4. IF FULL TAKE PROFIT HITS, THEN CLOSE THE TRADE AND ENJOY.
ALSO, HIT LIKE, SHARE AND FOLLOW FOR MORE IDEAS. YOU CAN ALSO RAISE QUESTIONS ON TRADINGVIEW.
USD/JPY Outlook (29 April 2022)The BoJ monetary policy statement release on Thursday morning indicated that "the bank will offer to purchase 10-year JGBs at 0.25 percent every business day" This action of purchasing government bonds resulted in the weakening of the Japanese yen.
On release of the news, the USD/JPY jumped from 128.82 and in 8hours reached 131.00
Officials from the Japanese Ministry of Finance had indicated that with the USD/JPY at 130 and 135, would be a point of concern, as it could affect economic performance.
The USD/JPY has retraced from the 131 level, currently at 129.88, likely due to the DXY retracing.
Look for short term selling opportunities in the USD/JPY towards 129.00 but longer term, look for USD/JPY to test 135.00
USD/JPY (25 April 2022)The USD/JPY is on a significant uptrend, reaching historic high level of 129.40 .
The BoJ had indicated concern if the USD/JPY reaches 130, and a weaker yen would hamper post pandemic recovery.
Because of these, the USD/JPY retraced and bounded from 128.
Currently at 128.56, upside for the USD/JPY is possible but seems limited by the recent 129.40 level
USDJPY Potential bullish rise | 21st Apr 2022Price is abiding by the ascending trendline and is on a bullish momentum. We expect price to have a rise from entry level of 127.912 in line with 61.8% Fibonacci retracement towards the take profit level of 128.611 in line with previous horizontal swing high and 61.8% Fibonacci retracement. If price breaks, it will trigger a dip towards our stop loss level of 127.626 which is in line with 61.8% Fibonacci retracement.
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USD/JPY Outlook (21 April 2022)The USD/JPY is on a significant uptrend, reaching historic high level of 129.40.
The BoJ had indicated concern if the USD/JPY reaches 130, but has also commenced an unlimited bond buying exercise.
Because of these, after reaching 129.40, the USD/JPY has retraced and is currently at 128.
Look for short term buying opportunities back towards the 129.40 and 130 level if price bounces from 128.
Next support level is 127.00
How I'm setting stop losses on USDJPY using IchimokuIn my recent post I indicated that I am long USDJPY due to the higher timeframe bullish trend:
A question that traders often ask is "how do I set a stop-loss when the market is moving up?". This applies if you are looking to enter your first trade in the trend, or if you want to trail a stop-loss on an existing order. The answer is simple when you use Ichimoku.
Briefly, Ichimoku lines indicate the "market equilibrium" over various timeframes. There are three equilibrium lines (or "Han-ne" lines in Japanese). These are:
1. Tenkan-Sen - 9 periods / Short-term equilibrium (yellow on my chart)
2. Kijun-Sen - 26 periods / Medium-term equilibrium (red on my chart)
3. Senko Span B - 52 periods / Long-term equilibrium (red kumo cloud line on my chart)
A Han-ne line is created by finding the midpoint of the highest high and lowest low within the set number of periods. If price is above a Han-ne line, it is said to be bullish in that timeframe, and the opposite for bearish. There is a lot more to learn about Han-ne lines and the meaning of the equilibrium, but for our purposes here, understand that these lines tell you the point where buyers and sellers meet.
One of the reasons we know that USDJPY is bullish is because the Han-ne lines are angled up on the higher timeframes (4H and 1D). This means that the point at which buyers and sellers meet is increasing. In other words: we are trending up!
Now: the secret for setting your stop-loss. If the Han-ne line tells us where the equilibrium is over the short/medium/long term, periods where the line remains flat are significant. If a Han-ne line, especially Kijun-Sen or Senko Span B, remains flat for multiple periods, it means that midprice has been established by many buyers and sellers.
We can use these flat Han-ne lines as:
1. Support/resistance
2. Zones to place stop-loss orders
As I look at a pair like USDJPY trending up, I am zooming into the lower timeframes (think: 15m or 30m) and looking for flat Han-ne lines. If I see several "zones" forming I can place my stop-loss just near the other side of that zone. This means I can receive adequate protection, but also know that if the price does clear that zone and hit my order, a reversal or pullback is likely happening and it will be a good time to exit anyway.
We've already seen a flat Kijun-Sen line act as support on the 15m chart:
You can use this concept for any pair, currency, stock, crypto, etc. The secret is to look for flat lines and use these as your support/resistance levels and stop-loss zones.
Happy trading!
USD/JPY (18 April 2022)Currently at 126.65 the USD/JPY is trending strongly higher (higher highs & higher lows)
BoJ has indicated that "weak yen benefits Japan's economy as a whole" and that they will only be worried if USD/JPY gets to 130
Look for further buying opportunities towards resistance levels of 127 and 128
USD/JPY (11 April 2022)Trend for the USD/JPY is upwards, currently testing the 125.00 resistance zone
Anticipating trend continuation, look for buying opportunities if price closes above 125.00, especially if DXY continues moving towards 100 resistance level.
Next resistance level for the USD/JPY is at 126.00
DXY Hits our Price Target 🤑The DXY has tested 99.40 again, which remained an upper bound for the entire month of March. It was able to break that upper bound, coming just shy of our next target of 99.82. We are seeing a red triangle on the KRI, indicating that we are encountering some resistance. A retracement could take us through 99.40 after which we would encounter a vacuum zone to 98.82, which should provide nice support. Otherwise, we are free to test lows again at 97.73.
USD/JPY (6 April 2022)Overall, USD/JPY is trending upwards and have broken above 123.23. Now approaching round number level of 124.00
With the Bank of Japan indicating;
"May Not Necessarily Be A 'Last Resort' But We Will Offer To Buy Unlimited Amount Of 10-Year JGBs If Rise In Long-Term Interest Rates Is Rapid"
And FOMC members commenting
- balance sheet reduction soon and 'at a rapid pace' (Brainard)
- accommodative policy has to be removed, 50 basis points will be option to consider (George)
Trend continuation for the USD/JPY is highly likely. Look for short-term buying opportunities of USD/JPY towards resistance level 125.00. Next resistance level is 126.00
USD/JPY (5 April 2022)Overall, USD/JPY is trending upwards, but currently still sitting in consolidation at 122.522
Governor from Bank of Japan has indicated;
"May Not Necessarily Be A 'Last Resort' But We Will Offer To Buy Unlimited Amount Of 10-Year JGBs If Rise In Long-Term Interest Rates Is Rapid"
A short term retracement towards next support zone of 121.70 seems unlikely now.
Instead, look for trend continuation if price breaks above 123.234 towards 125.00
Look for short-term buying opportunities of USD/JPY back towards resistance level 125.00
☑️SILVER: towards 25.53950➡️ Metals are prone to growth in the conditions of hostilities in Ukraine. After the weekend, the situation only escalated, thus significant losses for Silver and Gold are unlikely.
Technical analysis supports this idea in the long for the specified trading instruments. At the moment the price is inside the balance 24.58185 - 25.53950 . At the end of March, a promising false breakout was made, which sends buyers to the upper limit of the indicated range. Partial profit-taking, or at least moving to breakeven, is best done after the price reaches the level of 25.07730 (intermediate target).
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USD/JPY (4 April 2022)Overall, USD/JPY is trending upwards, reaching historic key level of close to 125.00. But despite this upward move, USD/JPY has retraced and is currently at 122.50
This was partly a result of the the Bank of Japan indicating unlimited buying of 10yr JGBs at 0.25% over 4 days and some level of peace talks over the ongoing Russia-Ukraine war.
USD/JPY’s next support zone is at 121.70 and the next resistance zone is at 123.23 and 125.00.
Look for short-term selling opportunities of USD/JPY back towards support level.
VIEWING STRENGTH OF THE YEN !From last month's price movement, it can be seen that the yen is very weak due to inflation and all the problems in the country. however, it is starting to become clear that sellers are starting to dominate the current market trend. the best opportunity to trade on usdjpy currency is to wait for the price to enter the area, as I have described.
there are several fresh areas (supply) and fresh areas (demand)
always see if there is a price rejection or not.
☑️GOLD: again to 1959.405➡️ In anticipation of Friday's NFP data release, the price of gold is not showing a clear directional bias. The further direction of gold prices will depend on the results of the report on the US labor market and, to some extent, the results of peace negotiations.
The US NFP report, however, will be the main market driver for gold as it sheds new light on the Fed's interest rate outlook.
Technically, the metal is in balance 1917.520 - 1959.405 . As suggested in the previous idea, the metal rose by 1959.405. At the moment, the instrument has rebounded, but it is expected to rise again to 1959.405 within the uptrend channel. There is a potential for a breakdown upwards, but one need to be extremely careful and monitor the price already at the moment, since there is a resistance area.
🔥 GOLD Forecast Results 🔥
☑️GOLD: to 1917$ again 👉 +330 points ✅:
☑️GOLD: buyers at the ready 👉 +418 points ✅:
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US Dollar Faces Resistance and Choppy TradingThe US dollar has seen choppy trading this week. We made a run for highs, but found steep resistance at 98.82. We are seeing progressively lower highs, with a consistent lower bound at 98.73 suggesting that we might be forming a bear wedge pattern on a larger scale. If so, we would anticipate the price to test 97.89 or 97.73 again soon. If we are wrong and the price breaks out, then 98.82 must be broken then highs at 99.40. After that, our next target is 99.82.
TS ❕ GBPUSD: good long positionLong remains valid. From the support level 1.31960, you can open a good long position towards the level 1.34110.
BUY scenario: Long from 1.31960 or after breaking through the level of 1.32530.
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Remember, there is no place for luck in trading - only strategy!
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