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Forex-usdjpy

Elliott Wave Suggests Short Term Bullish Outlook in GBPJPYCycle from 1.3.2023 low is in progress as a 5 waves impulsive Elliott Wave structure. Short Term Elliott Wave Chart below shows that wave (2) ended at 165.4 and pair resumes higher in wave (3). Internal subdivision of wave (3) unfolded as another impulse in lesser degree. Up from wave (2), wave 1 ended at 167.72 and pullback in wave 2 ended at 166.37. Pair resumes higher again in wave 3 towards 172.09 and dips in wave 4 ended at 170.98. Final leg wave 5 ended at 172.33 which completed wave (3). Dips in wave (4) took the form of a double three Elliott Wave structure. Down from wave (3), wave ((w)) ended at 169.94, wave ((x)) ended at 170.54, and wave ((y)) ended at 169.13. This completed wave W. Rally in wave X then ended at 170.37. Pair resumes lower in wave Y with internal subdivision as a zigzag. Down from wave X, wave ((a)) ended at 168.63, wave ((b)) ended at 169.53, and wave ((c)) ended at 168.02. This completed wave Y of (4). Pair has turned higher again wave (5) as an impulse. Up from wave (4), wave ((i)) ended at 169.387 and dips in wave ((ii)) ended at 168.8. Wave ((iii)) ended at 170.87, pullback in wave ((iv)) ended at 170.3, and final wave ((v)) ended at 171.07 which completed wave 1. Pair is now correcting cycle from 5.5.2023 low in 3, 7, or 11 swing within wave 2 before the rally resumes again. Down from wave 1, wave ((a)) ended at 170.17 and wave ((b)) ended at 170.61. Expect wave ((c)) lower resume and as far as pivot at 168.02 low stays intact, pair should resume higher again afterwards.
by Elliottwave-Forecast
1
USDJPY (Is the whole world scramble for collateral?) View On USDJPY (19 Apr 2023) UJ is in * Uptrend in short term (Intraweek) * Uptrend in Mid term (Intramonth) * Uptrend in Long term (Last 3 months) Now UJ has managed to stay above 130 and we need to watch 134.8x region closely. Once the break out is strong, we shall easily see 136 region. 140 will be the next. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading crypto, foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
Long
by SonicDeejay
USDJPY 15M 20/04/2023Currently, in the 15-minute timeframe, the price is hovering within the range of 134.354 to 134.262. We can expect the price to continue to move within this range until it reaches the closest liquidity target at 134.017. This target is the point where we could expect a significant amount of buying or selling activity. However, if the price does not reach this target, we could potentially see a reaction in the range of 134.829 to 134.670. This range represents a potential area where buyers or sellers may enter the market, and traders should monitor this range closely for any potential trading opportunities. Overall, the text highlights the importance of identifying key price levels and liquidity targets in the market, and being aware of potential reactions or trading opportunities in these areas. Traders should always exercise caution and make informed decisions based on market conditions and their individual trading strategies.
by mdr300896
USDJPY Outlook 11 April 2023With the overnight strength of the DXY, the USDJPY climbed steadily to the upside, as the price approached the 134 round number resistance area. Weakness in the Japanese Yen was also compounded by the statement from the new BoJ Governor Ueda, indicating that large scale monetary easing policy will continue. This was in contrary to the market anticipation that Governor Ueda could trim back on easing. While the USDJPY retraces from the resistance level, look for the price to bounce from either the 23.60% fib level which is also the 133 round number level, or more likely at the 132.60 price level which is the 38.20% fib level and the upward trendline providing support. Further upside on the USDJPY could see the price climb steadily toward the 135 key resistance level.
Long
by JinDao_Tai
USDJPY Outlook 27 March 2023Initial expectation was for the USDJPY to break below the 130 support level and trade significantly to the downside, with the next key support level at 128.13. However, on Friday, the DXY recovered in strength which saw the USDJPY bounce from the 130 support level to trade up toward the 131 interim resistance level. While the bearish trendline continues to apply downward pressure on the USDJPY, look for price to break above 131 to climb toward 132 which would coincide with the 61.8% fibonacci retracement level and the bearish trendline. However, any moves to the upside could be brief with the USDJPY likely to continue trading lower, toward the 130 and 128 key support levels.
Short
by JinDao_Tai
1