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Forex-usdjpy

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
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