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Sell NZDJPY Wedge BreakoutThe NZD/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry : Consider entering a short position around the current price of 96.70, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 96.17 2nd Support – 95.82 Stop-Loss: To manage risk, place a stop-loss order above 97.20. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_FOREX_TRADING
1
Bullish rise?EUR/JPY has just reacted off the pivot and could potentially rise to the pullback resistance. Pivot: 168.31 1st Support: 167.37 1st Resistance: 170.03 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
1
Volatility strikes USD/JPY within rangeThe whipsaws for the US dollar around US CPI and the FOMC meeting made its mark on USD/JPY, which closed the day with a large hanging man candle beneath the May high. Markets are still deciding whether to pay closer attention to softer inflation data or the Fed's relatively hawkish meeting, and that likely means confusing price action on USD pairs. The 1-hour chart shows strong volume accompanying the rally from Wednesday's low, which suggests another crack at breaking above the week's high. But with plenty of resistance overhead, bears may be tempted to fade into rallies on hopes of driving the pair back to the range lows around 155.
Short
by CityIndex
Potential bullish rise?NZD/JPY has just broken out of the pivot and could rise to the 1st resistance which aligns with the 161.8% Fibonacci extension. Pivot: 96.75 1st Support: 96.13 1st Resistance: 97.57 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Japan rate decision Friday: A deeper look Japan's wholesale inflation surged in May at the fastest annual rate in nine months, data revealed yesterday, indicating that a weak yen may be exerting upward pressure on prices by increasing the cost of raw material imports. Producer prices in Japan rose 2.4% year-on-year in May 2024, up from 1.1% in April, surpassing market expectations of a 2% rise. This data is likely to be a key factor for the Bank of Japan (BOJ) board as it convenes for a two-day policy meeting ending on Friday. The central bank is widely anticipated to maintain its short-term interest rate target within the 0% to 0.1% range. However, the data adds complexity to the BOJ's decision-making on the timing of interest rate hikes. BOJ Governor Kazuo Ueda has stated that the central bank will consider raising rates further if it becomes more confident that underlying inflation will remain around the 2% target. Looking at the 4-hour chart today, the USD/JPY has rebounded following the FOMC decision, erasing much of the post-CPI drop, and passing through the 20-, 50-, 100-, and 200-hour Exponential Moving Averages.
by BlackBull_Markets
USDJPY Potential Downturn: Key Levels and FOMC Insights todayHey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 155.900 zone, USDJPY is trading in an uptrend and currently seems to be attempting to break it out. If we get decent dips below the support area we will be looking for a potential retrace of the trend towards more lows. Fundamentally the last CPI data came below expectations, indicating that inflationary pressures might be easing. This could reduce the need for aggressive interest rate hikes by the Federal Reserve, potentially leading to USD weakness. Additionally, we have the FOMC meeting later today, where any dovish signals or a cautious approach towards future rate hikes could further weaken the USD, making the bearish scenario for USDJPY more likely. Therefore, it's crucial to monitor the price action around the 155.900 zone and be prepared for potential volatility following the FOMC announcements.
Short
by JoeChampion
AUDJPY to form a higher low?AUDJPY - 24h expiry Indecisive price action has resulted in sideways congestion on the intraday chart. RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending. Pivot support is at 103.00. Risk/Reward would be poor to call a buy from current levels. A move through 103.75 will confirm the bullish momentum. We look to Buy at 103.50 (stop at 103.10) Our profit targets will be 104.50 and 104.75 2,5RR Resistance: 104.00 / 104.50 / 104.75 Support: 103.50 / 103.25 / 103.00 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
USDJPY (Bullish Overall)USD/JPY 4-Hour Chart Analysis Trend Analysis: - The 4-hour chart shows an overall uptrend, with higher highs and higher lows indicating bullish momentum. - Recently, the price has experienced some volatility but remains above key support levels. Support and Resistance Levels: - Immediate Support Level: 156.00, which could act as a short-term support if the price pulls back. - Next Support Level: 154.50, a significant support level that has been tested previously. - Immediate Resistance Level: 157.30, which is close to the current price and could act as a barrier to upward movement. - Next Resistance Level: 158.00, a key resistance level that aligns with recent highs. Technical Indicators: - The recent candlestick patterns suggest some consolidation, but the overall trend remains bullish. - There are no immediate signs of a reversal, indicating that the bullish momentum may continue. Direction Preference: Given the current uptrend and the lack of reversal signals, the preferred direction for USD/JPY in the short term is bullish. The price is likely to continue moving higher towards the resistance levels of 157.30 and potentially 158.00. Conclusion: The USD/JPY 4-hour chart indicates a bullish trend with continued upward momentum. It is advisable to consider long positions, targeting the resistance levels at 157.30 and 158.00. Monitor for any signs of consolidation or pullback, but as of now, the bullish trend remains the preferred direction.
Long
by SroshMayi
1
AUDJPY - Follow The Trend!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 AUDJPY has been overall bearish , trading within the falling wedge in orange. Currently, AUDJPY is undergoing a correction phase and it is currently approaching the upper bound of the wedge. Moreover, it is retesting strong supply zone marked in green. 🏹 Thus, the highlighted red circle is a strong area to look for trend-following sell setups as it is the intersection of the green supply zone and upper orange trendline acting as a non-horizontal resistance. 📚 As per my trading style: As #AUDJPY approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
Buy CHFJPY Triangle BreakoutThe CHF/JPY pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 175.24 Target Levels: 1st Resistance – 175.82 2nd Resistance – 176.10 Stop-Loss: To manage risk, place a stop-loss order below 174.50. This helps limit potential losses if the price falls back unexpectedly. Opportunity Breakdown: Triangle Breakout: Price action recently broke above a bullish triangle, a continuation pattern suggesting further upside potential. Retest Confirmation: The price has retested the broken resistance line of the triangle and held, indicating strong buying pressure. This retest adds confidence to the breakout. Ichimoku Cloud Support: The current price sits comfortably above the Ichimoku cloud, a technical indicator that often signals bullish momentum when the price is above the cloud. Thank you.
Long
by KABHI_FOREX_TRADING
1
Potential bullish rise?USD/JPY is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance. Pivot: 156.38 1st Support: 155.33 1st Resistance: 157.95 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
USD/JPY as BOJ rate decision approaches The US federal Reserve is not the only major central bank making an interest rate decision this week. So too, will the nonconformist Bank of Japan (BOJ). In its April policy meeting, the BOJ highlighted upside risks to inflation and indicated readiness to adjust monetary policy, if necessary, although it expects to maintain its current policy for the time being. The BOJ stated that if the outlook for economic activity and price rises materializes, interest rate hikes could be warranted. Key economic reports from Japan prior to this week's interest rate decision include: Japan GDP Growth Rate (final) Japan Economy Watchers Survey Outlook Japan Producer Price Inflation For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox. From the daily chart, the USD/JPY perhaps appears slightly bullish. The pair has climbed above the Ichimoku Cloud, indicating strong buyer momentum. On Tuesday last week, BOJ Deputy Governor Ryozo Himino expressed concerns about the negative impact of a weak yen on the economy. His comments suggest that the BOJ might be preparing for another intervention in the forex markets to support the yen, which would be negative for the USD/JPY pair. The 14-day RSI has recently pulled back, avoiding overbought conditions.
by BlackBull_Markets
1
AUDJPY H4Let's break down the analysis of the AUD/JPY 4-hour chart step by step. 1. **Key Levels**: - **Resistance Levels**: - 103.859: This is a significant resistance level, as highlighted by the upper black line. - 103.628: Another resistance level, indicated by the upper red line. - **Support Levels**: - 102.653: This is a crucial support level, highlighted by the lower red line. - 100.606: A major support level, represented by the lowest black line. 2. **Current Price**: - The current price is 103.089, which is marked in the middle of the chart. 3. **Potential Scenarios**: - **Bullish Scenario**: - If the price breaks above the 103.628 resistance level, it could move upwards towards 103.859. - If the price sustains above 103.859, it might continue to rise, aiming for higher levels (not shown on this chart). - **Bearish Scenario**: - If the price breaks below the 102.653 support level, it could decline towards 100.606. - A break below 100.606 would be significant and could indicate further downside potential. 4. **Price Action Analysis**: - The price has been moving within a range between 102.653 and 103.859, indicating consolidation. - There have been previous instances where the price tested these levels, showing their importance. 5. **Arrows and Possible Movements**: - The upward arrows indicate potential bullish movements if the resistance levels are broken. - The downward arrows show potential bearish movements if the support levels are broken. 6. **Market Sentiment**: - The chart suggests a neutral sentiment currently, as the price is within the range and has not broken out decisively in either direction. In summary, traders should watch the key levels of 103.628 and 102.653 closely for potential breakouts. A move above 103.628 could signal bullish momentum, targeting 103.859 and higher. Conversely, a break below 102.653 could indicate bearish momentum, potentially aiming for 100.606.
by Sibonginkosi_Sithole-Job3
EURJPY ANALYSIS (RECENT WEEKS + FUTURE)A lot of the JPY pairs have been recently moving similarly (not surprising due to their obvious relationship). I’ve been keeping an eye on UJ, GJ and my personal favourite EJ - for me to notice their recent similarities. Anyway, price successfully reached the supply zone and instantly began to dump, successfully shown by the initial displacement. This signalled weakening in the price and that price was ready to go to demand. This idea was further strengthened by the initial sweep and immediate BOS on the 4H chart to the downside giving me a potential entry point (on the 4H which I’m not a big fan of) and a new POI to work from. POI formed - and another nice BOS- with an order block. However this wasn’t clear enough for me to confidently trade from. Price broke ONCE more - fully confirming the bearish bias and it gave me two points to decide to work from either off of the 15min or the 1h OB’s created. I’ll be seeking to TP at 168.485 and then 167.665.
Short
by saintprincevvs
2
Bullish bounce?USD/JPY is falling towards the pivot and which acts as a pullback support and could bounce to the 1st resistance. Pivot: 154.78 1st Support: 153.671 1st Resistance: 156.58 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
1
EUR/JPY looks ready to ripThe ECB are expected to cut their benchmark rate for the first time in 8 years in a few hours. Yet as it has been so well telegraphed and they seem unlikely to provide promise of further cuts just yet, we suspect upside potential for euro pairs once the dust has settled. And with Wall Street at new highs and appetite for risk on the rise, EUR/JPY looks good for long setups. A bullish inside day formed on Wednesday, and whilst it met resistance at the 2008 high it has since found support at the 20-day EMA. The daily chart shows prices holding above the daily pivot point, and a bullish engulfing candle has formed with a bullish RSI divergence. A bullish flag also appears to be forming. The bias remains bullish above 169, although the 20-day EMA or cycle lows can be used to aid with risk management if momentum turns higher. A break above 170 brings the daily R2 / 61.8% projection into focus, and the flag suggests a target just above the 170.72 highs.
Long
by CityIndex
Could USD/JPY bounce from here?Price is falling towards a support level which is a pullback support that lines up with the 61.8% Fibonacci projection and could bounce from this level to our take profit. Entry: 154.76 Why we like it: There is a pullback support which lines up with the 61.8% Fibonacci projection. Stop loss: 153.66 Why we like it: There is a pullback support level which aligns with the 100% Fibonacci projection. Take profit: 156.38 Why we like it: There is an overlap resistance level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets