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Weekly FOREX Forecast Oct. 28: USDJPY Is a BUY This Week! The JPY has been weak and will continue to trend downward. The USD is supported by favoring fundamentals, and will likely continue its current bullish leg. Patience will pay you this week. Wait for valid buy setups. Sells are countertrend and lower probability, imo. Buy USDJPY. Sell JPY Futures. Enjoy! May profits be upon you. Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
Short
by RT_Money
CADJPY: Accumulating under the 1W MA50. Low risk buy.CADJPY is on a healthy bullish 1D technical outlook (RSI = 59.003, MACD = 0.700, ADX = 25.174) as it hit this week the 1W MA50 for the first time in 3 months. Rejection or not, historical price action shows that every time it tests it coming from a bottom on the 2 year Channel Up, the price breaks it and goes for a HH. The 1W MACD just made this week the new Bullish Cross and the last time it did so on such a low level, it was on April 3rd 2023, exactly at the start of the previous bullish wave. We expect initiallt the price to approach the R1 level, which is our Target (TP = 118.000), like the price did on June 26 2023. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
USDJPY Analysis for 24/10/2024: A Slightly Bearish Bias AheadAs we analyze the USDJPY currency pair on October 24, 2024, current market conditions and fundamental factors suggest a slightly bearish bias. This article delves into the key drivers influencing this outlook, allowing traders to make informed decisions in this dynamic market environment. Current Market Conditions The USDJPY pair has shown a mixed performance recently, with fluctuations influenced by both U.S. economic data and developments in Japan. Traders are closely watching for signals that could dictate the pair’s movement, particularly as we approach critical economic indicators. Key Fundamental Drivers 1. U.S. Economic Data: Recent economic data from the U.S. has been a mixed bag. While there have been positive signs in job growth and consumer spending, inflation remains a concern. The Federal Reserve’s stance on interest rates continues to be cautious, signaling that any aggressive rate hikes may not be imminent. This dovish sentiment can weigh on the U.S. dollar, creating a bearish outlook for USDJPY. 2. Japanese Economic Performance: Japan's economy is showing signs of resilience, with recent data indicating stronger-than-expected growth. The Bank of Japan (BoJ) has maintained its accommodative monetary policy, but there are discussions about potential adjustments in response to rising inflation. Should the BoJ signal a shift towards tightening, this could support the Japanese yen and contribute to a bearish trend in USDJPY. 3. Geopolitical Factors: Ongoing geopolitical tensions and global economic uncertainty can lead to safe-haven buying of the yen. Any escalation in conflicts or adverse developments in trade relations may strengthen the yen further, enhancing its appeal against the U.S. dollar. 4. Market Sentiment and Technical Indicators: Sentiment in the forex market is essential. Currently, there is cautious optimism among traders regarding the yen due to the previously mentioned economic performance indicators. Additionally, technical analysis reveals that USDJPY is nearing resistance levels, suggesting a potential reversal. If the pair fails to breach these levels, it may retreat, reinforcing a bearish bias. Conclusion Considering the current fundamental factors and market conditions, the outlook for USDJPY remains slightly bearish for today. Traders should monitor upcoming U.S. economic data releases and any announcements from the Bank of Japan that could further impact this currency pair. Keywords: USDJPY analysis, bearish bias, forex market, U.S. economic data, Bank of Japan, Japanese yen, geopolitical tensions, market sentiment, technical analysis.
Short
by PERFECT_MFG
USDJPY Slightly Bearish Bias on October 22, 2024 !!USDJPY Slightly Bearish Bias on October 22, 2024: Key Drivers and Analysis As of October 22, 2024, the USDJPY currency pair is exhibiting a slightly bearish bias based on the latest market conditions and fundamental factors. In this article, we’ll break down the key drivers that could contribute to this potential weakness in the US Dollar (USD) against the Japanese Yen (JPY) and provide insights for traders looking to capitalize on these movements. 1. Dovish Federal Reserve Outlook Weakens USD The US Dollar has been losing momentum in recent sessions due to a shift in market sentiment around the future path of the Federal Reserve's monetary policy. Recent economic data out of the US, including softer-than-expected retail sales and a slowdown in the housing market, have led traders to anticipate a more dovish approach from the Fed. Despite persistent inflationary pressures, the Federal Reserve has signaled that it may pause rate hikes, which is reducing demand for the USD. This pause in tightening is making the USDJPY pair more vulnerable to downside risks, especially as traders shift to safer assets like the JPY in the face of rising uncertainty in global markets. 2. Bank of Japan's Potential Policy Shift The Bank of Japan (BoJ) has remained committed to its ultra-loose monetary policy for years, but there are signs that it may be reconsidering its stance. Speculation has grown that the BoJ might tweak its yield curve control (YCC) program or adjust its negative interest rates policy in the near future. Even though no official changes have been announced, the potential for a more hawkish policy shift is providing underlying support to the JPY. Investors are also pricing in the possibility that inflationary pressures in Japan could push the BoJ toward policy normalization, which would make the JPY more attractive relative to the USD. 3. Safe-Haven Demand for JPY Amid Global Uncertainty The Japanese Yen is traditionally viewed as a safe-haven currency, meaning that it tends to gain strength during periods of global uncertainty. Current geopolitical tensions, particularly in the Middle East, and concerns over global economic slowdown are driving risk aversion in the markets. This sentiment is boosting demand for safe-haven assets, including the JPY, while pressuring the USDJPY pair lower. Furthermore, ongoing concerns about China's economic recovery and lingering trade tensions between the US and other major economies are also contributing to increased risk-off sentiment, which favors the Yen over the Dollar. 4. Diverging Economic Data Between the US and Japan While the US economy has been showing signs of weakness, with disappointing retail sales and housing market reports, Japan’s latest GDP data surprised to the upside. The Japanese economy grew faster than expected in the last quarter, reinforcing the view that the country is starting to recover from its prolonged period of stagnation. This stronger economic outlook for Japan is providing additional tailwinds for the Yen. In contrast, US data continues to reflect a potential slowdown, leading traders to rethink their bullish stance on the USD. The combination of weaker economic performance in the US and stronger-than-expected growth in Japan is tilting the balance toward a bearish USDJPY outlook. 5. Technical Analysis and Market Sentiment From a technical perspective, the USDJPY pair has recently tested key resistance levels around 150.00 but failed to break higher, suggesting that a reversal may be underway. The pair is now trading closer to 148.50, with the potential to move lower if further downside pressure builds. Traders are watching for a break below the 148.00 support level, which could signal additional bearish momentum. Market sentiment, as indicated by the Commitment of Traders (COT) report, shows a slight increase in speculative short positions on the USDJPY pair, reflecting the broader expectation of near-term weakness in the USD. 6. Yen Intervention Concerns Another factor adding to the bearish bias for USDJPY is the potential for Japanese government intervention. In the past, Japan’s Ministry of Finance has intervened in the currency markets to support the Yen when it experiences excessive weakness. With USDJPY approaching levels that could trigger intervention, traders are cautious about pushing the pair higher, which is contributing to the pair’s bearish momentum. The Japanese authorities have issued warnings in recent weeks about excessive volatility in the Yen, and this potential intervention risk is helping to keep USDJPY in check. Conclusion: USDJPY Outlook for October 22, 2024 In conclusion, the USDJPY pair is expected to maintain a slightly bearish bias today due to several key factors, including the dovish Federal Reserve outlook, potential Bank of Japan policy shifts, and rising safe-haven demand for the Yen. The divergence in economic data between the US and Japan, coupled with technical indicators signaling downside potential, further strengthens the case for a weaker USDJPY pair in today’s trading session. Traders should keep a close eye on upcoming economic reports from both the US and Japan, as well as any potential intervention from Japanese authorities, which could impact the pair’s trajectory. For those trading forex, today’s market environment may present opportunities to capitalize on short positions in USDJPY. Keywords for SEO Ranking: - USDJPY analysis, - Bearish bias, - US Dollar, - Japanese Yen, - USDJPY forecast, - Forex trading, - Currency markets, - Federal Reserve policy, - Bank of Japan, - Yield curve control, - Safe-haven currency, - Technical analysis, - Forex trends, - Forex market update, - Currency pair analysis, - USDJPY today, - Forex news, - Forex signals.
Short
by PERFECT_MFG
Nikkei continues to hold back the bears.NIK225 - 24h expiry Price action looks to be forming a bottom. A Doji style candle has been posted from the base. This is positive for sentiment and the uptrend has potential to return. We look for a temporary move lower. Further upside is expected although we prefer to set longs at our bespoke support levels at 38870, resulting in improved risk/reward. We look to Buy at 38870 (stop at 38550) Our profit targets will be 39670 and 39820 Resistance: 39660 / 42155 / 45325 Support: 37705 / 36330 / 34955 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.
OANDA:JP225USDLong
by OANDA
USD/JPY: Japan’s Snap Election Opportunities Japan is holding a snap election this Sunday, triggered by a scandal within the ruling Liberal Democratic Party (LDP), despite a general election not being due until late 2025. The LDP, which has dominated Japanese politics for all but four of the last 65 years, has seen its popularity plummet. In June, its poll numbers hit their lowest point this century. While some polls predict the party could cling to its majority, bolstered by a fragmented opposition, fresh data from the Nikkei suggests a different outcome. The business daily warns that the LDP may fall short of securing a majority, a result that could lead to political upheaval not seen since 2009. Pullbacks in USD/JPY have been lessening since early October, and after clearing the 150.00 mark, the next targets for the bulls may be the 200-Day Moving Average and the range between 150.90 and 151.10. Amid a snap election, 152.00 is also a possible target. If the pair experiences another pullback, traders might consider a mid-point of current price action as a potential resistance level.
by BlackBull_Markets
GBPJPY: Medium term correction.GBPJPY is bullish on its 1D technical outlook (RSI = 59.018, MACD = 1.270, ADX = 45.334) but on a decreasing rate as the aggressive rise has taken a pause and the price, despite inside a Channel Up since August, has turned sideways since October 4th on the 4H MA50. We expect the bearish wave of the Channel Up to start any day now. Even though the previous targeted the 0.618 Fib, we will aim for the 0.5 this time (TP = 190.000) as the decline may start a little higher than the current price. Keep in mind that the best trigger to sell will be a 1D MACD Bearish Cross. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
USDJPY: 1H Rising Wedge approaching its top.USDJPY is almost overbought on its 1H technical outlook (RSI = 69.322, MACD = 0.160, ADX = 19.927) as the price is approaching the top (HH) of the 10 day Rising Wedge. A 74.00 RSI has been the most optimal sell signal during the three past highs to start shorting. Wait for the opportunity and target the 0.5 Fib at least (TP = 149.645) as it has been the minimum target during the last two bearish waves. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
GBPJPY Pull back signalGBPJPY is trading on a Channel Up but has turne sideways recently, indicating a potential top. The last major formation has been a Death Cross (1d) and last time we had one was on January 17 2023. The similarities between the two patterns are strong. The MA200 (1d) is holding for now, if it breaks it will be the sell trigger for the trade. Trading Plan: 1. Sell if the MA200 (1d) breaks. Targets: 1. 188.600 (above the 0.786 Fib). Tips: 1. The RSI (1d) is also trading inside a Channel Up and also portrays similar attributes as the 2023 fractal. Please like, follow and comment!!
Short
by TradingBrokersView
CHFJPY: Technically topped. Short opportunity.CHFJPY is on bullish 1D technicals (RSI = 59.579, MACD = 1.000, ADX = 53.750) but for the past 2 days have deen declining. This suggests that the top is has been priced and a technical pullback is to follow. The 1D MACD is on the verge of a Bearish Cross. All previous uptrend corrections hit or came close ot the 0.618 Fib. Consequently, we turn bearish on the short term (TP = 170.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
USD/JPY Remains Strong as JPY Struggles for Upside The USD/JPY pair continued its upward trend on Tuesday, maintaining strength despite limited upside potential for the Japanese Yen (JPY). The JPY's inability to gain ground is largely attributed to ongoing uncertainty surrounding the Bank of Japan’s (BoJ) rate-hike plans. Coupled with a generally positive risk tone in the markets, this has kept the JPY, traditionally seen as a safe-haven currency, from making any meaningful gains. US Data and Market Outlook Tuesday’s economic calendar for the US is relatively quiet, with no major data releases expected. However, the spotlight will turn to Thursday’s key economic reports, which include the USD Core Retail Sales (m/m), Retail Sales (m/m), and Unemployment Claims. These reports are expected to inject more volatility into the market and could influence the trajectory of the US Dollar and other major currency pairs, including USD/JPY. Given the strength of the USD near its two-month peak, the upcoming data could further support the dollar, limiting any potential upside for the lower-yielding JPY. The US Dollar's resilience continues to exert pressure on the JPY, keeping the pair on a bullish path. Technical Outlook: USD/JPY Targeting 152.000 From a technical perspective, the USD/JPY pair appears poised to extend its rally, with a potential target around the 152.000 level. This area could be reached following the release of the key US economic reports on Thursday, which may provide the necessary momentum for further gains. The technical outlook is supported by the broader strength of the USD and the lack of strong upside drivers for the JPY. The chart of JPY futures also reflects the challenging environment for the Yen, signaling continued weakness. Chart Overview: JPY Futures Chart As shown in the chart, the JPY remains under pressure in the futures market, further confirming our outlook for continued USD/JPY strength. Strategy: Patience is Key After successfully closing our previous USD/JPY trade in profit, we are now waiting for a more favorable area to enter a new position. With key economic data on the horizon, patience remains essential as we await clearer signals from the market. In conclusion, the USD/JPY pair is likely to maintain its bullish trend in the near term, with a potential target of 152.000. The combination of US Dollar strength and uncertainty surrounding the BoJ’s rate policy should keep the Yen on the defensive, at least until there are clearer indications of future central bank actions. For now, we remain on the sidelines, waiting for the next opportunity to re-enter the market. PREVIOUS CLOSED POSITION: ✅ Please share your thoughts about USD/JPY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1
AUDJPY: Great long term bullish trade.AUDJPY is on excellent bullish levels on its 1D technical outlook (RSI = 60.728, MACD = 0.850, ADX = 48.315) which shows the steady bullish trend on the medium term but more importantly it just turned bullish on the 1W timeframe, showing the enourmous upside potential. And this is evident as the dominant pattern is a Channel Up since March 2020. The August low was a bottom exactly on the 1D MA50, the 1D RSI is making a bottom formation and the price action looks identical to the two prior bottoms of the Channel. The rallies they produced rose both by +27.00%. We expect a similar rebound (TP = 114.000). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
EURJPY: Well supported on the 1W MA100 but needs more to rise.EURJPY is marginally bullish on its 1D technical outlook (RSI = 55.394, MACD = 0.690, ADX = 37.501), practically neutral as it's been ranging between the 1W MA50 and 1W MA100. The long term pattern is a Channel Up since 2021 and the recent 1W MA100 test is the new bottom (HL) of the pattern. The 1W MA50-100 consolidation is the bottom formation and even though it's encouraging we need a crossing over the 1W MA50 in order to validate the new rise. Technically it should be around +18.70% like the previous two. Set your target accordingly (TP = 183.500). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
GBPJPY Heading to the Channel's Top. Sell alert.The GBPJPY pair has been trading within a Channel Up pattern since the August 05 bottom. The price is above both the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line) and has already made a Higher High on September 27, which was immediately sold by the market. Based on the previous peak formation of the Channel Up though, we could see a Double Top Higher High rejection in the coming days like the one on September 02. The 1D RSI made a Higher High also before the start of the September Bearish Leg, and right now it hasn't done so. As a result, we will wait for a short opportunity a little higher and then target the 0.618 Fibonacci retracement level (like the September 11 Low) at 188.800. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USDJPY Waiting for this perfect sell opportunity.Two weeks ago (September 25, see chart below) we gave a strong multi-month buy signal on the USDJPY pair and it couldn't have had a better timing: Last week recorded a massive 1W green candle, the strongest one in more than 2 years that almost tested the 1W MA50. Today we will be breaking down this long-term buy opportunity on the lower 1D time-frame. As you can see, the price is approaching the 1D MA100 (green trend-line)/ 1D MA200 (orange trend-line) Resistance cluster. This is of very high importance as during the previous Channel Up bottom in early 2023, the two formed a Bearish Cross (February 27 2023) and just a few days later the pair topped and was rejected on the 1D MA200. The result was a pull-back to the 0.786 Fibonacci retracement level. Long-term we remain bullish but on the short-term we will be waiting for this rejection opportunity in order to short and target the 1D MA50 (blue trend-line) at 146.000. Notice also that the high symmetry on the RSI sequences among the two bottom fractals also indicates that we are just before the 1D MA100/ 200 Bearish Cross took place. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot