Get started

Jpy

USD/JPY: Anticipating Downward Movement at Strong ResistanceUSD/JPY is one of the most traded currency pairs in the world. The value of the USD/JPY pair is quoted in Japanese yen per one U.S. dollar. For traders, it is important to note that the pair is currently at a strong resistance level and is expected to move downwards. Outlook According to, the USD/JPY pair is expected to face resistance at the 151.70 area, which is its highest level since October 2022. The YTD peak could also offer some resistance to the USD/JPY pair ahead of the multi-decade top. The Bank of Japan's policy of patience sent the yen to an all-time low, and the Japanese authorities are always in close communication with U.S. counterparts on currencies and share a mutual understanding that excessive moves in the currency should be avoided. Therefore, traders should keep an eye on the pace of the decline in the Japanese yen. Fundamental Analysis The unwavering stance on negative rates by the Bank of Japan puts a spotlight on USD/JPY movements, amid whispers of potential interventions. The interest rate differential between the policy rates of the Federal Reserve and the Bank of Japan (BoJ) is an important influence on the USD/JPY exchange rate. Higher interest rates make a currency relatively more attractive because they allow for higher returns on investment. Technical Analysis The USD/JPY pair is currently at a key resistance level of 151.93. A firm break above this level will target 100% projection of 129.62 to 145.06 from 137.22 at 152.66. However, for the shift to lead to a bullish trend, the price must start making higher highs and lows. That means a break above the 150.75 resistance level. Otherwise, the price might start a period of consolidation near the 150.00 key level. Conclusion In conclusion, the USD/JPY pair is currently at a strong resistance level and is expected to move downwards. Traders should keep an eye on the pace of the decline in the Japanese yen. The interest rate differential between the policy rates of the Federal Reserve and the Bank of Japan (BoJ) is an important influence on the USD/JPY exchange rate.
Short
by fardycurry
3
A LONG Spike AGAIN. Quo Vadis?This pair has again witnessed another long spike. A second spike in about 3 weeks. With this spike, a lot of traders are likely to get confused about the next direction in which the market is expected to go. So let's give it a try. Before the spike, we witnessed how prices rallied in a systematic manner. This rally was strong enough to turn the 4 hour the 1 hour and even the daily charts from their hitherto bearish trends and set them all on bullish swings. With the bulls taking the day on these 3 timeframes, we can say with a certain amount of certainty that the market is bullish and we will be expecting to see higher prices. The market is currently dipping. We will consider that dip a retracement, which is helping move prices into our PB. Price is already in our PB, and now we are waiting for price to come into our zone, from where we will be looking to trade. Our target will be the 1 hour and 4 hour liquidity target, which is actually a confluence.
Long
by PanzyPips
GBPJPY: Imbalance & False Breakout 🇬🇧🇯🇵 Feels like we have a good example of stop hunt and imbalance on GBPJPY. The market is consolidating within a horizontal range on a daily. We saw a breakout attempt of its support in the morning and the market was even trading beyond that for some time. However, then we see a formation of a bullish engulfing candle - the imbalance. It makes me think that this bearish move was simply a manipulation. I expect a growth now to 182.3 level. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
9
BOJ under pressure to intervene yen weakness - Urgent Action Req Recent developments surrounding the Bank of Japan (BoJ) are under increasing pressure to intervene in the ongoing weakness of the yen. As we stay vigilant in our trading strategies, it is crucial that we pause and carefully consider the potential implications of such intervention. Therefore, I strongly recommend that each one of us exercise caution and reevaluate our positions before proceeding further. It is with prudence and foresight that we can navigate through these uncertain times and protect our interests. Let's take a moment to assess the situation and make informed decisions before resuming trading. Stay alert and trade wisely. Call to Action: As a responsible trader, I encourage you to pause your yen trading until further notice. Take this opportunity to reassess your positions, consult market experts, and stay informed about the latest developments regarding BoJ's potential intervention. By ensuring we are well-informed and cautious, we can mitigate potential risks and make more successful trading decisions. Together, let's prioritize protection and long-term gains by taking a step back and reflecting on our strategies.
by bryandowningqln
EURJPY Sell on the next rebound.The EURJPY pair is on its 1D MA50 (blue trend-line), trading within a Channel Up since the June 28 High. It appears that smaller Megaphones within the Channel are the patterns that tend to lead the pair to its new Higher Low, that technically reaches as low as the 0.618 Fibonacci retracement level. That is our short target (156.500) but sell as high on the next rebound as possible. You may also pay attention to the 1D RSI, which rebounds on its 39.50 and is where the price has rebounded aggressively every time it hit it, inside 2023. ------------------------------------------------------------------------------- ** 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
1
Trading the BoJ meeting – it’s all about YCCTiming – 31 Oct (no set time – likely between 1 pm to 3 pm AEDT) The tide is turning in Japan and while BoJ policy change is glacial - especially when we consider the intense pace at which other G10 central banks have acted – we’re now hearing that Japanese pension funds are looking are re-weighting of domestic JGBs, with yields on long-end bonds more attractive than holding foreign bonds on a currency-hedged basis. These future re-weightings will involve huge amounts of capital and increase the perception of JPY inflows, and a lasting process of capital moving back to Japan. On the inflation front, we’ve seen Tokyo core CPI coming in line, or beating expectations, in all but 2 of the last 24 readings. With core CPI running at 3.8% and well above the bank's target of 2%, we’ll see some lumpy inflation upgrades tomorrow from the BoJ. So why not start to tighten policy? The simple reason is they haven’t prepped the market fully, and they want to garner real confidence from the Spring Shunto wage negotiations – we should start to hear the outcome of these negotiations in the weeks ahead. All eyes on changes to the YCC band While no one is expecting a move in interest rates away from NIRP (Negative Interest Rate Policy) – that is an early 2024 story - Where we could see some policy change through the widening of the YCC (Yield Curve Control) band. At present, the BoJ cap 10yr JGB (Japan govt bonds) yields at 100bp (or 1%). If we were to see a test of the 1% cap in the near-term the BoJ would buy unlimited amounts of JGBs to confine yields to 1%. Currently, we see the 10-year JGB at 89bp, with yields up 14bp since 16 October. So, sellers have pushed JGB yields towards the cap, with the more freely moving JP 10yr swap sitting above 1% at 1.10% - it’s, therefore, clear that some in the market has positioned for the BoJ to lift the cap to 1.50%, some may even be thinking it's removed altogether. The market’s base case is for no change While 34/45 economists expect no change, given the recent flow and positioning in the JGB market, if the YCC cap remains at 1% then we could see a spike higher in USDJPY and the JPY crosses – I would guess to the tune of 30-50 pips. I would be a buyer on that JPY weakness. This fits in with the reaction we’ve seen in prior BoJ meetings, where since Jan 2022 the JPY has weakened in all but 2 meetings. Could we see the cap lifted to 1.5%? If the BoJ lifts the cap to 1.5%, one suspects this action will be accompanied by supportive rhetoric that they will continue to intervene intraday and buy JGBs to smooth out any overly violent moves. This action would see a more pronounced downside move in USDJPY, perhaps 50-70 pips (at a guess), although the likely accompanying language should limit the reaction. As always, positioning will play a part – where we currently see leveraged funds short of JPY, while real money is modestly long, and retail aggressively long JPY and seeing greater downside risk in USDJPY. One does question why the BoJ doesn’t just get rid of the YCC cap altogether. A scenario which isn't entirely impossible, but would likely send shockwaves through global bond markets, and by extension FX markets too. One could argue that YCC lacks credibility anyhow, given the BoJ seems to move the cap every time the market tests the limit. It simply results in them having to buy greater quantities of outstanding debt and cornering the market. The trade? Over the coming week or so, I see further upside risk in the JPY - My preference for the BoJ meeting though is to stand aside, but place limit sell orders above the market into the meeting. If the BoJ leaves YCC unchanged then positioning should be unwound and I get a fill - I suspect the move will be short-lived and the flow should reverse. CHFJPY is looking like one of the weaker crosses at this point, so selling spikes in CHFJPY looks compelling – and should we get closer to MOF verbal intervention I am on the right side of that too.
Short
by Pepperstone
1
AUDJPY: Big week for JPY Yen this weekThere's talk of the BoJ lifting the limit on yields to 1.5% from 1% this week, which would be a very strong catalyst for the Yen to start showing some strength. We can see that this pair does not have any direction at the moment, trading in a flag pattern, but I don't see this as either bullish or bearish at the moment. I'm not sure how or when or if to trade this but monitoring, my idea is based on BoJ protecting its currency generally, I am seeing the Aussie getting stronger so think we'll go up before coming back down, let's see...
Short
by Finchcliffe
CADJPY: Short scalp next weekThinking we're starting to see JPY strength, this is because it can't stay so weak for so long imho. Weak currency suits Japan as an exporter, to a point, but massively affects it's buying power, I do feel like we're approaching the end of this cycle of Yen weakness, by the end of this year. I think this pair broke the rising trendline but has struggled to get back in on multiple retracement attempts, so I think we'll drop to catch the order block in the next week based on current PA.
Short
by Finchcliffe
1
NZDJPY to find sellers at market?NZDJPY - 24h expiry There is no clear indication that the upward move is coming to an end. A higher correction is expected. Risk/Reward would be poor to call a sell from current levels. A move through 87.00 will confirm the bearish momentum. The measured move target is 86.25. We look to Sell at 87.42 (stop at 87.82) Our profit targets will be 86.42 and 86.22 Resistance: 87.50 / 87.75 / 88.00 Support: 87.00 / 86.50 / 86.25 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.
Short
by OANDA
AUDJPY BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis. Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity AUDJPY I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
6
USDJPY BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis. Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity USDJPY I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
6
Bearish Way to GO...From our yesterday's analysis, we saw a possiblity of this pair going Bearish on the 1 hour chart, while still looking overwhelmingly Bullish on the 4 hour. Today, looking at the 4 hour chart, we can see that there is a change in direction. The pair now has a Bearish perspective on the 4 hour chart. Price has retraced bullish into our Panzy Pips Block (PB), from where we expect Bearish reversal. We are open to the possibility of price reaching further up for our zone as marked out on the chart. With price expected to dip lower, we have our eyes and early trade setup focused at the 4 hour
Short
by PanzyPips
EURJPY to find support at previous resistance?EURJPY - 24h expiry Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes. A lower correction is expected. Short term bias has turned positive. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. We look to Buy at 158.95 (stop at 158.45) Our profit targets will be 160.15 and 160.65 Resistance: 161.25 / 162.00 / 163.10 Support: 158.60 / 157.70 / 157.05 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
Japanese Currency Index: Harmonic Bottom with RSI ConfirmationThere is a Confluence of a Bullish Butterfly and a smaller Bullish Bat visible on the 5-day and Weekly timeframes on the JXY as the RSI ticks out of the oversold zone for the 4th time at this level while making higher lows each time. It would seem as if the JXY is confirming to us that it has reached a Harmonic Bottom and is preparing to rise up to some of the longer-term moving averages, with the highest being at around $89-$95. During this time, we have seen the JXY continue to strengthen against other non-USD currencies, but now it's starting to look like not only will the JXY rise but that the Yen will gain dominance against the Yen, and when this happens, I also expect the JGB Yields to rise significantly. So beyond my forex positions, I will be adding YCS puts to my list of Bullish JPY positions. YCS is a 2x Return of USDJPY so if JPY starts to go up from here, this ETF could really crash down fast.
TVC:JXYLong
by RizeSenpai
Currency scuffleAs you can see we prepared update for the currency agenda, we have added gd, jpy, rub, and inr to the fuse, as you can see fibonacci cycles stayed the same in the anbsence. We think or at least clearly see on a chart that rub was the most profitable currency available. In the later arrivals we will try to discover most profitable assets nominated in rubles and compare them to assets in other curencies. Feel free to read, analyse, comment and enjoy the party.
by UnknownUnicorn462803
1