Usd-jpy-sell
USDJPY Potential DownsidesIn today's trading session, our primary focus is on USDJPY, where we are actively monitoring a potential selling opportunity around the 142.500 zone. Presently entrenched in a downtrend, USDJPY demonstrates a sustained downward trajectory. Concurrently, the currency pair is navigating a correction phase, steadily converging towards the trend at the pivotal 142.500 support and resistance area. This numerical level holds significance as both a historical support point and a crucial juncture where the correction may intersect with substantial market forces.
Our strategic approach for today involves a meticulous assessment of optimal entry points within the identified 142.500 zone. Aligning our trading decisions with the ongoing downtrend and the potential market dynamics at the critical support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified selling opportunity within the broader context of USDJPY's current trend.
USDJPY Potential DownsidesIn today's trading session, our attention is focused on USDJPY, as we actively monitor a potential selling opportunity around the 142.600 zone. Having previously traded in an uptrend, USDJPY has recently undergone a notable shift, successfully breaking out of the uptrend. Presently, the currency pair is in a correction phase, gradually approaching the retrace area at the crucial 142.600 support and resistance zone. This numerical level holds significance as both a historical support point and a pivotal juncture where the ongoing correction may encounter notable market forces.
Our strategic approach for today involves a careful assessment of optimal entry points within the identified 142.600 zone. Aligning our trading decisions with the recent trend reversal and the potential market dynamics at the critical support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified selling opportunity within the broader context of USDJPY's current trend.
USDJPY Potential DownsidesIn today's trading session, our primary focus is on USDJPY, as we carefully monitor a potential selling opportunity around the 145 zone. Presently entrenched in a downtrend, USDJPY demonstrates a sustained downward trajectory. Concurrently, the currency pair is navigating a correction phase, steadily converging towards the trend at the pivotal 145 support and resistance area. This numerical level holds significance as both a historical support point and a crucial juncture where the correction may intersect with substantial market forces.
Our strategic approach for today's session involves a thorough assessment of optimal entry points within the identified 145 zone. Aligning our trading decisions with the ongoing downtrend and the potential market dynamics at the critical support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified selling opportunity within the broader context of USDJPY's current trend.
USDJPY Potential DownsidesHey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 147.200 zone, USDJPY was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 147.200 support and resistance area.
Trade safe, Joe.
USDJPY Potential DownsidesHey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 147.800 zone, USDJPY is trading in a downtrend and currently is in a consolidation phase in which it is approaching the trend at 147.800 support and resistance area.
Trade safe, Joe.
USDJPY Potential DownsidesHey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 150.100 zone, USDJPY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 150.100 support and resistance area.
Trade safe, Joe.
USDJPY Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 149 zone, USDJPY was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 149 support and resistance area.
Trade safe, Joe.
USDJPY possible retracementAfter breaking to the upside and retracing to form liquidity withing internal structure, price pushed to the upside with very low and steady momentum. It then formed liquidity below a supply zone that it could use to retrace and target the internal liquidity that remains untapped.
Bank of Japan's Dovish Line Pushes Yen DownSTRATEGY LONG TARGET 175USD YEN
The market thinks the Bank of Japan’s new governor is negative for the yen and a plus for stocks, at least based on his first policy board meeting.
In fact, the headline NFP print showed that the US economy added 253K new jobs in April against 179K anticipated, offsetting the downwardly revised reading of 165K. Adding to this, the unemployment rate unexpectedly fell to 3.4% during the reported month from 3.5% in March, which assists the US Dollar (USD) to regain strong positive traction and provides a goodish lift to the USD/JPY pair.
Apart from this, a positive turnaround in the global risk sentiment - as depicted by a goodish recovery in the equity markets - undermines the safe-haven Japanese Yen (JPY) and further contributes to the bid tone surrounding the USD/JPY pair. That said, the Federal Reserve's (Fed) less hawkish stance holds back the USD bulls from placing aggressive bets and keeps a lid on any further gains, at least for now.
Nevertheless, the USD/JPY pair, for now, seems to have snapped a three-day losing streak and stalled this week's sharp retracement slide from the 137.75-137.80 region, or a two-month high. Spot prices, however, remain on track to register losses for the first time in the previous four weeks. This makes it prudent to wait for strong follow-through buying before placing fresh bullish bets around the major.
After Gov. Kazuo Ueda presided over his first meeting, the bank emphasized that it would continue monetary easing to support growth in wages and prices. That was enough to persuade market players that an interest-rate increase isn’t in the cards soon.
Late Friday in Tokyo, the yen was trading at around 136 to the dollar, compared with around 134 to the dollar before the central bank’s midday decision.
The USD/JPY pair catches aggressive bids during the early North American session and jumps to the 135.00 psychological mark in reaction to the stellar US monthly employment details.
USD BULLISH
When the dust settles, the Fed is set to continue raising rates
US to have permanently higher rates than elsewhere
Re-acceleration of inflation and its win over the Fed will continue to catch the market by surprise
The Dollar is higher for longer, alongside the Fed’s narrative
Stagflation to take USD even higher
Hot CPI means the Fed pivot is well beyond the horizon
Ugly inflation promises further flight to safety
US at war means a stronger dollar
Outlook for Fed monetary policy now more hawkish
Powell projects pain, higher rates for longer set to keep the dollar bid
There is no alternative to the US dollar
No recession for America's labor market, more dollar gains eyed
Fed Chair Powell prioritizes fighting inflation, and ready to see negative growth
USDJPY 24/9/23UJ giving some of the cleanest price action from Thursday and Friday leading us into what we have now which is a swing range to go lower, now we can clearly see we are sitting close to the SWH and have created liquid above the relatively equal highs BUT overall we do want to see some lower prices, if we don't take the high at open and we break down lower id be more inclined to look for sells, as always we will jut wait till its our time to trade then get in where we see fit!
Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
USDJPY Potential DownsidesHey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 145.500 zone, USDJPY was trading in an uptrend and successfully managed to break it out. currently is in a correction phase in which it is approaching the trend at 145.500 support and resistance zone.
Trade safe, Joe.
USDJPY Potential DownsidesHey Traders, in today’s trading session we are monitoring USDJPY for a selling opportunity around 146 zone, USDJPY was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 146 support and resistance zone.
Trade safe, Joe.
USDJPY Potential DownsidesHey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 142 zone. USDJPY was trading in an uptrend and successfully managed to break it out, currently we are waiting for a correction in order to see a potential retrace of the trend towards more lows.
Trade safe, Joe.
USDJPY Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring USDJPY for a selling opportunity around 141.400 zone, USDJPY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 141.400 support and resistance zone.
Trade safe, Joe.
USDJPY Potential DownsidesHey Traders, in the coming week we are monitoring USDJPY for a selling opportunity around 142.000 zone, USDJPY was trading in an uptrend and successfully managed to break it out. currently is in a correction phase in which it is approaching an important resistance area of 142.000.
Trade safe, Joe.
USDJPY Potential DownsidesHey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 139.500 zone, USDJPY was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 139.500 resistance zone.
Trade safe, Joe.
USD/JPY sticks to BoJ-inspired strong gainsSTRATEGY LONG
The Japanese yen depreciated past 134.5 per dollar, sliding back toward its weakest levels in seven weeks as the Bank of Japan maintained its ultra-easy monetary policy and made no adjustments to its yield curve control. However, the BOJ said it will remove forward guidance that pledges to keep interest rates at current or low levels. Latest data showed that core consumer prices in Japan’s capital, Tokyo, accelerated and exceeded forecasts in April, keeping the pressure on the central bank to adjust its current monetary settings. Externally, firm expectations that the US Federal Reserve will raise interest rates again in May continued to weigh on the yen, though recession fears and renewed concerns about the banking sector in the US limited the currency’s decline.
The USD/JPY pair builds on its strong intraday rally and climbs to its highest level since March 10, around the 136.40 region during the early North American session. Spot prices, however, retreat a few pips following the release of the US macro data and trade around the 136.00 mark, still up over 1.5% for the day.
This, along with a sharp intraday decline in the US Treasury bond yields, keeps a lid on any further gains for the Greenback. Apart from this, the risk-off impulse - as depicted by a generally weaker tone around the equity markets - lends some support to the safe-haven JPY and acts as a headwind for the USD/JPY pair amid slightly overbought oscillators on hourly charts. Nevertheless, spot prices remain on track to register strong gains for the third successive week, also marking the fifth week of a positive move in the previous six.
BULLISH FACTS
When the dust settles, the Fed is set to continue raising rates
US to have permanently higher rates than elsewhere
Re-acceleration of inflation and its win over the Fed will continue to catch the market by surprise
The Dollar is higher for longer, alongside the Fed’s narrative
Stagflation to take USD even higher
Hot CPI means the Fed pivot is well beyond the horizon
Ugly inflation promises further flight to safety
US at war means a stronger dollar
Outlook for Fed monetary policy now more hawkish
Powell projects pain, higher rates for longer set to keep the dollar bid
There is no alternative to the US dollar
No recession for America's labor market, more dollar gains eyed
Fed Chair Powell prioritizes fighting inflation, and ready to see negative growth
BEARISH FACTS
US Dollar's position as the primary global reserve currency is being challenged
America on verge of losing petrodollar privilege
Other regions may need to continue their crusade for inflation, reducing spreads of debt securities yields
Combination of lower Fed rate expectations and improved risk sentiment is quintessentially negative
No more Fed hikes, potentially lethal to the US Dollar
US economy to slip into recession, Fed eventually cut rates quicker than peer institutions
Sticky inflation? What is sticky is the downtrend
Fed will start cutting interest rates quicker than foreign central banks
Backing the US disinflation process and lower US rates
Shock growth shows worker supply is rising, inflation to fall, USD to retreat
End to monetary tightening should bring the USD's gains to an end
Incremental news outside of the US growing more positive
Fed to end its tightening cycle and US economic trend to worsen
USDJPY Potential ReversalHey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 133.5 zone, USDJPY is trading in a downtrend and now seems to be in a correction phase in which it is approaching the major trend around 133.5 support and resistance zone. The recent USD data were all soft and signal a pause of rate hike from the federal reserve. Also we should consider the coming PPI to confirm the probability.
Trade safe, Joe.