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Usd-jpy

USDJPY M30: Bullish outlook seen, further upside above 138.80On the M30 time frame, a throwback to the support zone at 138.80, in line with the 78.6% Fibonacci retracement presents an opportunity to play the bounce with 141.20 as the resistance target. The 141.20 resistance zone coincides with the graphical support-turned-resistance zone and 100% Fibonacci extension. Failure to hold above the 138.80 support zone could see prices push lower to the next support zone at 138.20. Stochastic is approaching support as well where we could see further upside, supporting the bullish bias.
Long
by T3-Consultancy
1
USDJPY - Trend-Following Buy Setup!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. As per my last analysis (below) we were looking for sell setups on USDJPY around an over-bought zone. USDJPY rejected our upper brown trendline and traded lower. Now What? USDJPY is overall bullish from a medium-term perspective trading inside the orange rising broadening wedge, and it is currently around the lower orange trendline. Moreover, the green zone is a previous major high. So the highlighted lower purple circle is a strong area to look for buy setups as it is the intersection of the green support zone and lower orange trendline. (acting as non-horizontal support) As per my trading style: Since USDJPY is around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) Meanwhile, if we break the orange trendline downward, USDJPY can still trade lower to test the lower support. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
11
Looking for more downside... BUT!The downward momentum of the DXY continued to weigh on the USDJPY as the price broke through the key support level of 141 to reach a low of 138.50 through the trading session on Friday. Currently trading along the 139 price level, the price is anticipated to consolidate before trading to the downside, with the Yen expected to strengthen, following comments from BoJ’s Governor Kuroda that the Japanese economy is improving. The initial trade idea this morning was to sell the USDJPY if the price breaks beyond 139 with the next support levels at 138 (for a quick trade) and 136 (for a swing trade) However, as the DXY retraces and the USDJPY rebounds... a revision of the trade idea is to wait for a possible reaction at the 140 to 141 price area before selling down again.
Short
by JinDao_Tai
7
USDJPY 4hour Analysis November 13th, 2022USDJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bearish 4hour Trend: Bearish Trade scenario 1: We are looking more and more bearish on UJ as we change higher timeframe trends. Going into this week we want to look for structure, so that means a lower high forming near 140.500 with convincing bearish variations to short on. Trade scenario 2: The other likely scenario is UJ going for a more dramatic retrace up to 145.000. Look for higher lows above 140.500 to confirm this.
Short
by ForexLeague
2
InvestMate|USD/JPY Long-awaited correction💱USD/JPY Long-awaited correction 💱Continuing the thread started in a previous post in which I predicted a decline on USD/JPY . 💱In this post I would like to expand on my point of view 💱Last week the event everyone was waiting for was the interest rate decision, which rose to 4%. 💱This was followed by a press conference in which Jerome Powell spooked the markets with a hawkish tone, which first triggered a sharp wave of dollar weakness, and Powell's words were followed by a speculative attack to strengthen the dollar. 💱The next day already brought a cooling off and the market returned to discounting the scenario of a weakening dollar in the future and a slowdown in interest rate hikes. 💱 4 November Non Farm Payrolls performed very well with 261k new jobs created compared to the 200k the market was expecting. 💱After which the rate from the data we found out unemployment rose to 3.7% 💱All this data could have a positive impact on future inflation readings. Which has been falling for over 4 months. 💱All of the above data is contributing to the slow weakening of the dollar. 💱Looking at the USD/JPY chart where we are at 32 year highs. 💱In an uptrend since 2011. 💱The only significant corrections we have made in recent years were these 2: 💱Looking at the current one-year uptrend impulse, it is hard not to get the impression that in the long term we could use some kind of correction, at least to match the one in July this year 💱Or perhaps we are in for an even bigger correction returning to strong support points? 💱If Japan's rising inflation forced the central bank to raise interest rates, which are at record lows, and these developments combined with the BOJ's stated desire to strengthen the currency in recent weeks. We could see a massive downward slide, especially with the dollar 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
2
Risk Off Dominates as concerns over China’s latest outbreak riseThe risk off tone dominated price action as growing concerns over China’s latest coronavirus outbreak remained in focus, keeping the antipodeans pressured while supporting safe havens. Alongside the risk off tone, AUD was further pressured by comments from RBA Deputy Governor Bullock, who stated that although rates would rise further, they are nearing the point where they could “sit and wait” for a while. Given the above, AUDUSD briefly slipped below the 0.64 handle, while AUDJPY fell below the 94.00 handle, and EURAUD reclaimed the 1.56 handle. Looking ahead, today’s main event will be US CPI in the upcoming US session. However, there are also central bank speakers scheduled throughout the day, including BoE’s Ramsden and Tenreyro, Fed’s Mester and George, and BoC Governor Macklem.
by thunderpips
1
USDJPY M30: Bullish outlook seen, further upside above 145.90On the M30 time frame, prices are showing bullish order flow and a throwback to the support zone at 145.90, in line with the graphical resistance-turned-support zone and 61.8% Fibonacci retracement level presents an opportunity to play the bounce to the next resistance zone at 147.60. This 147.60 resistance zone lines up with the 78.6% Fibonacci retracement level. Prices are holding above the Ichimoku cloud as well, supporting the bullish bias.
Long
by T3-Consultancy
USDJPY is taking a break? 🦐USDPY on the 4h chart after an incredible bullish run has retraced over a support around the 147 level. The market is currently trading above the structure and during this week some big news such as FOMC today and the NFP on Friday might affect the US pairs. How can i approach this scenario? I will wait for the price to break and close below the level and if that happen i will consider a nice short order according to the Plancton's strategy rules. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
by InkyGrip
10
Could the USDJPY reach 149 again?The USDJPY fell slightly overnight but continues to trade along the support area of 146.70. As the price consolidates but fails to trade lower from this support level, look for a recovery in the strength of the DXY, which could cause the USDJPY to rebound higher, toward the interim resistance 148 to 149 price area. However, if the price breaks below 146.00, the USDJPY could trade significantly lower toward the next key support and round number level of 145.00.
Long
by JinDao_Tai
USDJPY 4hour Analysis November 6th, 2022USDJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bearish Trade scenario 1: Overall we have seen UJ be extremely bullish the last few months but now we’re seeing some 4hour bearishness with a ton of consolidation. Ideally this descending triangle pattern holds and price action continues bearish again. Look for clear bearish conviction to enter short. Trade scenario 2: For us to consider UJ bullish again we would first need to break some lower highs and start heading toward 150.000 resistance again.
Short
by ForexLeague
1
InvestMate|USD/JPY waterfall coming up💱USD/JPY waterfall coming up. 💱For some time now, since 21 October to be precise, we have seen a trend reversal on the USD/JPY pair. 💱The reversal was abrupt in nature, it was done through the monetary intervention that Japan made in order to stop weakening its currency. 💱Is there a chance that the uptrend that has been running on this pair since 3 October 2011 will be reversed? 💱Rather not, but a correction of the wave that has gained strength since January last year should finally take place. 💱I think we are in an ideal place to make such a correction. 💱This is due to the fact that Interest Rates in the US, have now been discounted and there is no longer as much of a push to raise them as a result of slowing inflation, and the not so terrible recession that most feared. 💱The market is still expecting one more interest rate hike tomorrow to the 4% level but given the positive sentiment and the already discounted news I think the decision may not have a significant impact on the price of the dollar with the Japanese yen. 💱 Confirming my thesis on the lower intervals we can see that from the intervention to the bottom measuring this wave. We made a correction of 50% after which we started to slide sharply, this can be seen by the size of the candles accompanying the descent standing out against the upward ones. 💱Wondering where the price might go I made 2 measurements. 1 measuring the fibo from the covid bottom which shows that the first important correction level falls to us at 0.236 which is at the price level of 140. The 2nd measurement is measuring the overbalance of the largest correction in the uptrend impulse lasting from the covid bottom which results at 143. 💱It is up to you to make a verdict on which of these levels we will see final 💱 Taking a position at the current moment the stop order will be at 148.280 and the take profit at one to one or around 143 giving us a risk/reward ratio of 3.72 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
13