Get started

USDJPY-TRADE

USDJPY Strong Bullish LongUSD/JPY tests new highs as Treasury yields rise. While the market expects that the Fed would stop after an additional 25 bps rate hike in July, BoJ’s ultra-dovish policy puts too much pressure on the Japanese yen. See also the following related Trading Ideas USDJPY published apr 2023 USDJPY published may2023 Taking a look at the daily chart, a move above the resistance in the 144.20 – 145.20 range will push USD/JPY towards the next resistance level at 148.35 – 148.75. Higher Timeframes Showing Lack of Nearby Resistance From the weekly timeframe, I see the USD/JPY eyeballing a Harmonic Bat pattern’s Potential Reversal Zone (PRZ) between ¥149.09 and ¥146.68 (made up of a deep 88.6% Fibonacci retracement ratio , a 1.618% Fibonacci projection and a 200% extension ratio). Given the limited resistance overhead on the weekly chart until the observed PRZ, additional outperformance may be on the table for the currency pair. Moving down to the daily timeframe, last week retested a recently breached resistance level at ¥141.60 and pencilled in support. You might acknowledge that resistance calls for attention overhead at ¥144.95, with a break north of here unearthing the weekly timeframe’s Harmonic PRZ highlighted above. What is also technically interesting on the daily chart is that just above ¥144.95 resides a pattern profit objective for an ascending triangle pattern (¥137.91/¥129.64) at ¥145.90, which joins up closely with the lower side of the weekly Harmonic PRZ. H1 Timeframe Working with ¥144 and ¥143 Finally, from the H1 timeframe, we can see that price recently recoiled from ¥143 and is on the verge of approaching resistance from ¥143.90 and the ¥144 psychological handle. While follow-through upside could be seen, as suggested by the higher timeframes (through a lack of resistance), which may send H1 price above ¥144 and entice breakout buying in the direction of at least daily resistance at ¥144.95, a whipsaw beneath ¥143 could equally still occur. A whipsaw (or stop run) beneath ¥143 might be enough to attract those seeking dip-buying opportunities from H1 support at ¥142.78, targeting a break above ¥144 and continuation moves higher. Strategy Bullish Trend Trend continuation confirmation:Positive
Long
by DaveBrascoFX
USD/JPY has rallied to fresh highs, fade-n-scalp opportunityBloomberg's article circulated the wires as the Tokyo session opened that reported on President Xi Jinping's and Russian leader Vladimir Putin's plans to attend a Group of 20 summit in the resort island of Bali later this year, Indonesian President Joko Widodo said. This sent the US dollar higher but has offered an opportunity to fade the news from a seriously good-looking area of resistance on the daily chart. The following analysis should be taken as a cue for a sell set-up, but traders need to engage only at the right timings. This could develop in the European open for instance and we will want to see a peak formation place prior to a move into the low-hanging fruit to the downside. Some pointers - check for bearish structure, double tops for instance and make sure the price has broken the support line. A sell limit once the trendline is broken and a structure point has been clearly taken out would be the ideal way to engage on a pullback into resistance. the video should give some clues as to how this could be approached for the European day ahead. Bonne chance!
Short
by Ross-J-Burland
USD vs. YEN - Swing Trading Idea - Uptrend Coming Soon - 30 JulyPEPPERSTONE:USDJPY strong uptrend needed correction. In this moment this correction is healthy. I don't expect USDJPY to continue sharp drop to levels over 130 and 128. DXY corrected over 3% and there are big probability for a range move in one month period ahead. - By Elliot Waves the price forming A-B-C correction. - In the end of C-5 corrective wave - Sharp volatility capitulation If you have any questions related to this trading idea I will be happy to provide you with answers.
Long
by TradingTie
1
USDJPY 21-EMA SupportUSD/JPY extends range trade above 21-EMA, bias neutral Federal Open Market Committee (FOMC) Minutes released on Wednesday favored the Fed hawks. Technical Analysis: USD/JPY is grinding sideways for the 4th straight session GMMA indicator shows major trend is bullish, while minor trend has gone neutral Momentum is in favor of bulls, volatility is low Bearish RSI divergence keeps scope for more weakness Bounce off 21-EMA will change near-term dynamics
Long
by Goldsignal75
USDJPY Broad falling wedge leads to the bullish runUSDJPY Because of the broad weakness in USD this pair has visit some south extreme and due to the final quarter and year end fixing and selling of USD is also acted as good fundamental factor to short this pair. USDJPY has reached around 102.00 and got some rejection at this level and this level was currently acting as year(2021) low. We can see a series of broad falling wedge pattern in this chart which is a clear sign of bullish trend and we have identified some triangle breakouts too. Interms of average daily moving of major pairs USDJPY is lagging behind the counterparts Positive risk sentiment will not favor the JPY. Recent vaccine developments and smooth political transition in USA will give a positive hope for the whole economy and the economic figures are much improving in recent months and the number of peoples who are claiming the unemployment benefits has in declining trend. The FED has reiterate the they will not hike the interest rates until the inflation is well above the 2%. This is average inflation targeting. DXY is also turned positive. More bullish run was expected in USDPY.
Long
by velmunis