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USDJPY

USDJPY bullish trend + 2 inside bars... the week of 28 Oct, 2024This pair is bullish on all time frames and price is above the 200dma, adding to my bullish bias. It is good when you can find a few reasons to take a trade and an inside bar formation is my next reason. The large bullish candle on 23/10 was followed not by 1 but 2 inside bars. This shows a period of consolidation and when it appears on a daily chart within a trending market it is a strong indicator of trend continuation. But a major s/r in the 152.80 region needs to be overcome before we look for bullish continuation. A convincing break above and a pullback to it will be the confirmation I need to take a long trade. If, however a strong move to the down side forms, that would invalidate my analysis. My initial target would be in the 157.80 region with the possibility to let some part of the trade run higher. This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!! It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Long
by Trading_Vista
Tokyo Core CPI complicates BoJ’s rate plansThe Japanese yen is showing limited movement on Friday. In the European session, USD/JPY is trading at 151.94, up 0.09%. Tokyo Core CPI, a leading indicator of inflation trends in Japan, fell to 1.8% y/y in October, down from 2% in September and just above the market estimate of 1.7%. This marked a second straight deceleration and was the lowest level since April. A key service inflation indicator also slowed in October, dropping from 2.7% to 2.6%, a four-month low. The decline in inflation is a disappointment for the Bank of Japan, which wants to see inflation remain sustainable around its 2% target before its raises interest rates on the path towards normalization. The BoJ meets next week and is expected to maintain rates. The central bank will release growth and inflation forecasts which could provide insights into future monetary policy. The cautious BoJ is unlikely to raise rates until early next unless inflation reverses its current downtrend and pushes higher. The US wraps up the week with core durable goods orders and UoM consumer sentiment. The manufacturing sector has contracted for four straight months and core durable goods orders are expected to fall 1% in September, after no change in August. The UoM consumer sentiment index is expected to fall to 68.9 in October, compared to 70.1 a month earlier. Consumers are unhappy about high inflation and there is uncertainty over the US election, with an extremely tight race between Donald Trump and Kamala Harris. USD/JPY is testing resistance at 1.5207. The next resistance line is 152.58 151.30 and 150.79 are providing support
by OANDA
End of the week market analysis25th October DXY: Consolidating along 104 round number (50% fib retracement) could trade down to 103.85 price level NZDUSD: Sell 0.5970 SL 20 TP 55 AUDUSD: Sell 0.6610 SL 20 TP 40 GBPUSD: Sell 1.30 SL 25 TP 90 EURUSD: Looking for reaction around 1.0840 USDJPY: Buy 152.20 SL 40 TP 100 USDCHF: Do Nothing USDCAD: Looking for bounce, retail sales data pending Buy 1.3825 SL 15 TP 40 Gold: Likely to fluctuate between 2700 and 2740 while directional bias develops
TVC:DXY
by JinDao_Tai
Fundamental Market Analysis for October 25, 2024 USDJPYThe Japanese yen (JPY) failed to capitalise on the previous day's recovery move against its US counterpart, attracting fresh sellers during the Asian session on Friday. The latest data, published on Thursday, revealed a contraction in business activity across Japan's manufacturing and services sectors in October. Furthermore, the decline in Tokyo's core inflation rate below the Bank of Japan's (BoJ) 2% target has led to a reduction in expectations of additional rate hikes in 2024, placing some pressure on the yen. Furthermore, the prevailing positive sentiment towards risk factors is eroding the JPY's status as a safe haven currency. This, coupled with the emergence of some US dollar (USD) buying, is providing support for the USD/JPY pair near the mid-151.000 level. However, the recent verbal intervention by the Japanese authorities is helping to prevent a significant drop in the JPY and limit the currency pair's decline. In light of the upcoming general election in Japan on Sunday, traders are monitoring the release of macroeconomic data from the US for short-term momentum amid ongoing political uncertainty. Trade recommendation: We follow the level of 152.000, when fixing above it we consider Buy positions, when rebounding we consider Sell positions.
by Fresh-Forexcast2004
USD/JPY H4 | Approaching pullback supportUSD/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 150.86 which is a pullback support. Stop loss is at 148.70 which is a level that lies underneath a pullback support. Take profit is at 154.94 which is a swing-high resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
3
USD/JPY: US Elections and Middle East War!USD/JPY fell towards 152.00 after reaching a 12-week high near 153.20, due to a temporary correction in the US Dollar (USD), which saw the Dollar Index (DXY) dip to 104.20. Despite this, the Dollar's outlook remains bullish, supported by positive economic data such as the October US services PMI, which exceeded expectations with an expansion to 55.3. Political uncertainty and the upcoming US presidential elections further enhance the Dollar's appeal as a safe-haven currency. In Japan, the cautious statements from Bank of Japan (BoJ) Governor Kazuo Ueda, who indicated a gradual approach to assessing inflation, suggest that further rate hikes are unlikely in the near term. This divergence in monetary policies between the US and Japan continues to support a bullish trend for USD/JPY, with the current correction seen as temporary.
Long
by Forex48_TradingAcademy
1
USDJPY | Perspective for the new week | Follow-upAfter an 8-week break from USD/JPY, I’m excited to bring it back to our watchlist as we prepare for next week’s trading! Over the past 9 months, this pair has experienced major shifts—from early-year expectations of Japan's monetary policy changes to the dollar's surge mid-year and the USD/JPY oscillating around the 150 zone in October. Key drivers include Japan's inflation data, with the latest CPI rising 2.5% YoY in September. As market rumours of another intervention grow, what opportunities lie ahead? Let's explore the key levels, trends, and setups for the coming week. USDJPY Technical Analysis: As discussed in the video, the recent upward momentum is showing signs of easing, leaving room for a possible USD pullback. However, for a confirmed uptrend continuation, we need to see sustained trading above 150.000. Our detailed technical analysis focused on the current bullish market structure, with particular attention to the key level of 150.000, set as a pivotal point for the upcoming week. This level gains significance as a potential catalyst for a clear uptrend if buying pressure persists. The market's response to this level at the beginning of the new week will strongly influence the direction of price action in the days ahead. #JapanInflation #USDJPY #Yen #BoJ #FederalReserve #Forex #CurrencyTrading #EconomicAnalysis #MarketAnalysis #Investing #Finance
by darcsherry
USOIL Ready for $75!WTI oil prices have climbed back to $71.60 per barrel, supported by geopolitical tensions in the Middle East, particularly due to the conflict between Israel and Hezbollah. The possibility of disruptions in oil supplies from the region fuels market uncertainty. However, the significant increase in US crude oil inventories, far exceeding expectations, is putting downward pressure on prices, indicating a potential oversupply. Additionally, the strengthening US dollar, which has reached its highest level since July, is reducing oil demand by making it more expensive for foreign buyers. These factors limit the potential for price increases, despite geopolitical concerns.
TVC:USOILLong
by Forex48_TradingAcademy
1
Bearish drop off pullback resistance?USD/JPY is reacting off the resistance level which is a pullback resistance and could drop from this level to our take profit. Entry: 152.52 Why we like it: There is a pullback resistance level. Stop loss: 154.94 Why we like it: There is a pullback resistance level. Take profit: 150.85 Why we like it: There is a pullback support level that aligns with the 621.8% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
XAU/USD: Ready for a Pullback!The price of gold (XAU/USD) has recently retreated from an all-time high of around $2,560 and is currently trading slightly below $2,720, complicated by the strength of the US dollar and rising US Treasury yields. Technically, the $2,750 level has shown signs of rejection, making it a key resistance, while immediate support is located at $2,725, near the lower boundary of a two-week ascending channel. A convincing break below this support could trigger technical selling, pushing the price down toward $2,700 and subsequently to $2,680-2,675, where the 100-period simple moving average resides. Despite overbought conditions and pressure from the dollar, political uncertainty and the risk of escalating tensions in the Middle East continue to support demand for gold as a safe haven. That said, gold seems poised for a correction toward $2,675, and we will see in the coming days if it gives us a signal for a short entry. Good evening and happy trading to everyone.
OANDA:XAUUSDShort
by Forex48_TradingAcademy
1
USDJPY Skyrockets Beyond All Targets – Massive Breakout CompleteTechnical Analysis: USDJPY on the 15-minute time frame executed a long trade with an entry at 149.604. Backed by strong bullish momentum, it swiftly met all target points. The pair rallied significantly with the Risological Dotted Trendline providing upward support throughout the trade, indicating that the trend was well-supported and poised for further gains. Key Levels: Entry: 149.604 Stop Loss (SL): 149.342 Target 1 (TP1): 149.926 ✅ Target 2 (TP2): 150.449 ✅ Target 3 (TP3): 150.971 ✅ Target 4 (TP4): 151.294 ✅ Observations: The strong uptrend was consistent, with price respecting the 200 EMA (Risological Dotted Trendline) as dynamic support.Volume surged as the price hit TP3, accelerating the move towards TP4. All targets were cleanly hit, confirming the strength of this breakout. USDJPY's breakout showcases the power of technical alignment. The bullish trend held firmly above the Risological dotted trend line, driving the price to hit all targets in this well-timed trade. The pair remains bullish, and future setups should be monitored for additional opportunities.
Long
by ProfitsNinja
Yen slides as IMF cuts Japan’s growth estimateThe Japanese yen has posted sharp losses on Wednesday. In the European session, USD/JPY is trading at 152.67, up 1.06% at the time of writing. The yen is down 2.1% this week and has plunged 6.3% in October. The International Monetary Fund slashed its 2024 growth forecast for Japan to just 0.3%, down sharply from the 0.7% forecast in June. This is the lowest estimate since 2020, during the Covid-19 pandemic which severely impacted the economy. The IMF highlighted the “fading of a one-off boost” in tourism and disruptions in auto supply chains. Japan’s economy grew 1.7% in 2023, aided by a strong increase in tourism. The IMF said it expects the economy to rebound in 2025 and expand 1.1% as private consumption and wage growth improve, assuming that the Bank of Japan continues to raise rates “toward a neutral setting of about 1.5%.” The BoJ raised interest rates out of negative territory in July to the current rate of 0.25%. The markets are expecting further hikes but the central bank has been very cautious and wants to see evidence of sustainable inflation at 2% before making additional hikes. This has made the BoJ an outlier among major central banks, most of which are in a rate-cutting cycle in response to falling inflation. Japan releases Tokyo Core CPI, a key inflation indicator, on Thursday. The indicator is expected to ease to 1.7% in September, down from 2% in August. The BoJ meets on Oct. 30-31, right after a general election on Oct. 27. The Bank will likely maintain policy settings but the markets will be keeping a close eye on the quarterly projections for inflation and growth. USD/JPY has pushed above several resistance lines today and the next resistance line is 153.19 150.93 and 150.66 are providing support
by OANDA