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Usdjpyanalysis

USDJPY BUY | Idea Trading AnalysisUSDJPY is falling towards a support level which is a pullback support and could bounce from this level to our take profit. We expect a decline in the channel after testing the current level which suggests that the price will continue to rise Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great BUY opportunity USDJPY I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Long
by TheGrove
7
USDJPY Analysis for 03/10/2024: Anticipating a Slightly Bullish.As of October 3, 2024, the USDJPY currency pair is exhibiting signs of a slightly bullish bias. Several fundamental factors and market conditions are aligning to support this outlook. Traders focusing on USDJPY today should be aware of key drivers influencing this potential movement. Key Drivers for USDJPY Bullish Bias 1. US Dollar Strength - The U.S. dollar is maintaining its strength amid ongoing Federal Reserve hawkishness. Recent speeches from Fed officials have reinforced the possibility of additional interest rate hikes, which supports the USD. Higher U.S. interest rates typically attract foreign investment, leading to increased demand for the dollar. - Today, expectations of economic resilience in the U.S. are high, with upcoming non-farm payrolls and inflation data later in the week likely to cement this bullish outlook. 2. Divergence in Central Bank Policies - The Federal Reserve’s stance is increasingly at odds with the Bank of Japan (BoJ), which remains committed to ultra-loose monetary policies. The BoJ continues to support its yield curve control program, making the yen less attractive for investors. As the U.S. tightens, the BoJ’s dovish position could lead to further depreciation of the yen, supporting a bullish USDJPY trend. - Today’s market sentiment reflects this divergence, as traders expect the BoJ to stay accommodative while the U.S. dollar benefits from higher yields. 3. Treasury Yields on the Rise - U.S. Treasury yields, especially the 10-year note, have been climbing. Higher yields are a crucial indicator of rising demand for the dollar. As bond yields rise, so does the attractiveness of U.S. assets, drawing capital away from yen-denominated assets. - With Treasury yields set to increase, USDJPY is likely to follow a bullish trajectory today, as investors seek better returns from U.S. bonds. 4. Risk-On Sentiment - Today’s global risk sentiment is relatively optimistic, which traditionally favors higher-yielding currencies like the USD over the safe-haven yen. Equity markets have seen gains, and positive sentiment around U.S. economic data could continue to support risk-on trades, driving USDJPY higher. Technical Factors Supporting Bullish Bias - Support and Resistance Levels: Currently, USDJPY is trading near key support levels around 149.00. A successful hold above this zone could encourage a bullish push towards the 150.00 psychological level. Breaking through this level could lead to further upward momentum, strengthening the pair's bullish bias. - Moving Averages: On the daily chart, USDJPY remains above both the 50-day and 200-day moving averages, indicating a well-established uptrend. Conclusion: USDJPY Slightly Bullish Bias for 03/10/2024 In conclusion, the USDJPY pair is expected to maintain a slightly bullish bias today, supported by strong U.S. dollar fundamentals, central bank divergence, rising U.S. Treasury yields, and favorable market sentiment. Traders should watch for key levels of resistance and monitor U.S. data releases later this week, which could provide additional bullish momentum for the pair. This analysis reflects the latest fundamental factors and market conditions for USDJPY on October 3, 2024, offering insights for traders seeking to capitalize on today's potential bullish movement. Keywords for SEO: USDJPY analysis, USDJPY forecast, USDJPY trading, USDJPY bullish bias, U.S. dollar strength, Bank of Japan monetary policy, Federal Reserve interest rates, U.S. Treasury yields, Forex market analysis, USDJPY 03/10/2024, TradingView analysis.
Long
by PERFECT_MFG
Key Support Holds for USD/JPY: Will the Pair Break Past 150?On Friday, USD/JPY experienced a significant sell-off, losing around 500 pips in a sharp downward movement. However, after reaching the key horizontal support level at 141.64, the pair managed to find some relief and began a recovery, suggesting that the recent decline may have been short-lived. Currently, USD/JPY is working to negate this steep sell-off, indicating that the recovery process could be underway. In my view, USD/JPY is poised to continue its rebound from the 162-140 decline, with the potential to surpass the psychological barrier of 150. If the pair successfully breaks through this level, it could head toward the important resistance zone near 152, which will be a critical point for further bullish momentum. For shorter-term traders, there are additional levels to monitor before reaching the 150 mark. Key upside targets include 147.30 and 149.40, both of which present potential profit-taking opportunities as the pair continues its recovery.
Long
by Mihai_Iacob
USDJPY Analysis: Slightly Bullish Bias on 02/10/2024. As we head into the 2nd of October 2024, the USDJPY currency pair shows signs of a slightly bullish bias. Several key factors, including fundamental drivers and technical market conditions, support this outlook. Traders and investors looking for insights into the pair should consider the following factors influencing USDJPY today. 1. US Dollar Strength The US dollar has been supported by strong economic data coming out of the US, especially with the continued resilience in the labor market. The Non-Farm Payroll (NFP) report scheduled later this week is anticipated to reflect strong employment trends, which may lead to speculation that the Federal Reserve could maintain its hawkish stance on interest rates. This has kept the USD well-supported across the board, and USDJPY is no exception. Higher interest rate expectations typically benefit the USD, making it more attractive to investors seeking yield. 2. Bank of Japan’s Monetary Policy On the other side, the Bank of Japan (BoJ) remains committed to its ultra-loose monetary policy. With inflation in Japan still struggling to gain significant traction, the BoJ is unlikely to shift its dovish stance in the near term. The interest rate differential between the US and Japan continues to widen, favoring USDJPY bulls. This divergence in policy is one of the major contributors to the bullish sentiment in the pair. 3. Risk Sentiment and Safe-Haven Demand Global risk sentiment has improved slightly, leading to reduced demand for safe-haven assets such as the Japanese yen. The yen typically strengthens in times of market uncertainty, but with equities stabilizing and geopolitical tensions easing, there’s less of a need for safe-haven assets today. This reduces demand for the yen and lends support to USDJPY’s bullish outlook. 4. Technicals Pointing to Upside From a technical perspective, USDJPY has broken above key resistance levels in recent sessions. The pair is trading above its 50-day and 100-day moving averages, signaling strong upward momentum. Additionally, the RSI (Relative Strength Index) remains in neutral territory, allowing room for further upside without signaling overbought conditions. If USDJPY can hold above the 149.00 psychological level, further gains toward the 150.00 mark are possible. 5. Upcoming Economic Events While no major Japanese economic releases are expected today, traders should keep an eye on US data releases, particularly any statements from Federal Reserve officials. Any hawkish commentary could further fuel USDJPY’s bullish trajectory. Conclusion In summary, the fundamental and technical factors point toward a slightly bullish bias for USDJPY on 02/10/2024. The ongoing divergence between the Federal Reserve’s hawkish stance and the BoJ’s dovish policy, coupled with solid US economic data and improving risk sentiment, supports this outlook. Traders should remain mindful of any new developments in the US that could further impact the pair’s direction. Keywords for SEO Optimization: USDJPY analysis, USDJPY forecast, USDJPY bullish bias, US dollar strength, Bank of Japan monetary policy, BoJ, Federal Reserve interest rates, USDJPY technical analysis, USDJPY 02/10/2024, forex trading, USDJPY tradingview analysis, forex market outlook, USDJPY fundamental factors, US economic data impact on USDJPY, USDJPY price prediction. This article provides a comprehensive overview of the potential USDJPY movement today, offering valuable insights for forex traders looking to capitalize on the pair’s slightly bullish bias.
Long
by PERFECT_MFG
USD/JPY Short Setup: 30-Minute ChartI'm looking at a potential short position on USD/JPY based on the current price action and market structure. Entry on Retracement: 143.750 after the recent breakdown of the ascending trendline. Stop Loss (SL): 144.000 (25 pips). Take Profit (TP): I'm targeting multiple TPs along the way for scaling out of the position: TP 1: 143.500 (+18.9 pips) – A conservative first target to lock in some early profits. TP 2: 143.200 (+48.9 pips) – Close to the previous support, scaling out of a portion of the trade. TP 3: 142.800 (+88.9 pips) – A key support level based on historical price action. TP 4: 142.300 (+138.9 pips) – Next significant support zone. TP 5: 141.800 (+188.9 pips) – Final target at a major psychological level. The idea here is to capture the downward move following a potential retracement into resistance near 143.750, which aligns with previous structure. The overall bearish sentiment could drive prices lower toward the major target areas.
Short
by PipShiesty
1
USDJPY Analysis for 01/10/2024: A Slightly Bullish Bias ExpectedThe USDJPY currency pair continues to exhibit a slightly bullish bias as of October 1, 2024, driven by the current fundamental factors and prevailing market conditions. In this article, we will explore the key drivers behind this trend, providing forex traders with actionable insights for today’s trading session. Key Drivers Behind USDJPY Bullish Bias 1. Hawkish U.S. Federal Reserve Policy One of the key factors supporting the bullish outlook for USDJPY is the ongoing hawkish stance of the Federal Reserve. The Fed remains committed to controlling inflation, which has led to higher interest rates in the U.S. This rate differential favors the U.S. dollar over the Japanese yen, as investors are drawn to the higher returns offered by U.S. assets. The expectation of steady or potentially higher rates from the Fed further boosts demand for the U.S. dollar, pushing USDJPY higher. 2. Weakness in the Japanese Yen The Bank of Japan (BoJ) continues its ultra-loose monetary policy, with little indication of shifting towards a more hawkish stance. This dovish approach, coupled with a lack of inflationary pressure in Japan, has led to a sustained weakness in the yen. As long as the BoJ maintains its negative interest rate policy and yields remain low, USDJPY is likely to see upward momentum, supported by the widening gap between U.S. and Japanese interest rates. 3. U.S. Economic Strength Recent U.S. economic data continues to show resilience, particularly in the labor market and consumer spending. This strength provides further justification for the Fed’s hawkish stance and supports a bullish bias for USDJPY. As long as the U.S. economy outperforms its global peers, particularly Japan, the dollar is likely to retain its strength against the yen. 4. Interest Rate Differentials The widening interest rate differential between U.S. and Japan is another significant factor driving USDJPY higher. U.S. bond yields remain elevated, attracting foreign investment into U.S. markets, while Japan’s government bonds offer little to no yield. This creates a favorable environment for the U.S. dollar, keeping upward pressure on USDJPY. 5. Geopolitical Stability in the U.S. While geopolitical risks globally remain a concern, the relative stability in the U.S. compared to regions like Europe or Asia continues to attract investors to the dollar as a safe-haven asset. The yen, traditionally viewed as a safe-haven currency, is seeing reduced demand due to Japan’s domestic challenges and the BoJ’s accommodative policy, further boosting USDJPY. Technical Outlook From a technical perspective, USDJPY is currently trading near resistance levels, with the 150.00 mark acting as a key psychological barrier. A break above this level could open the door for further gains toward the 151.00 level. Support is seen around 148.50, which could act as a floor for any short-term pullbacks. Traders should monitor these levels closely as the pair’s momentum remains positive. Conclusion: USDJPY Bullish Sentiment Expected to Continue In conclusion, USDJPY is likely to maintain a slightly bullish bias today, driven by the ongoing divergence in monetary policies between the U.S. and Japan, strong U.S. economic fundamentals, and interest rate differentials. Traders should look for potential upside opportunities as the pair tests key resistance levels, with U.S. data releases and BoJ policy statements remaining crucial to shaping the pair’s direction. Keywords for SEO: USDJPY analysis, bullish bias, USD to JPY forecast, forex trading USDJPY, USDJPY technical outlook, Federal Reserve impact on USDJPY, Bank of Japan policy, interest rate differentials, U.S. dollar strength, USDJPY key levels, USDJPY trend today.
Long
by PERFECT_MFG
USD/JPY "GOPHER" Bank Money Heist Plan on Bullish Side.Hallo! My Dear Robbers / Money Makers & Losers, 🤑 💰 This is our master plan to Heist USD/JPY "GOPHER" Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal / Trap at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Attention for Scalpers : If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money 💰. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money. Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low Stop Loss 🛑 : Recent Swing Low using 2H timeframe Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style. Stay tuned with me and see you again with another Heist Plan..... 🫂
Long
by Thief_Trader
USDJPY - one n only area, what's next??#USDJPY.. perfectly holding out major supporting area of the month n quarter as we told you in our last couple of ideas regarding USDJPY. Now market is just near to his one of the most important resistance of the week n today. That is 143.50 Keep close that area because it will be your key level in tomorrow and in overall move. If market hold it then again drop expected below that otherwise after that level market will leads you towards upside mentioned areas. Good luck Trade wisely
by AdilHussain731333
USDJPY Analysis for 30/09/2024: Potential Slightly Bullish BiasThe USDJPY pair is poised for a potential slight bullish bias on 30/09/2024, driven by key fundamental and technical factors. In this article, we'll explore the major elements influencing the USDJPY pair, including monetary policy, economic data releases, and broader market sentiment. Traders and investors on TradingView should consider these factors when positioning themselves in the market. Key Drivers Supporting a Bullish Bias: 1. Federal Reserve Hawkish Tone: The Federal Reserve has maintained a hawkish stance in recent weeks, signaling its commitment to keeping interest rates elevated to combat persistent inflation. The strong U.S. dollar has been supported by the Fed’s actions, and this policy direction is expected to continue today. With U.S. interest rates relatively higher compared to Japan’s negative or near-zero rates, the USDJPY pair is likely to experience upward momentum as traders seek yield differentials. 2. Bank of Japan's Dovish Stance: The Bank of Japan (BOJ) continues to maintain its ultra-loose monetary policy, with no indication of raising rates in the near term. This divergence in monetary policy between the BOJ and the Fed remains a key driver of USDJPY bullishness. The BOJ has consistently kept rates low, supporting the Yen's weakness against stronger currencies like the USD. 3. Positive U.S. Economic Data: Recent U.S. economic data, such as strong retail sales and consumer sentiment, has painted a robust picture of the American economy. This has bolstered confidence in the dollar, making the USDJPY more attractive to traders. In contrast, Japan’s economic outlook has been more muted, adding to the pressure on the Yen. 4. Safe-Haven Demand Moderating: Global geopolitical tensions and fears of a recession have softened in recent days, reducing demand for safe-haven assets like the Japanese Yen. The easing of these concerns has contributed to the Yen’s depreciation, while the dollar remains strong due to robust economic fundamentals. Technical Outlook for USDJPY: On the technical front, USDJPY has been trading within a well-defined upward channel. The 50-day moving average is trending higher, and the pair is currently testing key resistance levels around 149.50. A breakout above this level could signal further bullish momentum. Additionally, momentum indicators such as the RSI are not yet overbought, suggesting room for additional gains before any potential pullback. Support Levels: 148.70, 148.00 Resistance Levels: 149.50, 150.00 Conclusion: Based on the current fundamental backdrop and technical indicators, USDJPY is expected to show a slight bullish bias today, 30/09/2024. Traders should watch for any new comments from Federal Reserve officials, as well as any geopolitical developments that could impact safe-haven flows. As the divergence between the Fed and BOJ's policies remains a dominant theme, this pair could continue to push higher in the near term.
Long
by PERFECT_MFG
USDJPY Analysis: Anticipating a Slight Bearish Bias for Next WeeUSDJPY Analysis: Anticipating a Slight Bearish Bias for Next Week Date: 28/09/2024 As we look ahead to the coming week for the USDJPY currency pair, a slight bearish bias seems likely based on the latest fundamental factors and market conditions. Several key drivers contribute to this outlook, and in this article, we'll explore the factors that may weigh on the USDJPY pair, creating potential opportunities for traders. 1. Dovish Signals from the Federal Reserve One of the primary drivers for USDJPY's potential bearish bias next week is the recent dovish shift in the Federal Reserve's tone. While the Fed has maintained a firm stance on keeping interest rates elevated to curb inflation, recent economic data in the U.S. suggest that inflationary pressures may be easing. If the Fed signals a slower pace of tightening or hints at rate cuts in the future, this could weaken the U.S. dollar, pushing the USDJPY lower. The key phrase here is "inflation slowdown," as this could be the primary focus in upcoming economic releases. Traders should keep a close eye on any updates from Federal Reserve Chair Jerome Powell and other policymakers, as dovish commentary could lead to further USD weakness. 2. Japan's Central Bank Policy On the other side of the coin, the Bank of Japan (BoJ) continues its ultra-loose monetary policy. While the BoJ has resisted raising interest rates, there have been increasing discussions around tweaking its yield curve control (YCC) program. If the BoJ surprises markets by adjusting its policy, this could provide a boost to the Japanese yen, exerting downward pressure on USDJPY. The BoJ's governor, Kazuo Ueda, has emphasized that they will remain accommodative, but with inflation in Japan beginning to rise, markets may start to price in a more hawkish BoJ in the near future. 3. U.S. Economic Data and Dollar Sentiment U.S. data releases, including the upcoming non-farm payrolls (NFP) report and the core PCE (Personal Consumption Expenditures) index, will be crucial in shaping the USDJPY trend next week. A weak NFP or lower-than-expected PCE inflation figures could weigh on the U.S. dollar, contributing to a bearish outlook for USDJPY. Additionally, geopolitical tensions or unexpected developments in global markets could drive safe-haven demand for the yen, pushing USDJPY lower. With risk-off sentiment growing due to uncertainties in global markets, the yen may see inflows as investors seek safety. 4. Technical Analysis From a technical perspective, USDJPY has been hovering near key resistance levels, and the pair’s inability to break higher could signal a pullback. If USDJPY fails to hold above the 149.00 level, it could retrace toward the 147.50 and 146.00 support areas. Short-term momentum indicators, such as the RSI (Relative Strength Index), are showing signs of overbought conditions, further supporting the potential for a corrective move lower. Conclusion In summary, the USDJPY currency pair could experience a slightly bearish bias next week, driven by dovish signals from the Federal Reserve, potential shifts in Japan’s monetary policy, and weaker U.S. economic data. Traders should remain vigilant about key data releases, Fed speeches, and any surprises from the Bank of Japan. As always, proper risk management is crucial when navigating currency markets. Stay tuned for more updates on USDJPY and other forex pairs. As we enter a potentially volatile week, it's essential to monitor these key drivers and make informed trading decisions. Keywords: USDJPY analysis, Federal Reserve policy, Bank of Japan, USDJPY bearish bias, forex trading, USDJPY technical analysis, USDJPY forecast, U.S. economic data, dovish Fed signals, forex trading signals, tradingview analysis
Short
by PERFECT_MFG
USDJPY weekly analysis: AM NEVER WRONG IN THE DIRECTION EVER !!USDJPY Weekly Analysis (27/09/2024): Slightly Bullish Bias Ahead As we approach the end of September 2024, USDJPY has shown signs of a potential bullish bias for the upcoming week. Traders and investors are closely monitoring the latest fundamental factors that could shape the pair's movement. In this article, we will provide a detailed analysis of USDJPY’s outlook, focusing on the driving factors, current market conditions, and why we expect a slightly bullish bias this week. Key Fundamental Drivers Behind the USDJPY Bullish Outlook 1. Diverging Monetary Policies One of the main reasons for the slightly bullish bias in USDJPY this week is the ongoing divergence between the monetary policies of the Federal Reserve (Fed) and the Bank of Japan (BoJ). The Fed has maintained its relatively hawkish stance, keeping interest rates elevated to combat inflation. In contrast, the BoJ continues its ultra-loose monetary policy, with little indication of tightening any time soon. The widening interest rate differential between the U.S. and Japan is pushing investors towards the U.S. dollar, favoring the USDJPY pair. This dynamic is likely to continue in the coming days as the market digests recent central bank communications. 2. U.S. Economic Resilience Recent U.S. economic data has exceeded expectations, reinforcing the bullish sentiment for the dollar. The U.S. GDP figures, released earlier this week, showed that the economy grew at a faster pace than anticipated, further solidifying the case for the Fed's tight policy stance. Additionally, strong job market data continues to support the idea of a resilient U.S. economy, boosting demand for the USD. With these positive economic indicators, the U.S. dollar is expected to remain supported, potentially driving USDJPY higher. 3. Safe Haven Demand Easing While the Japanese yen is traditionally considered a safe-haven currency, the recent stabilization in global financial markets has reduced the appeal of the yen as a risk-off asset. Investors are currently more willing to take on risk in search of higher yields, which benefits the U.S. dollar. The calm in global markets, combined with Japan’s low-interest environment, reduces the attractiveness of the yen, giving USDJPY a bullish tilt. Current Market Conditions: USDJPY Technical Outlook From a technical perspective, USDJPY is trading within a consolidation range, but recent price action hints at an upward breakout. The pair has held above the key 148.00 support level, with momentum indicators such as the Relative Strength Index (RSI) showing signs of strengthening bullish momentum. If USDJPY breaks above the 149.00 resistance level this week, we could see further gains toward the psychological 150.00 level. However, traders should watch for any signs of overbought conditions, which could lead to short-term pullbacks. Key Risks to Consider While the fundamental and technical factors point to a slightly bullish bias, it is essential to be aware of potential risks that could derail this outlook: - U.S. Government Shutdown: Ongoing discussions about a potential U.S. government shutdown could introduce market volatility. If the shutdown is prolonged, it could lead to risk-off sentiment, favoring the yen as a safe haven and weakening USDJPY. - Geopolitical Developments: Any sudden escalation in geopolitical tensions could boost safe-haven demand for the yen, putting downward pressure on USDJPY. Conclusion: Slight Bullish Bias for USDJPY this Week Based on the latest fundamental drivers and current market conditions, USDJPY is expected to maintain a slightly bullish bias this week. The diverging monetary policies between the Fed and BoJ, coupled with strong U.S. economic data and easing safe-haven demand, are likely to keep the pair supported. However, traders should stay vigilant for potential risks that could affect the outlook. Key Levels to Watch: Support: 148.00 Resistance: 149.00 and 150.00 As always, manage risk carefully and stay updated on market developments throughout the week. Keep an eye on the U.S. government situation and any central bank announcements that could shift market sentiment. For more updates and detailed analysis on USDJPY and other currency pairs, follow me on TradingView. Keywords: - USDJPY analysis - USDJPY forecast 27/09/2024 - USDJPY weekly outlook - USDJPY bullish bias - USDJPY key levels - USDJPY trading strategy - USDJPY technical analysis - USDJPY support and resistance - Federal Reserve and USDJPY - Bank of Japan impact on USDJPY - USDJPY interest rate differential - USDJPY trading signals - USDJPY market conditions - USDJPY forex analysis - USDJPY price action - USDJPY technical indicators - USDJPY consolidation pattern - USDJPY breakout levels - USDJPY trade opportunities - Forex trading USDJPY
Long
by PERFECT_MFG
#USDJPY 1HUSDJPY (US Dollar / Japanese Yen) Timeframe: 1-Hour (1H) Pattern: Rising Wedge A rising wedge pattern has developed on the 1-hour chart of USDJPY. This pattern is formed by two upward-sloping trendlines that converge as the price continues to make higher highs and higher lows. While the price is trending upward, the narrowing wedge suggests that bullish momentum is weakening, typically signaling a potential reversal. The rising wedge is considered a bearish pattern, as it often leads to a downside breakout once the price breaks below the lower trendline. Forecast: Sell Given the current formation, the forecast recommends a selling opportunity. The price is likely to break down from the rising wedge, leading to a potential reversal and a decline in the pair's value. A confirmed breakdown below the lower boundary of the wedge would signal further bearish momentum. Technical Outlook: Resistance Level: The upper boundary of the wedge, where buying pressure could weaken. Support Level: The lower boundary, where a breakout would trigger a selling opportunity. Key Levels to Watch: A break below the wedge’s support line would reinforce the bearish forecast, signaling a potential downward move. Traders should look for confirmation through bearish candlestick patterns or increased selling volume to validate their short positions. Monitor for key economic indicators, particularly US dollar movements influenced by Federal Reserve policies or safe-haven demand for the Japanese yen, which could impact this pair’s direction.
Short
by PIPSFIGHTER
USDJPY Forecast: Slight Bullish Bias Expected on 26/09/2024Introduction As we step into the trading session on 26/09/2024, the USDJPY currency pair shows signs of a potential slight bullish bias. This article delves into the latest fundamental factors and market conditions that are likely to drive the pair today. Key economic indicators and geopolitical events will be crucial for traders analyzing USDJPY. If you’re trading USDJPY today or simply following the forex market, this analysis will help you gauge the key factors influencing its movement. Fundamental Drivers for USDJPY's Bullish Outlook 1. US Dollar Strength Supported by Fed’s Hawkish Tone A major factor behind the USDJPY bullish sentiment today is the continued hawkish stance from the Federal Reserve. Following the FOMC meeting earlier this month, Fed Chair Jerome Powell reaffirmed that inflation is still a major concern, and interest rates will remain elevated for longer. This has boosted the US dollar’s value, making it attractive against the Japanese yen, which continues to suffer from the Bank of Japan’s ultra-loose monetary policy. 2. Diverging Monetary Policies The Bank of Japan (BoJ) remains committed to its yield curve control program, keeping interest rates at near-zero levels. With no signs of the BoJ moving toward monetary tightening, the Japanese yen remains under pressure. On the contrary, US interest rates are already among the highest among major economies, pushing the USDJPY pair higher as investors seek better returns in US dollar-denominated assets. 3. US Treasury Yields Influence The correlation between US Treasury yields and the USDJPY pair remains strong. As of 26/09/2024, the 10-year US Treasury yield has climbed further, supported by expectations of future rate hikes. This surge in bond yields bolsters demand for the USD, leading to upward momentum in USDJPY. Higher yields make US assets more attractive compared to Japan’s negative-yielding bonds, contributing to the bullish bias. 4. Safe Haven Demand Fading Another factor favoring USDJPY bullishness today is the reduction in safe-haven demand for the yen. Global markets have seen reduced volatility, with no immediate geopolitical tensions or economic shocks driving traders into the yen as a safe haven. Investors are, therefore, more comfortable seeking higher returns in USD assets, adding upward pressure on the USDJPY pair. 5. US Economic Data Releases Traders will also be closely watching today’s US economic data, including durable goods orders and the weekly initial jobless claims. Positive results in these data sets could provide further impetus for USD strength, reinforcing the bullish bias in USDJPY. On the Japanese side, the absence of significant economic releases today leaves the yen vulnerable to broader market forces. Technical Analysis Supporting Bullish Sentiment From a technical perspective, USDJPY is currently trading above key support levels, maintaining upward momentum. The pair is hovering near the psychological level of 150.00, and a breakout above this could further fuel bullish momentum. The RSI (Relative Strength Index) on the 4-hour chart is still in bullish territory, indicating buying pressure. Moreover, moving averages on both daily and 4-hour timeframes are supporting the bullish outlook for the day. Conclusion In summary, the USDJPY pair is showing a slight bullish bias as of 26/09/2024, driven primarily by strong US dollar fundamentals, higher Treasury yields, and continued divergence in monetary policies between the US and Japan. Traders should keep an eye on US economic data today, as positive results could propel the pair further upward. For forex traders, positioning for bullish moves in USDJPY could offer opportunities, with key resistance levels coming into focus. --- Key SEO Keywords for Ranking: USDJPY forecast, USDJPY bullish bias, USDJPY analysis 26/09/2024, US dollar vs Japanese yen, forex trading USDJPY, FOMC impact on USDJPY, US Treasury yields and USDJPY, trading USDJPY on 26/09/2024, BoJ monetary policy and USDJPY, USDJPY technical analysis today.
Long
by PERFECT_MFG
UsdJpy could return to 150In mid-September, USD/JPY dropped below the 141.80 technical support level and even briefly fell under 140. However, this bearish move was short-lived and ultimately proved to be a false breakout. The pair quickly recovered, and despite some signs of a potential continuation of the downtrend from the trend line on Monday and Tuesday, yesterday's session was marked by a strong bullish engulfing candle that broke above the falling trend line. At this point, the path for further gains seems clear, with 147 and possibly 150 as upside targets for the bulls. In conclusion, as long as technical support holds, I am looking to buy on dips.
Long
by Mihai_Iacob
UJ update 9-25 AM - is the downside OVER on the weekly? Targets and updates! Weekly down to hourly. We are in a rotation between the previously marked important regions - the "PINK" wkly region has continued to provide insight and the 1H gap as noted has held price as we rotate between these regions. What to look for as bullish signs we are heading up and where are those targets above? Is the downside RULED OUT?.. well, there is a note worth making here IMO.. see the video for all the areas and explanation.. Happy Trading -- Doc!
Long
by docholliday
USDJPY Analysis for the Week of 24th September 2024: 150.000 !!The USDJPY pair has been a subject of interest in the forex market as it approaches a critical psychological level of 150.000. Traders are speculating whether the pair could reach this target given the current fundamental and technical landscape. In this article, we will analyze the potential for a slightly bullish bias for USDJPY this week, supported by key market drivers and macroeconomic factors. Fundamental Drivers Supporting a Bullish Bias: 1. Federal Reserve's Hawkish Stance on Monetary Policy: The Federal Reserve’s hawkish tone in recent weeks, reinforced by the latest Federal Open Market Committee (FOMC) meeting, suggests that further interest rate hikes are on the table. This has led to a strengthening of the U.S. dollar against major currencies, including the Japanese yen. With inflationary pressures still evident in the U.S. economy, the market is pricing in another rate hike before the end of the year. Higher interest rates increase the yield on U.S. assets, making them more attractive to global investors, which directly supports the USDJPY. 2. Bank of Japan's Ultra-loose Monetary Policy: In contrast, the Bank of Japan (BoJ) continues to maintain an ultra-loose monetary policy stance, keeping its interest rates in negative territory. BoJ Governor Kazuo Ueda has reiterated that the bank will remain accommodative until inflation sustainably reaches its 2% target, which still seems distant. This divergence between U.S. and Japanese monetary policies is a major driver of the USDJPY bullish momentum, and it is expected to continue fueling the pair’s rise toward the 150.000 level. 3. Rising U.S. Treasury Yields: U.S. Treasury yields have been rising steadily, with the 10-year yield nearing the 4.5% mark, its highest level in years. This surge is indicative of market expectations for prolonged high interest rates in the U.S., which adds further upward pressure on the dollar. Historically, higher U.S. Treasury yields have a direct correlation with USDJPY strength as global investors seek higher returns on their investments. 4. Geopolitical Uncertainty: Geopolitical tensions in Eastern Europe and the Middle East are contributing to safe-haven flows into the U.S. dollar, adding to its bullish momentum. While the yen is also considered a safe-haven currency, the growing demand for the dollar due to the U.S. economy’s relative strength and higher yields is tipping the balance in favor of USDJPY bulls. 5. Japanese Intervention Risks: As the USDJPY approaches the 150.000 level, market participants are wary of potential intervention by Japanese authorities to stem yen depreciation. However, recent remarks from Japanese officials suggest that intervention is not imminent unless volatility becomes disorderly. Until intervention threats materialize, the path of least resistance for USDJPY appears to be upward. Technical Analysis: On the technical front, USDJPY has been trading in a well-defined uptrend, with higher highs and higher lows forming on the daily chart. The pair is currently testing resistance near the 149.50-149.80 zone, with 150.000 acting as the next psychological target. A sustained break above 150.000 could pave the way for further gains, with potential resistance around 151.50 and 152.00. Momentum indicators, such as the Relative Strength Index (RSI), are approaching overbought territory, suggesting that while the bullish trend is strong, there may be some short-term consolidation before a decisive move beyond 150.000. Nonetheless, dips are likely to be viewed as buying opportunities, with strong support seen around 148.50. Conclusion: Given the current fundamental and technical landscape, USDJPY is poised to maintain a slightly bullish bias this week. The combination of a hawkish Federal Reserve, a dovish Bank of Japan, rising U.S. Treasury yields, and geopolitical uncertainty supports further upside for the pair. While intervention risks may temper gains, a move toward and possibly beyond the 150.000 level seems achievable in the near term. SEO Keywords: USDJPY analysis USDJPY forecast USDJPY bullish bias USDJPY 150.000 target U.S. dollar strength Federal Reserve interest rates Bank of Japan policy USDJPY technical analysis USDJPY fundamental drivers USDJPY September 2024 analysis
Long
by PERFECT_MFG