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Usdjpyforecast

USDJPY | New perspectiveSince the beginning of the month, price action has continued to respect the bullish trend line identified in the 4H timeframe and we are hoping to catch one last bullish move if it finally happens. A significant breakout of key levels during the course of yesterday's trading session could probably be a signal for a trend continuation in the nearest future as long as the price does not break down the bullish trendline. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
2
LONG USDJPYLONG USDJPY at 122.40 TP: 124.90 SL: 121.25 USDJPY has pushed through a nice tech support lvl of 122.40 and I have therefore bought the break. The fed will also outpace the BOJ in terms of rate hikes this year therefore leading to my view of USDJPY between 125-130 level. BOJ have signalled that they would get involved and stop the depreciation of the Yen at some point, however I only forecast that lvl to be around 130. So there is still room to rally. Good luck!
Long
by WhosPipsAreTheseAnyway
3
USDJPY SHORTS 📉📉📉📉 Expecting bearish price action on UJ as price takes out the buy side liquidity on the M30 and right now it's making the bearish reversal move, price made a lot of bullish imbalances that has to be filled those imbalances should act as a magnet for the price 123.000 is my target where bullish ordeblock and imbalance will be mitigated. JPYBASKET is also very strong and i expect it to rise meaning XXX JPY pairs should go down. What do you think ? Comment below..
Short
by AnonimFXRO
3
USDJPY LONGS ACTIVE 📉📉📉📉 Expecting bullish price action on USDJPY as we are in a bullish market strucutre from a HTF premise W1/D1. For a H1 long entry i will wait for the price to make a retracement back into 121.730 bullish orderbloc area on the h4 filling on it's way the bullish imbalances aka price inefficiencies. We have a bullish BOS on the H1 that confirms the shift in the strucutre from bearish to bullish The retail heard is SHORT on this pair and this could add another confluence to go LONG - contrarian approach. What do you think ? Where we go next ?
Long
by AnonimFXRO
USDJPY - FURTHER JPY WILL STRONG OR NOT ? WHAT'S GOING ON UJ? ⛔️ ISM MANUFACTURING PMI and US LABOR DATA are due to be released today for the US dollar. These are the most important ECONOMIC INDICATORS and these are the HIGH VOLATILIE INDICATORS. This data is very important for USDJPY today. Also, despite the high impact news for JPY being lost this week, the Japanese YEN is following the market sentiment. ⛔️ JPY FEATURE is currently on the rise. The main reason for this is that the MARKET SENTIMENT is becoming RISK OFF. JPY MARKET Now we see the nature of CORRECTION. JPY FEATURE stands at 0.0081 LEVEL. According to the JPY ECONOMIC PROJECTION, JPY can be WEAK in the future. But if the MARKETS RISK OFF continues, the USDJPY price may fall further. USDJPY stays on DYNAMIC LEVELS. ⛔️ Currently the OVERALL MARKET is RISK ON. Also the STOKES are turning a bit GREEN. VIX is getting a bit DOWN. Also COMMODITIES still shows a DOWN SIDE BIAS. Currently there is a NEUTRAL BIAS on the market side. ⛔️ USDJPY PRICE can be REJECT from 124.180 LEVEL. For VOLATILITY UP, and JPY FEATURE UP. The NFP DATA to be released today is very important and can have a huge impact on the USDJPY. ⛔️ Before the USDJPY PRICE goes to 118.388 LEVEL maybe a RETRACEMENT will come to 124.180 LEVEL. Then the USDJPY price can come down by breaking the TREND LINE. It is very important if the markets are to be RISK OFF.
by benny_marshall
Will the yen hit 150 against the greenback?The Japanese yen fell to a seven-year low of 125 against the US dollar on Monday as the Bank of Japan continued easing its monetary policy further widening the gap with the US Federal Reserve’s hawkish tone. But instead of seeing it as a threat to the Japanese economy, the BOJ reiterated that a weaker yen would have positive effects on pushing Japan’s GDP higher. BOJ’s divergence from Fed The US central bank recently raised interest rates for the first time since 2018 and signalled more rate hikes in the coming months to tame rising inflation. The US consumer inflation rate skyrocketed to a four-year high of 7.9% in February, prompting the Fed to take a more hawkish stance despite the lingering COVID-19 pandemic and geopolitical uncertainties. Conversely, the BOJ continued to loosen its monetary policy, reiterating that it would maintain interest rates at ultra-low levels to support Japan’s economic recovery and as inflation stays below its 2% target. The central bank also offered to purchase an unlimited amount of government bonds from Monday through Thursday this week at 0.25%. The offer is for debts with maturities of more than five years and up to 10 years. The move is one of the BOJ’s attempts to contain rising bond yields despite US Treasury yields reaching new multi-year highs. Adding pressure to the yen The measure further weighed on the yen on Monday, with economists from ING Bank expecting upside risks to prevail beyond 125. They said "130 is well within reach in the near term unless the bond environment improves.” A depreciation in the Japanese yen would drive up the costs of imports, ultimately hurting households as it would increase the costs of imported goods and other goods for consumption. It also pushed Japan’s core inflation to a two-year high of 0.8% in March, quicker than market forecasts. Preference for a weaker currency While many economies beef up efforts to boost the value of their currencies, Japan has been aiming to devalue its currency to gain a competitive advantage in foreign trade. A weak yen will make Japan-made goods more competitive overseas and increase profits that Japanese companies make in foreign markets. It would also lift services exports and increase net income receipts from abroad when converted into yen. Back in January, the BOJ estimated that a 10% drop in the yen would boost Japan’s gross domestic product by about 1%. In the final months of 2021, Japan’s GDP rose 4.6% year over year, lower than its previous forecast for a 5.4% rise. Fitch Ratings expects Japan’s inflation at 1.8% this year on the back of higher energy prices and yen depreciation. Preventing another 1998 yen volatility As the yen continues to fall against the greenback, the markets are closely watching for a recurrence of a wild rebound that occurred in the USDJPY in 1998 at the height of the Asian financial crisis. At the time, the US dollar fell by almost 15% versus the yen from its previous peak. That slump was preceded by a three-year yen depreciation as Japanese authorities believed the yen was overvalued. Will the yen hit 150 against the greenback? The question of whether the yen will reach 150 versus the US dollar is more of a when as the Fed maintains its hawkish stance and as the BOJ is poised to keep its loose monetary policy setting in the medium term. This would further widen the gap between their policies, sending the yen lower as Japan continues to book current account deficits due to a jump in oil import prices.
by BlackBull_Markets
USD/JPY. The retracement is strongly needed.The USD/JPY has shown impressive gains since March last year. This led to the fact, that on M15-D charts, the pair became very overbought. Long term, we expect the pair will refresh 2015 high of around 126,000 over the next few years. However, the current picture on the H1-H4 charts, supported by bearish divergences, requires a retracement from the local March highs. The correction target for the next couple of weeks - 116,400 is clearly visible on the chart and is confirmed by the Fibonacci level. The configuration of the price movement and indicators on daily chart suggests that the growth of 04-16/03 is the 5th wave of the upward Elliott cycle. If it so, then within the daily chart, we can expect a downward three-waves movement ABC to the lows of 112,500-600 on 30/11-03/12/2021 of the 4th wave (as we see it). Considering the M15 chart, we do not exclude a refresh of the high 119.120 from 16.03. In this case, the picture for shorts will get stronger. How to trade. Open short in USD/JPY with the target of 116,400. If the high of March 16.03 will be refreshed, open additional shorts or strong sell in short.
Short
by ForbesRatingN1
5
USD/JPY is waiting for the big correction. Get, set & ready USD/JPY has been rising since January 2021. It becomes unstoppable. As all beginnings have an end, no matter how high USD/JPY rises, it will wear out very soon. But firstly, we have to understand why it is rising. Why is the Japanese Yen weak against all currencies despite being a safe-haven asset. The Bank of Japan itself acts as the mastermind behind the weakening of the Japanese yen. I have been trading since 2007. I saw from the beginning that the Bank of Japan would weaken the Japanese Yen by intervening whenever they got a chance. Since Japan is an export-dependent country, the weakening Japanese yen is good for the Japanese economy, At list Bank of Japan thinks. There are several other reasons why the Japanese yen has been weak for more than a year now. At the same time, the Bank of Japan wants a weaker yen. On the other hand, in this time of inflationary pressure, where almost all banks, starting with the Fed, are raising rates, the Bank of Japan is announcing that it will not raise rates. By doing so, those who will invest in Japanese yen are also falling behind due to not getting an overnight swap. After World War II, Japan retreated a lot militarily, but in recent times, due to Chinese domination, Japan seems to be regaining military power. This is the main reason why investors are ignoring the Japanese yen as a safe-haven asset. Switzerland is much more neutral. Due to this the Swiss franc is still getting the benefit of safe haven. Japan has also been neutral for a long time. But in recent times, Japan has been trying to break out of its neutrality and create a ring of its own. For all these reasons, the Japanese Yen is not able to take advantage of this crisis even as a safe haven. However, if oil prices continue to rise, the Bank of Japan will not be able to keep the yen weak even if it wants to. If the yen is too weak to raise energy prices, Japanese companies will have to pay a lot more to buy oil. In doing so, the Japanese economy will suffer from the disadvantages of the weak yen, rather than the advantages it had. USD/JPY is only 400 pips away from its all-time high zone. I think it has now come to a level very close to dropping in the long run. Technical Analysis If USD/JPY’s weekly candle closes below the 122.50 price zone, there is a chance that USD/JPY might drop from the current level. On the other side, closing above 122.50 price zone may lead the USD/JPY 124 to 125.00. From my view, correction is a must on that level and hopefully 122.50.
Short
by Gold_Trading_Expert
8
USD/JPYThe USD/JPY made a second consecutive unusually strong weekly rise last week, closing near its high at its highest closing price seen in over 6 years. These are very bullish signs, with the Japanese Yen showing the greatest weakness of all major currencies putting this pair in focus right now. I made a good call last week seeing this pair as a buy. There are two reasons for bulls to be cautious here: firstly, although the Japanese Yen is clearly the weakest currency, the US Dollar is not showing short-term strength, so it may be better to trade Yen currency crosses long over the coming week, such as AUD/JPY as the Aussie is showing strong momentum. Secondly, this currency pair has reached an area of resistance stretching from about 119.15 to the big round number overhead at 120.00, which may slow or even halt its advance.
by SmoothJB
USDJPY ForecastThe market has given us new higher highs as anticipated, it’s breaking records. Now when we take a closer look we see that bears are looking to take over, the market provided us with a higher high, then a higher low and made another higher peak to break the previous one and made a retracement to our liquidity zone, now we have our fractal high as the 3-bar pattern with a beautiful shooting star. USDJPY now portrays 3 strong indications that influences the market to go bearish... we expect it to drop to our previous resistance which is now our potential support at price 116.000... we just have to see how our candlestick will close for confirmation...
by tokelohomi