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Usdjpyforecast

More downside for USDJPY but limitedPrice continues to trade in a range this week. We think that will continue into the rest of the year. The bearish engulfing candle is formed on the 4hr and more downside will come at the start of the week but the downside is capped by the 200MA. BEAR CASE Price dumps straight away from these levels. Our target is between 122 and 122.5 BULL CASE Price consolidates upwards before the bear case is fulfilled. If this happens, it should be capped by the top of the channel at around 114.
Short
by IkanBilisCapital
USDJPY | Perspective for the new weekThe US dollar appears to have regained bullish traction as we witnessed a bounce back and forth before the price finally broke out of the Key level @ Y130.800 to reveal buyers strength at this juncture in the market. As we all have noticed that the Yen is being sold off against almost every major pair in recent time, and following Higher US bond yields and hawkish Fed expectations the scenario painted here is not a different one at the moment. The present market structure could probably explain what is going on with the Japanese yen as I look forward to a buying opportunity on this one in the coming week. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline Observation: I. Since mid-September 2021, the USD recorded a 5.05% growth over the Yen to set the tone for a Bullish momentum in the long term. ii. Despite citing a reversal pattern after hitting a peak at Y114.700 in mid-October 2021; Sellers have been finding it difficult to push the price below Y113.400. iii. Bearish Trendline: A visual representation of resistance line drawn over pivot highs reveals the prevailing direction of price and speed of price in the last couple of weeks. iv. However, the Y113.400 Level has kept price "supported" in the last couple of weeks to suggest a decline in Bearish momentum. v. In this regard, it is obvious to state here that buyers have continued to pick prices up from Y113.400 hereby making this zone a significant demand level in the meantime. vi. Following a Breakout of Key level @ Y113.800 during last week trading session, I shall anticipate a Breakout of Bearish Trendline for signal confirming a rally in the coming week(s). vii. Even as above Key level remain a yardstick for taking a long position, I have identified a "New Demand level" on the chart for trading opportunities should the price plunge... Trade consciously!😊 NB: Considering the reversal pattern identified after hitting Y114.700, It is worthy to state here that a significant Breakdown of Y113.400 should render the narrative invalid hereby welcoming an opportunity to short the pair temporarily (correction phase) at a retest of the Demand zone broken. Trading plan: BUY confirmation with a minimum potential profit of 100 pips. Risk/Reward : 1:4 Potential Duration: 4 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. 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
3
Do not go long! Correction MUST happen before upside for USDJPYThis dollar yen is largely range bound this week. The following week could see more upside but we have a strong bias to the downside before sustained bullish price action can happen. BEAR CASE Structurally on the 4hr, price looks like it's ready to break out to the upside and it probably will break the top but the move should be fairly capped because the weekly shows that we need a deeper correction before we can see more upside. BULL CASE It is possible that price moves to break ATH but we think the move will be capped. PS: We will not long this thing, looking for shorts only.
Short
by IkanBilisCapital
USD JPY MAY GO LONG. (23rd November 2020).Disclaimer:- Educational Analysis says USDJPY may go long According to my technicals. This is not an entry signal. I have no concern with your profit and loss from this analysis. Why Long? Because the 4 hr trendline(backline) is been respected twice and may test third time before going long or 15 min Consolidation of (Red Line) will break and go long. There are buyers waiting at that buy stop order value which may skyrocket this pair. For Additional Confirmation on this trade, You can wait for consolidation to break and wait for price action pattern may be morning star or two green candles or at least bullish engulfing for the price to go long.
Long
by VishalBudhrani