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USDJPY: The Japanese Yen decreased because the market predicted The Japanese yen is the worst among Asian currencies through 2024, extending its decline from the previous year as traders grow more confident that the Bank of Japan will delay policy changes were extremely moderate. Reconstruction and stimulus measures following the devastating earthquake in central Japan are expected to offset any notion of BOJ policy tightening, at least in the near term. Such a scenario points to increased pressure on the yen, especially from the wide gap between domestic and international lending rates. Japan's interest rates have remained extremely low for nearly eight years. Weak data on inflation and weak wage growth also suggested less pressure on the BOJ to change its ultra-dovish course. Broader Asian currencies were trending lower, as doubts about an early Fed rate cut kept traders largely biased against the dollar.
Long
by Chart_MasterPro
Long Position on USDJPY-4HHello Traders ! This is the USDJPY Technical Viewpoint in The Long Term . After these significant changes since the beginning of the year, the JPY has lost 25% versus the USD YTD. We anticipate that this bullish trend will resume for a few more months after the market breaks above the 144.80 Resistance level, as shown in the chart. Risk Warning: Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Long
by aymanjemghili
1
USDJPY Shorts from 145.500 back down towards 142.000This week's strategy involves following the ongoing bearish trend in USDJPY. I plan to initiate sell positions around the newly formed 4-hour supply zone. To execute this, I'll wait for a redistribution pattern to unfold and a clear CHOCH signal before considering a sell. It's important to note that there's a possibility of price pushing higher to test the 14-hour or daily supply above. Considering that price has already reacted to a supply zone, it wouldn't be surprising if it continues lower towards the 15-hour demand zone. In such a scenario, I'll be on the lookout for a buying opportunity, but I'll wait for the Asian low to be breached within that zone, potentially in the form of a spring, before considering a buy. Confluences for USDJPY Sells are as follows: - 4hr or 14hr supply zone that has caused a break of structure to the downside. - Price is completed a retracement so we can expect a wyckoff distribution to play out. - Lots of major trend lines still left below on the high time frame that needs to get swept. - Price has been in a very bearish trend ever since it failed to take the all time highs. - The dollar is also looking bearish so I can expect more downside for this pair too. P.S. As I currently hold a strong bearish stance on USDJPY, I won't be surprised if the demand zone fails due to significant liquidity below it. However, at the moment, my primary focus is on potential sell opportunities, considering that price has recently completed a retracement. My strategy aligns with the prevailing bearish trend.
by Hassan_fx
1
💥 USD JPY bearish moving) 4H )Hello trader’s what do you think about usdjpy)? Usdjpy bearish moving retest rsl levels same Bak sell zone 138.570 The US dollar declined against its major trading partners early Friday, except for a gain versus the euro, ahead of the release of the New York Federal Reserve's Empire State survey for December, the first manufacturing reading for the month, at 8:30 am ET. November industrial production data are set to be released at 9:15 am ET, followed by S&P Global's flash estimates of manufacturing and services conditions for December at 9:45 am ET. With the Fed's pre-meeting "quiet period" now lifted, appearances by officials should pick up in the coming week before the holidays begin. A quick summary of foreign exchange activity heading into Friday: USDEUR fell to 1.0966 from 1.0992 at the Thursday US close but was above a 1.0928 level at the same time Thursday morning. The European Central Bank held its target rate steady Thursday, as expected, and said that rates will need to remain elevated "as long as is necessary," according to ECB President Christine Lagarde. There was no discussion of rate cuts at the meeting, Lagarde said. The next ECB meeting is scheduled for Jan. 25. The Eurozone manufacturing and services sectors continued to contract in December, a preliminary purchasing managers' index released earlier Friday showed. GBPUSD rose to 1.2774 from 1.2766 at the Thursday US close and 1.2664 at the same time Thursday morning. UK manufacturing PMI showed continued contraction in December, but the services reading moved further above the breakeven point to signal faster expansion, preliminary data released earlier Friday showed. The next Bank of England meeting is scheduled for Feb. 1 after the BoE maintained its target rate Thursday and said rates will need to remain elevated for some time. USDJPY fell to 141.6480 from 141.8862 at the Thursday US close but was above a level of 141.5921 at the same time Thursday morning. Preliminary Japanese manufacturing PMI for December showed further contraction while the services sector expanded at a faster rate than in the previous month, data released overnight showed. The next Bank of Japan policy meeting is scheduled for Dec. 18-19, with the statement released in US time Monday evening. USDCAD fell to 1.3381 from 1.3406 at the Thursday US close and 1.3448 at the same time Thursday morning. Canada housing starts data for November are scheduled for release at 8:15 am ET, followed by wholesale sales data for October at 8:30 am ET. The next Bank of Canada meeting is set for Jan. 24. BoC Governor Tiff Macklem is scheduled to speak at 12:40 pm ET.
Short
by SMC-Trading-Point
USDJPY Shorts from 142.500 down towards 140.000My bias for USDJPY is pro-trend, aiming for a bearish move within a nearby 10hr supply zone. Currently, I expect a bit more upside and a redistribution within my point of interest (POI). Upon confirmation of these factors and other confluences, I'm inclined to sell down towards the psychological level of 140.000. I am also anticipating a bullish reaction from the 7hr demand, which has caused a break of structure (BOS) to the upside, I recognise the importance of waiting for price to reach a discounted or premium area due to its current equilibrium state. However, considering the recent BOS to the downside, I anticipate a retracement to a supply zone for a potential sell-off. Confluences for USDJPY Sells are as follows: - price has broken structure to the downside and has left clean 10hr supply zone. - Price is currently in a retracement so we can expect a wyckoff distribution to play out. - Lots of major trendiness still left below on the high time frame that needs to get swept. - Price has been in a very bearish trend ever since it failed to take the all time highs. - The dollar is also looking bearish so I can expect more downside for this pair too. P.S. As this trade aligns with the prevailing trend, the selling proposition is currently highly favorable. While the Fibonacci range indicates that the 14hr supply is more likely, I foresee the possibility of the 10hr supply failing to react off the 14hr at a more premium level. HAPPY NEW YEARS TO ALL OF YOU AND HOPE THIS YEAR BRING EVERYONE PROFITABILITY AND CONSISTENCY. LETS CATCH THESE PIPS!
by Hassan_fx
1
USDJPY Shorts from 143.500 down towards 140.000Currently, with the recent reaction from the 22-hour demand zone, there's an expectation for a retracement towards a nearby supply to trade in line with the trend. At the current price, I'll wait for the small bullish reaction to lose steam in order for price to distribute. Once the Wyckoff distribution occurs on the lower time frame, accompanied by a CHOCH, I plan to initiate sells targeting the 140.00 mark, a zone associated with strong demand. However, I'm also mindful that the price might ascend further and react off a more premium supply above. Confluences for USDJPY Sells are as follows: - This bias aligns with the current bearish trend that has been perpetuated. - Lots of major trend lines, equal lows and asian lows below on the higher time frame. - There's a near by 14hr supply zone that looks promising and a better supply on the 10hr just above it. - For price to maintain its bearish trend it must react off a supply to trigger another sell off. - Bullish pressure is looking exhausted and we could see a wyckoff distribution play out soon. P.S. Regarding the overall market sentiment, it remains evidently bullish. However, with a strong emphasis on respecting the all-time high (ATH), I am steadfast in my belief that a long-term bearish trend is likely to emerge, given the significant liquidity present below. This is why selling positions are highly preferable and exhibit more favorable reactions. If you found this post insightful, drop a like & comment!
Short
by Hassan_fx
1
USDJPY Looking BearishIf you anticipate a bearish trend in USDJPY and decide to sell, it's crucial to ensure that your decision is in line with your overall trading strategy. Evaluate the risk-reward ratios carefully and establish suitable stop-loss levels to mitigate potential losses. When considering increasing your position size, exercise caution to effectively manage potential risks. Stay well-informed about market developments and be prepared to adapt your trading strategy as necessary in response to changing conditions. It's essential to remain vigilant and proactive in monitoring the market to make informed decisions and protect your investments.
Short
by HUMCRYPTOCLUB
USDJPY: Dollar fluctuates as views of interest rate cuts grow; TThe US dollar is experiencing volatility against most major currencies today, with market sentiment affected by predictions that the US Federal Reserve may start cutting interest rates. The Japanese yen remains an exception, maintaining its position against the dollar following the Bank of Japan's decision to continue its expansionary monetary policy. Federal Reserve officials tried to manage market expectations after a Federal Open Market Committee meeting last week, which hinted at the possibility of interest rate cuts in 2024. This outlook has led to a surge in financial markets, with current forecasts suggesting a 67.5% chance of a rate cut at the Fed's March meeting, based on the CME FedWatch tool. Senior financial markets analyst at Capital.com, Kyle Rodda, commented on the situation, saying that the Federal Reserve must now decide whether to match market expectations or counter them, potentially causing market instability. Atlanta Federal Reserve President Raphael Bostic on Tuesday reiterated his forecast for two interest rate cuts in the second half of the year, but emphasized that immediate action was not necessary. At the same time, Richmond Fed President Thomas Barkin noted that the central bank's ability to lower interest rates will depend on the trajectory of the economy. The dollar index, which compares the US dollar to a basket of other currencies, remained relatively unchanged at 102.20 after falling more than 0.3% earlier. Last week, the index hit a four-month low at 101.76. Rodda also mentioned that upcoming economic data will be important in determining the direction of the dollar, as it will indicate whether the expected interest rate cuts for next year are justified. Investors are now awaiting the release of the core personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure, which could shed light on whether inflation is slowing enough to justify easing. policy next year or not. In Japan, the yen traded lower at 143.78 yen against the dollar, having weakened after comments from Bank of Japan Governor Kazuo Ueda, which did not suggest a change was imminent from negative interest rates. According to National Australia Bank senior foreign exchange strategist Rodrigo Catril, expectations are now set for a policy change no sooner than April.
Short
by Chart_MasterPro
2
USDJPY: Goldman Sachs: Reduced 12-month USD/JPY forecast to 140 Goldman Sachs Data reported on December 18 that Goldman Sachs has revised its forecast for next year's exchange rate and expects the US dollar to weaken further. “The biggest revisions to our forecasts are on exchange-sensitive currencies like the Japanese yen,” strategists including Danny Suwanapruti and Michael Cahill wrote in a Dec. 15 report. , the Swedish krona and the Indonesian rupiah, these currencies will struggle under a 'keep interest rates higher for longer' regime. " Goldman Sachs forecasts USD/JPY three-month target at 145, six-month target at 142 and 12-month target at 140; previous forecasts for the same period were 155, 155 and 150 respectively.
Short
by Chart_MasterPro
USDJPY: Japan's ruling party proposes to reduce income taxReuters reported: The tax reform council of Japan's ruling Liberal Democratic Party has agreed to reduce income taxes to compensate households suffering from soaring prices and support a change in the deflationary mindset that has pervaded the country. past decades The move is also intended to encourage a healthy growth cycle driven by private sector demand, with tax policymakers increasing tax breaks for businesses planning to increase wages. The draft of tax breaks under the framework of tax reform in fiscal year 2024 will be finalized on Thursday
Short
by Chart_MasterPro
💡 USDJPY: Next predictionLast Friday, the yen experienced a decline, reversing the strong trend observed on Thursday. This shift in market dynamics was attributed to the transition of focus from speculations about the Bank of Japan's recent monetary policy to robust Japanese jobs data. On the other side of the Pacific, the US economy exceeded expectations by creating more job openings last month, prompting investors to scale back their expectations of a Federal Reserve interest rate cut in the coming year. Furthermore, the increase in US Treasury bonds and the strength of the US dollar are additional factors contributing to the yen's depreciation. Following the release of the US non-farm data, USD/JPY swiftly rebounded, with the MACD double line and bar chart forming a golden cross below the zero axis. Nevertheless, it is still trading below the 48-hour moving average, suggesting the possibility of a short-term pullback. -> Sell ​​strategy can be applied and stop loss is necessary.
Long
by Stone_Haven
USDJPY Shorts from 147.000 down to 140.000My breakdown for USDJPY this week involves sustaining its temporary bearish trend. Currently, the price has shown a bullish reaction at our identified Point of Interest (POI), resulting in a pullback to tap into a Daily supply zone above. Following this, our strategy involves anticipating a redistribution on lower time frames to facilitate selling opportunities, targeting the equal lows. Considering the impact of NFP Friday on our demand, we await the formation of a correction to prolong the downward trend. In case the price opts for breaching equal lows first, our plan involves waiting for entry at the 7-hour demand zone, presenting an opportunity to buy at a more favorable price. Confluences for USDJPY Sells are as follows: - Price retraced from a 2-day demand and now slowly approaching a daily level of supply zone. - Supply Zone is on the daily time frame that has also caused a Break of structure to the downside. - Lots of liquidity to the downside in the form of equal lows, and major trendlines. - Price needs to fill the imbalance as well which has been left from the supply zone. - The dollar is also expected to be bearish so this pair is also projected to move in a similar way. P.S. Since the price on the higher time frame couldn't surpass the all-time highs and experienced a significant sell-off, my expectation is that the price may continue its decline to target substantial liquidity below. Consequently, I am inclined to seek pro-trend trading opportunities to prolong this downward movement, aiming for the 140.000 mark.
Short
by Hassan_fx
1
#USDJPY: Still bull have the control! Dear traders, with usdjpy we expect price to rise continuously moving forward due to two main reason, firstly we think buyers presence in the market is significate and this was just a small short of retracement. Secondly, there are many majors news that will have huge impact on DXY moving forward. About entries, there are two areas of entries first is where price from the current trading price rise from this moment. Second, is where price can drop around 144-143 region and bounce from that point.
Long
by Setupsfx_
2