USDJPY → Aiming for 176.500!? Let's Dig In.USD/JPY broke ascending triangle pattern at the 152.00 Resistance level per my last analysis. Since then, we have seen the completion of the measured move to 154.500 followed by a third leg up to 158.350! Is this the moment to long? Or are we in for a hard sell-off?
Previous Analysis:
How do we trade this? 🤔
I would not long the market open. After a strong Friday push, traders are far more likely to take profits, likely pulling the price down to the 156.000-157.000 range with the possibility of a hard wick to the 153.000-154.000 area. That being said, we should remain long-biased and buy these pullbacks, as USD/JPY has been on this bull trend since January 2021.
This trade pertains to the Weekly timeframe. I would drill into the 4HR and Daily to find more precise entries. It's reasonable to assume the pullback at this level, so we should look for a bounce at one of the key areas mentioned and enter a long position. On the Weekly, aim for a first take profit of 169.500 where half the position is taken off the table, then move the stop loss up to the entry price. The second take profit should be taken just before the 1978 key level of 176.900.
💡 Trade Idea 💡
Long Entry: 156.700
🟥 Stop Loss: 150.300
✅ Take Profit #1: 169.500
✅ Take Profit #2: 175.900
⚖️ Risk/Reward Ratio: 1:3
🔑 Key Takeaways 🔑
1. Breakout of key 152.000 price level
2. Strong bullish price action completing the measured move to 154.500
3. Third leg to 158.350 complete, wait for a pullback
4. Enter a 1:3 Risk/Reward trade taking half profits at 1:2 Risk/Reward.
5. RSI at 74.00 and above the Moving Average, supports pullback.
💰 Trading Tip 💰
The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and Follow to learn more about:
1. Reading Price Action
2. Chart Analysis
3. Trade Management
4. Trading Psychology
Usdjpylong
USDJPY Cup & Handle Pattern Indicates Bullish Breakout PotentialInstrument: USD/JPY
Pattern Formation: Cup and Handle
Current Situation: Near Key Resistance Level
Analysis:
The USD/JPY currency pair has been exhibiting a compelling technical setup, characterized by the formation of a Cup and Handle pattern near a crucial resistance level. This pattern suggests a potential bullish continuation in the prevailing uptrend.
The Cup and Handle pattern typically signifies a period of consolidation followed by a breakout to the upside. As such, we anticipate a bullish breakout in the near term, indicating favorable trading opportunities for market participants.
Trade Recommendation:
- Entry Point: Initiate long positions upon a re-test of the price near 151.900, ideally confirming the bullish momentum.
- Stop Loss: Place a stop-loss order at 150.180 to mitigate potential downside risk and preserve capital in the event of adverse price movements.
- Take Profit Targets:
- TP-1: Set the first take-profit target at 153.650, reflecting a conservative projection of the upward price movement.
- TP-2: Aim for a secondary take-profit level at 155.400 to capitalize on extended bullish momentum, considering the potential for further upside.
Risk Management:
It is crucial to adhere to proper risk management practices, including position sizing and stop-loss placement, to safeguard against unexpected market fluctuations. Traders should also remain vigilant and adjust their positions accordingly based on evolving market conditions.
Conclusion:
In summary, the technical analysis suggests a bullish outlook for the USD/JPY currency pair, with the formation of a Cup and Handle pattern near a key resistance level. Traders may consider implementing long positions, with defined entry, stop-loss, and take-profit levels, to capitalize on the anticipated upward breakout.
Note:
This analysis is based solely on technical factors and does not account for fundamental or external market influences. Traders should conduct their own research and exercise discretion before entering any trades.
Hedge Funds Bet on Yen Shorts as BOJ Reiterates InterventionHedge funds are betting big against the Japanese yen, driving short positions to their highest level since April 2022. This aggressive stance comes despite warnings from the Bank of Japan (BOJ) that it will intervene in the currency market again to defend the yen if necessary.
The data, compiled by the Commodity Futures Trading Commission (CFTC), shows a surge in net-short yen positions held by leveraged funds. This indicates a strong belief that the yen will continue to weaken. The yen has been under pressure for months due to a widening gap between Japanese and U.S. interest rates.
Why the Yen Short Bets?
Several factors are contributing to the bearish sentiment on the yen:
• Divergent Monetary Policy: The BOJ is maintaining its ultra-loose monetary policy, keeping interest rates near zero, while the U.S. Federal Reserve is aggressively raising rates to combat inflation. This interest rate differential makes yen-denominated assets less attractive to investors, weakening the currency.
• Geopolitical Tensions: The ongoing war in Ukraine and heightened global uncertainty are driving investors towards safe-haven currencies like the U.S. dollar, further pressuring the yen.
• Intervention Concerns: The BOJ's previous intervention in the currency market in September 2022 to weaken the dollar and strengthen the yen proved to be temporary. The market's perception is that the BOJ may not be able to sustain continued intervention efforts, leading to renewed weakness in the yen.
Bank of Japan's Warning
The BOJ has reiterated its commitment to defending the yen and warned of further intervention if deemed necessary. Governor Haruhiko Kuroda has emphasized the bank's resolve to maintain its current monetary policy stance, even as the yen weakens. However, analysts remain skeptical of the BOJ's ability to influence long-term currency trends, especially given the strong global forces pushing the yen lower.
Potential Impacts
The continued decline of the yen could have several consequences:
• Imported Inflation: A weaker yen makes imports more expensive, potentially fueling inflation in Japan.
• Corporate Profits: Export-oriented Japanese companies could benefit from a weaker yen as their products become more competitive globally.
• Investor Confidence: Continued weakness in the yen could erode investor confidence in the Japanese economy.
Looking Ahead
The future path of the yen is uncertain. The BOJ's resolve and ability to defend the currency will be closely watched. The direction of U.S. monetary policy and global economic conditions will also play a key role.
With substantial short bets placed by hedge funds, the yen remains vulnerable to further depreciation. The BOJ's warnings of intervention add another layer of complexity to the situation. The coming months will be crucial in determining the fate of the yen and its impact on the Japanese economy.
usdjpy long signalUSD/JPY is the forex ticker that shows the value of the US Dollar against the Japanese Yen. It tells traders how many Yen are needed to buy a US Dollar. The Dollar-Yen is one of the most traded forex pairs - second only to EUR/USD - and is a benchmark for Asian economic health and even the global economy. View the live Dollar-Yen rate with the USD/JPY chart and improve your technical and fundamental analysis with the latest USD/JPY forecast, news and analysis.
USDJPY: 1200+ Swing Buy Idea in Making | Share your views?Due to yen bearish dominance and usd strong bullish momentum USDJPY has reached a record high where it is harder to pin point the bearish reversal. Though we can identify the next swing buying opportunity and that what we did, we have identified possible bullish rebound point.
Good luck and trade safe.
USDJPY BUYHello, according to my analysis of the USDJpy pair, there is a good opportunity to buy. The pair appears to be in a positive state with the break of the downward trend, breaking a very strong double-botton pattern, and breaking the resistance at the level of 141,900. All of these factors confirm a strong entry for buyers. Good luck to everyone.
USDJPY - Expect retracement ✅Hello traders!
‼️ This is my perspective on USDJPY.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I look only for long position. For now I expect a retracement price to fill the imbalance lower and then to reject from bullish order block.
Like, comment and subscribe to be in touch with my content!
USD/JPY Daily chart! Ascending triangle formationHello traders, in the USD/JPY daily chart, we can see the formation of a
massive ascending triangle. The upper end of the triangle is at 152 level,
which if broken could lead to a massive leg up.
At this point, I would recommend traders to avoid placing short entries.
In fact, the plan would be to see how price behaves at the 152 level.
If there is a breakout, we would need to wait for a retest and then buy.
USDJPY → At 152.000 Resistance! Will it break to 160.000?USD/JPY has been bullish since January 2021 and is currently in an ascending triangle pattern, indicating a potential push through the 152.000 resistance level. Is this the moment to long?
How do we trade this? 🤔
We need to wait for a confirmed breakout of 152.000. The probability of a breakout is high, but we need the confirmation of support at 152.000 to justify a long entry. Once we see a strong bull candle off of support, a 1:2 Risk/Reward on the Weekly timeframe is a straightforward trade to take. The RSI is around 60.00 and above the Moving Average, providing enough headroom for a move to the upside.
It's also reasonable to take a long trade on the Daily timeframe which will allow you to get an earlier entry and a better Risk/Reward, but the Weekly timeframe provides us with a clearer picture of the situation. When Take Profit #1 is hit, half of the position should be sold, the stop loss should be moved to the entry price, and the second half of the position should go to Take Profit #2. This locks in profits after the first take profit which is at 1:1 Risk/Reward.
💡 Trade Idea 💡
Long Entry: 153.570
🟥 Stop Loss: 150.900
✅ Take Profit #1: $156.400
✅ Take Profit #2: $158.900
⚖️ Risk/Reward Ratio: 1:2
🔑 Key Takeaways 🔑
1. Ascending Triangle at 152.000 Resistance level, a bullish pattern.
2. 30EMA providing key support above the ascending support band.
3. Wait for a breakout of 152.000 resistance and confirmation of support to long
4. Enter a 1:2 Risk/Reward trade taking half profits at 1:1 Risk/Reward.
5. RSI at 60.00 and above the Moving Average, supports long bias.
💰 Trading Tip 💰
The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and Follow to learn more about:
1. Reading Price Action
2. Chart Analysis
3. Trade Management
4. Trading Psychology
USDJPY: USD/JPY returns to 152 regardless of intervention threat
The Japanese yen weakened barely on Tuesday, with USDJPY now lower back toward 152 - its maximum stage in view that 1990.
The yen`s weak spot comes whilst Japanese officers time and again warn that they'll reply correctly to hypothesis in opposition to the yen. However, promoting momentum piled at the yen, specially withinside the face of better longer-dated US hobby costs, that have been the principle weight at the Japanese foreign money for almost years.
The yen additionally obtained little assist from the Bank of Japan's first hobby fee hike in 17 years, because the valuable financial institution presented dovish alerts on destiny coverage decisions. .
Dollar steadies on CPI information, recognition on Fed assembly minutes
The greenback index and greenback index futures had been little modified in Asian buying and selling after posting a few in a single day losses. But buyers are nevertheless in large part biased toward the dollar given the numerous alerts on US hobby costs this week.
Consumer Price Index inflation information for March is due out on Wednesday and is extensively anticipated to expose inflation final properly above the Fed's 2% annual target, leaving the valuable financial institution with little Motivation to begin reducing hobby costs soon.
Minutes from the Fed's March assembly can also be launched on Wednesday and are available amid developing doubts approximately whether or not the valuable financial institution will begin reducing hobby costs in June.
A string of Fed officers warned that difficult inflation could maintain the Fed from reducing hobby costs early this year.
Yen Bear Onslaught Tests Resolve at 152, Intervention LoomsThe Japanese Yen finds itself in a precarious position, facing the strongest selling pressure in 17 years. Net yen shorts, a measure of bearish bets, have skyrocketed to their highest level since January 2007 . This relentless shorting comes as the Yen precariously approaches a key psychological barrier: 152 Yen per US Dollar.
A Perfect Storm for the Yen
Several factors are fueling the Yen's decline:
• Central Bank Tug-of-War: The Bank of Japan (BOJ) stubbornly clings to its ultra-loose monetary policy, keeping interest rates near zero. This starkly contrasts with the US Federal Reserve, which is aggressively hiking rates to combat inflation. This disparity makes the US Dollar a far more attractive investment for yield-hungry traders.
• Double-Edged Sword: A weaker Yen benefits Japanese exporters by making their products cheaper overseas. However, the boon for exporters translates to pain for consumers, as imports become significantly more expensive.
Intervention: A Looming Wildcard
The Japanese government has a well-established history of intervening in the currency market to support the Yen. With the currency teetering near 152, a level considered a potential trigger for intervention, all eyes are on the BOJ's next move. Their recent warnings about intervention haven't deterred the bears, adding another layer of intrigue.
Will the Bears Breach the 152 Fortress?
The record-high short positions suggest investors are firmly convinced the Yen will weaken further. A break below 152 could trigger a domino effect of selling, accelerating the Yen's decline. However, a few factors could offer the Yen some respite:
• Intervention by the BOJ: The government might decide to step in and buy Yen to stabilize the currency, especially if the decline becomes disorderly.
• Profit-taking: As the Yen weakens, some short-sellers may choose to lock in their profits, potentially alleviating some downward pressure.
Trading the Yen: A Delicate Dance
The Yen's future trajectory remains shrouded in uncertainty. Here's how traders can navigate this volatile market:
• Stay Glued to Geopolitical and Economic News: Monitor US interest rate decisions, BOJ policy announcements, and any signs of intervention by the Japanese government.
• Technical Analysis is Your Ally: Utilize TradingView's advanced charting tools to identify potential support and resistance levels for the Yen.
• Risk Management is Paramount: The Yen market is highly volatile. Employ stop-loss orders to mitigate potential losses.
Disclaimer
This article is for informational purposes only and should not be considered financial advice. Please consult with a qualified financial professional before making any investment decisions.
USD/JPY will break 152 soon(4/3/2024)USD/JPY is consolidating under the resistance zone. it's alarming that the 152 zones will be broken soon.
It has been 3 times when the price reached the 152 zone and every time we see the reaction becomes smaller and weaker.
This is not a buy signal because maybe BOJ is attempting to manipulate the market.
Our technical view has been shown in the chart.
If you like it then Support us by Like, Following, and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
USDJPY SELL | Day Trading AnalysisHello Traders, here is the full analysis.
I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity USDJPY
I still did my best and this is the most likely count for me at the moment.
Support the idea with like and follow my profile TO SEE MORE.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Patience is the If You Have Any Question, Feel Free To Ask 🤗
Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
BUY TRADE SETUP ON USDJPYHey Traders,
Check out this technical analysis on USDJPY; it appears to be undergoing a small range pullback, potentially indicating a bullish momentum continuation.
However, I would recommend waiting for a proper retest of the broken key level before considering a buy-trade entry.
Alternatively, there may be an opportunity for a sell trade if the market breaches the evident support area.
Keep a close eye on this.
USDJPY I Technical and fundamental overviewWelcome back! Let me know your thoughts in the comments!
** USDJPY Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
USDJPYIn the 4-hour timeframe, USD/JPY appears to be in a bullish trend, adhering to an ascending channel pattern and displaying an ABC correction. The current price action suggests a bullish pennant formation following a breakout above a resistance level. Traders may anticipate a short-term bullish movement towards the ascending channel's resistance trendline, completing the C point, before considering potential long-term bearish positions based on subsequent price action.
Long USDJPY as Bank of Japan Raises Rates!The hedge fund industry's short weakness on the yen is creating a fantastic opportunity for us to long USDJPY! As the Bank of Japan prepares to raise rates, now is the perfect time to capitalize on this trend and potentially make some significant profits.
The recent weakness in hedge fund shorts on the yen has created a favorable environment for us to take advantage of. With the Bank of Japan signaling a potential rate hike shortly, the USDJPY pair is poised for a strong upward movement. This is a golden opportunity for us to get in on the action and potentially ride the wave of a bullish trend.
I urge you all to consider taking a long position on USDJPY and seize this opportunity to potentially profit from the upcoming rate hike. Don't miss out on this chance to make some serious gains in the forex market!
Let's make the most of this exciting opportunity and maximize our potential profits together. Get ready to long USDJPY and ride the wave of success as the Bank of Japan raises rates!
www.hedgeweek.com
Decoding USD/JPY Future in a Changing Economic Landscape
Multi-Timeframe Technical Analysis for USD/JPY
1. Monthly Time Frame:
- Key Observation: Noticeable rejection of the USD/JPY price at a significant support level, indicating potential bullish sentiment or a reversal point.
- Additional Note: High liquidity observed at price highs, marked by two equal highs, which could signify resistance zones.
2. Weekly Time Frame:
- Key Observation: Transition in market structure from bearish to bullish, indicating a potential longer-term upward trend for USD/JPY.
3. Daily Time Frame:
- Key Observation: A shift in market sentiment is evident, aligning with the bullish outlook observed in the weekly timeframe.
Fundamental Analysis: Federal Reserve Policies and Economic Indicators
1. Federal Reserve's Stance:
- Policy Outlook: Continuation of a restrictive monetary policy for the foreseeable future, with the possibility of rate peaks being reached.
- Inflation Control: Strong emphasis on reducing inflation sustainably before policy easing.
2. Economic Indicators:
- Optimism on Inflation: Growing confidence in managing inflation, with potential rate cuts envisioned in 2024, though the exact timing remains uncertain.
3. Market Reaction:
- Impact on USD/JPY: The Federal Reserve's stance typically has a direct impact on USD/JPY. A more restrictive policy tends to strengthen the USD against the JPY, while a more dovish stance or rate cuts could weaken it.
4. Future Projections:
- Interest Rate Trajectory: Anticipation of three rate cuts in 2024, suggesting a potential future weakening of the USD against the JPY.
- Economic Growth Forecast: Slow growth expected in 2024, which could influence currency strength dynamics.
5. USD/JPY Specifics:
- Japanese Economic Factors: Apart from U.S. economic indicators, USD/JPY traders should also consider Japan's economic health, monetary policy, and geopolitical factors influencing the yen.
Trading Implications for USD/JPY
- Short-Term Strategy: The bullish technical signals on higher timeframes suggest potential long positions in the short to medium term. However, be mindful of resistance levels highlighted by the liquidity at price highs.
- Long-Term Outlook: Fundamental analysis indicates potential weakening of the USD in 2024 due to anticipated rate cuts. Traders may look for signs of trend reversal or strengthening of the JPY for future positioning.
- Risk Management: Keep an eye on upcoming Federal Reserve meetings and announcements, U.S. economic data releases, and Japanese economic indicators. These can cause significant volatility in the USD/JPY pair.
Conclusion
For USD/JPY, the current technical analysis suggests a bullish trend in the near term, but fundamental factors indicate potential shifts in 2024. You should maintain a balanced approach, staying updated with economic developments and central bank policies in both the U.S. and Japan. As with any currency trading, risk management and continual reassessment of the market conditions are crucial.