USDJPY (Week Buy)From the previous week, USD/JPY did sell as expected due to the top resistance zone within my screen shot. Also the USD red folder news on March 10th (Unemployment Rate) made it to sell tremendously to the support zone and exceeded my expectations. This week, im expecting a buy since we have CPI and PPI reports coming out, causing the USD to be stronger and be in a uptrend to the top resistance zone. Just my opinion, thoughts? have a good week everyone.
I left a link to the previous week.
Usdjpylong
The USD/JPY currency pair is expected to continue its upward..The USD/JPY currency pair is expected to continue its upward trend above 137.00 as the Bank of Japan maintains an ultra-loose monetary policy.
The USD/JPY currency pair is currently experiencing reduced volatility around 136.65, following a period of heightened volatility due to the Bank of Japan's (BoJ) decision to maintain an ultra-easy monetary policy. BoJ Governor Haruhiko Kuroda has implemented this policy in response to the lack of inflationary pressure caused by stagnant domestic demand and wages in the Japanese economy.
USDJPY showing strong upside from the big break of structure upCup and Handle formed on USDJPY after the major downtrend broke up.
The Price has now officially entered into a bull market where we can expect upside to continue.
7>21
Price<200- test
RSI>50
Target 143.40
This coincides with the US dollar strengthening brining down many other currencies.
USDJPY HITS TP 509 PIPSUSDJPY has come to hit my TP, though I'm still expecting some upward movement. I shared an analysis on 22/02/23 concerning DXY gaining strength, which will affect dollar base pairs. I reviewed two pairs which I opened: USDJPY and EURUSD . my EURUSD trade is still open, though I have realized first TP and also added a little position which currently on profit. I will drop how I got into the trade when TP is achieved.
USD/JPY: Bullish trend to continue
Keep an eye on US Treasury yields, as the two-year US bond yield rose to 5.085%, the highest in Asia, and currently stands at 5.062%; the Nikkei index closed up 0.5% at 28444.19 points.
The USD/JPY rose to 137.90 and then retreated, but still remains bullish;
The USD/JPY rose from the morning low of 137.10 in Asia to the highest of 137.90, and then softened slightly, but still leans towards an upward trend;
Stop loss is set above the strike price of 138.00 for large options, some of which will expire tomorrow. The USD/JPY is expected to test 138.00 and the high point of December 15th;
Given yesterday's big rise, some pullback is not surprising. However, Japanese importers and other participants are waiting for the pullback to buy back in. It is also recommended to wait for a correction after the pullback to continue buying, with a buying point of 136.40.
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USDJPY - Still bearish ✅Hello traders!
‼️ This is my perspective on USDJPY.
Here I still expect bearish price action as price formed huge H4 divergence which indicates bearish move, as well price could reject from bearish order block + institutional big figure 137.000.
‼️Attention!!! Due to the fact that we have news events on USD on Wednesday, Friday and JPY on Friday, the analysis can be invalidated.
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USDJPY | Perspective for the new week | follow-up detailsDespite negative GDP data last week (negative variance of 1.71), the dollar closed its fourth consecutive week in positive territory, trading 1.80% higher to culminate at the 136.500 zone. The economic data released so far this year has painted a stronger picture of the U.S. economy. It is also worth noting that the incoming BoJ governor Kazuo Ueda indicated that the central bank will largely maintain its ultra-accommodative policy in the near term hereby indicating a weak economy and considering the significant breakout of the 135.000 zone (the first time this year); the Greenback may continue to remain in demand. This video illustrates a detailed technical perspective of what to look for in the coming week as trading opportunities is strongly leaning towards bullish expectation from a long-term perspective.
00:50 Reference to last week's daily commentaries and results
03:49 USDJPY analysis on Daily Timeframe
06:05 Macroeconomic event for the week
08:30 USDJPY analysis on the 4H Timeframe
10:30 Conclusion on next week's projections
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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.
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Bullish outlook on USDJPY - 3 March 2023On the H1 timeframe, prices are testing a support zone at 136.20, which is in line with the 38.2% Fibonacci retracement. A throwback to this zone presents an opportunity to ride the bounce to the resistance zone at 137.20. Stochastic RSI is in the oversold region below 20, and price is hovering near the bottom of the Bollinger Bands, supporting our bullish bias.
Cheeky long for USD/JPYUSD/JPY is grinding higher on the daily chart, although it seems wary of the 200-day MA overhead. But at the same time, it looks as though it at least wants to test it (and is sat near the daily R1 pivot).
Prices have pulled back on the 1-hour chart in a corrective fashion, and the corrective lows found support at the 50-hour EMA and a previous swing high. Prices are also trying to hold above the daily pivot points.
- The bias is for an upside break due to the underlying trend, and that is something a strong ISM services report later today could help with.
- The initial target is 137, ahead of the daily R1 / 200-day MA,
- The bias remains bullish above 137.40
USDJPY H4 ZONE MARKINGWe have USDJPY H4 Analysis for Zone Marking.
According to this analysis, we can see the price still running Above 200MA & price Running ascending channel using pattern of Higher High & Higher Lows
This sign of buying pressure for more confirmation we have marked demand & supply zone which is mentionedin the downside.
Demand zone1@ 132.276 to 131.460(Strong)
Demand zone2 @ 131.000 to 129.648 (strong)
Demand zone3 @ 128.525 to 127.759(strong)
supply zone1@ 136.890 to 137.532 (Strong)
Supply zone2@ 137.751 to 138.246 (strong)
With this analysis, you will be able to find your most profitable trade. EnclaveFX does not recommend that you buy or sell this assist. We do not take any responsibility for your profits & losses. EnclaveFX believes in enhancing the knowledge of our clients & followers
usdjpy elliott wave update 01/03/2023usdjpy elliott wave analysis by omar ayad
Then achieve the goal of wave C
Now we are waiting for breaking 135.700 to enter into selling, the target is wave 1 of the impulse, but if 136.940 is breached, selling will be activated and the target is wave 1 of the impulse