Usdjpysell
Clear downside for USDJPYThe dollar yen has confirmed the down move giving a us a bearish candle on the weekly chart. We think this week should end up red too before we enter a consolidation in November as the market awaits the next news trigger to form a direction.
BEAR CASE
We wait for a correction and enter a short. Our exit is near the top of the channel at 112.5
USDJPY-ShortUSDJPY
Market is moving in bullish in daily timeframe. In shorter timeframe market has broken out of descending trendline and unable to cross strong resistance above. RSI is also at 78 In 4H timeframe. So most probably This pair is going to fell sharply from resistance.
Need confirmation when running candle is close below resistance.
USD/JPY SELL NOW...
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USD/JPY Trend AnalysisOn the first day of a new trading week, the pair was faced with new supply, and it has now given up a significant portion of its Friday gains. The riskoff trend in the markets, which tends to boost the safe-haven Japanese yen, fueled the first day of a negative move in the previous three. The fastspreading Delta variation and a global economic recession continue to worry investors. This, combined with the imminent disaster at leveraged developer China Evergrande, dampened risk appetite.
Politics has contributed to the uncertainty ahead of Canada's and Germany's federal elections this week. As a result, the market's attention is drawn to the crucial FOMC monetary policy meeting, which begins on Tuesday. Investors will be looking for signals regarding the expected timing of the tapering of bond purchases, which will have a significant impact on near-term USD price dynamics and give the USD/JPY pair a new directional impetus. Meanwhile, in the absence of important market-moving economic reports on Monday, traders will look to broader market risk sentiment and US bond yields for potential short-term trading opportunities.
20th September 2021: USDJPY Losing Momentum $108.00FX:USDJPY will be likely losing its trend next week. This projection will be lead to the price of $108.00 in near future.
While waiting for the economic projection on FED 21-22 September 2021 news, the market will turns slow as all trader waiting for the news result.
As many statement on the market analysis, FED will be unlikely to announce tapering next week.
While the stimulus on the dollar has diminish, this will give advantages to other intrusment on hedging against the Dollar.
“In the U.S., the key focus of next week will be the Federal Reserve’s meeting, though it may prove unextraordinary. After what was a disappointing August jobs report, it’s unlikely we’ll see the Fed formally announce the tapering of its outsized asset purchases. We do, however, still see that occurring this year, so we’ll be closely following Powell’s press conference for clues on the exact timing.”
On the other side of sentiment and position contract, fund manager and commercial trader has been locked their selling position on Dollar next week versus the Japaneses Yen.
The tide has change for next week and looking towards the Dollar find support at $108.00 versus the Yen.
Zezu Zaza
2048