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Usdjpysignal

USDJPY still bullish.A few words about the current market. Two weeks ago I wrote: The whole macro picture is still so weak that I find it really hard to write down: we're in a reflation trade now. I don't know how long it will last, but my guess is: until we get a sense how the September FOMC meeting might play out. Yes, we are still in that trade, everybody hates it (including me), because fundamentally we shouldn't be. But we see it everywhere: The market is ignoring hawkish Fedspeak It's ignoring hawkish data (NFP last week) It's rallying on dovish data ( CPI this week) Sector performance is reflationary, high-yield spreads are narrowing, breadth is strong, the Aussie is performing, Commodities are off lows and so on I still don't believe it's going to last, but for now it is what it is. So, again I reiterate my main message from the last two weeks: Strong opinions, weakly held. Being nimble. Trading the market, not expectations. That's going to be even more essential for the coming weeks.
Long
by xxpqxx999
USDJPY - Buy/Long at Pullback/Support - Uptrend ContinuationUSDJPY Buy/Long Buy 134.385 Looking to buy at this level to see the continuation of the uptrend, this could be a good pull back level and this buy zone is previous resistance which could turn support. Also lines up with the 0.382 Fib level, (0.50 Fib Level is also covered by our stop los), should price decide to hit that.) After Fridays NFP results, US printed stronger than expected employment figures so I think we will continue to see bull strength. Stop: 133.828 Stop has been set at this level, i have given the 0.382/buy zone some breathing space, also as mentioned previously 0.50 fib level is covered within this stop area. if price hits stop I would no longer believe price is respecting this zone and would look for another buy opportunity at 133.00 level. TP: 136.630 Take profit has been set at 136.630 - this is a key Daily support/resistance area. Look at moving stop to break even and trailing profit.
Long
by dinomalik
Time to go long USDJPY?For the time being should not hesitate to take additional easing measures if necessary. It is appropriate for the Bank to maintain the current forward guidance for the policy rates. In this situation, it is appropriate that the Bank encourage wage increases through monetary easing, aiming to achieve the price stability target in a sustainable and stable manner. Given that a rise in some determinants of underlying inflation , such as services prices, and CPI inflation exceeding 2 percent in a stable manner have not come in sight, it is natural to continue the current monetary easing.
Long
by xxpqxx999
USDJPY has formed reversal on daily, possible drop!!USDJPY( Daily) was in a bullish move for the long term. The price action only daily has created a reversal pattern and on the close of the monthly candle, we could see deeper retracement and a potential drop in USDJPY. We see a double top, followed by a head and shoulder and, today's daily candle has just tested the neckline of this double as resistance and strongly rejected. At the same time, daily head & shoulder has lower highs on the right side. As the monthly & weekly close is nearing, there is highly likely that USDJPY will come for a deeper retracement to the downside!! If you like this analysis. Do not forget to like and comment to help the idea. Thank you!!
Short
by ForexWizard01
USD/JPY analysis: no time for mercy? During its July meeting, the Bank of Japan (BoJ) voted 8-1 to keep its key short-term interest rate ( JPINTR ) at -0.1% and 10-year bond yields ( JP10Y ) around 0%. However, it lowered its GDP growth forecast for 2022 from 2.9% in April to 2.4%, mentioning slowing global growth and problems with the supply chain caused by the long war in Ukraine. On top of that, as the price of energy, food, and durable goods continue to rise, the board has increased its 2022 inflation projection to 2.3%, up from 1.9%. The BoJ's policy stance remains extremely dovish. Despite a worldwide wave of central banks tightening policy, the BoJ emphasised in its statement that it will not hesitate to implement more monetary easing measures if necessary. USD/JPY chart analysis The Bank of Japan is the only central bank that has yet to join the chor us of the worldwide tsunami of monetary tightening. Clearly, the prospect for a currency whose central bank is unwilling to raise interest rates when the rest of the world is doing so is tilted to the bearish side. Although the USD/JPY pair has already reached severe oversold RSI levels on the weekly chart, fundamentals remain negative for the Japanese yen. A test of the psychological barrier at 140 is an interesting short-term level, while the most aggressive bulls see 147.55 (the high hit in August 1998) as a medium-term target (6% above current levels). The alternative scenario involves the onset of a severe US recession with deflationary repercussions as a result of a collapse in demand. This may prompt a reevaluation of the Fed’s rate rises, halting the increasing rate gap with the BoJ, which will be beneficial for the JPY. But this is a remote scenario at this moment due to the strength of the American labour market and supply chain disruptions that cause worldwide inflationary
by Capitalcom
Is UsdJpy topped? Correction is probableSince the break above 116 resistance in March, UsdJpy has risen strongly, gaining around 20%. However, from the 135 top made in June, the pair's new highs are marginal, giving us a clue that the bulls are tired. After the last high from last week, the pair has started to roll back and if today's candle is closing red, we can have a "tree black crows" candle formation on our daily chart, which is a signal for sell. As long as the last high is intact, I expect a correction, and swing trades can focus on the 132 zone. Interim support is at 135
Short
by Mihai_Iacob
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