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Usdjpysignal

USD/JPY Technical Analysis: Neutral with Bullish BiasSince the start of this week's trading, the USD/JPY has been moving within attempts to rebound upwards, reach the 113.78 resistance and settling around 113.50 as of this writing. This came after the announcement of growth figures for the Japanese economy, and no important US data. The US dollar is still supported by expectations that the US interest rate will be raised soon. Federal Reserve Chairman Jerome Powell, in testimony to US lawmakers last week, said he no longer sees inflation as temporary, and the possibility of an accelerating "gradual taper" could be announced at the US Federal Reserve's December meeting. The US trade deficit narrowed to $67.1 billion in October, the lowest level in six months, after hitting a record high in September. A significant rebound in exports helped offset a much smaller increase in imports. In this regard, the US Commerce Department reported that the October deficit was 17.6% below its all-time high in September at $81.4 billion. It was the smallest monthly deficit since the $66.2 billion imbalance in April. Economists see the strong rebound in exports as evidence that global supply chains are beginning to disintegrate, and believe that smaller deficits this quarter could give a boost to overall US economic growth. There were gains in many export categories, indicating that the recovering global economy is beginning to boost demand for US products. Americans' demand for imports was racing ahead of export sales as the US economy recovered more quickly than other countries from the pandemic. In October, exports rose 8.1% to $223.6 billion while imports rose 0.9% to $290.7 billion. A deficit is the gap between what the United States exports to the rest of the world and the imports it buys from foreign countries. The politically sensitive trade deficit with China, the largest with any country, fell 14% in October to $31.4 billion. In the first 10 months of this year, the goods trade deficit with China was 13.7% higher than it was a year ago. America's total trade deficit is $705.2 billion so far this year, up 29.7% from the same period last year. Trade flows were sharply reduced last year as the COVID pandemic curtailed economic activity. Part of the October increase in exports reflected an increase in oil exports, reflecting the return to more normal operations at Gulf Coast refineries that had been closed by Hurricane Ida. Big gains in US auto exports and imports suggest that the global shortage of computer chips that has hampered auto production is beginning to recede, a trend that leaders in the auto industry have noted. Commenting on the results, Andrew Hunter, chief US economist at Capital Economics, predicted that the improved business picture would add about one percentage point to US economic growth in the current October-December quarter. It expects GDP to grow at an annual rate of 6.5% this quarter, a significant improvement from the modest 2.1% growth rate in the third quarter. Technical Analysis As I expected, the USD/JPY will continue to move in narrow ranges until the US inflation figures are announced. The psychological resistance is still 114.00 and is crucial for the bulls to continue moving upward. So far I still prefer to sell the currency pair from every bullish level. There is still a break in the trend on the daily chart and the neutrality of performance in the recent period is due to the markets’ loss of catalysts for a higher launch, as the world is still studying the effects of the new COVID variant and its resistance to approved vaccines and the absence of influential US data since the beginning of the week's trading. To the downside, breaking the 113.00 support will give the bears the motivation to move back, and accordingly, the next support levels may be 112.25, 111.40 and 110.80.
by SmoothJB
USDJPY | Perspective for the new weekAs the Greenback appear to begin on a positive note during the initial hours of the Tokyo session today, the US inflation concerns ahead of this week’s US Consumer Price Index (CPI) is likely to be a major determinant on this pair. However, the strong bearish engulfing candle that thwarted buying momentum on the 29th of Nov 2021, sends a wave of caution as any selling opportunity can only be confirmed if we have either a rejection of the broken bullish trendline or an outright breakdown/retest of JY112.800 within the week. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Trendline Observation: i. Since mid September 2021, the USD recorded 5.85% growth against the Yen to initiate an uptrend momentum. ii. But after testing JY115.500 on the 24th of November 2021, we witnessed a sharp decline which broke the Bullish Trendline to the downside insinuating a possible reversal or retracement of Impulse leg (check weekly chart). iii. During the course of last week trading session, I observed that the price broke and closed below the key level @ JY112.800 a couple of times and this gives me an impression that the sellers are gaining momentum at this juncture. iv. Patience is hereby required at this point as the early hours/days of the new week might see a price climb to test the new supply level identified on the chart around JY113.750/114.500 to incite further decline. v. In case the price does not climb and we witness a Breakdown of the Demand level which has held price "supported" since September 2021; then we can prepare a sell position with the key level @ JY112.800 as a yardstick... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 7 to 15days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. 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. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
USD/JPY Technical Analysis: Reversing the General TrendOn the daily chart, the USD/JPY is stable in an important area. Breaking the 113.00 support supports a bearish reversal of the trend an further movement down. The closest support levels for the pair are currently 112.75, 111.80 and 110.90. On the upside, the bulls will break through the 114.60 resistance to return to the upside track. I still prefer selling the currency pair from every bullish level. The USD/JPY will be affected today by the announcement of the US consumer confidence reading and the testimony of US Federal Reserve Chairman Jerome Powell. For the third day in a row, the USD/JPY is settling below the 113.00 support level after strong selloffs which the pair recently witnessed as it collapsed from its highest level in six years, when it tested the 115.52 resistance level last week. The outbreak of a new variant of the Corona virus, which contributed to the return of lockdowns, disturbed investors and markets, and it may also be with global central banks that are heading towards tightening their monetary policy. This morning, the currency pair attempted to correct upwards to reach the 113.88 resistance level, but it came back down, settling around the 113.10 support level at the time of writing the analysis. FX markets have generally calmed since the start of this week's trading, despite mixed omicron anxiety that dominated international headlines. Currently, investors seem to adopt a wait-and-see approach to investing. Market analysts are still forecasting fluctuations in the currencies' performance. “Until then, market volatility is likely to remain elevated,” said Rodrigo Cattrell, senior FX analyst at National Australia Bank, in a note to clients. “Markets have had to reassess the global growth outlook until we know more. ” Global financial markets will be watching US President Joe Biden's speech when he provides an update on America's response to the new variant. Although the World Health Organization (WHO) has urged everyone to avoid a sudden reaction, officials have reacted by closing borders and suspending travel to and from major destinations. Meanwhile, investors will be paying close attention to the speeches of several Fed leaders. Fed Chair Jerome Powell and outgoing Fed Vice Chair Richard Clarida will speak and may offer some insights into how the omicron variable could affect the US central bank's monetary policy moving forward. The US dollar index (DXY), which measures the performance of the US currency against a basket of six major competing currencies, rose to 96.20, and the index suffered a weekly loss last week of 0.3%, but it is still up by 7% since the beginning of the year 2021 to date. The USDJPY rate may be more sensitive to the ebb and flow of risk appetite in global markets as well as any other insights into the Fed's policy outlook that all of the different Fed rate setters who are set to speak publicly throughout the week may offer. These various speeches will come after Federal Reserve Chairman Jerome Powell's Monday and Tuesday appearance in Congress, and they will all be listened to closely by the market for clues about whether the new virus strain is something that can prevent the Fed from accelerating its tapering easing program. Quantitative bank begins to raise US interest rates. This comes after the minutes of the Federal Reserve's November meeting last week revealed that some of the bank's policy makers were considering calling for exactly this course of action, which severely affected the currency pair's price.
by SmoothJB
USDJPYhello Traders Here we are expecting a USDJPY Short trade idea. push like And keep us going , usdjpy - it may be reverse from here so we are looking for short - Now the current price is approached towards strong area and where i am expecting reverse and there is no need to wait . waiting for dollar weakness SHORT Why are we entering? - Expecting JPY strength and USD weakness - Price broke the ascending trendline = bearish Entry now is a good time Once entered, where will our Stoploss be? - above the rejected price Where do we take profits? - TP: 112.200
Short
by Elrouby
USD/JPY 4HR CHART HEAD AND SHOULDERS SET UPHi everyone this is my trade set up for the USD/JPY for the new week ahead USD/JPY i think will push lower as it formed head and shoulders last week and closed below the neck line, so I expect a nice sell set up look for sell activity in the order block lined off on chart then if it meets your criteria for a trade then execute This is my analysis only please trade with caution and risk management in place good luck for this weeks trading please like and comment both are welcome
Short
by Costy13
UsdJpy- Rise to 118.50?There is no doubt that the overall trend for UsdJpy is strongly bullish and after reaching a recent high above 114, the pair corrected some of the gains. The spike under 113.30 support was short-lived and quickly reversed giving us a signal that bulls are here and are very strong Now UsdJpy is trading just under local resistance and a break looks imminent. Once we have this break we can expect continuation to the upside and 118.50 is my target for this rise
Long
by Mihai_Iacob
13
USD/JPY : Daily Candle Breaking Below 113.30, may test 111.00The US 10 years bond is dropping. As a result, safe-haven JPY is a bit stronger against all the major currencies. From the current market price, 113.30 is identified as immediate resistance. So, the USD/JPY traders must wait where the daily candle closes. If the USD/JPY closes below the 113.30 price zone, the market can test the 112.30 price zone very soon. And finally breaking below 112.30 price zone, last target to the downside 111.00 price zone.
Short
by Gold_Trading_Expert
2