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Usdjpysignal

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
USDJPY | Perspective for the new weekThe US dollar appears to have regained bullish traction as we witnessed a bounce back and forth before the price finally broke out of the Key level @ Y130.800 to reveal buyers strength at this juncture in the market. As we all have noticed that the Yen is being sold off against almost every major pair in recent time, and following Higher US bond yields and hawkish Fed expectations the scenario painted here is not a different one at the moment. The present market structure could probably explain what is going on with the Japanese yen as I look forward to a buying opportunity on this one in the coming week. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline Observation: I. Since mid-September 2021, the USD recorded a 5.05% growth over the Yen to set the tone for a Bullish momentum in the long term. ii. Despite citing a reversal pattern after hitting a peak at Y114.700 in mid-October 2021; Sellers have been finding it difficult to push the price below Y113.400. iii. Bearish Trendline: A visual representation of resistance line drawn over pivot highs reveals the prevailing direction of price and speed of price in the last couple of weeks. iv. However, the Y113.400 Level has kept price "supported" in the last couple of weeks to suggest a decline in Bearish momentum. v. In this regard, it is obvious to state here that buyers have continued to pick prices up from Y113.400 hereby making this zone a significant demand level in the meantime. vi. Following a Breakout of Key level @ Y113.800 during last week trading session, I shall anticipate a Breakout of Bearish Trendline for signal confirming a rally in the coming week(s). vii. Even as above Key level remain a yardstick for taking a long position, I have identified a "New Demand level" on the chart for trading opportunities should the price plunge... Trade consciously!😊 NB: Considering the reversal pattern identified after hitting Y114.700, It is worthy to state here that a significant Breakdown of Y113.400 should render the narrative invalid hereby welcoming an opportunity to short the pair temporarily (correction phase) at a retest of the Demand zone broken. Trading plan: BUY confirmation with a minimum potential profit of 100 pips. Risk/Reward : 1:4 Potential Duration: 4 to 10days 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.
Long
by darcsherry
3