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Usdjpytradeidea

USD/JPY Ascends Amid Divergent Central Bank PoliciesGiven the current bullish trend and the contrasting monetary policies between the Federal Reserve and the Bank of Japan, the USD/JPY pair appears to offer a good buying opportunity in the short term, especially before the release of pivotal U.S. economic data. Always remember to manage your risk effectively. TRADE IDEA DETAILS CURRENCY PAIR: USD/JPY CURRENT TREND: Bullish TRADE SIGNAL: Buy 👉 ENTRY PRICE: 146.20 ✅ TAKE PROFIT: 148.40 ❌ STOP LOSS: 145.50 ANALYSIS: The USD/JPY is in a bullish trend, supported by diverging monetary policies between the Fed and the BoJ. Technical resistance levels are identified at 147.00 and 148.45, while the U.S. Dollar Index is at a strong 104.360. This suggests that the pair could extend gains in the short term.
by RichDadph-FX
2
USD/JPY Anticipates Rally Above 143.50The USD/JPY currency pair is poised for a rally, fueled by anticipation of the US CPI data and the USD's strength. Market sentiment leans bearish with the expected S&P500 opening and recent global oil price trends may force the Fed's hand in rate hikes. Meanwhile, the BoJ shows optimism towards inflation targets, and Philadelphia Fed President advocates patience in interest rate changes. Key economic indicators and central bank comments are eyed as market determinants. TRADE IDEA DETAILS CURRENT TREND: Bullish trend given the expectations for US inflation data, and USD's strength combined with BoJ's monetary policy adjustments. TRADE SIGNAL: Buy Signal 👉ENTRY PRICE: Approximately 143.00 – Ideal entry point considering current consolidation around this level. ✅TAKE PROFIT: Approximately 144.50 – Potential target, considering recent bullish momentum, possible positive CPI data, and technical resistance levels. ❌STOP LOSS: Approximately 142.30 – A strategic point below significant support levels, providing room for normal market fluctuations while minimizing potential loss. RISK MANAGEMENT: A proper risk-to-reward ratio of around 1:3 should be maintained. Position size should align with individual risk tolerance, not exceeding 1-2% of the trading capital. TRADE PLAN: Monitor US CPI Data: Keep a close eye on the inflation data, as it can significantly impact USD's strength. Observe Oil Prices & Fed's Actions: Continuously track these variables as they could affect USD's performance. Regularly Review the Trade: Ensure alignment with the prevailing market trends and adjust as needed. FINAL THOUGHTS: This trade idea leverages the potential bullish trend in USD/JPY, driven by fundamental and technical factors. Risk management practices must be adhered to ensure capital preservation. Continuous monitoring of relevant economic indicators is essential for this trade's success.
Long
by RichDadph-FX
USDJPY refreshes multi-year highs Technical indicators for the pair remains strongly bullish. The pair is poised to break above 118 handle. Next major bull target lies at 118.66 (Dec 2016 high). On the flipside, daily cloud is strong support, weakness only on break below. The major is extending bullish streak for the sixth straight session and has refreshed multi-year highs. Russia's attack on a large Ukrainian base near the border with NATO member Poland escalated fears of third world war.
Long
by Goldsignal75
USD/JPY may drop more after breaking below 114.40Japanese yen became strong enough against the USD after the CPI report was released. Though the price index increased, it seemed not manageable, and the USD fell apart against all the major pairs. USD/JPY is hovering nearly the trendline support zone. 114.40/35 is immediate and trendline support; after breaking below 114.40/35 USD/JPY may drop more nearly 113.32 price zone this week. Today the USA labor market will release PPI and unemployment claims. I hope these reports are not going to help the USD. However, if these reports print positive USD/JPY, it can test the descending trendline area nearly at the 115.05/115.15 price zone. But as long as USD/JPY is below the descending trendline, I mean 115.10 price zone, it still has a chance to drop more. So the sell order will be invalid if only USD?JPY breaks and is stable above the 115.10 price zone. Otherwise, we will continue our sell trade from nearly 115.00 or break below the 114.40 price zone.
Short
by Gold_Trading_Expert
2
USD/JPY: Below 106.70 Sell Intact. Next Target 102.00As long as usd/jpy below 106.70, sell will persist. next target 102.00. if we see usd/jpy break above 106.700, we may go long till 108.15 and finally upside target is 110.00. beyond the present fundamental condition, it is hard to test usd/jpy 110.00. US-CHINA, Covid-19, and like such issues safe-haven JPY is still demandable. USD/JPY still closed the week below the descending trend line. fundamental also support for the downward move. USD/JPY Sell limit @ 106.10 sl: 106.70 tp1: 104.50 tp2: 102.00
Short
by UnknownUnicorn487550