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Usdjpytrading

USDJPY: 1H Rising Wedge approaching its top.USDJPY is almost overbought on its 1H technical outlook (RSI = 69.322, MACD = 0.160, ADX = 19.927) as the price is approaching the top (HH) of the 10 day Rising Wedge. A 74.00 RSI has been the most optimal sell signal during the three past highs to start shorting. Wait for the opportunity and target the 0.5 Fib at least (TP = 149.645) as it has been the minimum target during the last two bearish waves. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
USDJPY Analysis for 03/10/2024: Anticipating a Slightly Bullish.As of October 3, 2024, the USDJPY currency pair is exhibiting signs of a slightly bullish bias. Several fundamental factors and market conditions are aligning to support this outlook. Traders focusing on USDJPY today should be aware of key drivers influencing this potential movement. Key Drivers for USDJPY Bullish Bias 1. US Dollar Strength - The U.S. dollar is maintaining its strength amid ongoing Federal Reserve hawkishness. Recent speeches from Fed officials have reinforced the possibility of additional interest rate hikes, which supports the USD. Higher U.S. interest rates typically attract foreign investment, leading to increased demand for the dollar. - Today, expectations of economic resilience in the U.S. are high, with upcoming non-farm payrolls and inflation data later in the week likely to cement this bullish outlook. 2. Divergence in Central Bank Policies - The Federal Reserve’s stance is increasingly at odds with the Bank of Japan (BoJ), which remains committed to ultra-loose monetary policies. The BoJ continues to support its yield curve control program, making the yen less attractive for investors. As the U.S. tightens, the BoJ’s dovish position could lead to further depreciation of the yen, supporting a bullish USDJPY trend. - Today’s market sentiment reflects this divergence, as traders expect the BoJ to stay accommodative while the U.S. dollar benefits from higher yields. 3. Treasury Yields on the Rise - U.S. Treasury yields, especially the 10-year note, have been climbing. Higher yields are a crucial indicator of rising demand for the dollar. As bond yields rise, so does the attractiveness of U.S. assets, drawing capital away from yen-denominated assets. - With Treasury yields set to increase, USDJPY is likely to follow a bullish trajectory today, as investors seek better returns from U.S. bonds. 4. Risk-On Sentiment - Today’s global risk sentiment is relatively optimistic, which traditionally favors higher-yielding currencies like the USD over the safe-haven yen. Equity markets have seen gains, and positive sentiment around U.S. economic data could continue to support risk-on trades, driving USDJPY higher. Technical Factors Supporting Bullish Bias - Support and Resistance Levels: Currently, USDJPY is trading near key support levels around 149.00. A successful hold above this zone could encourage a bullish push towards the 150.00 psychological level. Breaking through this level could lead to further upward momentum, strengthening the pair's bullish bias. - Moving Averages: On the daily chart, USDJPY remains above both the 50-day and 200-day moving averages, indicating a well-established uptrend. Conclusion: USDJPY Slightly Bullish Bias for 03/10/2024 In conclusion, the USDJPY pair is expected to maintain a slightly bullish bias today, supported by strong U.S. dollar fundamentals, central bank divergence, rising U.S. Treasury yields, and favorable market sentiment. Traders should watch for key levels of resistance and monitor U.S. data releases later this week, which could provide additional bullish momentum for the pair. This analysis reflects the latest fundamental factors and market conditions for USDJPY on October 3, 2024, offering insights for traders seeking to capitalize on today's potential bullish movement. Keywords for SEO: USDJPY analysis, USDJPY forecast, USDJPY trading, USDJPY bullish bias, U.S. dollar strength, Bank of Japan monetary policy, Federal Reserve interest rates, U.S. Treasury yields, Forex market analysis, USDJPY 03/10/2024, TradingView analysis.
Long
by PERFECT_MFG
USDJPY: Going for the 1D MA200. Bottom priced in.USDJPY is neutral on its 1D technical outlook (RSI = 52.086, MACD = -0.760, ADX = 27.579) as it is recovering from the previous oversold state and is already approaching the 1D MA50. September 16th was technically the new HL on the one year Channel Up bottom, with the 1D RSI already on a bullish divergence. These are all formation we saw on its previous bottom on January 16th 2023, whose rebound that followed initially hit the 1D MA200 before going for a full yearly extension. That's our medium term target again (TP = 150.500). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
USDJPY: Bullish short term. Attention at the top of the Channel.USDJPY is neutral on its 1D technical outlook (RSI = 53.858, MACD = 0.730, ADX = 52.633) and is rebounding after almost the second 1D MA50 test in 2 weeks. The pair is capitalizing on the bullish momentum of the 1 year Channel Up but this rebound could be the last before a correction, as the price is very close to the HH top trendline. Our goal is still that top (TP = 160.000). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
USDJPY: Excellent buy opportunity.USDJPY is bearish on its 1D technical outlook (RSI = 41.212, MACD = -0.110, ADX = 47.052) but not only is the price making a rebound on the 1D MA200 but the 1D RSI is also staging a rebound from nearly oversold levels, much like it did on July 13th 2023. All this price action is taking place inside a long term Channel Up pattern, so this is a buy opportunity with significant upside potential. Our target is the top of the Channel (TP = 160.00). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
4
USDJPY: Sustainable rise on 1D. Buy.USDJPY is on a bullish 1D technical outlook (RSI = 66.246, MACD = 0.750, ADX = 53.805) as the price has established trading over the 1D MA50, negating a potential 1D Death Cross and is extending the bullish wave inside the Channel Up. The 1D RSI looks like March-April 2023 so far which was the start of the second bullish wave of 2023. We are expecting a minimum of +10.75% rise and remain bullish on the medium term (TP = 155.000). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
USDJPY: Bottom of Channel Up. Time to decide.USDJPY is trading inside a Channel Up since the start of the year, with the 1D technical outlook just turning red (RSI = 40.803, MACD = -0.760, ADX = 32.756) as the price reached its bottom under the 1D MA100. The 1D RSI shows a rounded bottom, as it did on March 24th, so it is an optimal level to buy and target the R1 level (TP = 152.000). Since though the November 13th top and rejection happaned on that R1 level itself, it is not impossible to see the Channel Up finally break and start a long term correction. Consequently if the price crosses under the dotted trendline, we will target the 1D MA200 initially (TP1 = 143.050) and following a relief rebound, eventually aim for the S1 level (TP2 = 138.085). See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
USDJPY: Japan's Economic Minister warned that the global recessiStatement from Japan's Minister of Economy on the third quarter GDP report: It should be noted that the threat of global recession is depressing the Japanese economy Domestic demand, including consumption and investment funds, decreased significantly in the third quarter Personal consumption slumps due to rising prices Industrial production is under pressure due to rising raw material prices and reduced investment in construction and machinery. Consumption of services such as eating out continues to recover Concerns about the future of the Chinese economy need to be carefully monitored
Short
by Chart_MasterPro
USDJPY: Start selling, Channel Up about to form its High.USDJPY is approaching the R1 level (152.000), which is the October 21 2022 High that caused an immediate bearish reversal. The 1D MA50 is supporting a steady technical uptrend on the 1D timeframe (RSI = 60.333, MACD = 0.530, ADX = 16.176) but the RSI is descending, showing a potential bearish divergence. We consider the current level good enough to start shorting for a correction to the Channel Up bottom (TP = 145.500). See how well our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
2
USDJPY: Final rise before the pullback.USDJPY has been extending the fierce rise inside the Channel Up on a healthy bullish 1D technical outlook (RSI = 64.951, MACD = 0.990, ADX = 45.150). The 1D RSI has turned sideways since August 16th, a first indication that the uptrend might be losing steam. In our view, it is entering the last stage of this rise before a rejection to the 1D MA100 is materialized. See how every Resistance, prior LH of the 2022 decline has been filled and the final one is the R5 level at 152.000. If the pullback starts there, we will short and target the Fibonacci 0.5 level (TP 145.000), a similar structure that priced the July 14th Low. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
USDJPY: Rebound on the 1D MA50. Buy signal.USDJPY is on the third straight green 1D candle after a rebound on the 1D MA50 that has turned the 1D time-frame into healthy bullish levels (RSI = 60.603, MACD = 0.480, ADX = 30.898). This is technically a bullish continuation signal, with the 1D MACD after a Bullish Cross, resembling the bullish sequence of April. We are long, targeting the R3 level (TP = 146.800). If the price crosses under S1, we will short and target the S2 level (TP = 133.515). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
USDJPY: Double Channel Up pattern. Keep buying until it breaks.USDJPY is trading on a Channel Up inside a long term Channel Up pattern. The 1D time frame is overbought (RSI = 71.702, MACD = 1.430, ADX = 43.738) and as the RSI entered the Resistance Zone of March 1st, we expect a short term pull back inside the first Channel Up to 141.300. If the bottom (dotted lines) holds, we will buy and target towards the R3 (TP = 146.000). If however the price crosses under the Channel and as such the 1D MA50 too, we will sell and target the S2 (TP = 133.515). The HL trend line can offer an early sell warning if it breaks. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
10
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