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Usdjyp

The USD/JPY pair fell following the release of Tokyo CPI dataThe Japanese Yen strengthened against the U.S. Dollar on Friday. The USD/JPY pair declined after recent gains as the Yen gained strength following the release of Tokyo’s Consumer Price Index (CPI) inflation data. This data is expected to support the Bank of Japan in raising interest rates in January. The Tokyo CPI inflation rate rose to 3.0% year-on-year (YoY) in December, up from 2.6% in November. Meanwhile, the Tokyo CPI excluding fresh food and energy increased by 2.4% YoY in December, compared to 2.2% the previous month. The Tokyo CPI excluding fresh food also rose by 2.4% YoY in December, slightly below the expected 2.5%, but higher than the 2.2% recorded in November. From a technical chart perspective, the USD/JPY pair tested the resistance level of 158.05 but failed to sustain that price and dropped to the support level of 157.58. If there are no significant movements ahead, this pair could continue to decline toward the previous support levels of 157.33 and 156.96.
by Alisa_Rokosz
USD/JPY Outlook: Strong Support at 156.08, Targeting 159.00The USD continues to maintain its strength as the Fed keeps interest rates high to control inflation. With expectations that the Fed will maintain this policy for at least the next few months, the USD will continue to have an advantage in competition with other currencies, including the JPY. This supports the USD/JPY in maintaining its upward trend. Looking at the technical chart, with an important support level at 156.08, this will provide momentum for the pair to continue growing and possibly break through the nearest resistance level at 157.69. Once this level is breached, the pair is likely to experience a strong upward movement, with the next target at 159.00. Traders need to closely monitor the signals from the Fed and BOJ in their upcoming policy meetings, and use key support and resistance levels to make informed trading decisions.
by Alisa_Rokosz
USDJYP - Technical Analysis [Short Setup]🔹 USDJYP Analysis on 4H chart - The current Trend is BULLISH - There is BEARISH divergences - Reversal pattern is present which is rising wedge 🔹 Trade Plan For 1HR - Entry Level = 149.093 - Stop Loss = 149.656 - TP1 = 148.545 - TP2 = 147.982 - TP3 = 147.397 🔹 Risk Management - First TP is 1:1 - Second TP is 1:2 - Third TP is 1:3 🔹 How to Take Trade? - Only risk 2% of your portfolio - Take 1% risk entry with 1:1 RR - Take 1% risk entry with 1:2 RR - Take 1% risk entry with 1:3 RR Like and subscribe to never miss a new idea! ✌🏼
Short
by Bountysoul
USDJPY PREPARES FOR A DOWNWARD PUSH?Here we have USD/JPY trading around our Daily Breach area. I expect the market to continue the push down @111.765 or @111.736 region. We will wait for confirmation and enter the market with proper risk management. #SIMPLETRADING #BEYONDFOREX TRADING TIP Developing a professional attitude should be a goal in our trading. Trading is a business and not a hobby if you want to pursue this a career. When developing we need to figure out what trading session fits our schedule and stick with this session. After session close make sure to not trade after. This will start your way as a Professional Trader. Come to work everyday at this time and develop that routine to follow. You will see a big change in your trading.
Short
by CoreyT