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USD/JPY Technical Analysis: Yen StrengthensUSD/JPY Technical Analysis: Yen Strengthens after Comments from Japanese Officials This week has raised alarm bells for USD/JPY market participants who are trading the bullish momentum that has been going on since early 2024 (shown in the blue curved lines on the USD/JPY chart): → Vice Finance Minister Masato Kanda warned against “excessive volatility” in currency markets, hinting that the yen had weakened too much. → Bank of Japan board member Hajime Takata said that, in his opinion, there are prospects for achieving the inflation target of 2%, which opens the way to abandoning negative rates. Note that today there was news on inflation in Japan, which showed that it is slowing down. Thus, BOJ Core CPI in annual terms was 2.6%, a month ago = 2.6%, 2 months ago = 2.7%, 3 months ago = 3.0%. Statements from officials should increase the likelihood of a rate hike at the Bank of Japan's March meeting, thereby changing the prevailing sentiment. Reuters writes that positions against the yen are at a record high, and their collapse could lead to the fact that the 2-month bullish trajectory of the USD/JPY price will be broken. Wherein: → the psychological level factor of 150 yen per US dollar operates in the market — history shows that the fall of the yen below this level leads to a reaction from the Japanese financial authorities. → The USD/JPY price may fall to the support zone, which is formed by the level 148.50 (50% of the A→B impulse) and the level 148.8 (former resistance). This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
1
USDJPY is facing bearish pressure, potential for more downsideDescription: Price is facing bearish pressure as it is trading below the EMA(34) and is breaking below previous overlap support level at pivot . A drop from our pivot at 104.64 towards 1st support at 104.08 could be possible. Failing to edge below the pivot would see price swing towards 1st resistance where the horizontal swing high is. Pivot: 106.64 Supporting Points: 50% fib retracement, horizontal overlap resistance 1st Support: 104.08 Supporting Points: 76.4% fib retracement 1st Resistance: 105.17 Supporting Points: Horizontal overlap resistance Trading FX & CFDs carries high risk.
Short
by M4Academy
USD/JPY Short Opportunity After Pullback - Please Read ContentsThis idea is for demonstration and educational purposes and does not constitute a signal to sell. This is for study purposes only. For this pair we see a reversal pattern forming on a higher timeframe. If you look at this pair in conjunction with FX_IDC:JPYWCU we can get an idea of how USD/JPY correlates to the JPYWCU (index for JPY) . There is an inverse relationship between the two. As you study FX_IDC:JPYWCU it appears to have a reversal pattern forming for bullish outbreak. USD/JPY appears to have a reversal pattern forming for a bearish outbreak. Now, there is a lot of red folder JPY news this week which will likely cause a lot of volatility with this pair. It is imperative to study price action. Before considering a short I would watch for price to pullback to the zone as noted, and watch price action from there. A pullback greater than this zone would cancel out this idea. It is also very possible that the pullback may fall short of this zone; zones are not exact.
Short
by mrsceleste
"Top and Bottom Analysis" USD/JPY by ThinkingAntsOk4H CHART EXPLANATION: Main Items we Observe on the Chart: -Price has broken the ascending trendline. -Currently, price is inside a corrective structure. -We expect the triangle Trendline to give some type of Support before the breakout. Based on this, if the price breaks down the corrective structure below 109.750 we expect a continuation of the bearish movement towards the triangle trendline, after that if price makes a new corrective structure on that area we will look for a 2nd downward movement towards 105.300 MULTI TIMEFRAME VISION: - Weekly: -Daily:
Short
by ThinkingAntsOk
USDJPY Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=110.1. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=110.65. TP4: R2=110.8. Set the stoploss of these orders at breakout of S2=109.9. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=109.9. In this situation, there is an expectation to reach the target S3=109.25. Set the stoploss of reverse orders at breakout of S1=110.1. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity