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Japanese Yen / U.S. Dollar

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USDJPY - Hangman Reversal (600 pip)Dollar (USD) has been extremely strong, however has come to a point of resistance and risk. US Elections are in 10 days. Market is monitoring the resiliency of US economy. With markets normalizing, looks like there may be more appetite for risk as Central Banks are telegraphing their moves. Yen (JPY) has been been on the other side of this coin and it has been nothing but weak. This is at a potential changing point with new administration in Japan, expected rate hikes coming from BoJ and shifting global trends. This will be highly data-driven trade. Can be invalidated or in-the-money extremely quickly.
Short
by dsmall
UsdJpy Trade IdeaA set up I'm looking to get into this morning is going to be a short set up on UJ. UJ has been ranging since last week with solid structures for a trading opportunity. Price opened up bullish before crashing back down below resistance. Smaller time frames show a shift in structure after the bullish run so I'm personally looking to get into some shorts within the range. If all goes well I'll execute for a 1:3rr. We'll see what happens. IF price doesn't give confirmation and decides to push back to the upside I'll adapt and wait for some type of buying opportunity or call it a day if another pair doesn't present a solid set up.
Short
by OfficialJ23
USD/ JPY ! 10/ 28 ! SELL resistance ! GAP USD/ JPY trend forecast October 28, 2024 The Japanese Yen (JPY) recovers about 50 pips from a three-month low against the USD, though gains are limited amid uncertainty over the Bank of Japan's rate hike plans and the ruling coalition’s recent loss of its parliamentary majority. Additionally, a positive risk sentiment continues to weigh on the safe-haven JPY. At the beginning of the week, the price created a GAP to increase - need to adjust to fill the GAP. There is a slight resistance zone - in the context of not much important news today. /// SELL USDJPY : zone 153.250 - 153.550 SL: 153.850 TP: 60 - 100 - 250 pips (151.050) Safe and profitable trading
Short
by Moon-ForexAcademy
2
USD/JPY at Key Support: Bullish Momentum with Possible CorrectioUSD/JPY is currently sitting at a strong support level that has proven its significance in the past. Although the price previously broke through this level with strong momentum, it has since lost steam. The overall trend and outlook still indicate a potential continuation of the bullish movement. However, be mindful of the possibility of a correction. If you observe strong upward momentum, you may consider joining the uptrend, targeting previous high (161.70) levels as indicated on the chart.
by Charts_M7M
USDJPY todayUSDJPY is currently trending upward, driven by several key factors: Interest Rate Differential: The Federal Reserve’s higher interest rates make the USD more appealing to investors, especially as the Bank of Japan (BoJ) maintains near-zero rates. This rate difference is a fundamental reason for the yen’s weakness against the dollar. Strong U.S. Economy: Robust economic data from the U.S., particularly in employment and growth, bolsters the dollar. In contrast, Japan’s slower growth adds further momentum to USDJPY’s upward movement. Safe-Haven Demand: Geopolitical tensions have led investors to favor the USD over the yen as a safe-haven asset, pushing USDJPY higher. These factors collectively support the bullish trend in USDJPY.
Long
by Pierce_Bowers
USD/JPY Chart Analysis: Rate Hits Autumn HighUSD/JPY Chart Analysis: Rate Hits Autumn High Today’s USD/JPY chart indicates that the U.S. dollar has strengthened against the yen by over 6.6% since the beginning of the month. Starting this trading week, the rate has surpassed 153 yen per dollar, a level not seen since August 31. This bullish sentiment towards the dollar has been driven by the outcome of Japan’s parliamentary elections over the weekend. According to Reuters, investors believe that the loss of the ruling coalition’s majority in Japan’s parliament reduces the likelihood of a future interest rate hike, contributing to the yen's weakening. On October 10, there was speculation that bears might halt the October rally (marked by the blue channel) and guide the rate back down within a descending channel from its upper boundary (marked in red), with the psychological level of 150 yen per dollar acting as resistance. However, bulls maintained their momentum (which originated from the psychological level of 140 yen) and continued the rally, breaking through this resistance. Per USD/JPY technical analysis, the 150 yen level may now serve as a support line. The RSI indicator currently suggests the formation of a potential bearish divergence, hinting that a slight correction might occur as the market anticipates key upcoming news, which could heavily influence the sustainability of the current USD/JPY rally: → The Bank of Japan’s interest rate decision, expected on Thursday → Key U.S. labor market data releases scheduled for later in the week 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
Market Analysis: USD/JPY Remains In Strong UptrendMarket Analysis: USD/JPY Remains In Strong Uptrend USD/JPY is rising and might gain pace above the 153.85 resistance. Important Takeaways for USD/JPY Analysis Today - USD/JPY climbed higher above the 150.50 and 152.20 levels. - There was a break above a key contracting triangle with resistance at 152.00 on the hourly chart at FXOpen. USD/JPY Technical Analysis On the hourly chart of USD/JPY at FXOpen, the pair started a fresh upward move from the 149.00 zone. The US Dollar gained bullish momentum above 150.50 against the Japanese Yen. It even cleared the 50-hour simple moving average and 152.00. There was a break above a key contracting triangle with resistance at 152.00. The pair climbed above 153.50 and traded as high as 153.88. It is now consolidating gains above the 23.6% Fib retracement level of the upward move from the 151.45 swing low to the 153.88 high. The current price action above the 153.20 level is positive. Immediate resistance on the USD/JPY chart is near 153.85. The first major resistance is near 154.20. If there is a close above the 154.20 level and the RSI moves above 65, the pair could rise toward 155.00. The next major resistance is near 155.85, above which the pair could test 157.00 in the coming days. On the downside, the first major support is 153.20, below which the bears could gain strength. The next major support is visible near the 50% Fib retracement level of the upward move from the 151.45 swing low to the 153.88 high at 152.65. If there is a close below 152.65, the pair could decline steadily. In the stated case, the pair might drop toward the 152.20 support zone. The next stop for the bears may perhaps be near the 151.45 region. 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
USD/JPY Analysis for October 28, 2024: Bearish Bias Amid Rate !Introduction The USD/JPY pair faces a potential bearish bias today, October 28, 2024, as market sentiment and fundamental factors weigh on the US Dollar. Below is a detailed analysis of the USD/JPY currency pair, highlighting key economic data, monetary policy signals, and global risk appetite, all of which suggest a downward tilt in USD/JPY for the day. Key Drivers of Bearish Bias in USD/JPY 1. Federal Reserve Policy Outlook - Recent Federal Reserve commentary has created a dovish outlook, signaling a likely pause in interest rate hikes. This expectation comes amid signs of slowing US economic momentum, specifically within the labor market and consumer spending. - Market participants are increasingly factoring in lower yields on US Treasury bonds, reducing the demand for the USD as investors seek higher returns elsewhere. A weaker dollar directly impacts USD/JPY, pressuring it downward as Japanese yen demand remains steady. 2. Japanese Yen as a Safe-Haven - The Japanese yen, traditionally viewed as a safe-haven currency, often appreciates during times of economic uncertainty or lower US Dollar strength. Current global geopolitical concerns and risk aversion have pushed some investors back into the yen, enhancing its value against a softening USD. - Additionally, with Japan's recent stability in inflation and the Bank of Japan’s commitment to policy balance, the JPY could see support as the yen maintains strength, despite the BoJ’s dovish stance in recent years. 3. US Economic Data Weakness - Last week, softer-than-expected data in the US labor market and consumer confidence metrics suggested a slowing economy. With potential headwinds in these key areas, investors may be viewing USD as overvalued at current levels, leading to a weakening of USD/JPY. - The recent dip in the US Purchasing Managers’ Index (PMI) further underscores concerns of economic slowdown, diminishing demand for the USD and supporting bearish pressure on USD/JPY. 4. Technical Analysis: Support and Resistance Levels - Support Level: Key support for USD/JPY is currently at 148.50. A move below this level could accelerate bearish momentum for USD/JPY. - Resistance Level: Resistance around 150.00 remains a psychological barrier for the pair. Failing to break this level strengthens the bearish case as sellers look to capitalize on a potential reversal. - Moving averages and RSI indicators also show signs of bearish divergence, suggesting that downside potential is present in the short term. 5. Broader Global Risk Sentiment - Broader market sentiment remains cautious, with some aversion to riskier assets as investors shift focus to more stable options like the yen. With China’s economic recovery wavering and other global uncertainties affecting investor sentiment, a “risk-off” environment typically benefits the yen while weakening USD/JPY. Conclusion Given these combined factors, USD/JPY could face a slight bearish bias today, pressured by a dovish Fed outlook, weak US economic data, and steady yen demand. Monitoring global risk sentiment and economic data releases will be essential for traders, as any shifts could further define USD/JPY’s direction in the coming sessions. --- SEO Keywords for TradingView: 1. USD/JPY forecast 2. USD/JPY today 3. Japanese Yen analysis 4. US Dollar bearish outlook 5. Federal Reserve impact on USD/JPY 6. forex trading USD/JPY 7. USD/JPY support and resistance 8. USD/JPY technical analysis 9. safe-haven currency yen
Short
by PERFECT_MFG
USDJPY BULLISH SENTIMENT CEMENTEDThe USD/JPY exchange rate can be influenced by various factors, including interest rate differentials, economic data releases, and geopolitical events. If the USD/JPY is experiencing upward movement, it might be due to: Interest Rate Expectations: If the U.S. Federal Reserve is expected to raise rates or maintain higher rates compared to Japan's central bank (which often has a more dovish stance), the USD might strengthen against the JPY. Economic Data: Strong economic indicators from the U.S., such as job growth or GDP growth, can boost confidence in the dollar. Geopolitical Factors: Increased uncertainty in global markets can lead investors to favor the USD as a safe haven. Market Sentiment: General risk appetite can also affect the USD/JPY, with stronger demand for the dollar in times of uncertainty. Central Bank Policies: Any shifts in monetary policy from the Bank of Japan, like potential easing or maintaining low interest rates, can weaken the yen.
Long
by Marshall_Wick
1
Weekly Forecast: A High Volume Week Ahead!Common themes across the board with daily rallies that need to exhaust sooner or later and price approaching (if not already in) weekly EPD levels which overlap with Order Blocks or Fair Value Gaps. With an abundance of opportunity in the market, be careful not to marry your bias by maintaining a neutral perspective on all pairs. My Bias for the week is as follows: DXY - LONG EURUSD - SHORT AUDUSD - SHORT GBPJPY - LONG USDJPY - LONG
Long
by The_Modern_Day_Trader
USDJPY needs to pay attention to the BOJ meeting on ThursdayThe Bank of Japan will make a decision on interest rates this Thursday and the market currently expects the bank to leave interest rates unchanged. At about 10:00 Hanoi time on October 31 (Thursday), the Bank of Japan will hold an interest rate decision. As fears of a recession in the US ease, the Bank of Japan may signal that its policy outlook will be less dovish. Recent data shows that Japan's core inflation remains under upward pressure, but the Bank of Japan will likely continue its "wait-and-see" approach at this week's meeting. The market will closely monitor the quarterly outlook report, as well as changes in the Bank of Japan's assessment of risks to the US economy and the recent depreciation of the yen. Technically, after being limited by the 0.618% Fibonacci retracement level, OANDA:USDJPY has dropped to get more support from the upper edge of the price channel. Along with that, maintaining price activity above the 0.618% Fibonacci level will be a positive signal for the uptrend in the near future. Currently, USD/JPY is likely to test the 154.525 level in the short term, more so than the 155.222 level with an upward trend from the near-term price channel. However, the room for USD/JPY's price increase is no longer too wide as the Relative Strength Index (RSI) is reaching the overbought level, signaling corrections to occur. But as long as USD/JPY remains in the price channel, it still has an uptrend in the short term, and as long as it stays in the price channel and maintains price activity above EMA21, it still has an uptrend in the medium to long term. The current price drops should be considered a short-term correction without changing the main trend. In the immediate future, the uptrend of USD/JPY will be noticed by the following technical points. Support: 153.365 – 151.866 Resistance: 154.525 – 155.22 2
by Xayah_trading
USDJPY 1W | BULLISH IdeaThe USDJPY outlook remains bullish as strong U.S. economic data, particularly higher consumer sentiment and robust core capital goods orders, bolsters the dollar. With safe-haven flows supporting the USD amid global uncertainties and Japan’s dovish monetary stance, the pair is positioned for further gains. While the Fed’s cautious approach on rate cuts and stable Treasury yields may limit extreme upside moves, market sentiment favours moderate gains for USD/JPY in the near term, supported by the divergence between U.S. and Japanese central bank policies.
Long
by GOLDFXCC
USDJPY Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Short
by ShahedZare