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US Dollar vs Japanese Yen

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Fundamental Market Analysis for October 25, 2024 USDJPYThe Japanese yen (JPY) failed to capitalise on the previous day's recovery move against its US counterpart, attracting fresh sellers during the Asian session on Friday. The latest data, published on Thursday, revealed a contraction in business activity across Japan's manufacturing and services sectors in October. Furthermore, the decline in Tokyo's core inflation rate below the Bank of Japan's (BoJ) 2% target has led to a reduction in expectations of additional rate hikes in 2024, placing some pressure on the yen. Furthermore, the prevailing positive sentiment towards risk factors is eroding the JPY's status as a safe haven currency. This, coupled with the emergence of some US dollar (USD) buying, is providing support for the USD/JPY pair near the mid-151.000 level. However, the recent verbal intervention by the Japanese authorities is helping to prevent a significant drop in the JPY and limit the currency pair's decline. In light of the upcoming general election in Japan on Sunday, traders are monitoring the release of macroeconomic data from the US for short-term momentum amid ongoing political uncertainty. Trade recommendation: We follow the level of 152.000, when fixing above it we consider Buy positions, when rebounding we consider Sell positions.
by Fresh-Forexcast2004
"Trading Confluences Explained: Daily Highs, Engulfing Patterns,I break down the key confluences used by professional traders to make high-probability trades. Learn how to leverage Daily Highs/Lows, spot Pin Bars, recognize Engulfing Patterns, and understand Break of Structure to enhance your trading strategy. I'll also dive into Demand Zones, Fibonacci Retracements, and Trendline Analysis to show how these powerful tools can align for stronger trade entries. Plus, I cover an essential aspect of the market – Stop Loss Hunts – and how to avoid being caught by them, while setting up your stop losses intelligently.
Education
by AfaqKhan111
Alternative Risk Management Strategies (Taboo!)Professional and highly experienced traders who choose to trade without traditional stop-loss orders often adopt alternative risk management strategies that offer a ton of advantages. While this approach may not be suitable for all of you, it can be beneficial for those who have developed strong risk management skills and are capable of effectively managing their positions. I have been trading with a non-mainstream approach for over 10 years and would never, ever... ever go back to using traditional stop losses. My net gains generation did not start moving in the right direction until I made the change. Here are my thoughts, but take note that there ARE emergency stops placed at the portfolio level at key thresholds regardless of individual asset management plans. 1️⃣ Flexibility in Position Sizing: Without a fixed stop-loss level, I have the flexibility to adjust my position sizes based on market conditions and their risk tolerance. This allows me to take advantage of favorable opportunities while limiting exposure during uncertain or volatile periods. Trading small positions within a single trade is the secret to scaling in. 2️⃣ Avoiding Stop Runs: I may prefer not to use traditional stop-loss orders to avoid getting stopped out during short-term market fluctuations or stop runs by large institutional players. By relying on your own risk management techniques, you can maintain control over your positions, especially if you have a well crafted plan to work out of the trade in the event that you are wrong. 3️⃣ Reducing Order Book Impact: Placing visible stop-loss orders can sometimes lead to order book impact, causing market movements that trigger these stops. I may choose alternative risk management methods to avoid contributing to such market moves and getting constantly stopped out regardless of a solid trade idea. 4️⃣ Long-Term Trading Perspective: I often adopt alternative risk management to take a more long-term view of my positions. I have a higher tolerance for short-term drawdowns because I believe in the long-term potential of my trades and I trust my ability to exit them. Having said that, I stick to my drawdown thresholds, which are part of my business plan. My entire portfolio rebalancing actions revolve around managing drawdown. So after trading small relative to equity, this is rule number 2. 5️⃣ Dynamic Risk Management: I can use dynamic risk management techniques, such as trailing stops or scaling out of positions, to protect profits and manage risk effectively. I place trailing in the money stops, take gains prior to target if needed when I spot something fishy and I can reload if I get a price improvement. Every trade... every position within a trade is treated individually too, with its own set of circumstances and conditions. 6️⃣ Selective Stop Placement: Rather than relying on fixed stop-loss levels, I may use critical support/resistance levels, technical indicators or simple sentiment bias to determine exit points, allowing for more selective and informed decisions. 7️⃣ Hedging and Damage Control Strategies: Advanced traders might employ hedging or options strategies to protect against adverse market movements, providing an alternative risk management approach. I use a methodology we call Damage Control, which allows for advanced management of positions and the portfolio as a whole using simple hedging, portfolio level hedging and rebalancing, advanced intra/inter asset hedging, net gains washing and much, much more. Trading without stops requires a deep understanding of risk management and a disciplined trading approach. It is a controversial subject on #fintwit (or is it #finX now) because the mainstream influencers preach stops as if they were the only way to trade. In my case, stop trading at the beginning of my career was the right thing to do as I was learning, but ended up being an impediment rather than an advantage and after having honed my skills over years of experience, I found alternative risk management strategies and a comprehensive business/trading plan the way to success. 10 years of it. 💡
Education
by AlexSoro
USDJPY with two probabilities for 10/24/2024USDJPY with a high probability to make the decision for 10/24/2024 ✅️ : 🔸️If the price exceeds the green bar 🟩, with the bar closing in the hour above: there will be a high chance of entering a purchase as indicated in the chart, respecting the day, news and the stop loss. 🔸️If the price exceeds the red bar 🟥, with the bar closing in the hour below: there will be a high chance of entering a sale as indicated in the chart, respecting the day, news, and the stop loss.
Short
by Abderrahmane_24
USDJPY Bullish Likely, but with potential short-term retracementThe overall structure of the USD/JPY pair is bullish, with strong support from the Ichimoku cloud, ascending trendlines, and bullish continuation patterns. The price is currently approaching a key resistance zone around 151.25 - 151.80. A break above this level would confirm the continuation of the uptrend, with targets around 152.00. If the price fails to break resistance, a retracement towards 150.28 or deeper towards 149.00 could offer buying opportunities in line with the overall bullish momentum.
Long
by Horazio
USD/JPY analysis - 22 Oct 2024150.45 acts as an important level today & if price stays above this level then we expect it to hit our target profit at 151.00. If price breaks below 150.45 then it should hit 149.9. Below is our recommendation; Trade 1 (Risk 0.5% of your account size); Buy USD/JPY @ 150.7 Stop Loss @ 150.45 Take Profit @ 151.00 Trade 2 (Risk 1% of your account size); Sell Stop USD/JPY @ 150.45 Stop Loss @ 150.7 Take Profit @ 149.9 *Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.
Long
by PalmTreeTradingUK
USD/JPY Technical Analysis: (READ DESCRIPTION)USD/JPY Technical Analysis: Bullish Momentum Expected Pivot Point: 150.45 The pivot point at 150.45 serves as a key level of support for USD/JPY. As long as the price holds above this level, bullish momentum is anticipated. Our Preference: Long Positions Recommended Trade: Long positions are favored as long as the price stays above the 150.45 pivot point. This sets up the potential for upward movement toward resistance levels. Target Levels for Upside Movement: First Target: 151.10 This is the immediate resistance level where traders may take profits or evaluate a continuation of the bullish momentum. Second Target: 151.60 If the first target is surpassed, the pair could extend its gains toward the 151.60 level, signaling further bullish movement. Alternative Scenario: Downside Risks If the price falls below 150.45: Bearish Outlook: First Target: 150.10 Second Target: 149.70 These levels represent potential support zones in case of a bearish reversal. Technical Insights: RSI Indicator: The RSI is mixed but leans bullish, suggesting the potential for further upside if momentum builds. Traders should keep an eye on this indicator for confirmation of a stronger move.
by CharivapaAlgo