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US Dollar vs Japanese Yen

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USDJPY.P trade ideas

Falling towards overlap support?USD/JPY is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance which acts as a pullback resistance. Pivot: 147.15 1st Support: 145.78 1st Resistance: 149.29 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
USD/JPY: The Big Zone is Almost Back in-PlayUSD/JPY has continued to rally after last month's false breakout at the 140.00 handle, which is part of a large zone of longer-term support spanning from 139.28 up to 140.30. I tracked that setup in these ideas, first with the support test itself: and then the initial bounce: and then the build of a falling wedge + the higher-low from the FOMC rate cut: and then a focus on higher-low support at 142.50 or 141.69, the latter of which held the low a few weeks ago before buyers pushed a major move in the pair: Now? USD/JPY is nearing a make-or-break point on the chart with the 150-151.95 zone. This is the same spot that caught the highs in the pair in Q4 of 2022 and 2023. It held the highs through Q1 trade until, eventually, an above-expected CPI print prodded a run on stops above that price followed by a bullish breakout to above the 160.00 handle. Now that level is almost back into play and it seems that there's not many bears left; much of what I'm seeing on social media seems tilted bullish despite the fact that the main driver behind the initial trend - the carry trade - is still widely-expected to begin going the other way. While US rate cut bets have been pushed out given a strong spate of recent data, they still persist for 2025 trade with a current probability of > 62% that the Fed cuts by at least 150 bps into the end of next year. That would imply another 50 bps this year, and 100 bps next year and 100 bps of cuts in a year is traditionally a strong cutting cycle. This, of course, would narrow the rate divergence in the pair, even if the Bank of Japan is not thinking of hiking rates and that could further nullify the attractiveness of long-side carry. So, while near-term price action remains bullish, the 150-151.95 zone presents an opportunity for those long-term carry traders to get out of the trade with a minimum of damage to the bigger-picture trend. Notably, the 50% mark of the sell-off is near the middle of that zone at 150.77. - js
by FOREXcom
USD/JPY October Market Analysis: Bearish Structure and Key Sell USD/JPY October Market Analysis and Trading Setup In the month of October, we are observing an open high-low-close structure on the USD/JPY, which strongly suggests the development of a potential sell setup. At this point, we are awaiting further confirmation through a TDI (Traders Dynamic Index) cross, which will signal the appropriate entry points for sell positions. Key Observations: 1. Bearish Divergence: Since August 16, 2024, there has been a clear bearish divergence, extending from that date to the current market high. 2. Daily Timeframe Structure: The open-high structure on the daily chart for October further strengthens the bearish outlook. 3. Overbought Conditions: The market appears significantly overbought, following a bullish breakout that began on October 1, 2024. 4. TDI Cross as Confirmation: A bearish cross in the TDI indicator will serve as confirmation of the presence of sellers, providing an essential signal for initiating sell positions. Targeted Take Profit Levels: - Take Profit 1: 147.500 - Take Profit 2: 146.500 - Take Profit 3: 145.500 - Take Profit 4: 144.500 Trading Advice: It is crucial to wait for valid signals, such as the TDI cross, to confirm entries before taking action. Always trade with caution, and ensure risk management strategies are in place to protect your capital. If you found this analysis helpful, please like, comment, and follow for more updates. I will gladly follow back. Wishing you success in your trades!
Short
by ezeepips
2
USD/JPY Chart Analysis: Bears May Take ControlUSD/JPY Chart Analysis: Bears May Take Control As shown in today’s USD/JPY chart, the US dollar has gained over 3.6% against the yen since the start of the month. Yesterday, the exchange rate surpassed the peak formed on 16 August around the 149.40 level, marking a 10-week high. The bullish sentiment towards the US dollar has been influenced by increased market confidence in the Federal Reserve’s patient approach to further monetary easing, as reported by Reuters. Can the USD/JPY rise continue? From a technical analysis perspective, bears have a chance to take control, as the rate is nearing a resistance zone formed by: → the upper boundary of the descending channel (shown in red); → the psychological level of 150 yen per dollar. Additional arguments supporting the potential for a bearish reversal include: → the price decline after briefly exceeding the 16 August peak (a possible false bullish breakout); → divergence on the RSI indicator. The release of the US CPI data today at 15:30 GMT+3 could serve as a catalyst for a bearish move. The resulting price action will provide traders with important insights on whether the market is nearing the end of an intermediate recovery (shown with blue lines) within the descending channel (shown in red). 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