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USDJPY.P trade ideas

Inverse Head & Shoulders Pattern Signals Bullish Breakout Ahead!Current Price: 141.683 Currency Pair: USDJPY Time Frame : 1H This USD/JPY 1-hour chart shows a clear Inverse Head and Shoulders pattern, indicating a potential bullish reversal. The neckline at 141.014 has been broken, and price is now in a retest zone. A successful bounce from this area could drive the price toward the next target at 143.724, aligning with key resistance. The RSI at 58.75 suggests room for further upward movement without being overbought. However, if the retest fails, it could be due to a weak bullish momentum or increased selling pressure, pushing the price below the neckline and invalidating the reversal. In this case, the next significant support level is at 139.675. Despite this risk, the bullish scenario remains more likely.
by SpicyPips
3
UsdJpyUJ has been in a bearish range. There was a lower low on the 4hr time frame at 141.962. Price continued its bearish trend below the lower low before breaking back above that level. Not only is price above the level but price has also broken structure giving an opportunity to possibly go long. If price can give me confirmations to go long we could expect price to make its way back up to 149.000. That's far up out of our reach at the moment so I'll be taking advantage of long opportunities if all goes well.
Long
by OfficialJ23
TechnicaL Analysis – Potential Reversal After 70 Days of USDJPYAfter 70 days since reaching the highest price in the last 38 years and a sharp rejection, the market continued to exhibit a strong bearish trend. However, we are beginning to see early signs of a potential reversal, and the daily bullish divergence supports the idea of a pullback and possible recovery. Nevertheless, key levels need to be broken for this scenario to be confirmed. Key Support Level at $141.93 One of the most critical levels to watch closely is $141.93. Holding above this level could indicate a trend reversal, while a failure to hold may signal the continuation of the bearish trend. If the price can maintain above this level, it could pave the way for a significant pullback. Breakout of the Key Resistance at $143 The first key resistance level that needs to be breached is $143. If the price breaks this level, it’s essential to hold above it for at least two days, followed by a successful retest to confirm the S/R flip (support/resistance flip). This would provide a clear signal to enter the market, potentially leading to further upside movement. Daily Bullish Divergence as an Additional Signal Moreover, we observe a daily bullish divergence – a situation where the price is making lower lows, but the RSI indicator is making higher lows. This pattern indicates a weakening bearish trend and strengthens the possibility of an upward reversal. Pullback to the Trendline and Fibonacci Confluence If the resistance at $143 is broken, the next expected step could be a pullback towards the main trendline. This area may coincide with the 0.5 Fibonacci retracement level, creating a confluence of resistance and support. This zone would be crucial for confirming a continuation of the bullish movement. Potential Drop in Case of Rejection However, if the resistance at $143 is not broken and the price gets rejected, it would not be surprising to see a direct drop towards the support zone between $134-$130. This drop could provide a new buying opportunity if buyers return in this zone, but it could also indicate further weakness if the support fails to hold. Disclaimer: This analysis is provided for educational purposes only and reflects my personal view of the market. I am not a financial advisor, and anyone considering trading or investing should conduct their own analysis or consult with a licensed financial advisor before making any decisions. Trading carries significant risk, and each individual is responsible for their actions in the market.
by RhinoAkaBear
USD/JPY at Support Ahead of FEDUSD/JPY rebounded off key support yesterday at 140.25-141.02 - a region defined by the December low, the 61.8% retracement of the 2023 advance, and the objective yearly open. Looking for a reaction off this mark with the Fed on tap later today. Initial resistance 143.31 backed by near-term bearish invalidation at 145.62-146.42 . A breach / close above this threshold would be needed to suggest a larger reversal is underway / more significant low is in place. A break below this key threshold would threaten downtrend resumption with subsequent support objectives eyed at 137.91 and 137.21 . Markets are pricing a greater than 60% chance of a 50bps cut- we'll be looking for some volatile here later today. Battle lines drawn. Michael Boutros @MBForex
by FOREXcom
USD/JPY heads to 140.00 ahead of the FOMC rate decisionUSD/JPY falls ahead of the Fed rate decision where the US central bank is expected to cut rates for the first time in 4 years. But by how much? The market prices in a 64% chance of a 50 bps cut. An outsized cut could send USD lower. USD/JPY trades below its falling trendline. It has recovered from the 2024 low of 139.60 but failed to rise above the 1000 SMA on the 4-hour chart and is once again below 141.70 the August low as sellers eye 140.00. A break below 140.00 would bring 137.60 the July 2023 low as the next level to watch. Should buyers extend gains above the falling trendline and 100 SMA at 143 – 143.50, a move towards the 200 SMA at 145.00 could be on the cards
Short
by FOREXcom
DeGRAM | USDJPY broke out of the descending channelUSDJPY is moving between trend lines above the descending channel. The descending structure is still intact and has not been broken yet. The price has already reached the lower trend line and 50% retracement level and formed a bullish takeover afterwards. We expect growth after consolidation above the resistance level. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Long
by DeGRAM
10
Live Trading Recap: USD/JPY Correction Phase TradeThis is a live execution of USD/JPY trade, demonstrating how to successfully execute a counter-trend strategy. This trade was all about understanding the market phases and recognizing the trend reversal at the right moment. To pull off a counter-trend trade, you need more than just technical skills—you need a solid grasp of trading psychology. Staying patient, trusting your analysis, and managing emotions during market swings are key to making informed decisions. Watch the video to see how I combined these elements to turn this trade into a win. Let me know your thoughts in the comments!
by Charts247TradingAcademy
Fundamental Market Analysis for September 18, 2024 USDJPYEvent to pay attention to today: 15:30 GMT+3. USD - FOMC Rate Decision USDJPY: The USD/JPY pair saw a fresh wave of selling during the Asian session on Wednesday, with the pair dropping below 142.000 in the last hour. This reversed some of the gains made overnight and paused the recovery from the lowest level since July 2023, which was reached earlier in the week. Meanwhile, fundamental analysis indicates that the most probable outcome for spot prices is a decline, although market participants may exercise caution in placing aggressive wagers ahead of pivotal central bank events. The Federal Reserve (Fed) will announce its decision following its two-day meeting on Wednesday, with expectations that it will commence its policy easing cycle. The market will then turn its attention to the Bank of Japan's (BoJ) policy update on Friday, which will play a pivotal role in influencing the Japanese Yen (JPY) and provide fresh impetus to the USD/JPY pair. Meanwhile, cautious market sentiment and diverging expectations of future policy from the Fed and BoJ are driving safe-haven flows towards the JPY, exerting downward pressure on the USD/JPY. The market is pricing in the likelihood of a 50 basis point interest rate cut by the Federal Reserve, amid signs of easing inflationary pressures. This has the effect of overshadowing Tuesday's better-than-expected US retail sales data, which is not helpful for the US dollar (USD) in consolidating an overnight rebound from the 2024 low. Conversely, recent indications from Bank of Japan officials point towards a further interest rate increase by the Japanese central bank before the end of the year. This has been a significant contributing factor to the recent relative rise in the Japanese Yen, which has helped to create a favourable tone around the USD/JPY pair. Meanwhile, the JPY bulls appeared to remain undaunted by Japan's trade data for August, which revealed a notable decline in both exports and imports. Official data indicates that Japan's exports have risen for the ninth consecutive month, with an increase of 5.6% year-on-year in August. However, this growth is occurring at a slower pace than anticipated. This was accompanied by a much smaller-than-expected 2.3% rise in imports, which had little impact on the underlying bullish sentiment around the Japanese Yen. This indicates that the outlook for the USD/JPY pair in the near term is negative and supports the likelihood of a continuation of the recent downtrend. Trade recommendation: Trading mainly by Sell orders from the current price level.
Short
by Fresh-Forexcast2004
USDJPY Technical Analysis and Trade Idea 👀👉 The USDJPY pair has been experiencing downward pressure recently. While there may be a potential selling opportunity, it would be prudent to wait for the FOMC meeting and Federal Reserve rate cut announcement later today before making any trading decisions. If the data release outcome suggests a weakening US dollar, it could present a favorable opportunity to sell the USD/JPY pair. Conversely, if the data supports USD strength, it might be wise to abandon the trade idea altogether, as taking a counter-trend position could be risky. Disclaimer: This analysis is based on current market conditions and available information. Forex trading carries significant risk, and market conditions can change rapidly. Always conduct your own research, consider your risk tolerance, and consult with a licensed financial advisor before making any trading decisions. Past performance does not guarantee future results. 📉✅
by tradingwithanthony
Outlook on USDJPYTechnical Perspective: USDJPY rebounded above the 140.00 psychological support, a low seen in December last year. However, the price remains under pressure, holding below the Ichimoku cloud and 143.00 resistance. If USDJPY sustains its bearish momentum with a reversal below 143.00, a further decline to retest the 140.00 support and descending channel's lower bound might occur. Meanwhile, a break below 140.00 could prompt further weakness, with 137.00 as the next potential support. Conversely, if USDJPY breaks above 143.00, a further rise toward the channel's upper bound and 61.8% Fibonacci retracement near 144.50 might occur. Fundamental Perspective: U.S. retail sales unexpectedly rose by 0.1% in August, defying forecasts of a 0.2% decline, leaving markets divided over a 25 or 50 basis point rate cut by the Fed. The Fed's communication could impact the yen's trajectory, as a dovish stance may lead to further USD/JPY weakness. The Japanese yen's recent rebound amid expectations of narrowing interest rate differentials raises concerns for Japanese exporters as it could erode export competitiveness. On Friday, the Bank of Japan is expected to maintain current rates in its meeting, but investors will be vigilant for any hints of future hikes. Additionally, Japan's export growth has slowed, particularly in shipments to the U.S., and a widening trade deficit presents challenges, even as the tech sector remains resilient. Analysis by: Li Xing Gan, Financial Markets Strategist at Exness
by lixing_gan
USD/JPY Price Analysis (1H)The price of USD/JPY is currently approaching a support level and could be setting up for a pullback. If it bounces off this support, we could see a potential upward move. However, if the support is broken, the next target could be the next support level Key scenarios to watch: If the price bounces back from the support, it may signal a reversal. If the price breaks out below the support, it could move toward the next support level. Let’s monitor closely and see how it develops!
by rebenga93
Bullish reversal?USD/JPY is falling towards the support level which is an overlap support that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 140.92 Why we like it: There is an overlap support level that lines up with the 50% Fibonacci retracement. Stop loss: 139.83 Why we like it: There is a pullback support level. Take profit: 142.72 Why we like it: There is an overlap resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets