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USDJPY | Perspective for the new week | Follow-upAfter an 8-week break from USD/JPY, I’m excited to bring it back to our watchlist as we prepare for next week’s trading! Over the past 9 months, this pair has experienced major shifts—from early-year expectations of Japan's monetary policy changes to the dollar's surge mid-year and the USD/JPY oscillating around the 150 zone in October. Key drivers include Japan's inflation data, with the latest CPI rising 2.5% YoY in September. As market rumours of another intervention grow, what opportunities lie ahead? Let's explore the key levels, trends, and setups for the coming week. USDJPY Technical Analysis: As discussed in the video, the recent upward momentum is showing signs of easing, leaving room for a possible USD pullback. However, for a confirmed uptrend continuation, we need to see sustained trading above 150.000. Our detailed technical analysis focused on the current bullish market structure, with particular attention to the key level of 150.000, set as a pivotal point for the upcoming week. This level gains significance as a potential catalyst for a clear uptrend if buying pressure persists. The market's response to this level at the beginning of the new week will strongly influence the direction of price action in the days ahead. #JapanInflation #USDJPY #Yen #BoJ #FederalReserve #Forex #CurrencyTrading #EconomicAnalysis #MarketAnalysis #Investing #Finance
by darcsherry
10/25 ! USD JPY ! touch trend set up SELL USD/ JPY trend forecast October 25, 2024 The Japanese Yen (JPY) failed to build on Thursday’s recovery and faced renewed selling pressure during Friday's Asian session. Japan's business activity data for October showed a contraction in both manufacturing and services sectors. Additionally, a drop in Tokyo’s core inflation below the Bank of Japan’s (BoJ) 2% target lowered expectations for further rate hikes in 2024, weighing on the JPY. A positive market sentiment and US Dollar (USD) buying also supported the USD/JPY pair around the mid-151.00s. However, verbal intervention by Japanese authorities helped limit further JPY losses. Traders now await US economic data for short-term direction amid political uncertainty before Japan’s general election on Sunday. H1 frame shows the price zone is adjusting - touching the trendline, continuing to adjust down /// SELL USDJPY : zone 151.850 - 152.050 SL: 152.500 TP: 50 - 100 - 250 pips (149.550) Safe and profitable trading
Short
by Moon-ForexAcademy
2
USDJPY RETEST COMPLETE?Interest Rate Differentials: If the U.S. Federal Reserve raises interest rates or signals a more hawkish stance compared to the Bank of Japan (BoJ), the U.S. dollar (USD) may strengthen against the Japanese yen (JPY) as investors seek higher returns in USD-denominated assets. Economic Data: Positive economic indicators from the U.S., such as strong GDP growth, low unemployment, or robust consumer spending, can boost confidence in the USD, making it more attractive compared to the JPY. Safe Haven Flows: While the JPY is traditionally a safe-haven currency, during periods of global economic uncertainty, if investors perceive the U.S. economy as more stable, they may favor the USD. Market Sentiment: Bullish sentiment in equity markets can lead to risk-taking behavior, prompting investors to move away from safe havens like the JPY and into riskier assets, further supporting the USD. Geopolitical Factors: Political stability in the U.S. compared to Japan, or significant geopolitical events, can also influence currency strength, pushing traders to favor the USD. Overall, a combination of these factors can contribute to a bullish outlook for USD/JPY.
Long
by MarshallJay
2
IS JAPANESE YEN COMING STRONGER IN FUTURE? -ELLIOT WAVE ANALYSISAs we see the price has completed its recent cycle on 3 July, 2024. It is now in a major correction where the wave 'A' is already formed. Now the price is forming the wave 'B' and its minimum destination is 61.80% After completing the wave 'B', price will lead the wave 'C' which will be a downward impulse which can move the price toward 130 zone. The more days are passing by, selling opportunity is emerging. So be patience and enter into the market with confident.
by mamnunamalik
USD/JPY analysis - 24 Oct 2024152.3 acts as an important level today & if price stays below this level then we expect it to hit our target profit at 151.8. If price breaks above 152.3 then it should hit 152.93. Below is our recommendation; Trade 1 (Risk 0.5% of your account size); Sell USD/JPY @ 152.1 Stop Loss @ 152.3 Take Profit @ 151.8 Trade 2 (Risk 1% of your account size); Buy Stop USD/JPY @ 152.3 Stop Loss @ 152.1 Take Profit @ 152.93 *Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.
Short
by PalmTreeTradingUK
USD/JPY Strengthens Due to High U.S. Bond YieldsThe technical analysis of USD/JPY on October 23 shows a strong upward trend. Currently, the pair is trading around 152.692 after breaking the 150.489 support level, paving the way for a potential rise to 155. The EMA 34 and 89 lines provide solid support, while the MACD indicator suggests strong upward momentum. A short-term correction may occur before further gains. On the news front, USD/JPY is boosted by high U.S. bond yields and expectations that the Fed will maintain stable rates, while the Bank of Japan continues its loose monetary policy.
by Zola_Hello
Could USD/JPY see a reversal soon?The USD/JPY pair has shown a strong upward movement over the past four weeks, rising from 140 after reaching a low of 135. While this appears to be a corrective wave, it is anticipated that the pair could continue its ascent towards a potential peak in the range of 152.8 to 155. However, after reaching these levels, a gradual decline is expected, with a potential target of 126 within the next six months. It is important to highlight the elevated risks associated with this outlook, particularly due to the upcoming U.S. elections. A potential victory by Donald Trump may lead to a bearish shift in the USD/JPY pair, as market sentiment could react negatively to his anticipated economic policies. Additionally, geopolitical tensions remain a significant factor, adding further volatility and increasing the likelihood of a reversal in the current trend.
Short
by zakarya97z
1
USDJPY moves sideways on positive conditionsAs the US presidential election is approaching, uncertainties will become the main focus of the market. Signs that former President Donald Trump's chances of winning the November election are increasing could contribute to the dollar's overall performance. can keep US interest rates high, thus increasing the appeal of the USD. In the short term, the Bank of Japan's policy statement on October 31 is a notable factor in the near term for USD/JPY and the Bank of Japan's clear attitude towards the adjustment should be observed. On the daily chart, OANDA:USDJPY continues to move sideways but in terms of the overall picture, the possibility of price increases still prevails. The main uptrend is noted by the price channel with key support at EMA21, and as long as USD/JPY remains above EMA21 and within the price channel, it still has a technical upside prospect in the near term. On the other hand, once USD/JPY breaks the confluence of the upper channel edge along with the 0.50% Fibonacci retracement level it will have room to continue rising with a target then around 151.866 in the short term, more than Fibonacci level 0.618%. The relative strength index is flat above 50 but has not yet reached the overbought area, showing that there is still room for price growth ahead. The general assessment, trend and outlook of USD/JPY is technically bullish and notable levels will be listed as follows. Support: 149.364 – 148.823 – 148.113 Resistance: 150,739 – 151,866
by Xayah_trading
Bearish reversal?USD/JPY is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support level which acts as a pullback support. Pivot: 152.59 1st Support: 150.36 1st Resistance: 154.71 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.
Short
by ICmarkets
USDJPY_maintains a steady uptrend OANDA:USDJPY Similarly, I analyze and trade the current flow or what you can also call the current price action, looking at the 1D Timeframe you can notice a strong buy momentum, creating new structures and leaving gaps behind to be mitigated or filled, once that is achieved by a pullback, USDJPY will irresistibly continue the rally to make a new higher high. Sit back and watch, or do your own research and join the flow. If I may ask, what would you have done currently, considering the latest steady movement, Buy or Sell?
Long
by Samchi01
1
USD/JPY Technical Outlook - Multiple bearish signals on indicato🚨 USD/JPY Technical Outlook 🚨 - Price nearing a key resistance at 152.00 📊 - Possible rejection could send the pair lower to: - 145.54 📉 - 139.71 📉 - 131.98 🛑 (Major support) Multiple bearish signals on indicators 📉—reversal might be ahead! Watch closely for potential short setups. #forex #USDJPY #technicalanalysis #forextrading #tradingview #bearish #forexsignals --- USD/JPY Weekly Chart Analysis: - The pair is currently at a critical level near 152.00. - Key resistance at 152.00 could lead to a rejection, with downside targets at: - 145.54 (first target) - 139.71 (second target) - 131.98 (long-term support) - Indicators show multiple bearish signals, suggesting potential reversals. Stay cautious of volatility around these levels. #forex #USDJPY #technicalanalysis #trading #forexsignals ---
Short
by profitoptionnew
#USDJPY #H4 #USDJPY #H4 Update 💹 After tapping into our suggested zone, price has made a strong recovery of over 150 pips! 🚀 🔍 What I'm anticipating next: There’s a chance price could revisit the same demand zone again. If we see rejection from this area (148.90-148.35), it could present another great opportunity to re-enter for a buy. However, keep in mind that this zone has already been tested twice. ⚠️ If this time the zone fails to hold and we get a confirmed bearish H4 candle close, we could see a significant sell-off in #USDJPY till 146 🔻 #StayVigilant #TradeCarefully #TechnicalAnalysis
by MrKTechnicalLevels
1
USDJPY looking bullish on 1HThe pair is showing strong bullish momentum following a break and successful retest of our 1H level. We plan to enter a buy position around 151.894, aiming for a target level of 153.026. Stop-loss orders should be set at 151.468 to manage risk effectively. This trade setup offers a risk-to-reward ratio of 1:2.65, presenting a favorable opportunity. As always, trade responsibly and ensure that this position aligns with your individual trading strategy.
Long
by TeptForex