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U.S. Dollar / Japanese Yen

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USDJPY trade ideas

USDJPY InsightHello to all subscribers! Please share your personal opinions in the comments. Don’t forget to like and subscribe. Summary of Major Issues - Mimura, Japan’s Vice Minister of Finance, commented, "The yen’s movements are somewhat one-sided and rapid. Japanese authorities are closely monitoring foreign exchange movements, including speculative moves by foreign capital." - The People’s Bank of China lowered the one-year and five-year Loan Prime Rates by 25 basis points each. - Lorie Logan, President of the Dallas Federal Reserve, expressed support for a gradual rate cut. - Former President Trump is predicted to have a 52% chance of winning the U.S. presidential election, and the U.S. 10-year Treasury yield has risen by more than 10 basis points. - Over the weekend, Israeli Prime Minister Netanyahu was targeted in a drone attack. Summary of Key Economic Indicators - October 22: BoJ Core CPI - October 24: U.S. Initial Jobless Claims, Services PMI USDJPY Trend Analysis The dollar has shown a sharp rise, leading to an upward trend in the USDJPY pair. As former President Trump’s chances of winning the U.S. election increase, the dollar’s strength has gained more momentum, with the U.S. election likely to remain a key factor moving forward. Currently, the chart shows resistance for USDJPY around the 152 line, with a potential drop toward the 140 line. However, as a clear trend has yet to form, we will need to observe further before making a final judgment on the direction. If there is any movement that diverges from expectations, we will revise the strategy accordingly.
Short
by shawntime_academy
USD/JPY: Japan’s Snap Election Opportunities Japan is holding a snap election this Sunday, triggered by a scandal within the ruling Liberal Democratic Party (LDP), despite a general election not being due until late 2025. The LDP, which has dominated Japanese politics for all but four of the last 65 years, has seen its popularity plummet. In June, its poll numbers hit their lowest point this century. While some polls predict the party could cling to its majority, bolstered by a fragmented opposition, fresh data from the Nikkei suggests a different outcome. The business daily warns that the LDP may fall short of securing a majority, a result that could lead to political upheaval not seen since 2009. Pullbacks in USD/JPY have been lessening since early October, and after clearing the 150.00 mark, the next targets for the bulls may be the 200-Day Moving Average and the range between 150.90 and 151.10. Amid a snap election, 152.00 is also a possible target. If the pair experiences another pullback, traders might consider a mid-point of current price action as a potential resistance level.
by BlackBull_Markets
Sellers Bruised As USDJPY Continues To Soar HigherOANDA:USDJPY Check my previous Idea on USDJPY and see if you can find something unique about trading alongside the traders best friend; the trend. I am not that experienced, no not with just 3 years in the system, but I keep asking myself and other traders one simple question... What will you do when a pair is buying? Sell the pullback and expect it to break through the last support of the trend? Wow, just wow. Cause when I went through the latest idea on USDJPY I saw traders making this same mistake of thinking the market is overbought, so it's time we start forcing it to respect our analysis. Here, I think those that know the trend and trade alongside it, "shall be strong and do exploit," just by adding it a little and simple confluence, which will determine the right spot for an entry, to avoid being taken out with the liquidity sweep. Because a wise man once said, "If you can't find the liquidity, then you're the liquidity." What's your thought on the solution to this mistake traders are making, that is eating up our portfolio?
by Samchi01
1
USD/JPY (READ DESCRIPTION) USD/JPY Pivot Point: 149.55 The pivot at 149.55 serves as a critical support level, signaling the potential for upward movement if the price holds above this point. Our Preference: Long Positions Recommended Trade: Long positions are favored as long as the price stays above 149.55, suggesting a potential for further upward movement. Target Levels for Upside Movement: First Target: 150.15 This level acts as an initial resistance point, where traders may evaluate profit-taking or further bullish potential. Second Target: 150.30 If the first resistance level is breached, USD/JPY could extend gains toward 150.30, indicating continued bullish momentum. Alternative Scenario: Downside Risks If the price drops below 149.55: Bearish Outlook: First Target: 149.35 Second Target: 149.10 These levels serve as potential support zones if a bearish reversal occurs. Technical Insights: RSI (Relative Strength Index): The break above 149.55 indicates a positive signal, with the RSI supporting further upside movement, reflecting increased buying interest. Support and Resistance Levels: As long as 149.55 holds as a key support level, the likelihood of continued bullish movement remains high. Momentum Indicators: The overall price action shows an upward trend, and momentum indicators such as MACD may confirm the potential for further gains.
by CharivapaAlgo
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