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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
USD/JPY H4 | Potential RSI Bearish DivergenceUSD/JPY is rising towards a swing-high resistance and could potentially reverse off this level to drop lower. Sell entry is at 149.27 which is a swing-high resistance. Stop loss is at 151.00 which is a level that sits above the 50.0% Fibonacci retracement level and a pullback resistance. Take profit is at 147.17 which is a pullback support that aligns with the 23.6% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
Don't miss the great SEE Opportunity in USDJPYUSD/JPY 4-hour chart you provided: Resistance Zone: The price is testing a major resistance level near the 150.00 region, marked by the red zone. This level has been tested previously and acted as a strong resistance, leading to price rejection. Potential Breakout: If the price breaks above this 150.00 zone, there is potential for an upward continuation toward the 150.90 area, as indicated by the gray box. Support Levels: The nearest support is around 147.25, with a smaller support zone slightly below the current price at 148.00. A break below 147.25 could signal a shift in momentum to the downside, targeting lower support levels. Trend Analysis: The pair recently broke out of a symmetrical triangle, indicating a potential continuation of the bullish trend. The upward momentum from this breakout could push the price higher if it sustains above key levels. Outlook: A close above 150.00 could trigger a bullish continuation, with targets near 150.90. If the price is rejected again at this resistance, we might see a retracement toward 148.00 or even 147.25.
Short
by forexcitysignal
Could price reverse from here?USD/JPY is rising towards the resistance level which is an overlap resistance that aligns with the 161.8% Fibonacci extension and could reverse from this level to our take profit. Entry: 140.43 Why we like it: There is an overlap resistance level that aligns with the 161.8% Fibonacci extension. Stop loss: 150.90 Why we like it: There is a pullback resistance level. Take profit: 147.15 Why we like it: There is an overlap support 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.
Short
by VantageMarkets
USD/JPY eyes break of 150 and 200-day MA retestThe recovery from 140 has been nothing short of impressive. The daily RSI is confirming the rising prices on the daily chart, and momentum suggests USD/JPY wants to head for the 200-day MA around the 151 handle. There are some concerns that that inflation could pick up due to the hot NFP report, so we may find that pre-emptive bets prompt a break of the August high to bring 150 into focus. Even if prices retrace lower first, dips are preferred and the bias is for an eventual move to 151.
Long
by CityIndex
Yen Ain't Seen Nothin' Yet: USD on the Climb!Alright y’all, let’s get into the USD/JPY analysis. As you can see, we’re currently sitting at around the 149.30 level after testing the daily resistance near 149.30 (marked by the white horizontal line). Looking back on the higher timeframe (the daily chart), the price has been trending up recently, respecting that yellow 21-period EMA, which shows us the bulls are still in control. Now, peep this: the weekly resistance sits at 150.81, so if we get enough bullish momentum, that’s the next target to look out for. On the flip side, we have a couple of support levels to consider on the downside, with the daily support around 147.93 and another at 147.28. These zones can act as our entry points if the price pulls back for a retest. What I’m eyeing here is a potential break above the daily resistance, and if that happens, it’ll be a solid signal to go long towards the weekly resistance at 150.81, and maybe even 151.75 if we get that extra push. But, if price breaks below the trendline and pulls back toward support around 147.93, we might see a reversal. Keep those levels tight and watch for confirmations before jumping in! Let’s see how this plays out. Always remember to manage your risk!
by SheenaL
BUY USDJPY uptrend continuation STOP LOSS : 148.308BUY USDJPY uptrend continuation STOP LOSS : 148.308 There is a strong trend on the daily time frame and all that have happened in the past days was just consolidation ( or trend pull back before continuation) ..... The daily time frame is showing strength continuation from this level of support and resistance so we are looking for the trend to push forward from here ..... TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
Long
by BALE_FX
Trade Recap: USDJPY - LONG, 09/10/2024UJ Bias Analysis: Price had begun distributing higher on the 4H & 1H TF's following a pullback into the 4H, 1-sided Fair Value Gap, so Resistance entries were in consideration given we were pulling back higher into premium on the 1D TF. I opted for the conservative entry after a 15M TBL sweep into a 15M Breaker Block once entry confirmation was received. Grade: High Quality Valid What I did well or could've done better: - I Forecasted multiple possible entry points and opted for a conservative but riskier entry from a shallow protraction point which ended up being where price distributed from.
Long
by The_Modern_Day_Trader