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Bullish Bias Supported by Key Market Factors on 04/10/2024 on UJUSD/JPY Analysis: Bullish Bias Supported by Key Market Factors on 04/10/2024 Today, USD/JPY shows potential for a slightly bullish bias due to a confluence of fundamental factors driving USD strength against the Japanese yen. Key drivers, including strong US economic data, a hawkish Federal Reserve stance, and the Bank of Japan’s accommodative policy, are reinforcing positive sentiment around USD/JPY. This article outlines the factors that could support the USD/JPY bullish outlook in today’s trading session, helping traders anticipate potential market movements and leverage these insights in their strategies. 1. Strong US Economic Data Boosts Dollar Demand The US economy has shown resilience with recent data releases indicating solid growth. Reports on employment, consumer spending, and manufacturing output have exceeded expectations, showcasing sustained economic strength. These data points are bolstering demand for the USD, with traders positioning themselves for potential further gains in USD/JPY. The strong economic indicators align with the Federal Reserve’s hawkish stance and reinforce USD appeal. 2. Federal Reserve’s Hawkish Policy Outlook The Federal Reserve has maintained a hawkish outlook, with officials signaling a commitment to higher interest rates to curb inflation. This stance increases the yield differential between the US dollar and the Japanese yen, as Japan’s Bank of Japan maintains its ultra-low interest rate policy. With a higher expected return on USD holdings, USD/JPY sees further upward pressure, attracting buyers and reinforcing a bullish perspective. 3. Dovish Bank of Japan Policy Limits Yen Appeal The Bank of Japan (BoJ) has retained its dovish policy stance, focusing on stimulus and maintaining low interest rates to encourage economic growth. This stance contrasts starkly with the Federal Reserve's hawkish approach, which benefits the USD/JPY pair. With the BoJ’s commitment to accommodative measures, the yen’s appeal remains limited, creating favorable conditions for a bullish USD/JPY outlook today. 4. Technical Analysis Suggests Upward Momentum Technical indicators align with the fundamentals, signaling a possible continuation of upward momentum for USD/JPY. The currency pair has recently tested and bounced off significant support levels, with indicators such as the Relative Strength Index (RSI) and moving averages suggesting bullish momentum. With USD/JPY trading above key moving averages, the technical setup points towards further bullish potential in the near term. Conclusion: Bullish Bias for USD/JPY on 04/10/2024 Given today’s USD/JPY analysis, the factors of a strong US economy, the Fed's hawkish outlook, the Bank of Japan's dovish stance, and supporting technical indicators create a bullish bias for the pair. Traders should monitor these factors closely as they continue to influence USD/JPY dynamics throughout the trading session. Keywords: USD/JPY analysis, bullish bias, US dollar strength, Japanese yen, Federal Reserve hawkish policy, Bank of Japan dovish stance, USD/JPY technical analysis, forex market, USD/JPY trading insights, USD/JPY bullish trend, USD/JPY 04/10/2024.
Long
by PERFECT_MFG
USDJPY: Back to Uptrend?Hello everyone, Currently, USDJPY continues its strong upward momentum, trading steadily around the high level of 146.70, up 0.19% on the day. From a technical analysis perspective, USDJPY is forming an Elliott Wave 5 pattern, with the first three waves already completed (currently in wave 4). Ben expects the support level around 145.77, aligning with the 0.618 Fibonacci retracement of the previous upward move, to hold, with the next target being the psychological level of 149.22. What about you? Where do you think USDJPY will gain strength next? Share your thoughts!
Long
by Bentradegold
1
USDJPY (H4) - Probable Next Move.Trade Reason: 1. Weekly Down Trend. 2. H4 Strong Order Block Aria. 3. H4 Strong Bearish Close. 4. Upper H4 EMA20 Level. Hello Friends! I hope it will touch the "146.169" level then it can make some corrections. After her correction, it has more chances to touch the "145.352" level. But if it create counter setup, then close it instant. Do you have any questions, suggestions, or feedback? Then write a comment or private chat. If you need any help, info, or analysis. Then knock me without any hesitation. …Thank you…
by LearningForexB2
3
USDJPY (H1) - Probable Next Move.Trade Reason: 1. Weekly Down Trend. 2. H4 Order Block Aria. 3. H1 Strong Rejection. Hello Friends! I hope it will touch the "146.169" level then it can make some corrections. After her correction, it has more chances to touch the "144.942" level. But if it create counter setup, then close it instant. Do you have any questions, suggestions, or feedback? Then write a comment or private chat. If you need any help, info, or analysis. Then knock me without any hesitation. …Thank you…
Short
by LearningForexB2
1
[USD/JPY] Decades of relationship: A historyOne of the thing that I love about trading is how we can look at the price history. Since this week the TVC:DXY seems gaining momentum (at least in short term), I just think it would be interesting to see the history of relationship between FX:USDJPY as this pair currently possibly pivoting its trend. This is FX:USDJPY weekly chart, goes back to 2001. Since 2001, there are 2 major eras: the era where JPY is strong & the era where USD is strong. Both eras share similar timespan, a decade (10 years or so). If the history rhyme, we might now seeing the change of an era, possibly towards the JPY era. For next 10 years ? I don't really know as today's market is much more complex than even 3 years ago. Nevertheless, current trend is indeed changing. If we look at the current chart, we can see the MACD divergence happened just before the drop in USD value. It's interesting to see how this setup have happened many times in the past 20 years: 2 peaks, MACD divergence, then USD drop. The drop are varied off course, so interesting to see how this time it will played out. There is a sensible explanation for this though & it's quite simple: FED is cutting rates, while BOJ ends its negative rate regime, hence narrowing yield between JPY & USD, make keeping the JPY in Japan more attractive, or at least less risky. Cherio...
Short
by moressay
"Mastering Trend Trading: Strategies for Consistent Profits"Trading with the trend is one of the most reliable strategies to maximize your profits while minimizing risk. The trend represents the general direction the market is moving—whether up (bullish) or down (bearish). By identifying and following the trend, you can enter trades with higher probabilities of success Don't rush into a trade. Wait for the trend to be confirmed. For instance, in a bullish trend, you want to see a bullish candle close above your moving averages with no lower shadow (or wick). In a bearish trend, wait for a bearish candle to close below the moving averages with no upper shadow.
by dominicdrock
USDJPY on 4 HourPrice has reached a key area of resistance looking left, where a powerful movement has previously occured. Price has formed 2 rejections at the zone currently, displaying a spinning top indecision candlestick, and is currently in a consolidation triangle on the lower timeframe. Looking for one last rejection to occur at resistance for a high Reward / Risk ratio setup, or a breakdown of the triangle pattern on the lower timeframe for confirmation that sellers are ready to push price lower again.
by Profound_Ambition
USDJPY still has more downside on daily & weekly tfStructurally I'm looking for rejection at 147-149.8 range. Look for renewed selling action below 144 to confirm. Still seeing additional unwinding of the yen carry trade as highly likely over subsequent days & weeks. Targeting 136, 131, and 126 handles on weekly structure as we approach Q1 of 2025. Particularly as the US Federal Reserve is pressured to cut rates further with recent data. Entering short positions gradually but the majority is already in place.
by DaveTradesLive
USDJPY 4H Short selling USDJPY 4H Short selling Directly enter the short market near the current price of USDJPY at 146.60,with a stop loss level at 148.400. Volume distribution+price trading behavior rectangular oscillation+harmonic pattern+support resistance level+Bearish Pinbar=short selling The first target is to look around 143.746,reduce the size of the warehouse by half,and promote protection. Look around 140.260 for the second target position,then halve the warehouse and push for protection. If the price does not hit a new low, look for opportunities to go long in reverse.
Short
by Jasmine-Flower
1
USDJPY Analysis Today: Technical and Order Flow !In this video I will be sharing my USDJPY analysis today, by providing my complete technical and order flow analysis, so you can watch it to possibly improve your forex trading skillset. The video is structured in 3 parts, first I will be performing my complete technical analysis, then I will be moving to the COT data analysis, so how the big payers in market are moving their orders, and to do this I will be using my customized proprietary software and then I will be putting together these two different types of analysis.
by Transparent_Fx_Analysis
YEN/USD short, USD long and making milkshake.Japan is stuck in a debt trap. Shorting the YEN/USD: Milkshake and Carry Trade going hyperpolic The Bank of Japan (BOJ) announced the end of its interest rate hiking cycle on September 20, 2024. This decision was made to stabilize the economy and prevent further market disruptions. The BOJ had to stop increasing rates at 25 basis points, or 0.25%. They can’t go higher to "normalize" their interest rates. Japan is stuck as a carry trade slave. Foreign investors borrow in Yen at low rates, convert the money into USD, and buy US Treasuries or other riskier assets with higher returns. A weakening Yen increases the weight of their foreign debt. Japan has the highest debt-to-GDP ratio at 261%, higher even than Venezuela which is at 240%. This is why the BOJ was trying to "normalize" its central bank interest rate, increasing it from the decimal 0.05% level. However, the BOJ announced on September 20, 2024, that they can’t go higher than 0.25% as this is bringing in too much inflation. So, in a nutshell, the BOJ can’t use its central bank rate to control inflation. Japan is stuck in a major debt crisis, and by trying to increase its interest rate for the first time in 17 years, it has exposed its central weakness. This is why foreign predatory investors and traders are going to exploit it at hyperbolic levels. The Dollar Milkshake Theory is in full effect here. It is no longer a "theory. The Yen Carry Trade hyperbolic mode has started. The US Dollar Milkshake on behalf of the Yen is ramping up fast. Operation Milkshake is a go! 😂 The Japanese are stuck in a deadly debt cycle. The situation is dire! OMS P.S. On SOFR, its spread over the Funds Rate is spiking and the highest outliers of the SOFR average rate are suggesting increasing counterparty risk on top of the elevated overall risk. Watching this like a hawk.
Short
by Operation_Morning_Star
THREE AREAS TO POTENTIALLY BUY FROMUSD/JPY 4H - As you can see price has left without us, failing to trade down and into the two zones I had marked out below, instead price swept just above before taking its next hike. I dont want to miss the next bull-run and I believe price will have to come down and into the last sell to buy region we have here on the 4H timeframe, all I have done is gone ahead and refined the area slightly for us. I have marked out the hidden order block that lays in the same area as the last sell to buy region. I would like for price to clear this inefficient structure, pick up more demand and take off to the upside. We could look to short this market before we go long, but with it being a prevailing bullish trend as we know that is going to be somewhat risky, so its important that if we do go short we wait for confirmation first.
Long
by Lukegforex
USDJPY BUY | Idea Trading AnalysisUSDJPY is falling towards a support level which is a pullback support and could bounce from this level to our take profit. We expect a decline in the channel after testing the current level which suggests that the price will continue to rise Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great BUY opportunity USDJPY I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Long
by TheGrove
7