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USDJPY trade ideas

USD/JPY 4H chart analysis, (Must read caption)...Hello trading view family what are your opinions about this share your thoughts in comment section and thanks for your support. This chart analysis made by me depicts the USD/JPY currency pair on a 4-hour timeframe, provided by OANDA. It shows an upward trending channel with price action respecting the channel's boundaries. Key details include: 1. Current Price Level: USD/JPY is trading around 157.520. 2. Channel Trend: The price has been moving within an ascending channel, with higher highs and higher lows. 3. Target Zone: A highlighted area above the current price suggests a target nearing 159.640. An arrow indicates the potential continuation of the bullish trend toward this level. 4. Support and Resistance: A red zone marks a resistance level above the current price. A green zone highlights a support level just below, around 157.086. 5. Supertrend Indicator : A green Supertrend line is displayed, suggesting bullish momentum remains intact. 6. Projection: The chart hints at the possibility of a pullback toward the support zone before resuming its upward move to the target. This setup indicates a bullish bias, with a likely breakout if the price sustains within the channel. Key levels; Entry: 157.500-157.300 Target at: 158.200 SL at: 156.800 Support me guys and like comment if you found this helpful.
Long
by Jacks_Trading_Service
USDJPY - Will the weakness of the yen stop?!The USDJPY pairing in the 4 -hour timeframe is between EMA200 and EMA50 and is moving in its mid -term uptrend. If corrected by publishing economic data this week, we can see the downward trend and then the restricted demand zone, and in that area with the right risk. The valid defeat of the specified resistance range will pave the way for the pair up to 160. Tatsu Yamasaki, a former Japanese official, stated in an interview with Nikkei that collaboration between Trump and Tokyo could help normalize the dollar-yen exchange rate. He suggested that Trump should work with Tokyo to weaken the overly strong dollar. Such cooperation could strengthen economic relations between the two nations and bring greater stability to financial markets. Meanwhile, robust U.S. labor market data for December has led many analysts to conclude that the Federal Reserve is unlikely to cut interest rates further at this time. Some even predict that the report could pave the way for the Fed to raise interest rates in 2025. An economist at Bank of America wrote in a note, “Our baseline forecast is that the Federal Reserve will keep rates steady for an extended period. However, the risk of a rate hike is growing.” According to the economist, factors such as core inflation growth or rising inflation expectations could trigger a rate hike.Concerns also revolve around Trump’s policies, including tax cuts and tariffs, which may contribute to higher inflation. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), remarked that the Federal Reserve might delay rate cuts due to stable labor markets and inflation nearing target levels. She also predicted that global economic growth will remain steady as inflation gradually declines in 2025. Georgieva highlighted uncertainties surrounding trade policies under the new U.S. administration, emphasizing their potential impact on the global economy. Additionally, she expects global interest rates to remain relatively high for an extended period. Kazuo Ueda, the Governor of the Bank of Japan, stated that interest rates will be raised if economic improvements and price growth continue. He noted that the final decision on this matter will be made next week. Ueda’s remarks contributed to strengthening the yen in financial markets. Himino, Deputy Governor of the Bank of Japan, indicated that if economic projections materialize, monetary easing policies will be adjusted and interest rates increased. He stressed the need for continuous monitoring of U.S. economic policies under the new administration. Domestically, one of the critical issues remains the outlook for wage growth in the fiscal year 2025. Himino acknowledged various risks, both domestic and international, while noting that the U.S. economy is expected to remain strong. Masato Kanda, a former currency official for Japan, continues to comment on the yen. Speaking in Tokyo, he emphasized that currency markets should move based on fundamental principles, and any sudden deviations from these fundamentals require correction. Separately, Nippon Steel announced that it is the sole partner capable of fully preserving U.S. Steel, keeping its blast furnaces operational, and maintaining jobs in the industry. The company stated that its commitments have been shared in multiple meetings with various stakeholders, including employees. Meanwhile, Lourenco Goncalves, CEO of Cleveland-Cliffs, has been accused of unfair biases, as he cannot match the scope and scale of Nippon Steel’s proposal. Nippon Steel emphasized its determination to take whatever measures are necessary to finalize the deal.
Short
by Ali_PSND
Fundamental Market Analysis for January 15, 2025 USDJPYThe Japanese Yen (JPY) is struggling to gain significant strength and is languishing near multi-month lows against its US counterpart amid doubts over the Bank of Japan's (BoJ) rate hike plans. Signs of intensifying inflationary pressures in Japan leave the door open for a BoJ rate hike in January or March. In addition, BoJ Deputy Governor Ryozo Himino signaled on Tuesday that a rate hike remains a real possibility at the upcoming meeting. However, there was no direct indication in Himino's comments about the possibility of a rate hike in January. Moreover, some investors believe that the BOJ may wait until the spring talks before pulling the trigger. Meanwhile, the Federal Reserve's (Fed) hawkishness in December was a key factor behind the recent rise in U.S. Treasury yields. This has widened the yield differential between the US and Japan, which in turn is seen as another factor undermining the low-yielding Japanese yen. In addition, risk-on sentiment is deterring traders from placing bullish bets on the safe-haven yen. At the same time, weak US Dollar (USD) price action acts as a headwind for the USD/JPY pair ahead of the release of the latest US consumer inflation data. The crucial Consumer Price Index (CPI) report may influence the Fed's policy course and stimulate demand for the USD. Trading recommendation: Trade mainly with Sell orders from the current price level.
Short
by Fresh-Forexcast2004
USDJPY consolidating before the next leg up.USDJPY is trading inside a Channel Up since September 16th and in the past 4 weeks has been ranging. This consolidation was also seen on the previous Channel Up pattern of 2024, halfway through the pattern. The 1day RSI patterns among the two are identical, which means that this is a strong buy opportunity. Buy and aim for Resistance A at 162.000 as a short term, low risk target. Previous chart: Follow us, like the idea and leave a comment below!!
Long
by TheCryptagon
BOJ to discuss rate hike, yen dips lowerThe yen remains calm and is lower on Tuesday. In the North American session, USD/JPY is trading at 157.98, up 0.34% on the day. There are no tier-1 events out of Japan this week and the yen is having a relatively quiet week. That could change with the release of US inflation on Wednesday. Headline CPI is expected to rise to 2.9% y/y in December from 2.7% in November, while core CPI is expected to remain at 3.3% y/y for a third straight month. Inflation reports have had significant impact on rate expectations but the December inflation rate might not be all that significant, as expectations of a rate cut have fallen in recent weeks. Since the December meeting, the Fed has tried to dampen rate-cut expectations and the market is not expecting a rate cut in the first quarter of 2025. The money markets have currently priced in a quarter-point cut at the Jan. 29 meeting at below 3%  and at the March meeting at around 20%. With inflation largely under control and a solid labor market, there is little reason for the Fed to cut rates in the near term. The Bank of Japan tends not to telegraph its rate plans, leaving investors in the dark and on the hunt for clues about the central bank's rate plans. The uncertainty adds to the drama ahead of BoJ meetings and means that each meeting should be treated as a market-mover. BoJ's Deputy Governor Ryozo Himino said on Tuesday that the BoJ would discuss a rate hike at the Jan. 24 meeting. Himino didn't say what decision he expected the BoJ to make but reiterated Governor's Ueda recent comments that wage growth was solid and that there was a lot of uncertainty surrounding Donald Trump's trade policies. USD/JPY tested resistance at 158.13 earlier. Above, there is resistance at 158.49 There is support at 157.78 and 157.42
by yesfish
USD/JPY Potential Reversal Zone with SMC and ICT InsightsFX:USDJPY USD/JPY Potential Reversal Zone with SMC and ICT Insights The chart shows the USD/JPY 4-hour timeframe with various technical indicators and annotations. The price is currently at 157.506, with a slight increase of 0.075 (+0.05%). The chart includes several key elements: Break of Structure (BOS): Indicated at multiple points, suggesting significant shifts in market structure. Change of Character (CHoCH): Highlighted at various points, indicating potential reversals or shifts in market sentiment. Fibonacci Retracement Levels: Key levels at 0.786 (158.452), 0.786 (158.293), 0.618 (158.121), and 0.5 (157.889). Volume Profile: Shows high volume nodes around 157.927 and 157.599, indicating strong support/resistance zones. RSI Indicator: Currently around 46.47, suggesting the market is neither overbought nor oversold. Buy Strategy: Entry: 157.600 (near the current price and volume profile support) Take Profit 1 (TP1): 158.000 (+40 pips) Take Profit 2 (TP2): 158.450 (+85 pips) Stop Loss (SL): 157.000 (-60 pips) Sell Strategy: Entry: 158.100 (near the Fibonacci 0.786 level and resistance) Take Profit 1 (TP1): 157.600 (+50 pips) Take Profit 2 (TP2): 157.000 (+110 pips) Stop Loss (SL): 158.500 (-40 pips) VIP Signal: Buy: Entry 157.600, TP1 158.000 (+40 pips), TP2 158.450 (+85 pips), SL 157.000 (-60 pips) Sell: Entry 158.100, TP1 157.600 (+50 pips), TP2 157.000 (+110 pips), SL 158.500 (-40 pips) This analysis leverages various strategies, including Price Action, Smart Money Concepts (SMC), and ICT Elliott Wave, to formulate detailed buy and sell strategies. The identified key levels offer optimal entry and exit points, ensuring a balanced risk-reward ratio for traders.
by Alexgoldhunter
USDJPY SHORTUSDJPY: Rising Wedge Consolidation with Bearish Momentum Building Market Overview: USDJPY has been moving within a large Rising Wedge pattern on the Daily timeframe, currently consolidating near the top. We are observing Daily RSI divergence, signaling potential exhaustion at these elevated levels. The 4H intermediate structure has broken below the 50 SMA, indicating early signs of bearish momentum. Key Observations: 1. Bearish Momentum Building: • The rejection at the top of the wedge coincides with increased volatility, as shown by the Bollinger Bands, suggesting that the anticipated downward move may have already begun. • Confirmation of bearish momentum on lower timeframes (LTF) is required for precise entry into this move, targeting the 153-154 region. 2. Weekly Perspective: • USDJPY has recently broken out of a long-term downward trendline on the Weekly chart, marking a shift in macro sentiment. • This pullback is setting up for a potential Higher Low (HL) on the Daily timeframe, creating a base for a continuation move beyond 158. 3. Fibonacci Confluence: • The anticipated downward move aligns with the 0.5-0.618 retracement of the larger upward move—a strong area for liquidity gathering and a potential bullish HL formation on the higher timeframes. 4. 4H Bullish Order Block: • The 4H bullish order block near the retracement zone adds further confluence as a key area to watch for reversal and liquidity accumulation. Trading Plan: • Current Focus: Await confirmation of bearish momentum on LTF for a high-probability entry into the pullback. • Target Zone: 153-154 region, aligning with the Rising Wedge breakdown and retracement levels. • Larger Trend: The pullback is viewed as part of a macro bullish structure, setting up for a significant continuation move beyond 158 in the coming weeks. Stay tuned for precise entry signals as we monitor bearish momentum and key levels for validation. Trade with discipline and proper risk management!
Short
by EliteMarketAnalysis
Potential Setup for JPY/USD: Double Top and Wedge Pattern AnalysThe JPY/USD pair is showing signs of a major trend reversal, with a potential double top pattern forming. While there was a bullish trend earlier, it officially ended with the penetration of the trendline in early August 2024, marking the shift to a potential bearish structure. Currently, the market appears to be in the second leg of the double top, signaling the possibility of a major reversal. This setup could take one of three forms: • A higher high double top, indicating a false breakout. • A lower high double top, confirming weaker buying momentum. • A double top with equal highs, aligning with a classical reversal pattern. Key Observations 1. Resistance Zone Around 160 Price is expected to test the resistance zone near 160, which aligns with the potential peak of the double top. Traders should look for a rejection signal to confirm the resistance level's strength. 2. Wedge Blow-Off Above the Upper Channel Line The first sign of a reversal may be a blow-off in the wedge pattern, as the price moves above the upper channel line. This would indicate exhaustion in the upward momentum and the beginning of a bearish reversal. 3. Retest or Pullback Scenarios o If the price breaks through the resistance zone, wait for a retest of the 160 level to confirm it as a false breakout. o If the price starts to decline without reaching the resistance zone, traders should watch for a pullback to the EMAs. A death cross—where the 20 EMA crosses below the 50 EMA—will provide further confirmation of bearish momentum. 4. Trading Range and Micro Double Top Formation The price may enter a trading range after rejection at the resistance zone or following a breakout. Within this range, we can expect the development of a micro double top pattern, which could serve as a precursor to further downside. This setup would reinforce bearish momentum and provide additional entry opportunities. Target Levels 1. First Target – 150 Zone The initial target lies near the 150 level, which aligns with a key Fibonacci retracement. At this zone, we can expect a pullback before further downside. o If the 150 zone is penetrated, traders should move their stop-loss to the pullback level for protection. o Additionally, traders may choose to add to their existing short positions during the pullback, depending on the structure of the retracement. 2. Second Target – Beginning of the Wedge The final target for the double top setup is the beginning of the wedge pattern, representing a major support level and the structural low before the second leg formed. Strategy Recommendations • Entry Points: Monitor price action closely around the 160 resistance zone. Rejection at this level would strongly support the double top scenario. • Pullback Entry: If a wedge blow-off or initial decline occurs, consider entering short positions during pullbacks to the EMAs, especially as the 20 EMA crosses below the 50 EMA. • Stop-Loss Management: Use a trailing stop to protect profits as the price moves toward target levels. Adjust stop-loss levels after pullbacks, particularly after penetration of the 150 zone. • Second Entry Opportunity: Look for a second short entry after pullbacks to the EMAs to strengthen your position. The JPY/USD pair offers a compelling setup for a major trend reversal, supported by clear technical signals. The current price action suggests a second leg of the double top is forming, and traders should remain vigilant around the 160 resistance zone. With the 150 zone as the initial target and the wedge’s starting point as the final target, traders can capitalize on multiple opportunities by combining pullback entries, stop-loss adjustments, and trailing stops to effectively manage risk and maximize potential gains.
Short
by OWLINGOLD
USD/JPY: where is my carry trade?Hi everyone, Since my last idea, a lot has changed. My swing target of 150 was reached, and buyers took over in December. Recently, USD/JPY hit a 6-month high of ~158.5. Since that low at 150 in December we saw different major signals from UJ: "When the last buyer died..." buyers volume spike on 19 of December. Healthy accumulation on 4 of December supported the rally, showing more love for the dollar than yen. "Heyyy, I know this thing—order block!" Post-Dec 19, price rose to 158.4 with waning buyer volume and mounting shorts. OB or just noise? Suspicious either way. "Is this still an uptrend?" Price action shows small but consistent higher highs/lows. Volatility indicators hint at rising consolidation. "Dollar supremacy forever?" Yes, dollar is stronger, but corrections happen. Whether at 70 or 175 USD/JPY, dollar will still be stronger. "BoJ wouldn't intervene before 160. Are they bluffing?" May be possible, but I doubt it. The finance minister concern was very high yen depreciation and they mentioned that "we wouldn't let USD/JPY reach 160". But Japan’s MO is more stealth than spectacle I think. Lastly, for my technical analysis lovers, pitchforks . Pitchforks are a more "hipster" way to draw trendlines. Maybe also more mathematical way. They are easy, but advanced pitchfork usage may be tricky. As you see in the chart, we’re stuck between an upper bound and a demand zone. This supports my idea of consolidation, since the demand zone and the upper pitchfork are the current support and resistance. Another one for tech analysis lovers. Elliott Waves . There is a possibility that we are in the so called "elliot correction waves", which is often seen after an uptrend. Leg A was the summer drop, leg B took us to 158.5, and leg C could dip us to 136–146. Probability? No idea, but the range fits the pitchfork, Elliott theory, and interest rate differential. Your guess is as good as mine. Chapter 1: Rising Distribution – Not Your Average Wyckoff The distribution I am talking about is not the Power of Three or AMD distribution concept. For old school lovers, the distribution I mean is based on Wyckoff method. Wyckoff was an analyst who described the difference between trends and ranging markets way before traders had 3 screens with gradient indicators and fancy ways to detect the regime. In his method, there is a thing called "distribution". It is when the institutions are fed up with the uptrend and want to sell an asset. This is also when the "buys" are transferred from institutional hands to our, normal traders, hands. How does it work? FOMO, news and herd instinct. This is where "don't stand in front of an ultra-fast train" fails. Classic Wyckoff distribution : the point where institutions get off the train, and retail traders hop on thinking it’s express to the moon. Rising distributions happen when the crowd still expects an uptrend, but the big players quietly exit. Seems like they have another train plan. At least, that's what the volume delta says. :) Chapter 2: The Macro Mix US is strong. Still solid. Even with inflation and bubbles, USD rides high thanks to its post-WWII economic dominance. This allows US to export their debt until today. Debt, tech booms, and AI surges aside, the system holds. We’ve swapped dot-com booms (2000 DotCom Bubble) for AI hype and NVIDIA super-processors. Just like the early 2000s with software, we’re seeing another leap, but with AI, robotics, and LLMs instead of spreadsheets and PCs. I wont mention any other issues with US economy, you could read that in my previous idea, and Trump tariffs wouldn't help it either, so everything stays the same. Another thing, but not only concentrated on US: wealth gap. Wealth gaps grow, and some of the folks that were living right in the middle, having more than enough, but not too much, are struggling financially now, or became rich and big. But blindly piling into assets isn't the answer. Markets shift, and the rich adapt. If you want more insights about the wealth gap and how it may worsen the recession, check out the amazing videos from "Garys Economics" . A former Citi bank top trader, Gary specializes in forex, especially Yen and Swiss franc. Chapter 3: Yen vs. Dollar Carry Trade The interest rate differential is narrowing. BoJ raised their rates for the first time since the '90s. Japan’s deflationary pressures pushed change . Sure thing Japan has to change something, and they did and will do. Japan is still a tech and automotive powerhouse, but monetary policy is tricky. Wouldn’t a cheaper yen help exports? Its complicated. Dollar and euro is still doing fine, being ones of the leading currencies in the world and also leading in exports. I don't think that matters that much. Now, zoom out of the chart. Historically, USD/JPY was 138–145 at similar USD rates. Add the new yen rate, and voilà: you get my 136–146 range. ----------- Finalizing, USD/JPY is my muse. It is my main trading currency, maybe the only one. The a constant battle between east and west, logic and mystery is truly beautiful. Since Dec 19, it’s been weird for most of us. Currently with AI surging in trading, we see companies fighting to find the alpha in the market. The strategy that will always work, the key to unlocking the market. This goes on for years and didn't start only now. Markets evolve, new players enter, and unexpected events (Black Swans) rewrite everything. Nevertheless, the "holy grail" strategy doesn’t exist (yet). More and more AI models are flexible and need to be improved faster and faster. So should your strategy be, even if you are not an AI. AI or not, adaptability is your true alpha. I’ve also updated my own metrics, ditched outdated ones, and embraced new indicators and models. Learn some coding. Python, R, and Pinescript will be as essential as Excel soon. You could also start with pinescript by editing your indicators/strategies in a way, that your ideas are implemented in it. Never stop learning, even when it feels like the market is gaslighting you. Navigate the markets like an explorer: decode shifting patterns and embrace the unknown future. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always perform your own analysis before making trading decisions.
Short
by akvil3
USDJPY Will Collapse! SELL! My dear followers, This is my opinion on the USDJPY next move: The asset is approaching an important pivot point 158.40 Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 157.58 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
4-hr USD/JPY: Another 200 Pip Rise Not Impossible The Dollar King continues to assert its dominance, with the EUR, GBP, and AUD seeing significant declines over the past weeks. This robust performance is fueled by the Fed’s hawkish comments on fewer rate cuts in 2025, bolstered by last week’s strong NFP and Unemployment data. The USD is poised for further gains in the near term, although a deeper correction may follow. Technically, after amassing hundreds of pips, a conservative pullback seems imminent. USD/JPY recently broke below its 60-period MA, a support level it previously respected, opening the door for a dip. The 23% Fibonacci retracement now serves as the next key support level, where a rebound could align with the pair’s strong upward momentum. A move toward 156.50, or slightly lower, may invite fresh speculative buying. Such activity is expected to drive USD/JPY another 200 pips upward, potentially retesting its highs above 158.60 and reinforcing the pair’s bullish trajectory.
Long
by Trendsharks
USD/JPY: Signs of Exhaustion Amid Yield and RSI DivergenceWhile USD/JPY remains strongly correlated with yields in the belly of the US Treasury curve, that’s not translated to explosive upside recently, a noticeable departure from the trend seen in previous months where rising yields saw dollar-yen rip higher. With the pair unable to hold gains despite the blowout nonfarm payrolls report last Friday, the price action hints of fatigue following the substantial bullish run from the September lows. The inability to follow US Treasury yields higher may also be a sign carry trade flows may be slowing or even stalling. RSI (14) has diverged from price over the past month, and with MACD generating a fresh bearish signal, it points to waning bullish momentum, potentially increasing the risk we may see some form of bearish reversal. With dips below 157 bought over the calendar turn, the risk-reward of going short around current levels does not screen as compelling, suggesting those considering bearish trades may want to wait for a potential retest of Friday’s high of 158.88 before initiating trades. If the price were to be rejected again at this level, it would generate a decent setup, allowing for shorts to be established beneath the level with a tight stop above for protection. 155.89 would be a potential trade target.
Short
by FOREXcom
Weekly FOREX Forecast Jan 13, 2025This is an outlook for the week of Jan 13-17th. In this video, we will analyze the following FX markets: USD Index EURUSD GBPUSD AUDUSD NZDUSD CAD, USDCAD CHF, USDCHF JPY, USDJPY The USD is still strong, so no reason to sell in the near term. With price at Monthly and Weekly Supply levels, we have to proceed with caution in the near term. The bias is still bullish until the market gives us a HTF bearish break of structure. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
by RT_Money
USD/JPY currency pair, showcasing technical analysis USD/JPY currency pair, showcasing technical analysis to predict potential price movements. Key observations include: 1. Downward Channel - The black arrows and lines indicate a descending channel, suggesting a bearish trend. 2. Potential Support Zone - The white box highlights a possible support level where the price might reverse upward. 3. Downside Breakout - The chart predicts that the price could drop toward the 156.7 level. This is a trading forecast. Ensure you consider additional analysis and risk management before making any decisions.
by Olivia-Grace
2
USD/JPY BULLISH TREND LETS SEE🚨 USD/JPY Update – Bullish Outlook 🚨 Traders, USD/JPY is showing strong bullish potential! Here’s the breakdown: 🔑 Bullish Zone: We’re looking for a bullish move if the price reaches 158.10. This could be a great entry point for the upside momentum. 📈 Technical Target: The main target for USD/JPY is 161.00, where we anticipate significant resistance. Keep an eye on this level for possible take-profit or further opportunities. 🔒 Support Zone: The immediate support is at 157.50, a key level where the price could potentially bounce if there's a pullback. 🔼 Resistance Zone: Watch out for 159.00 as it may act as the next hurdle before heading towards our target.
Long
by ALBERTGOLDHUNTER
14
USDJPY ANALYSIS IS READY TO FLY MUST READ THE CAPTION The chart for USD/JPY shows the following: 1. Timeframe: 1-hour chart. 2. Key Levels: Target Zone: Around 159.100, indicating a potential bullish target. Current Price: Approximately 157.933 (Sell) and 157.946 (Buy). Stop Loss: Positioned near 157.226 to manage downside risk. 3. Technical Analysis: Pattern: A potential rounding top or consolidation phase before a breakout. Scenarios: Two possible bullish outcomes are shown with arrows: A breakout above the resistance zone, aiming for the target zone (159.100). A retracement followed by a bullish move. Key Support Levels: 157.692 and below, which could act as critical zones to watch. 4. Moving Average: A moving average (possibly the 200 EMA) provides additional support near the stop-loss level. 5. Trading Idea: Buy opportunities are highlighted with strict risk management via the stop-loss placement. The chart suggests bullish momentum but emphasizes careful monitoring of price action near key levels.
Short
by Forex_Vip_Signals
USD/JPY showing weaknessThe USD/JPY pair has been fluctuating within a range. Recent data shows the price closing around 157.30, indicating some stability in the short term. Key support levels are around 156.24, while resistance levels are near 158.421. These levels can act as potential entry or exit points. so 156 will be a good level to short wit a red 4h candle closed near. Nver enter after a green candle only after a 4h bearish candle closed bellow 156.24. SCALP target @156.244 SWING Target @153.160
Short
by miketiger