This week financial markets were dominated by central banks policy decisions. While the Federal Reserve (Fed) and Bank of England (BOE) kept rates on hold, the policy board of the Bank of Japan (BOJ) decided to further increase the flexibility in its yield curve control policy. The BOJ previously set a strict cap of 1.0% for the 10-year Japanese Government Bond...
What a week that was! The dance around 150 certainly didn't disappoint. After the break and failure the week prior which continued on Monday, I thought that was it, that price gave it a good shot but ultimately failed, and would perhaps settle below. To nobodies surprise then when the BoJ held rates at -0.10% that we made almost a straight line move back above...
EUR/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 159.764 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level. Stop loss is at 159.281 which is a level that aligns with the 50.0% Fibonacci retracement level. Take profit is at 160.847 which is a swing-high...
USD/JPY is one of the most traded currency pairs in the world. The value of the USD/JPY pair is quoted in Japanese yen per one U.S. dollar. For traders, it is important to note that the pair is currently at a strong resistance level and is expected to move downwards. Outlook According to, the USD/JPY pair is expected to face resistance at the 151.70 area, which...
USDJPY is falling towards a pullback support and could potentially bounce off this level to rise towards our take-profit target. Entry: 150.433 Why we like it: There is a pullback support that aligns with a confluence of Fibonacci levels i.e. the 38.2% retracement and the 61.8% projection levels Stop Loss: 149.740 Why we like it: There is a level that aligns...
The Japanese yen weakened beyond 151 against the mighty dollar, thanks to the Bank of Japan's (BOJ) recent adjustments to its monetary policy. The winds of change are blowing in our favor, and it's time to seize this moment and take action! By going long on USDJPY, we can potentially capitalize on this favorable market trend and secure significant gains. The...
What an insane session for USDJPY! We know the ExMo is low due to the compression we've seen, but even compared to more normalised figure, what we've seen today has broken all expectations. There are two questions going forward. The most immediate is the Dollar news we have scheduled for Nov 1st. Those being ADP at 12:15pm London (due to daylight savings)...
We have some Bearish Divergence on the ZARJPY, but the main reason I entered this trade was to speculate against the JPY Carry Trade and front-run the potential flight we may get back to the Yen if Japanese Yields were suddenly to go up or even become uncapped during the BoJ meeting tonight. I could have shorted EURJPY, GBPJPY, AUDJPY, or USDJPY instead, but I...
The Japanese yen is drifting on Monday after pushing the US dollar back below 150 on Friday. In the European session, USD/JPY is trading at 149.71, up 0.05%. The Bank of Japan holds its two-day meeting beginning on Monday and there's plenty of anticipation around the meeting. BoJ meetings were once dreary affairs that barely made the news, but that has changed in...
There's talk of the BoJ lifting the limit on yields to 1.5% from 1% this week, which would be a very strong catalyst for the Yen to start showing some strength. We can see that this pair does not have any direction at the moment, trading in a flag pattern, but I don't see this as either bullish or bearish at the moment. I'm not sure how or when or if to trade...
Looking at this pair I'm expecting another bounce from support, I'm cautious as not overly confident in New Zealand Dollar out-performance in the coming weeks, but I'm still seeing the Yen struggling against many crosses. I think we'll be into a sideways movement for the next few sessions and so for this week I'm looking for a signal on the LTF to go long.
The Japanese yen has steadied after three straight days of losses. In the European session, USD/JPY is trading at 150.11, down 0.19%. Tokyo Core CPI climbed 2.7% y/y in October, above 2.5% in September which was also the consensus estimate. The index, which excludes fresh food is a key indicator of inflation trends in Japan and is closely monitored by the Bank of...
The New Zealand Dollar (NZD) is trading bearish against the Japanese Yen (JPY) at 87.386 on Friday, October 27, 2023, following comments from Japan's Chief Cabinet Secretary Taro Matsuno that the Bank of Japan (BoJ) is expected to conduct appropriate monetary policy. Matsuno's comments come amid rising expectations that the BoJ will eventually tighten monetary...
Today's focus: USDJPY Pattern – Ascending Triangle Break (BoJ Intervention?) Support – 149.28 - 148.43 Resistance – 149.90 - 150.16 Hi, and thanks for checking out today's update. Today, we are looking at the USDJPY on the daily chart. Speculation continues as to whether we will see intervention from the BoJ as the USDJPY continues to trade above 150....
I think that retail traders in the main are expecting this pair to crash from 150, I have been, and it may well do (as per my related idea below)... Commentators and past experience suggests that the BoJ will intervene around 150 to 151.5 because they have to, due to the debt relationship with the USA, they're stuck between a rock and a hard place. We all know...
Overview USDJPY is nearing the 150 handle again. The Bank of Japan (BOJ) may intervene, creating lucrative JPY buying opportunities. The Details The Yen is weakening. The JPY Currency Index ( TVC:JXY ) has the Yen at all-time lows. The last time the Yen was this weak was in September and October 2022; the BOJ intervened in the FX markets to strengthen the...
Price moved a lot higher to fill the overnight gap down. My idea yesterday became invalid but this gives me a better entry: Gap down suggests general direction and now the gap has been filled, supported by a pinbar on the 1hr I'm getting in short with a first TP at 156 (ultimately I think 154), but I think this could be the start of the reversal.
We saw some JPY strength last week and I think we could be starting to see reversal, however my confirmation of this will be below 93 support. Even though BoJ hasn't intervened yet, there was a lot of buying in the week which we saw against the USD, I still expect BoJ intervention soon. Nice pinbar rejection on the 4HR from my resistance block. Looking for a...