- We've seen USD/JPY uptrending for what will be the fifth (5) consecutive Weekly Green Candelstick prints. Some cool of may occurr in terms of price action, further due for correction ? Lots of Higher Highs levels as Support from below Looking from the left, a Weekly Supply Zone can be spotted ; (you can refer it as a *W OB). As well coinciding with the fact of...
Look at those beautiful channels for $FX:USDJPY. Last year, we had a strong uptrend from 115 to 151, and the central bank had to intervene strongly. We see another uptrend this year as well. There is a fight between the market and the central bank. BoJ had to make a move when the price reached to 144. But it seems market wants to push higher this. We potentially...
USD/JPY has continued to defy gravity despite the growing threat of verbal (or actual) yen intervention by the MOF/BOJ. Yet the higher and faster it rises, so does the threat of intervention. You can see what impact it had on USD/JPY from the large bearish candle that formed on 23 October 2022, where the initial break above 150 was then met with a swift move lower...
Hey there, traders! 🌟 Let's delve into the tricky landscape of dollar yen – a setup that demands our attention. The overarching trend suggests a bullish journey, but buckle up, because there are twists ahead. 📈 News flashes about the potential Bank of Japan (BOJ) intervention and the recent wastewater stir have stirred the pot. 🌊⚖️ For the conservative trader,...
USD/JPY has posted small gains on Friday, enough to push above the symbolic 146 line. On the data calendar, Tokyo Core CPI dipped lower and Fed Chair Powell addresses the Jackson Hole Symposium later today. Japan released the Tokyo Core CPI earlier today. This is the first inflation release of the month, making it a key event. In August, Tokyo Core CPI rose 2.8%...
The Japanese yen has posted significant losses on Monday. USD/JPY is trading at 146.23 in the North American session, up 0.57% on the day. The US dollar has looked sharp and is within a whisker of pushing the yen below the 146 line, as was the case last week when the strong US dollar pushed the ailing yen to a nine-month low. The Japanese economy was once...
Despite the prevailing bullish movement on Dollar Yen, a shift in strategy beckons this week. Embark on this journey with me. On the weekly chart, a slight break and closure above the prior high is evident. The magnitude of this "bit" rests upon your filters – will the subtle breach be overlooked? An RSI divergence, however, raises concern. This divergence...
The Japanese yen has extended its gains on Friday. In the North American session, USD/JPY is trading at 145.29, down 0.38%. The month of August has been kind to the US dollar, which has posted strong gains against all of the major currencies. USD/JPY has risen 2.34% in that period and on Thursday, the yen fell as low as 146.56, a nine-month low against the US...
GBP/JPY bulls remain in charge on central bank divergence, but the FOMC minutes could sway things one way or the other as explained in this video.
The USDJPY trades with choppy price action between the 145 and 146 price range. With increasing comments about the weakness of the Yen and the possible invention from the BoJ, the longer the USDJPY stays at this price level, the higher chance we are likely to see an intervention. However, we cannot rule out a continuation of the upside, especially if the DXY...
The Japanese yen has started the week in negative territory. In the European session, USD/JPY is trading at 142.36, up 0.42%. Inflation continues to be a key issue for the Bank of Japan, although it is much lower than in other major economies, at around 3%. Still, inflation is above the Bank's 2% target and this continues to raise speculation that the BoJ will...
In my recent ideas I’ve noted JPY strength resuming and this is evident in the performance last week, and we can see this when looking at the JPYWCU chart which is like DXY for the Yen. We can see what could be a higher low forming and a fourth retest of the resistance around 0.005350 which could break. We’ve seen out-performance of the Yen against many...
I believe we're going to start seeing a shift in sentiment for the JPY, there were indications last week, we broke a rising trendline, we've retraced and retesting now. Fundamentally the Japanese economy looks stronger, despite the loose monetary policy. We saw in June 2022 that BoJ can chuck curve balls in too, I'm not necessarily expecting that but if it...
AUDJPY has come back up towards the highs of the range for a second time and has seemingly been rejected from the range. It is now breaking below trend and has confirmed a 3 Falling Methods at the break of the trend line. This time around I would expect a much deeper move down than the last time perhaps taking us to as low as the 1.618 Fibonacci Extension all the...
I'm looking to buy again, I don't think we've seen the top, we're still miles off an ATH. With JPY still weak, Oil strong (which gives CAD strength), and a bullish engulfing candle on the 4hr (and a pinbar almost complete) I think we've had a 50% retracement of the last impulse and now back up. It would be great for this 4hr candle to close above the previous...
The US dollar continues to rally as the Japanese yen is down for a fourth straight day. In Friday's European session, USD/JPY is trading at 141.93, up 1.33%. The yen has taken investors on a roller-coaster ride. The Japanese currency surged 2.37% last week against the greenback but has reversed directions and dropped 2.15% this week. Japan’s core inflation...
USD/JPY has delivered a decent trend for bulls so far this year, having risen 14% since the January low. Yet we have been fully aware that net-short exposure to yen futures has approached a historical extreme as USD/JPT prices rose towards 145. Incidentally, 145 was the upper range of the liquidity gap we mentioned in a previous article which has now been...
I'm expecting a retracement from this pair soon. it's massively over-bought, that said I think it will push up to just past 110 to meet resistance before it does. I've got my alerts set at 110. Being over-bought is not a determining factor, we can see that recent previous high levels were more overbought than they are now, before retracement. I can also see that...