USDJPY: Potential Short Setup at Monthly ResistanceUSDJPY has been in a strong uptrend, recently consolidating within a rectangle pattern. Price attempts to hold above the rectangle and potentially challenge the monthly resistance level. Always practice proper risk management with stop-loss ordersby DennisDimsUpdated 114
USD/JPY Analysis: The Rate Exceeds The Level of 155 Yen Per USDUSD/JPY Analysis: The Rate Exceeds The Level of 155 Yen Per USD Today, the price of USD/JPY once again renewed its 34-year high, exceeding the level of 155 yen per dollar, which put pressure on the current authorities. According to Reuters, officials are trying to maintain calm in the market. "We will closely monitor market movements and respond accordingly," Finance Minister Shunichi Suzuki told parliament on Thursday as an opposition lawmaker called on him to intervene in the foreign exchange market. Chief Cabinet Secretary Yoshimasa Hayashi confirmed that the Japanese authorities are ready to take action as necessary: "It is important that exchange rates move steadily, reflecting fundamental data. Excessive volatility is undesirable." He declined to comment on the yen's recent movements or the possibility of currency intervention. As technical analysis of the USD/JPY chart shows: → The price moves within the ascending channel (shown in blue), which has been in effect since the beginning of 2024. → The long lower shadow on the candle on April 19 (shown by the arrow) marked a test of the median line, which acts as support for the price. → Pay attention to the nature of the growth after the breakdown of the level of 152 yen per dollar, in the area of which the 2022 maximum was recorded. The price did not test this level after the breakout, indicating the strength of demand. If bullish sentiment remains as stable, the price of USD/JPY may continue to rise towards the upper border of the ascending channel. But everything can change the fundamental background. Market participants' attention is now focused on the Bank of Japan's interest rate decision tomorrow. Although analysts expect rates to remain unchanged, according to ForexFactory, it is possible that announcements could be sharp enough to dramatically change the situation for the extremely weakened yen. 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 FXOpen5
USD/JPY ticks higher ahead of BoJ meetingThe Japanese yen continues to lose ground on Thursday. In the European session USD/JPY is trading at 155.61, up 0.17%. Earlier, the yen dropped to a 34-year low of 155.74. Friday will be a busy day out of Japan. Tokyo Core CPI, which excludes food, is a key leading indicator of nationwide inflation trends. It is expected to drop to 2.2% in April, down from 2.4% in March. The Tokyo core-core rate, which excludes food and energy, is also expected to fall, from 2.9% in March to 2.7% in April. The March reading marked the first time that the core-core rate fell below 3% since November 2022. Inflation played a key factor in the Bank of Japan’s historic decision in March to raise interest rates out of negative territory. The BoJ wants to see service inflation and wage growth to rise in order to ensure that inflation remains sustainable at the 2% target. The Bank of Japan meets on Friday as the Japanese yen continues to lose ground. The yen has lost about 10.4% against the US dollar in 2024 and this sharp descent in such a short period has set off alarm bells in Tokyo. The BoJ’s tightening in March hasn’t stopped the bleeding, as the BoJ has said that it will maintain an accommodative policy and the US/Japan rate differential remains hasn’t narrowed as the Fed has delayed rate cuts. BOJ expected to stand pat The BoJ is expected to maintain policy settings at the meeting but Governor Ueda may sound hawkish in order to provide some support for the yen. The meeting could turn out to be a non-event but the threat of intervention from the Ministry of Finance is sure to be on the minds of investors. The US releases the initial estimate for GDP for the first quarter. The market estimate stands at 2.5% y/y, compared to 3.4% in Q4 2023. The US economy has been robust and rising inflation has not only delayed rate cuts but there is even talk that the Fed could raise rates in order to put the brakes on inflation. USD/JPY tested support at 155.30 earlier. Below, there is support at 154.13 There is resistance at 155.96 and 157.13 by OANDA0
USDJPYHello friends, the Japanese yen can be strengthened a little In my opinion, USDJPY will weaken a bit from this areaShortby farzad_abdollahzade226
USD/JPY Analysis: The Rate Exceeds The Level of 155 Yen Per USDUSD/JPY Analysis: The Rate Exceeds The Level of 155 Yen Per US Dollar Today, the price of USD/JPY once again renewed its 34-year high, exceeding the level of 155 yen per dollar, which put pressure on the current authorities. According to Reuters, officials are trying to maintain calm in the market. "We will closely monitor market movements and respond accordingly," Finance Minister Shunichi Suzuki told parliament on Thursday as an opposition lawmaker called on him to intervene in the foreign exchange market. Chief Cabinet Secretary Yoshimasa Hayashi confirmed that the Japanese authorities are ready to take action as necessary: "It is important that exchange rates move steadily, reflecting fundamental data. Excessive volatility is undesirable." He declined to comment on the yen's recent movements or the possibility of currency intervention. As technical analysis of the USD/JPY chart shows: → The price moves within the ascending channel (shown in blue), which has been in effect since the beginning of 2024. → The long lower shadow on the candle on April 19 (shown by the arrow) marked a test of the median line, which acts as support for the price. → Pay attention to the nature of the growth after the breakdown of the level of 152 yen per dollar, in the area of which the 2022 maximum was recorded. The price did not test this level after the breakout, indicating the strength of demand. If bullish sentiment remains as stable, the price of USD/JPY may continue to rise towards the upper border of the ascending channel. But everything can change the fundamental background. Market participants' attention is now focused on the Bank of Japan's interest rate decision tomorrow. Although analysts expect rates to remain unchanged, according to ForexFactory, it is possible that announcements could be sharp enough to dramatically change the situation for the extremely weakened yen. 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 FXOpen117
New high for dollar-yen but continuation depends on the BoJThe dollar has generally strengthened against most major currencies since the beginning of March as expectations for the start of the Fed’s pivot have steadily moved back. There’s also the American economy’s overall good performance. GDP remains high and the chance of recession low while inflation and new jobs have consistently beaten the consensus for many months. Japan’s economy certainly isn’t doing terribly, but it’s the large divergence in rates which is one of the main drivers for the move up on this chart. The 61.8% Fibonacci extension around ¥158 is a particularly obvious target in the medium term, but whether this is achieved depends on American advance GDP and the BoJ’s decision. The price did respect the 50% Fibo extension consistently until 10 April. The overbought signal from the slow stochastic probably wouldn’t be too important by itself considering the fundamental situation, but combined with a declining ATR and having reached a new psychological area there’s the potential for a retracement or consolidation in the near future. The 20-day moving average is likely to remain an important dynamic support in the next few days. Below that, the 50% Fibo extension around ¥152 could be an important support. Overall, this is uncharted territory: ¥155 is a 34-year high for dollar-yen. The uptrend is quite mature and the outlook for monetary policy is evolving constantly. This is my personal opinion which does not represent the opinion of Exness. This is not a recommendation to trade.by Michael_Stark_Exness0
USDJPY is expected to continue hitting new highsOn the daily chart, USDJPY maintains a strong upward trend. At present, we can pay attention to the support near 154.6. If this position does not fall back, it is expected to continue upward. The first target of the upward trend is 157.0, and the second target is 158.0.Longby XTrendSpeed0
USDJPY (SHORT) Monthly Trendline Resistance Area has Been reached. - Monthly Pivots Resistance Area Hit - Weekly Pivot Resistance Area Hit - Daily Pivot Resistance area Hit Shortby MR_US30_ZAR2211
Market Update: Key Currency Movements and Policy Decisions▪️ Yen Under Pressure: The yen continues to struggle, declining 9% this year, making it the worst-performing G10 currency. It recently dipped to a 34-year low of 155.445 against the dollar, briefly touching 155.45, a significant level that had previously been considered a threshold for potential intervention by Tokyo. ▪️ BOJ Meeting in Focus: The Bank of Japan (BOJ) has commenced its two-day rate-setting meeting. While no changes in the short-term interest rate target are expected, all eyes are on Governor Kazuo Ueda's strategy to navigate away from ultra-easy monetary policies without destabilizing the yen. Memories of 2022, when dovish comments led to a costly intervention to support the yen, loom large. ▪️ Potential Currency Intervention: With the yen's continued slide, especially if it approaches 160 to the dollar, there’s growing speculation about when Japan might intervene. Despite the strong headwinds from relative interest rate differentials, Finance Minister Suzuki has hinted that the conditions for intervention might be set, adding a layer of uncertainty to forex markets. 💬 Your Thoughts? Will there be an intervention or not? This expert material is provided by SabioTrade . SabioTrade | Prop Trading Firm 🔹 Funded accounts $20k-200k 🔹 80-90% profit share 🔹 1-step assessment 🔹100% Refund 🔹 Own trading platform Shortby sabiotrade2
USDJPY POSSIBLE BEARISH REVERSAL Price currently trade at 155.657 after s strong bullish strength was developed days ago. Price Is set to drop up to 0.5%. A sell opportunity is envisaged from the current market price. Stop loss will be set 0.1% up above the entry price. Target - 154.878Shortby Cartela112
USDJPY: Curve Analysis-SL @ 160.40 🚫 (aggressive) SLO @ 156.21 ⏳ SSO @ 147.72 ⏳ TP1 @ 131.56 TP2 @ 117.98 TP3 @ 92.53 TP4 @ 92.853 BLO @ 79.80 ⏳ -SL @ 75.56 🚫 (aggressive) Long-term time frames (1 week to 1 year): — Shows the big picture, revealing major trends and economic factors. — Less volatile, price movements are slower and smoother. — Suitable for long-term trend trading and position trading. — Requires less frequent monitoring but may offer fewer trading opportunities.Shortby ProfessorCEWard4
Which country to go in June ? Choose your pickRead this news here www.cnbc.com So, you can go to the money changer and change into these foreign currencies so you can spend more in these foreign countries. Of them all, Japan should be the most popular as it offers much variety in terms of its nature, food ,culture, etcby dchua1969221
USDJPYWay over extended but keeps pusshing up relentless Got relatively positive expectation on news out of US tomorrow. Man u gota be quick sometimes. Mumbai just opened 4:45pm Japan meant to raise rates tomorrow also AUDJPY also just shot up. GTP Considering the mixed nature of the economic indicators provided, along with the potential impact of slightly higher continuing jobless claims on the USD, let's reassess the strength of the USD: USD Strength Score: Around 55 Positive GDP growth rate forecast and pending home sales, indicating economic expansion and strength. Wholesale and retail inventories expected to rise, suggesting increased economic activity, albeit with slightly mixed results. The trade deficit projected to widen slightly, potentially exerting downward pressure on the USD. Jobless claims, both initial and continuing, are expected to rise slightly, indicating ongoing challenges in the labor market, which could weigh on the USD. As for the most important data to watch, considering the high impact and relevance to the current economic conditions, the GDP Growth Rate QoQ for Q1 and the Pending Home Sales MoM for March would be crucial. These indicators provide insights into the overall economic performance and the health of the housing market, both of which are significant drivers of investor sentiment and currency movements. Longby NZ_Shareman222
🔥🔥🔥SELL NOW!!!✅✅✅The USDJPY has reached an optimal short-selling opportunity and is expected to yield significant profits in the near term. All signals I issued in April have resulted in profits, maintaining a consistent 100% accuracy rate. Weekly profits of at least 200% can be attained. Do not miss out on my accurate signals!Shortby Lion_Trading_MasterUpdated 116
UJ update 4/24Hello everyone! Just a quick update on UJ. Added a pyramid Entry, while moving SL to the pyramid entry SL. Monitoring the 156 levels, But confident that this will go to 160.Longby VincentFX950
USDJPY Big Picture: Retest 124 Possible, Then 200+After a sudden policy shift from the BOJ, we saw the market trend reverse course and fall from the 140s all the way back to 131. It is mind-boggling that top national currencies are this volatile, but here we are. Now the overreaction to the policy shift has retraced a bit and we are back at 134. Either a dovish hint by Powell or another hawkish step by Kuroda could have us see a retest of 124. What is priced in is Powell slowing raises into spring 2023 and then leveling off, and Kuroda continuing to bide his time with no more major shifts. This is the most likely scenario and would probably have us continue ranging 130-140. However, any event that requires the FED to shift policy even slightly more dovish will dump this pair to retest 124. That is something we should be ready for and expect. If that happens, 124 is a very strong entry point. Notice that the arc still has many years to play out the slow death of the yen. It is irrational to be optimistic about the yen long term. Longer term, both technically and fundamentally, USDJPY is heading to 200 this decade and then to infinity and beyond.by funtimesUpdated 5
USDJPY → A strong buyer is willing to go higherFX:USDJPY does not pay attention to the behavior of the American dollar. The focus is on the Japanese yen. The currency is in a strong sell-off and continues to get cheaper, while a beautiful set-up is forming on the chart. Rising triangle in the global perspective and in the short term: on D1, on H4 and on H1. A beautiful situation, when the chart lives its own life and practically does not react to the behavior of the US dollar, which starts the correction from a strong resistance. The trigger level for the Japanese Yen is 151.94, the break of this resistance will cause the formation of a strong bullish impulse. The structure will break when the support at 151.15 is broken, but not about that for now. Resistance levels: 151.78, 151.94 Support levels: 151.15, 150.8 Technically and fundamentally, the Japanese Yen is weakening and will continue to weaken despite the change of actions of the central bank of Japan. The currency pair may renew the high in the medium term. Regards R. Linda!Longby RLindaUpdated 6161174
USDJPY - Fibo Retracement Trade Pulse Up, Retrace to Fib(0.318), break above Fib(0). First try on yesterday's candle has failed. Retry with direct market order. Longby KaracTradeUpdated 222
USD JPY - Potential TargetThis could be the potential target for USDJPY on this Long PlayLongby algodynamix0
USDJPY : Major breakoutMajor breakout seen on USD JPY. This is now set to go a LONG way !Longby algodynamix0
USDJPY Set for Bullish Surge, Eyes on 154.826 BreakoutHello there, USDJPY is trending Bullish at the H1, a minor bearish impulse is expected but a bullish break above 154.826 is the bullish interest. The needs to be a low greater than that level for the continuation of the uptrend and the bias is 155.393 with two price targets. Happy Trading, K.Longby KhiweUpdated 0
The possibility of correctionHello friends. Considering the drawn channel, I expect to have a correction up to the midline range. what is your opinion? Good luck. # Let's look simplyShortby HippoTrading228
Technical Analysis: USD/JPY Stability Amidst Correction SignsUSD/JPY is currently at its highest level in decades, at 155.00. This has traders concerned about the risks of Japan's intervention in the forex market. The strong recovery of the US dollar (USD) is also driving the USD/JPY higher. From a technical perspective, the market is stable but showing signs of correction. Prices are expected to retreat to the 0.5-0.618 Fibonacci level before resuming their upward trend.by Daisy_Anna2