USDJPYWe took our target. As we analyzed in last analysis, price took a sudden upward move and hit our target area. Longby joelkurien0
USDJPYLooking for a buy signal. Reason to buy, break the pullback price. Taking 1.1 risk ratio. Use proper risk management. Thank youLongby joelkurienUpdated 2
USDJPYIn 5 and 1 minute charts, price is in a cone pattern. so if it break which side we took that side entry. now looking for a sell opportunity. if it hit the buy stoploss. Use proper risk management. Thank youShortby joelkurien2
USDJPY Looking for correction ??The USD/JPY pair has completed the impulsive wave sequence labeled as 1-2-3-4-5 and is now entering a corrective phase, typically labeled as A-B-C. The price has already formed waves A and B and is currently progressing towards wave C, which is expected to extend to the 1.618 Fibonacci extension level. Additionally, the formation of a head and shoulders pattern suggests a potential reversal or a downward correction in the price. Here’s a written summary of the analysis: USD/JPY Technical Analysis: - Impulsive Waves: Completed (1-2-3-4-5) - Corrective Waves: In progress (A-B-C) - Wave A: Completed - Wave B: Completed - Wave C: Targeting 1.618 Fibonacci extension Pattern Analysis: - Head and Shoulders pattern observed, indicating a potential reversal or correction. Shortby joestar95115
4HRS SETUP ON USDJPYPrice to make a retest to the Resistant level above and move all the way down Shortby ubongbernard565Updated 2
USD/JPYA "bullish flag" is a continuation pattern frequently observed in technical analysis. It typically occurs within an uptrend and is characterized by a brief consolidation or sideways movement, followed by a breakout to the upside, resuming the prior upward trend. Here's how it forms and its main characteristics: 1. **Flagpole**: The bullish flag pattern begins with a strong upward price movement called the flagpole. This part represents the initial impulse or momentum phase of the trend. 2. **Flag**: After the flagpole, there's a period of consolidation where the price trades sideways or retraces slightly against the prior trend. This consolidation phase forms a rectangular or parallelogram-like pattern, hence the name "flag." 3. **Breakout**: The bullish flag pattern is confirmed when the price breaks out of the consolidation phase to the upside, indicating that the prior uptrend is likely to continue. Traders typically look for the following characteristics when identifying a bullish flag pattern: - The flagpole should exhibit strong upward momentum and preferably be accompanied by above-average volume. - The flag portion should be relatively shallow and form on decreasing volume, signaling a temporary pause in the trend. - The breakout from the flag should occur on increased volume, confirming the resumption of the uptrend. Once the bullish flag pattern is identified and confirmed, traders often use it as a basis for entering long positions, with stop-loss orders placed below the low of the flag pattern to manage risk. Additionally, the height of the flagpole can be used to set price targets for potential profit-taking, although this is not a strict rule. As with any technical pattern, it's essential to consider other factors such as market context, fundamental analysis, and risk management strategies when making trading decisions based on bullish flag patterns.Longby B9A-88652-NisarAhmad0
USDJPY Buy !!Ever since the time price got pushed up from the 151.852 support , it has continued the upward movement . the upward move however isn't supported by a lot of momentum , nevertheless price continues to strive upwards ! Price recently reached the 0.618 Fibo retracement of the last move downward and despite its effort to move downwards , continued the upward movement. the next Target is the pivot point at 156.282 , which would be my intended Target as well !Longby Myfxlobby1
Fundamental Market Analysis for May 10, 2024 USDJPYUSDJPY: USDJPY is trading near 155.70 on Friday in the early hours of Asian trading. Renewed demand for the US dollar (USD) is lifting the pair. However, verbal intervention and hawkish commentary from Bank of Japan (BOJ) Governor Kazuo Ueda may limit the decline in the Japanese Yen (JPY) for now. San Francisco Fed President Mary Daly said Thursday that the central bank may need more time to bring inflation back to target as uncertainty about inflation over the next few months has increased. Other Fed officials this week also indicated they favored keeping rates at current levels for longer. This, in turn, could lead to a stronger dollar and create a tailwind for USD/JPY. Financial markets expect the US central bank to hold policy for the rest of the year as it seeks "greater confidence" in inflation, with Fed Chairman Jerome Powell emphasizing that it may take longer than expected to achieve that confidence." Bank of Japan Governor Kazuo Ueda said on Thursday that the central bank will scrutinize the yen's recent weakness when setting monetary policy, according to Reuters. The hawkish comments raised expectations of higher short-term borrowing costs in the coming months, which provided some support for the Japanese yen and led to a decline in USD/JPY yesterday. Verbal intervention from the Japanese authorities is likely to limit the pair's near-term gains. Early Friday, Japan's Finance Minister Shunichi Suzuki once again said that he would take necessary measures against the foreign currency if necessary. Trading recommendation: Trade mainly with Buy orders from the current price levelLongby Fresh-Forexcast20041
The Rebound Effort of USD/JPY Hindered by Japan's Hawkish BiasSummary of Opinion: The Bank of Japan's (BoJ) opinions indicate that many key members advocate for a Japanese interest rate hike as inflation may persist longer or even surpass the target. The release of the Bank of Japan's Summary of Opinion document this morning revealed the possibility of Japan raising interest rates earlier than previously estimated. This hawkish bias restrained the rise of USD/JPY just below the 156.00 threshold in Thursday's (May 9) trading. The BoJ's Summary of Opinion shows that many key policy board members are calling for a stable interest rate hike. This is driven by the prospect of long-lasting inflation or even exceeding the central bank's 2% target. One member stated that the BoJ should raise interest rates in a "proper and timely manner" in line with increasing growth and price projections. "If the forecasts shown in our April quarterly report come true, the 2% inflation target will be achieved sustainably and steadily in about two years, and the output gap will turn positive," expressed another member. "Therefore, there is a possibility that our policy interest rates will be higher than current market expectations." On a separate occasion, BoJ Governor Kazuo Ueda outlined the possibility of raising interest rates several times in the coming months. He stated before the Japanese Parliament this morning, "If currency volatility affects, or risks affecting, inflation trends, (then) the BoJ must respond with monetary policy." Several hawkish signals from the BoJ have successfully countered the recent weakening of the yen — which occurred after the fading impact of Japanese interventions. USD/JPY halted its rebound efforts, while market participants reconsidered the prospects of Japanese interest rate hikes. GBP/JPY and EUR/JPY rallies also slowed down. Many experts predict that the BoJ will raise interest rates by the end of this year, but there are differing opinions regarding the timing, amount, and frequency. Some also argue that the BoJ will announce an intention to reduce large-scale bond purchases and begin shrinking its balance sheet — a relatively easier monetary policy tightening measure compared to a rate hike.Shortby Meldir_3
Sell USDJPY Channel BreakoutThe USD/JPY pair on the M30 timeframe presents a potential shorting opportunity due to a recent downward breakout from a well-defined bearish channel pattern. This breakout suggests a shift in momentum towards the downside and a higher likelihood of further declines in the coming hours. Key Points: Sell Entry: Consider entering a short position (selling USD/JPY) below the broken support level of the channel, ideally around 155.60 after confirmation of the breakout. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 154.74: This represents the first level of support within the channel. 154.27: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 156.60. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank youShortby KABHI_FOREX_TRADINGUpdated 225
USDJPY surged to multi-decade highs around 154.80Earlier in the week, USDJPY surged to multi-decade highs around 154.80 before retracing slightly from those lofty levels as the weekend approached. If the downward reversal gains traction in the upcoming trading sessions, support looms at 153.20 and 152.00 thereafter, with 150.80 possibly becoming a focal point if these price thresholds are breached. On the flip side, if USDJPY resumes its climb, resistance is likely to materialize near 154.80, followed by 156.00, the upper boundary of a short-term rising channel in place since December of last year. While the pair maintains a bullish outlook, it's essential to proceed with caution given the overbought market conditions and the increasing probability of FX intervention by the Japanese government. by Xayah_tradingUpdated 6
USD/JPY: Eyeing Downside PotentialHello Everyone, The USD/JPY appears poised for additional downward movement, with the next significant level to watch being the weekly pivot point. While current indications suggest a bullish continuation, there's potential for a shift towards a bearish trend, setting the stage for another downward wave. TradeWithTheTrend3344Shortby TradeWithTheTrend33441
USDJPY Friday planUSDJPY is on the way to perform a massive drop on the long term, but actually i am looking to scalp it on this boring friday. I am waiting a possible long setup, that could start with a little drop till the support zone 154.75, and here i expect a bounce. Only if the price will start to bounce there, i will look for a long tomorrow, at the beginning of the NY sessionLongby CryptoForexGem2
USDJPY - 4hrs ( Sell Trade Target range 240 PIP ) Pair Name : USD/JPY 🗨Time Frame : 4hrs Chart / Close ➕Scale Type : Large Scale ------ 🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money ✔️ Key Technical / Direction ( Short ) Type : Mid Term Swing ——————————— Bearish Retest 155.500 Area Reasons - Major Turn level - Choch Zone - Fibo Golden - Fixed Range Hvn - Visible range Hvn - Quarter's Area Bullish Reversal 153.000 Area Reasons - Major Turn level / W - Pattern Target - Channel Lower Band - Choch Zone / D - 3Quarter + 2 Quarter high - year High AraeShortby GoldenEngine75
Usdjpy upThe USD/JPY pair has still some room to fall, though a very lucrative entry level for Dollar bulls is just around the corner. Around 152.00, not only a pivotal level and the 55-day Simple Moving Average (SMA) is nearby, but also there is a long-term ascending trend line just beneath to provide support. This makes it the perfect entry level for any US Dollar buyers who foresee USD/JPY heading back to 160.00. USD/JPY bounces of key level in softer NFP print The Japanese Yen is set to lock in a staggering performance for this week against the US Dollar. The Yen has appreciated over 3% following Japan’s intervention to propel the currency and the Fed’s less-hawkish rhetoric. The US Dollar Index slips below 105.00 with softer NFP print. Longby Mark_798Updated 4499
USD JPY DAILY $HORTTechnically speaking 155-156 area acted as a critical support for a movement towards 160 last week. testing 156 and loosing momentum was the name of the game for UJ at this current moment. there were rumors of BOJ being the one selling UJ from 160 area and this has reduced bulls confidence. if 156 proves to be stiff , there might be U turn from here towards 152 area where the base support was established long time ago. on the other hand if labor market data in US keeps disappointing , FEDS will probably cut rates even if inflation stands tall. next week inflation data will guide the market even more. Any strong break above 156 will keep the chances of another 160 open. better to have a SL above 156 area to avoid market noise.Shortby THE-real-DealUpdated 5
Bullish market (depends on DXY strength)Esteemed analysts and traders, I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own rules. As a supporter of the Elliott Wave Principle, I consider this methodology an invaluable tool for market analysis. After three years of personal experience, I have developed my approach by combining this principle with meticulous consideration of different market scenarios. I strive to avoid market surprises by maintaining a range of market prospects, which enables me to recognize the market structure forming with 100% accuracy. I am pleased to share my analysis with you, with the caveat that I do not provide buy or sell signals. My perspective on idea analysis is entirely impartial, and if my analysis meets your standards, it may serve as a guide to making an informed decision. For your reference and comparison, I have attached my previous analysis of the same market. All the details of my analysis are clearly labeled for ease of comprehension. Nonetheless, familiarity with the Elliott Wave Principle theory would facilitate an understanding of the analytical idea. My study of the Elliott Wave Principle took nearly three years, during which my understanding and experience with this invaluable tool have grown. My progress thus far is a testament to the legacy of Ralph Nelson Eliot, whose genius has provided the foundation for my achievements. May he rest in peace. I express my gratitude for your continued support and kindness, and welcome your comments and critiques. May my analysis be a valuable asset to your business journey, and I remain sincerely yours, Mr. Nobody Longby mehdi47abbasi797
USDJPY POSSIBLE SELL OPPORTUNITY Price is set to drop as it’s seen trading around 155.556 level. A sell opportunity is envisaged from the current market price in h1 timeframe Shortby Cartela3
USDJPY - UK LONGSUSDJPY - Long for UK session.... And then NY session.... Will follow what we did there. Longby InForMe_Analysts1
Bulls and BearsAll ideas are strictly my interpretation of price action. I am not a professional trader nor is this professional advice. I will continually update all trades.Shortby THE_APIS_TRADERUpdated 4
UJ H 4 $HORTTechnically speaking 155-156 area acted as a critical support for a movement towards 160 last week. testing 156 and loosing momentum was the name of the game for UJ at this current moment. there were rumors of BOJ being the one selling UJ from 160 area and this has reduced bulls confidence. if 156 proves to be stiff , there might be U turn from here towards 152 area where the base support was established long time ago. on the other hand if labor market data in US keeps disappointing , FEDS will probably cut rates even if inflation stands tall. next week inflation data will guide the market even more. Any strong break above 156 will keep the chances of another 160 open. better to have a SL above 156 area to avoid market noise.Shortby THE-real-DealUpdated 3
World shares climb on Fed cut bets, China gains; yen weakensAccording to Brent Donnelly of Spectra Markets, the US dollar appears increasingly susceptible due to a combination of heavily skewed speculative positions and early signs of softening in certain US economic indicators. Last week, the USD saw a general decline following a surprisingly dovish Federal Open Market Committee (FOMC) meeting. The Fed indicated a more significant reduction in quantitative tightening starting in June, and Fed Chair Powell consistently downplayed the likelihood of rate hikes. Additionally, recent data suggests that the Fed might maintain higher interest rates longer than previously expected, amidst weakening job and wage growth. Conversely, the Japanese Yen lacks strong fundamental backing as the Bank of Japan (BoJ) may struggle to raise interest rates further due to slowing inflation. However, the Yen could find some temporary relief from hawkish tones regarding the scaling back of the quantitative easing program. Despite these factors, the USDJPY FX:USDJPY pair is expected to maintain its upward trajectory, bolstered by the Fed's prolonged high-rate policy and positive global growth forecasts. Technically: On the daily chart, USDJPY has rebounded from a significant support zone between 152.00 and 152.85, reinforced by the convergence with the trendline. This movement was catalyzed by buyers capitalizing on the dip following the U.S. NFP report miss, which largely did not alter the broader market outlook. For sellers to shift the market sentiment and initiate a bearish trend, the price must break below the trendline, specifically through the levels at 152.00 and 150.77. If achieved, this could set the stage for targeting new lows, with 146.00 as the primary objective. Pivot line: 152.855 Resistance line: 155.77, 157.80, 159.82 Support line: 151.69, 150.77, 146.40 The expected trading range is between support 150.77 and Resistance 155.77 previous idea: by SroshMayiUpdated 6