The Japanese Yen finds itself in a precarious position, facing the strongest selling pressure in 17 years. Net yen shorts, a measure of bearish bets, have skyrocketed to their highest level since January 2007 . This relentless shorting comes as the Yen precariously approaches a key psychological barrier: 152 Yen per US Dollar.
A Perfect Storm for the Yen...
Hello Everyone 🙋🏽♂️
Triangle pattern + RSI Signal
💲 Entry Point : 143.571
🟢 TP 151.922 🔴 SL 139.473
We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone,
manage your lot size as well and your SL and TP and my opinion is 0.01 lot for each 500 $.
Don't forget to hit the like bottom and...
USDJPY may retrace from a key daily horizontal resistance
based on the year's high.
As a confirmation, I see a double top formation with a confirmed
neckline violation.
Goals: 151.4 / 151.15
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UPDATE
We got into a trade to the downside but pulled out because of SL in profit but for the idea we had, we did well and we did fair. This is not your fathers market hence we put SL into profit.
In general, USD/JPY is still in an upward trend, but in the Tuesday's US trading session, the price began to decline to the level of 151.75. This may indicate short-term volatility in the market.
Based on technical analysis, we can see that the price has broken through the SMA 20 and SMA 50 moving averages. This suggests that the short-term downward momentum may...
USD/JPY began to retreat after reaching a high of 152.00 in Tuesday's US trading session, bringing the pair down to 151.75. This adjustment followed comments from BoJ Governor Ueda.
On the chart, technical indicators have shown signs of support for the downward trend. Specifically, prices have broken through the SMA 20 and SMA 50 moving averages, indicating a...
The USD/JPY currency pair surged to a high of 152.000 following comments from BoJ Governor Ueda. His stance indicated that the BoJ is in no rush to raise interest rates, diminishing the attractiveness of the Yen.
However, the USD/JPY price began to decline to 151.75 during Tuesday's US trading session. This suggests signs of a short-term downturn, particularly as...
Analyzing USDJPY, I've pinpointed a compelling SHORT opportunity. The pair has shown signs of topping out, facing resistance at a key level and starting to form bearish patterns, suggesting a potential reversal. Technical indicators support this view, with a bearish divergence on the RSI and a MACD line crossing below the signal line, signaling a loss of bullish...
Markets feel as if they’re on hold now ahead of tomorrow’s US CPI update. This has gained additional significance following comments from Federal Reserve members last week. Some have said that the recent stalling of the decline in inflation, together with robust economic data releases, means that it’s far too early to consider cutting rates. That was the view...
On the 4 hour chart, we can see that the price has been ranging between the 151.00 support and the 151.92 resistance as the risk of an intervention put a lid on further gains. The price recently rallied back into the resistance and it’s now pressing on it threatening a breakout. Even if we get a breakout, it would be better to wait for the US CPI report tomorrow
Please, check our technical outlook for USDJPY.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 151.899.
Taking into consideration the structure & trend analysis, I believe that the market will reach 151.384 level soon.
P.S
We determine...
USD/JPY, H4 9 April 2024
The Japanese yen faced downward pressure following reports of continued declines in real wages for Japanese workers, marking the 23rd consecutive month of decrease. This trend, indicating the impact of higher prices on consumer spending, saw inflation-adjusted real wages fall by 1.3% in February, following a revised decline of 1.1% in...
DAILY
151.20 this is our ceiling and we are fighting to breakthrough this price. If we do, then we having a cool time. Yet look out for the drop should the dollar index decide otherwise.
4H
151.70, we are bouncing here and this is supporting our push to the upside. It still is not enough for us to place trades (longs), we just wait for more...
USDJPY
NEW forecast
For a long time, the USDJPY price has been trading in the same zone between 151.85 and 151.16, without any breaking.
For today, it looks like the price is trying to be bullish to get to the top resistance level of 151.85. Breaking this level will support the price to reach the next station at 153.04.
Otherwise, under 151.16, by closing the...
