USD JPY TRADE SETUP. USD JPY is moving in an uptrend which means its making Higher Highs and Higher Lows. To get a buy entry we need to see a retest of the broken High level, entry will be based on candlesticks confirmation at the retest level.Longby OfficialUBKFX0
Fundamental Market Analysis for June 26, 2024 USDJPYUSDJPY: Japan's Deputy Finance Minister Masato Kanda confirmed that the government is ready to take appropriate measures if excessive currency fluctuations have a negative impact on the national economy. However, Kanda's comments had minimal impact on the Japanese Yen (JPY) exchange rate amid the Bank of Japan's reluctance to provide a detailed plan to reduce bond purchases. This is a significant divergence from the hawkish stance of the Federal Reserve (Fed) and suggests that the path of least resistance for the USD/JPY pair lies to the upside. Amid the Fed's hawkish pause in June, recent comments from policymakers indicated that the central bank is in no hurry to start a rate cut cycle. Fed Chair Michelle Bowman on Tuesday reiterated her view that keeping rates steady for some time is likely to be enough to bring inflation under control. Fed Chair Lisa Cook said lower interest rates would be appropriate "at some point" given the significant progress in inflation and the gradual cooling of the labor market, but did not elaborate on the timing of the easing. Nevertheless, signs of easing inflationary pressures in the US keep hopes alive for the Fed's first interest rate cut in September. This, in turn, keeps dollar bulls away from aggressive bets and limits the upside potential of the USD/JPY pair. Traders also prefer to stay on the sidelines ahead of the final US GDP data for the first quarter on Thursday, which will be followed by the publication of the Personal Consumption Expenditures (PCE) price index on Friday. The latter indicator will influence the Fed's further decision and will determine the near-term trajectory of the currency pair. Trading recommendation: Trade mainly with Buy orders from the current price levelLongby Fresh-Forexcast20040
USDJPY bullish wedge developingAsian Session Update: USDJPY grinding higher into the wedge resistance near 160.00, only back below the 159.50 level takes the pressure off intraday. Looks like stops above 160.00 could come into view. Longby ForexAnalytixPipczar0
UJ - Longer term tradesFor the fun of it - here is a look at 4H…. So markup the close of the first color bar after the white - and now we go lower to find entries and trades. I gave a white gorizontal line - just to have reference of where the new 4H candle opened in order to get the lower TF entries from there. Longby InForMe_Analysts220
Fundamental Market Analysis for June 25, 2024 JPYUSDThe GBP/USD pair demonstrated bullish sentiment on Monday, rising from recent lows to 1.26500 as markets commenced the new trading week with an appetite for risk. The week ahead will see a dearth of key economic data, so those trading in the cable will be keeping an eye on important calendar releases that will not be released until later in the week. The US and UK gross domestic product (GDP) data are scheduled for release at the end of the trading week, followed by the US personal consumption expenditure (PCE) price index data on Friday. The Tuesday release schedule is limited to averages, so markets will focus on statements from central bank policymakers. The Federal Reserve's few comments on Monday caused a minor jitter in markets, and the same is expected on Tuesday. On Monday, Federal Reserve Bank of San Francisco President Mary Daly observed that the 2024 inflation figures do not instil much confidence when viewed in aggregate, although recent data offers grounds for optimism. Fed Chair Daley's comments followed those made earlier by Federal Reserve Bank of Chicago President Austan Goolsbee, who expressed optimism about further progress on inflation. He noted that Fed policy remains sufficiently restrictive. Trading recommendation: Trade mainly with buy orders at the price level of 1.27000. We consider sell orders at the price level of 1.26600.by Fresh-Forexcast20040
USD/JPY Bullish Outlook Amid Heavy Selling PressureHello Everyone, The USD/JPY pair is expected to be bullish, potentially reaching the 162-164 range. However, there is currently significant selling pressure. TradeWithTheTrend3344Longby TradeWithTheTrend33441
USDJPY - LONG 1:5RRUSDJPY wants to liquidity-hunt all time highs before going back down again. Overall bias: BullishLongby wdfdfhjt0
Market News Report - 23 June 2024Introduction The Japanese yen continues to take a beating in the forex markets. Meanwhile, the Aussie and Canadian dollar were the strongest currencies in the past week. USD was the surprise from our initial short-term outlook thanks to a meagre rise in Retail Sales. Read on to learn about what happened in forex last week and what to expect for this one. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: weak bearish. The Fed recently indicated that we should expect at least one interest rate cut instead of three this year. On the bright side, the Fed sees inflation moving in the right direction. This is due to progress in the latest CPI (Consumer Price Index) and PPI (Producer Price Index) readings. Interestingly, the technicals tell a different story. The Dixie looks to test the major resistance at 106.490, while the major support is far below at 103.993. So, from a technical perspective, the dollar is more bullish than bearish. Long-term outlook: weak bearish. Traders will look forward to the new data on PPI in mid-July, which is expected to have a negative result. Along with an anticipated rate cut, these would be the two bearish drivers for the greenback in the long term. However, the technicals are against this outlook, hence the ‘weak bearish’ bias. Euro (EUR) Short-term outlook: weak bearish. The euro continues to suffer from the recent interest rate cut by the European Central Bank. However, incoming data, such as a boost in inflation at the start of next month, could marginally improve the weak bearish bias. The 1.06494 support area continues to sustain the euro. However, considering the fundamental evidence, the market will still seek to retest this area. Although the key resistance is at 1.08524, the price will likely visit the support instead. Long-term outlook: weak bearish. No high-impact news is expected this week for the euro. The bearish bias remains intact. However, incoming growth in data like inflation could rescue the currency. Furthermore, US monetary policies have often impacted the euro both ways, meaning this is something to consider in your analysis. British pound (GBP) Short-term outlook: bearish. As predicted, the Bank of England left the interest rate unchanged at the June 20th meeting. Furthermore, STIR (short-term interest rate) markets suggest a 43% chance of a rate cut in August. As it did last week, the British pound has broken another minor support area. Still, the key support level is some distance away at 1.24457. On the other hand, the key resistance lies high up at 1.28606. While the gap between these two points is wide, it makes more sense to have a bearish outlook when accounting for the fundamentals. Long-term outlook: bearish. Like the short-term outlook, the interest rate is the primary bearish driver for the pound. Traders will look forward to statements from Andrew Bailey (the Governor of the Bank of England) this week, as any indications of a rate cut in August would likely send GBP lower. Japanese yen (JPY) Short-term outlook: weak bullish. The ‘weak bullish’ aspect is due to the Bank of Japan’s recent decision to keep the interest rate unchanged, with STIR markets forecasting a hike next month. The yen continues to be a huge loser and is nearing its all-time high at 160.233 (key resistance). Even though the short-term outlook is favourable for the yen, this market is quite bullish. The key support remains at 154.546. But it would take a miracle for USD/JPY to get anywhere near this area. Long-term outlook: weak bullish USD/JPY is an interesting case. On the one hand, there is mild bullishness due to the expected rate hike next month. Furthermore, catalysts that push US Treasury yields lower (e.g., weaker jobs data, lower core PCE) would also be positive for the yen. However, things don’t look rosy on the charts. To combat this, the Ministry of Finance in Japan has hinted at intervention once the yen exceeds a price of 160. Australian dollar (AUD) Short-term outlook: weak bullish. The recent Reserve Bank of Australia meeting on June 17 recognised that inflation is persistent. This is an impetus for the central bank to hike interest rates in August 2024 or, at the very least, leave them untainted, as they’ve done since November 2023. The Australian dollar shares an interesting correlation with China. Data indicating growth in this region (stimulus, new infrastructure projects, solid economic data, etc.) should boost the former. Despite the bullish outlook, the Aussie finds itself in a range, with 0.67141 as the key resistance. Conversely, the key support is at 0.65580. The support that lies below the range would be an area of interest in the short term. However, fundamentals indicate a likelihood for the Aussie to move more bullishly. Long-term outlook: weak bullish. As hinted in our last report, the RBA kept the rates unchanged. Still, a weak result in the upcoming CPI (linked to inflation) may encourage more bears. Furthermore, the Australian dollar is exposed to slow economic growth in other countries. New Zealand dollar (NZD) Short-term outlook: weak bullish. Unsurprisingly, the Kiwi mirrors the sentiment of the Aussie. The Reserve Bank of New Zealand (RBNZ) is also battling inflation. So, there is an incentive to be hawkish. However, as with AUD, NZD is a risk-sensitive or pro-cyclical currency, especially in relation to developments in China. Like its neighbour, the Kiwi is in a range. The only difference is that this market is near minor support (0.62219) instead of major resistance (0.62219). So, NZD appears a bit bearish on the charts compared to the Aussie. Long-term outlook: weak bullish. The hawkish stance suggested by the RBNZ is the key bullish catalyst. Still, any out-of-consensus CPI prints in the near term and sensitivity to other global economies like China could derail the currency. Canadian dollar (CAD) Short-term outlook: weak bearish. STIR markets indicate a 50/50 chance for the Bank of Canada to cut rates next month. The upcoming CPI event (on 25 June 2024) will be significant, where negative numbers would likely push CAD lower and reassert the BoC’s stance on dropping the interest rate. Conversely, a big beat in CPI, along with an upside in oil this week, may boost the Canadian dollar. USD/CAD is in a range as with the Aussie and Kiwi charts. The key resistance is at 1.37919, while the key support lies at 1.35896. Given that USD and CAD exhibit bearish fundamentals, this market can go either way. Long-term outlook: weak bearish. The long-term outlook is the same as the short-term. Expectations of a rate cut remain the centre of bearish attention. However, CAD may be redeemed with positive CPI data and oil prices. Swiss franc (CHF) Short-term outlook: weak bearish. STIR markets were predictably accurate with their 76% chance of the Swiss National Bank (SNB) cutting the interest rate last Thursday. Secondly, SNB expects moderate improvement in inflation and GDP (Gross Domestic Product) and unemployment to rise slightly in the near term. USD/CHF began last week by breaking a key support area at 0.88810. However, the latest expected rate cut for the Swiss franc’s interest rate caused a U-turn in this market. Now, USD/CHF’s key support and resistance levels lie at 0.88268 and 0.91582, respectively. Long-term outlook: weak bearish. The expected rate cut in the next SNB meetings (in September and December 2024) is the key bearish driver for the Swiss. However, the bank's willingness to intervene and geo-political events may give the latter some upside. Conclusion Can the Aussie, Kiwi, and CAD break out of their ranges? Will USD/JPY reach 160 or higher? What will Bailey say? These are interesting questions that should be answered this week. Hopefully, this report has prepared you in the simplest way on both the technical and fundamental side of things. by CityTradersImperium_CTI0
Retail Traders Poised for Yen Rebound - Consider Shorting USDJPYI am writing to bring to your immediate attention a critical development in the forex market that could present a significant trading opportunity. As many of you are aware, the recent slide in the Japanese yen has been a point of concern. This depreciation has heightened the probability of Japan intervening in the market once more to stabilize its currency. Historical patterns suggest that such interventions can lead to rapid and substantial movements in the yen's value. Currently, it appears that retail traders are reloading their bets in anticipation of a rebound in the yen. This collective action underscores a growing sentiment that the yen is poised for a recovery, potentially driven by governmental measures to curb its decline. Given these circumstances, it may be prudent to consider positioning yourselves for this anticipated rebound. Specifically, shorting the USD/JPY could be a strategic move. By doing so, you could potentially capitalize on the yen's resurgence if Japan steps in to support its currency. I urge you to review your portfolios and assess the potential benefits of shorting USD/JPY in light of the current market dynamics. As always, ensure that any trading decisions are made with careful consideration and risk management. Stay vigilant and informed. The forex market is highly dynamic, and timely actions can make a significant difference. Shortby bryandowningqln0
USD/JPY Daily AnalysisThe 160 price point proved to be too much for the buyers at the end of April this year. The end of last week closed 17 pips shy of the big number. Will we see a reversal like we did when price tested and rejected the 152 wick high?by FusionMarkets0
USDJPY Swing Trade IdeaBased on previous price action and upcoming news on Monday, my swing trade Ideology is based on a bearish sentiment. The last time we were at this price action we seen an heavy rejection. I plan on taking a swing trade until we find another trend direction. While taking scalps at minor S&R areas. Short06:03by Trading_Buddy_1011
USDJPY TRADE SETUPwait for retest the key level then take a trade for Buy otherwise skip this setupLongby JinnatAlamSumon0
USDJPY BUY LONGFor seasoned traders looking at the USD/JPY pair, the presented 15-minute chart signals a potential long entry upon a bounce from the confluence of the rising trend line and key moving averages — an EMA and SMA — serving as dynamic support. The defined buy zone is demarcated in green, while the stop-loss threshold is designated in red beneath the trend line and moving averages, managing downside risk. Traders might target the upper boundary of the green rectangle for profit-taking, leveraging the bullish trend continuation narrative underscored by the supporting EMA/SMA framework. This setup caters to those employing a confluence-based approach, integrating price action, trend line support, and moving average indicators for entry confirmation and trade management.Longby ForexPrime447Updated 1
Usdjpy Trading IdeaUsdjpy is trading in the upward trendline channel and now trading in the edge of the channel. I expect that it will move downward to touch the lower line of the channel and then bounce back.Shortby rahmat0560
ideakeep an eye out for this potential move to gain some pips. my indicator has been golden on some big moves This Is An Educational + Analytic Content That Will show entry ideas for trades. Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For educational Purpose to Traders To Make Independent Investments Decisions. Disclaimer The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingViewby kF_pippinright0
USDJPY - TODAY After the move from this morning - here is an update…. Look at the entries and SL - now think if you had access to this today based on the trades we shared. Like and Follow for more - access coming in July 2024.Longby InForMe_Analysts0
USDJPY DEMAND INCREASESPrice continues to surge higher! Price. Currently trades at ¥158.953. Buyers would likely push the market higher. I would position myself accordingly to take advantage of the buy opportunity that all emerge from this market.Longby Cartela0
Long trade Monday 17th June 24 3.00am Tokyo Session 15min TF Entry 157.451 Profit level 158.548 (0.70%) 109.5 PIPS Stop level 157.126 (0.21%) 32.5 PIPSLongby davidjulien369Updated 0
USD/JPY ANALYSIS TODAY 1 HOURE TIME FRAME.MY PRICE ACTION STRATEGY. Follow the market trends . Follow risk management . Don,t trade without stoploss. Always follow your strategy.by ovibiswas0
Bullish continuationConfluence: Daily = Bullish ( recent expectation counter bearish pullback after the structure break ) 4hr = Bullish bullish cont. from the recent area of demand zone to take out the weak HH. until the LTF bias does not align with the daily bias following the 4-hour structure.Longby fxtrends280
USDJPY M45 Idea- The USDJPY is poised for an initial target of 157.000, with favourable buying opportunities. Longby GOLDFXCC0