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USD/JPY – Surging yen improves to 15-week highThe Japanese yen continues to rally. USD/JPY is trading at 148.86 in the European session, down 0.31% on the day at the time of writing. On Thursday, the yen strengthened as much as 148.50, its best showing since May 11. Only three weeks ago, the yen looked dead in the water. USD/JPY was trading just shy of 162, its highest level in almost four decades. Since then, the yen has been on an absolute tear, rising a staggering 7.9%, including 3.1% this week. What is driving the yen’s spectacular turnaround? First, the Bank of Japan raised interest rates this week to 0.25%. Although rates remain at low levels, this rate increase, the second since March, indicates that the BoJ is slowly making the shift to normalization after decades of an ultra-loose accommodative policy. The BoJ also announced it would taper its bond purchases, which is another tightening step. Second, investors have become less enthusiastic about the US dollar now that a September cut is looking very likely and are looking to park their assets elsewhere. The US economy is showing some signs of weakness, such as this week’s ISM manufacturing PMI for July, which posted the sharpest contraction since November 2023. This has driven funds away from the US dollar towards safe-haven assets such as the yen. Today’s nonfarm payrolls are expected to fall from 206 thousand to 175 thousand, which could further boost the yen at the expense of the US dollar. This week’s BoJ rate hike showed that change is afoot in Japan and the government’s annual white paper on economic and fiscal policy, which was released today, supported that view. The white paper said that Japan was showing signs of breaking out of deflation, noting that businesses were now passing on costs to consumers due to increased costs from the yen’s sharp decline. . USD/JPY continues to break below support levels. Earlier, it pushed below support at 149.19 and is testing support at 148.72. Below, there is support at 149.59 150.03 and 150.44 are the next resistance lines
by OANDA
USDJPY to Nearly 4-Month Lows on Shifting Policy DynamicsThe Bank of Japan followed a cautious and slow path away from the ultra-loose monetary setting after abandoning the negative rates regime and the yields curve control, in the historic decision of March. But price pressures persisted, wages increased substantially after the spring negotiation and the Yen was further devalued, forcing officials to step up their tightening efforts. They hiked rates for the second time in this cycle, to around 0.25%, while pointing to more moves ahead if the economy evolves as anticipated. Furthermore, they announced a plan to slash their bond purchases, so that they will halve by Q1 2026. After hitting 38-year highs at the start of the month, USD/JPY reversed course due to Japan’s FX interventions rising expectations for BoJ hikes and increased optimism around Fed cuts. The forceful action by the Bank of Japan along with the Fed opening the door to a September pivot this week, exacerbated the decline to the lowest levels since mid-March. The pair is now exposed to 146.47 and the shift in monetary policy dynamics can fuel further weakness. On the other hand, BoJ warned it could increase bond purchases again if needed, while market pricing for three cuts by the Fed may be stretched. Furthermore, the rate differential remains wide and the favorable carry trade could persist. The Relative Strength Index is oversold and this can drive a rebound above the 200Days EMA (blue line), but 200H4 EMA (black line) looks much harder. Focus now shifts to Friday’s US NFPs which are becoming increasing important for the policy path, as disinflation is back on track. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”), previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
by FXCM
USD/JPY – Yen goes on a tear after BoJ rate hikeThe Japanese yen continues to sparkle. USD/JPY is trading at 150.27 in the European session, down 1.62% on the day at the time of writing. Earlier, the yen strengthened to 150.04, its highest level against the dollar since March 19. The Bank of Japan showed an aggressive side rarely seen at today’s meeting. The BoJ raised the benchmark rate to around 0.25%, up from the previous range of between 0% and 0.25%, its highest level since 2008. The move was considered aggressive, as the markets were uncertain whether the central bank would raise rates or continue to hold. The BoJ tempered the hike by noting in the rate statement that it expects real interest rates to remain “significantly negative” and that it will continue an accommodative policy to boost the economy. Still, this marks the second rate hike since March and demonstrates that the BoJ is serious about tightening policy and keeping inflation in check. Overshadowed by the dramatic rate hike, the BoJ announced it will taper its Japanese government bond purchases in half by the first quarter of 2026. The move will barely make a dent in the Bank’s bond holdings, but nonetheless indicates a shift in policy and the intent to unwind its massive monetary stimulus. The Federal Reserve will hold its policy meeting later today. It’s virtually certain that the Fed will maintain rates for a seventh straight time but that doesn’t mean today’s meeting will be a sleeper. Investors will be carefully following the rate statement and Jerome Powell’s follow-up press conference. Today’s meeting is a good opportunity for the Fed to set up a September rate cut, which the markets have fully priced in. USD/JPY has pushed below support at 152.70 and 151.38. Below, there is support at 149.59 154.49 and 1.5581 are the next resistance lines
by OANDA
Pre-FOMC Rates Decision Analysis31st July (FOMC Decision Pending) DXY: Ranging between 104.20 and 104.55. If Fed makes no comment on rate cut, DXY could push up to 105.20. If Fed makes comment on rate cuts in Sept, DXY could push down to 103.65. NZDUSD: Buy 0.5930 SL 20 TP 50 (DXY weakness) AUDUSD: Sell 0.6450 SL 25 TP 90 (DXY strength) USDJPY: Sell 151.50 SL 70 TP 245 (DXY weakness) GBPUSD: Sell 1.28 SL 20 TP 65 (DXY strength & BoE decision tomorrow) EURUSD: Sell 1.08 SL 20 TP 55 (DXY strength) USDCHF: Sell 0.8820 SL 20 TP 70 (DXY weakness) USDCAD: Buy 1.3850 SL 20 TP 45 Gold: Needs to break 2425 to trade up to 2450 (DXY weakness)
TVC:DXY
by JinDao_Tai
2
Will BoJ support Yen with a rate hike today?Macro theme: - On Wednesday, the BoJ announced an interest rate increase and a bond tapering plan, reflecting confidence in the domestic economy's recovery and concern over the weakened yen. - The BOJ raised the uncollateralized overnight call rate to 0.25%, marking the second rate rise this year after the Mar 19 increase, which ended negative interest rates, equity purchases, and yield curve controls. Technical theme: - USDJPY shifted its structure downward after breaking its support at 151.90. The price is trading below both EMAs, which is about to have a dead-cross signal, indicating that bearish momentum persists. - If USDJPY cannot sustain above 151.90, it may extend its loss to 150.80 and 146.50. - On the contrary, if USDJPY finds support at 151.90, the price may perform range trading within 151.90-155.80 till an apparent breakout occurs.
by DatTong
Implied volatility for USD/JPY spikes ahead of BOJ, FOMCThis time tomorrow we will finally know the outcome of the BOJ and FOMC meetings. Options traders clearly have it on their radar, as the 1-day implied volatility band has expanded to nearly 4x its usual range (defined with a 20-day average). But with bets of a hike already accompanied with a much weaker yen, traders may also want to be on guard for the potential the hike is already priced in. Or that the BOJ don't hike at all. The latter scenario could also help USD/JPY bounce quite hard heading into the FOMC meeting, where a loss-dovish-than-expected Fed could send it higher still. There is a support zone between 151.30 - 152 made up of several technical levels including a high-volume node, previous MOF intervention level and the 152 handle itself. Bulls could seek cheeky longs around such levels heading into the BOJ meeting and look to exit prior. Or hold on if they think the BOJ will disappoint (which they tend to do these days at their meetings). and that could see 152 act as a springboard. However, the 151.30 - 152 zone could quickly turn into an opened trap door should the BOJ deliver the hawkish meeting alongside a dovish tone from the Fed that markets are so desperately seeking.
by CityIndex
BOJ Decision Countdown: Potential 15-Basis Point Rate Hike LeakBOJ Decision Countdown: Potential 15-Basis Point Rate Hike Leaked The Bank of Japan is reportedly considering a 15-basis point interest rate hike, surpassing market expectations of a 10-basis point increase or no change at all, according to NHK. This comes as the U.S. Federal Reserve contemplates a rate cut, potentially as soon as September. This could be why we are seeing what we are seeing on the USDJPY chart, with the yen rebounding from 38-year lows. The yen has jumped from around 162 per dollar in mid-July to approximately 153 per dollar, marking its most significant two-week gain of the year. Despite this, over three-quarters of economists surveyed by Reuters two weeks ago expect the BOJ to maintain rates at today's meeting. Some experts, including former BOJ board member Takahide Kiuchi, attribute this interest rate inertia to the weak underlying factors driving price movements.
by BlackBull_Markets
Levels discussed on Livestream 30th July 30th July DXY: Needs to stay above 104.50, could trade higher to retest resistance at 104.85, beyond resistance, next level at 105.20 NZDUSD: Sell 0.5920 SL 20 TP 45 AUDUSD: Sell 0.6565 SL 15 TP 45 (Hesitation at 0.6545) USDJPY: Look for price to find key level, reaction at 154 or 156 (BoJ news pending) More likely at 156 GBPUSD: Sell 1.2840 SL 25 TP 60 EURUSD: Buy 1.0840 SL 30 TP 60 (DXY weakness, double bottom, low likelihood) USDCHF: No trade, but look for reaction at 0.8920 USDCAD: Sell 1.3830 SL 20 TP 45 (Massive counter trend) Gold: Likely to consolidate along 2390, with upside potential to 2400 (61.8%)
TVC:DXY
by JinDao_Tai
Pressure Builds Ahead of Major Central Bank Marathon It's a huge week for central banks with the Bank of Japan (BOJ), Federal Reserve (Fed), and Bank of England (BOE) set to deliver their decisions within a 32-hour window. Market activity remains largely subdued in anticipation. The BOJ’s decision is the most unpredictable. Current market sentiment suggests a ~60% likelihood of a 10-basis point hike and a ~40% chance of no change. A lack of action could undermine the yen's recent gains with a potential resistance at 155.30 (100 MA). The Fed's announcement is scheduled for Wednesday. Market expectations for a rate cut are just 5%. Investors are keenly awaiting any signals regarding a potential move in September. Finally, the Bank of England has the market guessing with an almost 50 –50 chance for a cut. GBP traders are also digesting a key speech from the new finance minister Rachel Reeves in which she unveiled plans for some spending cuts/ or tax increases to fill a £22bn spending shortfall that was 'covered up' by the Conservative government. Traders now also have 30th October to look forward to as the date of the autumn budget.
by BlackBull_Markets
USDJPY Subdued at Key Tech as Fed & BoJ LoomThe pair comes from its longest losing streak of the year (four week), correcting from its 38-year peak at the beginning of the month. It tests crucial technical levels provided by the 200Days EMA (blue lines) and the 38.2% Fibonacci of the rally from the December 2023 low to the aforementioned high. This creates risk for deeper decline towards the 61.8% Fibo that would bring 146.47 in the spotlight. On the other hand, USD/JPY tries to defend this support cluster, above which it can push for EMA200 (black line). Retaking it would give bulls control and the opportunity to challenge 161.94, although the upside does not look particularly friendly. Other than intervention speculation, the USD/JPY slide is a result of the shift in the monetary policy dynamics and this week’s decisions by the Fed and the BoJ can determine the pair’s trajectory and spur volatility. The Bank of Japan has followed a slow and cautious path to normalization after the March exit form negative rates and there is mounting anticipation for bolder action this time around. Markets see policymakers announcing a reduction in bond purchases and there are also expectation for another hike, but the latter appears to be more contentious. Such action could help the Yen’s rebound, but BoJ has shown apprehension and has surprised markets before. The US Fed on the other hand appears to be coming closer to a rate cut following the resumption of disinflation and moderation in job gains. Markets are aggressively pricing three moves this year and expect policymakers to lay the ground for a Fed pivot at this week’s meeting. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”), previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
by FXCM
Beginning of the AJ Bull's END?!Here I have AUD/JPY on the Daily Chart! Beginning in March of 2020 to what seems to be the new High @ 109.372 in July of 2024, we have seen the end of the 5th Wave of Elliot's Impulse Wave! With Prices steep decline to the new LOWER LOW @ 99.209, knocking out the Low of June and Testing the Low of May, these are the conditions needed for what could potentially turn into a Correction Wave!!! The Sellings have BEGUN! -You can see that the RSI after this enormous drop in price Breaking Lows ( Structure) is now operating under the 50 mark & Oversold! -The BB Trend is now printing Red Bars showing signs of Bears in the vicinity! Where might Price go?? -If 99.209 is our True Lower Low we will be working with, I suspect price will make a STRONG retracement! *Potential Retracement Levels* ( 103.091 - 103.691 ) - Golden Zone ( 104.291 - 105.490 ) - 50% / 38.2% -Fundamentals- *Uncertainty of BOJ decision mixed with the suspected COOLING of inflation on AUD may be just the catalyst we need to see this pull off! AUD - CPI q/q & y/y - Tuesday, July 30th JPY - BOJ Policy Rate - Tuesday, July 30th
Short
by Novi_Fibonacci
Focus on Buying Opportunities and Key Event AlertThis week, I’m focusing on buying opportunities more than shorting. Here's a key level and some important advice if you’re trading Japanese Yen related pairs. Current Overview: - Key Level for Buying: 1. Support Level: 153.45 2. What to Do: Wait for a Magic Candle Confirmation at this level to enter a buy position. Important Event Alert: - Date: 31 July - Event: Bank of Japan (BOJ) Interest Rate Decision - Impact: Whether the BOJ increases the Japan Interest Rate or not, it will significantly affect the Japanese Yen movement. Strategy: 1. Magic Candle Confirmation: At 153.45, wait for this confirmation before entering a buy position. 2. Managing Running Trades: - 50 Pips Profit : If you have a running profit of 50 pips or more, consider shifting your stops to entry to protect yourself from undesirable surprises. - Less Than 50 Pips Profit: Start planning your trade move before the BOJ announcement. Key Considerations: - Exiting Trades Before Announcement: Decide if you’re comfortable exiting your trades before the Bank Rates announcement, even if the market moves significantly in your favour. - Holding Through Announcement: Alternatively, consider the risk of holding through the announcement and how you’d manage your trade based on the market reaction to the BOJ decision. Final Thoughts: Be cautious and plan your trades carefully this week. Whether you choose to protect your profits or take a risk on the BOJ announcement, make sure you’re prepared for any outcome. What’s your plan for this week? Are you focusing on buying opportunities or do you have a different strategy? Share your thoughts and strategies below! Happy trading, everyone! 🚀
Long
by RaynLim
USD/JPY remains volatile, US PCE Price Index nextThe Japanese yen has hit the brakes on this week’s impressive rally. USD/JPY is trading at 154.34 in the European session, up 0.30% on the day. On Thursday, the yen climbed as much as 1.3% but gave up all of those gains after the strong US GDP report. Still, the yen is up 1.9% this week. Tokyo Core CPI rose to 2.2% y/y in July, a notch higher than the 2.1% gain in June and matching the market forecast. This is the third straight acceleration and the highest level since March. Higher electricity prices drove the gain. Earlier this week, service inflation for businesses rose to 3% in July, up from 2.7% in June and above the market forecast of 2.6%. This was the highest level in 33 years. The Bank of Japan faces a tough task and must decide whether to maintain policy or deliver a rate hike at next week’s meeting. It’s a close call as to what decision the central bank will make and Bank officials can be expected to maintain radio silence. There are strong arguments for both sides. Inflation and wage growth have been moving higher which would support a rate hike. As well, a rate hike could give a boost to the yen, which has been trading at multi-year lows. On the other hand consumption remains weak and a rate hike would only further dampen consumer spending. Later today, the US releases Core PCE Price index, which is the Federal Reserve’s preferred inflation measure. The index is expected to rise 0.1% m/m in June, matching the May figure. The PCE Price index is expected to ease to 2.5% y/y, down a notch from 2.6% in May. USD/JPY has pushed past resistance at 154.03 and is testing resistance at 154.39, followed by 154.68 153.74 and 153.38 are the next support levels
by OANDA
USD/JPY – Yen on a tear, US GDP blows past forecast The Japanese yen continues to gain ground against the US dollar. USD/JPY is trading at 153.68 early in the North American session, down 0.14% on the day. Earlier today, USD/JPY fell as low as 151.93 (1.3%), its lowest level since May 3, before paring most of these losses. The yen has soared, rising 2.4% this week and a staggering 4.5% in the month of July. There’s plenty of buzz but also uncertainty in the air as the yen has gone on a torrid run against the hapless US dollar. The yen jumped 1.1% on Wednesday after a senior Japanese official urged the Bank of Japan to normalize policy. As well, the sharp drop in global tech stocks sent investors fleeing to traditional safe havens, including the Japanese yen. The Bank of Japan meets on July 30-31 and it’s a close call as to whether it will stay on the sidelines or raise interest rates. The central bank is also expected to announce details of a plan to cut bond purchases in order to reduce its massive monetary stimulus. The BoJ has hinted that a rate hike is coming, but the question of timing is up in the air. Core inflation rose to 2.6% in June and wages have climbed sharply, setting up the case for the central bank to raise rates. On the other side of the coin, consumer spending has been weak and inflation is relatively moderate. The US economy climbed 2.8% y/y in the second quarter, double the 1.4% rate in the first quarter and blowing past the forecast of 2.0%. An increase in consumer spending helped drive the strong gain. On the inflation front, the personal consumption expenditures price index, a key measure for the Federal Reserve, eased to 2.6%, down from 3.4% in Q1. USD/JPY tested support at 152.68 earlier. Below, there is support at 151.45 There is resistance at 154.33 and 155.56
by fisherkj4
Strong JPY, Weak Nikkei. Trading Plans Post FallAs the JPY has gained value, on propping up rumours via Japan Authorities, we have seen a drop in the Nikkei. The pro growth rates set by the BOJ have allowed the Japanese Nikkei to grow to higher highs continually, inline with the positive market sentiment spurred on by a better global economic outlook and a soft landing. A retracement, however, would reflect some of the economic woes induced by low rates. Anything that turns this around will likely take us back to highs. Conversely, a continuation of current sentiment will bring us lower. Any longs, therefore, must be tiny, if any. Save them till later.
SPREADEX:NIKKEI
by WillSebastian
2
Levels Discussed Post US CPI and BoJ InterventionDXY: Now consolidating on 104.50, needs to stay below 104.80 to remain bearish, with key support at 104 round number. NZDUSD: Buy 0.61 SL 20 TP 50 AUDUSD: Buy 0.6810 SL 20 TP 60 USDJPY: Look for reaction at 160 (possible 2nd intervention level from BoJ) GBPUSD: Buy 1.2940 SL 40 TP 90 EURUSD: Look for reaction at 1.0920 USDCHF: Looking for reaction at 0.89 USDCAD: Likely to range between 1.36 and 1.3650 Gold: Needs to break 2420 to trade up to 2450
TVC:DXY
by JinDao_Tai
Levels discussed on livestream 27th June27th June DXY: testing the support level (105.90) needs to stay above 105.75. Look for bounce to 106.40 (needs to break previous high) NZDUSD: Sell 0.6065 SL 25 TP 80 AUDUSD: Test and reject 0.67, Sell 0.6695 SL 20 TP 60 USDJPY: Buy 161.10 SL 30 TP 90 (look to close quick!!!) Becareful, possible intervention area GBPUSD: Sell 1.2590 SL 20 TP 75 EURUSD: Sell 1.0665 SL 15 TP 50 USDCHF: Buy 0.9025 SL 20 TP 50 USDCAD: Buy 1.3725 SL 20 TP 55 Gold: Watch out for support at 2285
TVC:DXY
by JinDao_Tai
Trading Idea: Shorting GBPJPY Amid Conflicting Signals from JapaThe recent statement from Japan's Finance Minister about possibly giving up FX intervention due to its ineffectiveness, which seems to suggest acceptance of the yen's continuous weakness, directly conflicts with recent BOJ communications. Considering this, shorting GBPJPY becomes a highly volatile decision. Nonetheless, a trade is a trade. If this trade goes well, profits are expected within 2 hours. If not, that's part of the game. Trade Setup: Short GBPJPY Entry : 202.97 Stop-Loss : 203.21 Target 1 : 202.60 Target 2 : Open Strategy: - Volatility Consideration : Acknowledge the high volatility due to conflicting statements from Japan’s Finance Minister and BOJ. - Risk Management : Set stop-loss at 203.21 to manage potential losses. Profit Targets : Target 1 : 202.60 Target 2 : Keep open Remember to breathe and prepare for the next trade. What’s your take on this situation? Do you see a different angle or strategy? Share your thoughts and insights below!
Short
by RaynLim
USDJPY Analysis and Trade OpportunitiesLike I mentioned in our weekend live session, I don't see any BOJ intervention happening soon. The earliest I’m looking is when the market reaches 158.73, with the next level at 159.66. Around 157.74 is the level I'll be looking for a buying opportunity using the existing strategy that I've used for many years. Key Levels: Potential Intervention Levels : - 158.73 - 159.66 - Buying Opportunity : Around 157.74 Shorting Opportunities : 1-Hourly Chart : - Bearish Bat Pattern Completion : 158.15 - ABCD Pattern Completion : 158.39 if the Bearish Bat Pattern does not complete Strategy : - Buying at 157.74 : Use the tried and tested strategy that has worked over the years. - Shorting Opportunities : Monitor the 1-hourly chart for potential Bearish Bat Pattern at 158.15 and ABCD Pattern at 158.39. What’s your trade plan for USDJPY? Any valuable insights you’d like to share? Comment down below.
Long
by RaynLim
Levels discussed during livestream 14th June14th June DXY: test resistance area of 105.60-105.70. (could retrace briefly due to end of week) Breaking resistance could trade up to 106.40 NZDUSD: Sell 0.6130 SL 20 TP 50 (Hesitation at 0.61) AUDUSD: Sell 0.6565 SL 25 TP 70 USDJPY: Buy 158.40 SL 50 TP 100 GBPUSD: Wait for reaction at 1.2690 EURUSD: Sell 1.0705 SL 30 TP 90 (Hesitation at 1.0670) USDCHF: No setup for now USDCAD: Sell 1.3770 SL 30 TP 85 Gold: Likely to range between 2340 and 2290
TVC:DXY
by JinDao_Tai
Could the USDJPY retest 160?When the BoJ increased interest rates in March, for the first time in 17 years, the Yen continued to weaken due to the perceived lack of commitment toward further rate hikes. In April the BoJ kept rates on hold at 0.10%, which saw the Yen react with further weakness. The BoJ is due to release its Policy Rate and Monetary Policy Statement tomorrow (Friday). With the USDJPY currently at the 157.25 price level, a resumption of strength on the DXY following the FOMC decision yesterday could see the USDJPY climb up to the resistance level of 158 before the BoJ decision. If the BoJ decides to keep rates on hold and not take any further action on reducing its bond purchases, the Yen could weaken further, pushing the USDJPY higher toward the all time high of 160. This is likely to make it very interesting as it would reignite the speculation of a possible currency intervention from the BoJ
Long
by JinDao_Tai
Japan rate decision Friday: A deeper look Japan's wholesale inflation surged in May at the fastest annual rate in nine months, data revealed yesterday, indicating that a weak yen may be exerting upward pressure on prices by increasing the cost of raw material imports. Producer prices in Japan rose 2.4% year-on-year in May 2024, up from 1.1% in April, surpassing market expectations of a 2% rise. This data is likely to be a key factor for the Bank of Japan (BOJ) board as it convenes for a two-day policy meeting ending on Friday. The central bank is widely anticipated to maintain its short-term interest rate target within the 0% to 0.1% range. However, the data adds complexity to the BOJ's decision-making on the timing of interest rate hikes. BOJ Governor Kazuo Ueda has stated that the central bank will consider raising rates further if it becomes more confident that underlying inflation will remain around the 2% target. Looking at the 4-hour chart today, the USD/JPY has rebounded following the FOMC decision, erasing much of the post-CPI drop, and passing through the 20-, 50-, 100-, and 200-hour Exponential Moving Averages.
by BlackBull_Markets