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Navigating Trends:USDJPY Selling Opportunity Amid inflation easeThe current downtrend of USDJPY reflects a sustained downward trajectory, with the currency pair currently navigating a correction phase. This correction is steadily approaching the trend at the critical 142 support and resistance area, a numerical level of historical significance. The convergence at this juncture presents an opportune moment where the ongoing correction may interact with substantial market forces, potentially offering strategic entry points for traders. Delving into the macroeconomic landscape, the recently released Consumer Price Index (CPI) data reveals a noteworthy trend of easing inflation. Examining the data points from October 25, 2023, where the actual inflation rate of 1.2% surpassed the forecast of 1.1% and the previous 0.8%, it becomes apparent that inflation figures have been gradually moderating over recent quarters. This evolving inflation scenario may significantly influence the decisions of the Federal Open Market Committee (FOMC) in the upcoming meetings. As we look ahead, the expectation is that the FOMC could adopt a dovish stance, given the trend of easing inflation. These insights gleaned from the shared CPI data present a compelling narrative, suggesting a potential weakness in the dollar in the early months of the next year. Trade safe, Joe.
Short
by JoeChampion
Aussie Yen: Bullish Outlook as BOJ Maintains Ultra-Loose PolicyHi Realistic Traders. Here's my price action analysis on FX:AUDJPY ! The AUD/JPY pair has consistently established higher highs and higher lows, successfully surpassing the EMA200 Line. This upward shift above the EMA200 line unequivocally signals a bullish trend. Subsequently, it formed a symmetrical triangle pattern and decisively breached the upper trendline of this configuration. Such a breakout typically serves as confirmation of a potential upward movement toward the designated target. It is essential to note that the analysis will no longer hold validity once the target/support area is reached. Fundamental Driver On Dec 19, The Bank of Japan (BoJ) decided to maintain its overnight interest rates at minus 0.1% and has made no changes to its yield curve controls. Governor Kazuo Ueda, in a press conference after the BoJ's last meeting of 2023, acknowledged an improved outlook for achieving the inflation target but emphasized that the central bank is not currently prepared to outline an exit strategy from its ultra-loose monetary policy. The governor cited a lack of urgency to adjust policy before the US Federal Reserve potentially considers cutting rates in the coming year. The decision has led to a decrease in the value of the yen, supporting the potential bull run of Aussie Yen. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Aussie Yen." Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below!
Long
by financialfreedomgoals101
2
USD/JPY hits 5-month low due to Fed policy divergenceJPY's rally benefited from hawkish comments from BoJ Governor Ueda when he emphasized policy divergence between the Fed and BoJ. USDJPY is falling again after 2 consecutive sessions of increase. Technical indicators show that the downward momentum is still strong. The key resistance to watch is the 200-day MA at 142.75, with further targets at 143 and 144. On the contrary, if the price can be maintained below this mark, the downtrend will be consolidated. Sellers may aim for the 141.90/85 area, followed by the multi-month bottom at 141 established last week, support at 140.45 and the 140 mark.
Long
by TrategySherpa
USD/JPY Under Pressure: Dovish Fed Outlook and BoJ's Caution..USD/JPY Under Pressure: Dovish Fed Outlook and BoJ's Caution Fuel Bearish Momentum The USD/JPY pair continues to experience losses as the US Dollar (USD) weakens, influenced by the dovish outlook presented by the Federal Reserve (Fed) in the first quarter of 2024. The recent decline gained momentum on Friday, triggered by softer domestic consumer inflation data, amplifying uncertainty regarding the potential timing of the Bank of Japan (BoJ) tightening its ultra-loose policy. Minutes from the BoJ's October monetary policy meeting further indicated a commitment to maintaining the current accommodative stance, putting additional downward pressure on the Japanese Yen (JPY). Market Developments: As the USD/JPY pair trades lower around 140.70 during the early European session on Thursday, attention is drawn to the psychological areas of 141.00 and 141.600, which now pose as immediate resistance levels. The next significant barrier is identified at the 142.00 level, suggesting that the pair faces an uphill struggle in its attempt to reverse the prevailing bearish sentiment. Technical Analysis and Correlation: Building on our technical analysis and considering the correlation with the EUR/USD pairs, the outlook for USD/JPY points towards a continuation of the bearish momentum. The dovish Fed stance and cautious BoJ approach contribute to the prevailing downward pressure on the USD/JPY pair, emphasizing the potential for further losses in the near term. Looking Ahead: The uncertainty surrounding the timing of the BoJ's policy tightening and the dovish tone from the Fed are likely to remain key drivers for the USD/JPY pair. Traders and investors will closely monitor any developments in monetary policy discussions and economic indicators that could offer insights into the future direction of the currency pair. As the USD/JPY pair faces resistance levels and grapples with the repercussions of dovish central bank outlooks, the bearish momentum seems poised to persist. The interplay between the Federal Reserve's stance and the Bank of Japan's cautious approach sets the stage for continued volatility in the pair. As market participants navigate these dynamics, the focus remains on potential opportunities arising from the evolving conditions in the currency markets. Our preference Short positions below 143.00 with targets at 139.90 & 138.50 in extension.
Short
by FOREXN1
1
USD/JPY Approaches 141.30, Extending Two-Day Decline USD/JPY continues its downward trend for the second consecutive session, trading below the 141.30 level during the Asian hours on Thursday. Improved trade data from Japan in November has exerted pressure on the currency pair. However, less optimistic remarks from Bank of Japan Governor Kazuo Ueda may weigh on the Japanese Yen. From a technical standpoint, the spot price indicates potential recovery below the 142.00 level and appears to have broken the two-day decline. This suggests that breaking below the 200-day Simple Moving Average (SMA) is crucial support for bearish traders. Furthermore, oscillators on the daily chart remain deeply in negative territory, indicating limited resistance for USD/JPY on the downside. Any subsequent upward movement may still be viewed as a selling opportunity and is likely to be capped around the 142.75 level (200-day SMA). This implies that further buying activity leading to a move beyond the 143.00 level could trigger short-covering actions, allowing the bullish camp to reclaim the 144.00 milestone. On the flip side, weakness below the Asian session's lowest levels around the 141.90-141.85 region would reaffirm the short-term trend and make USD/JPY susceptible to retesting below the 141.00 level, or the multi-month lows touched last week. Subsequent declines could potentially pull the spot price towards the intermediate support at 140.45 on the way to the psychological level of 140.00.
by AdmamTrade
NZDJPY Pump and dump in action.The NZDJPY pair is trading within a Channel Up pattern using the 1D MA50 (blue trend-line) as a pivot point as of late. We can see a diverging (dotted) Channel Up that has priced the recent Higher Highs as well as being supported by the 1D MA200 (orange trend-line). The 1D RSI has rebounded on the 39.90 Support level, which is where the last two Higher Lows has been priced, while the 1D MACD just formed a Bullish Cross. This is a buy signal and our target is the top (Higher Highs trend-line) of the dotted Channel Up at 91.800. We are waiting for a sell after the 1D RSI gets rejected near the 73.40 Resistance, and we will target the bottom of the longer term Channel Up at 88.900. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
Japanese Yen Weakens on Soft Inflation, BoJ Policy UncertaintyThe Japanese Yen (JPY) faced a decline after softer domestic consumer inflation data, raising uncertainties about the Bank of Japan's (BoJ) potential policy tightening. BoJ's October meeting minutes revealed a consensus to maintain the accommodative policy, contributing to JPY weakness. The USD/JPY pair saw a modest recovery from weekly lows, supported by the USD's modest strength. Japan's core CPI remains at 2% for the 20th consecutive month, and optimism about future wage growth suggests a potential shift in BoJ's stance. However, the market anticipates a more positive U.S. Federal Reserve (Fed) policy easing in 2024, influenced by the U.S. Q3 GDP report. Investors are now watching the U.S. Core PCE Price Index for further guidance on USD/JPY short-term direction. Despite this, the fundamental outlook leans towards JPY strength, indicating a downside bias for the currency pair.
by Larissa-Trader
USDJPY Bottom of Bullish Megaphone. Long-term buy.USDJPY is on the MA200 (1d) on top of the Rising Support Zone. That is the bottom layer of the long term Bullish Megaphone pattern, a very strong rebound range. Trading Plan: 1. Buy on the current market price and as long as the price stays on the Support Zone. Targets: 1. 151.980 (Resistance 1, the previous High). Tips: 1. The RSI (1d) has formed a Double Bottom exactly on the oversold 30.00 level. An additional strong buy signal. Please like, follow and comment!! Notes: Past trading plan:
Long
by TradingBrokersView
USDJPY Potential DownsidesIn today's trading session, our primary focus is on USDJPY, where we are actively monitoring a potential selling opportunity around the 142.500 zone. Presently entrenched in a downtrend, USDJPY demonstrates a sustained downward trajectory. Concurrently, the currency pair is navigating a correction phase, steadily converging towards the trend at the pivotal 142.500 support and resistance area. This numerical level holds significance as both a historical support point and a crucial juncture where the correction may intersect with substantial market forces. Our strategic approach for today involves a meticulous assessment of optimal entry points within the identified 142.500 zone. Aligning our trading decisions with the ongoing downtrend and the potential market dynamics at the critical support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified selling opportunity within the broader context of USDJPY's current trend.
Short
by JoeChampion
CADJPY Confirmed buy signalThe CADJPY pair has been trading within a Fibonacci Channel Up since the March 2020 market bottom. The recent rejection on the 1.5 Fibonacci level back to the 0.5 show it test and hold an important Support, the 1W MA50 (blue trend-line), which has only broken once in 3 years (since November 2020) and that was during last year's inflation crisis. As long as it holds, it is a strong buy opportunity and evidence for that is the 1W RSI which has printed the same pattern (Channel Down break into a rebound) as the September 26 2022 and August 16 2021 lows. Both initiated rebounds that hit their prior Resistance levels. As a result, we are taking this opportunity to buy and target the previous Resistance (from the September 25 High) at 111.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
Japanese Yen Retreats on Soft Inflation, USD StrengthensFrom a technical standpoint, spot prices indicate a potential rebound below the 142.00 level, seemingly breaking the two-day downtrend. This suggests that the overnight break back below the 200-day Simple Moving Average (SMA) is crucial support for bearish traders. Furthermore, oscillators on the daily chart remain firmly in negative territory, indicating minimal resistance for the USD/JPY pair on the downside. Therefore, any subsequent upward move may still be considered a selling opportunity and remains capped near the 142.75 level (200-day SMA). This implies that further buying activity, leading to a move beyond the 143.00 mark, could trigger short-covering actions and allow the bullish camp to reclaim the round figure of 144.00 in the short term. On the flip side, weakness below the intraday low around the 141.90-141.85 region would reaffirm the short-term trend, making the USD/JPY pair vulnerable to a retest of the sub-141.00 level or the multi-month lows touched last week. The subsequent decline could potentially drive spot prices towards intermediate support at 140.45 on the way to the psychological milestone of 140.00.
by Larissa-Trader
USDJPY Potential DownsidesIn today's trading session, our attention is focused on USDJPY, as we actively monitor a potential selling opportunity around the 142.600 zone. Having previously traded in an uptrend, USDJPY has recently undergone a notable shift, successfully breaking out of the uptrend. Presently, the currency pair is in a correction phase, gradually approaching the retrace area at the crucial 142.600 support and resistance zone. This numerical level holds significance as both a historical support point and a pivotal juncture where the ongoing correction may encounter notable market forces. Our strategic approach for today involves a careful assessment of optimal entry points within the identified 142.600 zone. Aligning our trading decisions with the recent trend reversal and the potential market dynamics at the critical support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified selling opportunity within the broader context of USDJPY's current trend.
Short
by JoeChampion
GBPJPY remains mixed and volatile.GBPJPY - 24h expiry A Doji style candle has been posted from the base. Price action looks to be forming a bottom. We are trading at overbought extremes. This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher. Further upside is expected although we prefer to buy into dips close to the 180.65 level. We look to Buy at 180.65 (stop at 179.85) Our profit targets will be 182.65 and 183.05 Resistance: 182.10 / 183.35 / 184.60 Support: 178.00 / 175.15 / 173.60 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
EURJPY: Buy opportunity at the bottom of the Channel Up.EURJPY has turned neutral on its 1D technical outlook (RSI = 46.011, MACD = -1.000, ADX = 41.208) as it held the 1D MA200 but remains restrained under the 1D MA50. This rebound however looks very much like the August 2nd 2022 1D MA200 rebound, which after it crossed over the 1D MA50, rallied to the 1.236 Fibonacci extension. A 1D MACD Bullish Cross will confirm this signal and we turn bullish targeting under the 1.236 and the top of the Channel Up (TP = 168.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
USDJPY Potential DownsidesIn today's trading session, our primary focus is on USDJPY, as we carefully monitor a potential selling opportunity around the 145 zone. Presently entrenched in a downtrend, USDJPY demonstrates a sustained downward trajectory. Concurrently, the currency pair is navigating a correction phase, steadily converging towards the trend at the pivotal 145 support and resistance area. This numerical level holds significance as both a historical support point and a crucial juncture where the correction may intersect with substantial market forces. Our strategic approach for today's session involves a thorough assessment of optimal entry points within the identified 145 zone. Aligning our trading decisions with the ongoing downtrend and the potential market dynamics at the critical support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified selling opportunity within the broader context of USDJPY's current trend.
Short
by JoeChampion
1
4 major currencies meltdownI see very much potential warning alert signal of 4 major currencies of the world. 4 major currencies that I am concerning are Dollar Japanese yen Euro & British Pound. I was seeing major upgrade of dollar index and stronger dollar but after I hearing Fed's seminar last week and analyzed quadrople charts of yen euro dollar gbp and my decision to made to short all major 4 currencies. rapidly decline of 4 major currencies occured by soverign debt dafults or major central bank policy mistakes. I will consider major mistake will be the troublemaker and trigger.
TVC:DXYShort
by illuminating_trade
1
GBPJPY Strong rally if the MA50 (1d) breaks.GBPJPY is trading inside a Bullish Megaphone pattern with the price testing now for the 2nd time the MA50 (1d). This test is coming only 3 days after the price hit the bottom of the Megaphone. The previous bottom formations have been very similar to the current pattern. Trading Plan: 1. Buy when the pair closes a (1d) candle above the MA50 (1d). Targets: 1. 190.000 (Fibonacci 1.236 extension). Tips: 1. The RSI (1d) has made a Double Bottom formation over the oversold level of 30.00. Please like, follow and comment!! Notes: Past trading plan:
Long
by TradingBrokersView