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Usdjpylong

This week could set long-term trend of USD/JPY The USD/JPY has been one of the most interesting pairs to trade in 2022. The pair has had it all, including hitting record highs and central bank intervention. But the year is not over, and some more market events are primed to possibly inject a little more volatility into the pair. Tomorrow will be the Bank of Japan’s interest rate decision. While markets expect the bank to maintain its negative interest rate, it will be interesting to see if the bank starts to prepare the market for a potential tightening in the future in its post-decision address, now that the annual inflation rate in Japan reached 3.7% in October 2022. On Thursday we get to see how much higher inflation reached in November, with markets expecting a reading of 3.9%. In the lead up to these two major market events, it is appropriate to look at the technical perspective of the USD/JPY. The solid uptrend trend in the pair peaked after reaching 152.000 in October, after which the USD/JPY reversed, creating a series of lower lows in the daily chart. Subsequently, it broke below the upward trend channel. The price also retested the trend line at 142.200, a former strong demand zone. Looking at the current price action on the daily timeframe, we can see that the USD/JPY is currently in a consolidation period between 138.000, which is the resistance area, and 134.000, which is the support area. Technically, since the short-term bias for the USD/JPY is currently downtrend according to the mini trend channel drawn above, we might expect a possible breakout to the downside once the 134.000 support area has been broken. If it happens, targets include 133.000, 131.000, and 127.000 if fundamentals support the momentum. However, countering this outlook is the Know Sure Thing or KST, a momentum-based oscillator. The indicator is currently showing a bullish crossover. This crossover might suggest that there is also a possibility that a breakout to the upside might occur. Suppose the price for USD/JPY breaks above the 138.000 resistance area and closes above the mini trend channel. In that case, this might indicate that the downtrend since October might be another pullback, and the long-term bias for USD/JPY is an uptrend.
by BlackBull_Markets
USDJPY next movement in the next week ?The US dollar against the Japanese yen may return to the bullish path next week, after the US Federal Reserve raised interest rates and stated that it will continue to raise interest rates in the coming year. All this may increase the strength of the dollar. Here, the dollar is seen breaking a downtrend on the four-hour time frame and testing it, and for this I expect the rise to continue towards higher targets. The four golden rules of trading 1 Don't be greedy 2 Always use stop loss 3 Never add other positions to the losing positions 4 Use a suitable lot for your account ❤️Please, support our work with like & comment!❤️
Long
by zaidhatem
5
USDJPY -4hYesterday Fed has released the interest rate once again with 0.5 % and closed the year by 4.5 % overall but in conference once again we observe dawish speech during the conference and the most important thing for the Fed and US is to decrease the inflation and come back again to 2 percent CPI data showed that FED did a great job during the dawish policy i do expect that USDJPY achieve to 140 before ending the year after that we have to observe what is happening during the technical channel if it broke above we could expect another bull run to the onside to the supply zone which i've already mentioned
Long
by FaRiDamooS
USDJPY H8: Bullish outlook seen, limited upside above 135.20On the H8 time frame, prices are testing the demand zone at 135.20 in line with 78.6% Fibonacci retracement where we could see a further upside above this zone, to the next resistance zone at 138.50. The 138.50 resistance zone is a graphical area that was tested multiple times as a support before prices broke below this level and coincides with the Fibonacci confluence levels. Stochastic is testing support at 3.07 as well where we could see a bounce above this level, in line with prices.
Long
by T3-Consultancy
USDJPY - Daily Trade Idea - 13-Dec-22USDJPY (LONG)- If all the support holds in place. If we see the Support broken out then we could see the shift in the trend. I marked the TP 1 (20 pips), TP 2 (50 pips) , TP 3 (100 pips) and EXIT (SL - 60 pips) on the chart. (THIS IDEAS VALID NEXT 24 HOURS) Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry. - Rejection Candle Formation - Green Candle after the Red Candle. - Stochastic - Oversold Area - Timing of entry Prior / during UK / US Market Session.
Long
by onelinkFX