Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

jerich

USDJPY Discussions

Recommended Posts

Whats about today?

 

USD/JPY jumped to 110.28 on the back of unexpected BOJ monetary policy decision; it is currently trading at 110.28 from 109.39 registered right before the news hit the wires.

 

Dont think would be dropping below 110 today though...Overall trend is upward but we could see a downward correction from time to time...

 

Even BOJ is pessimist about their economical strength and had predicted this lacking of Yen's strength long ago..

Share this post


Link to post
Share on other sites
Dont think would be dropping below 110 today though...Overall trend is upward but we could see a downward correction from time to time...

 

Even BOJ is pessimist about their economical strength and had predicted this lacking of Yen's strength long ago..

 

:idea: lets see what happened

Share this post


Link to post
Share on other sites

Last week the Fed and the Bank of Japan created the perfect back drop for a continuation in the USD value versus the yen. The Fed did not say they were in a hurry to raise interest rates, but they did say the US economy had made sufficient recovery so QE could end on schedule. The BOJ went the other way. They would increase the stimulus, buying ¥80T a year up from ¥60T during the past year.

 

After close to a 900 pip rally, it is always tempting for the novice trader to sell the market since the rally has already carried "too far." Rarely does this work. Markets have an uncanny way of going too far in either direction.

Share this post


Link to post
Share on other sites

Who would have thought 115 will be hit so soon. It was there in the background somewhere and been talked about but it will hit 115 from that 106-07 level in just a month or so was so unexpected.

Share this post


Link to post
Share on other sites

USDJPY

 

Buy 3rd Target (Overbought Price) at 116.65

Buy 2nd Target (Reversal Price) at 116.17

Buy 1st Target at 115.69

Buy Area at 115.37

WSS Pivot at 115.05

Sell Area at 114.73

Sell 1st Target at 114.41

Sell 2nd Target (Reversal Price) at 113.93

Sell 3rd Target (Oversold Price) at 113.45

 

Trend Summary : BULLISH

Share this post


Link to post
Share on other sites

Taking a look at the daily chart of USD/JPY, the correction on Friday was the largest one day decline for the currency pair since mid October. 114 is a near term support level that if broken would pave the way for a decline to 112.30. 112 should hold. If USD/JPY takes out its 6 year high of 115.58, the next stop should be the October 2007 high of 117.95.

USDJPY110914.png.5405178d6307e1981a8c2fbbcc3081d5.png

Share this post


Link to post
Share on other sites

Possible to see 118.50 before the end of the week! I will be monitoring that level closely. If we break above I will keep my longs. If we don't, then I will look at maybe scalping this consolidation range!

Share this post


Link to post
Share on other sites

I expect another dip to 117.45ish area, which is good for a bullish move. If it continues up from here, I don't have confidence in how far it can go. I'd feel better if it dipped, then took off.

Share this post


Link to post
Share on other sites

After the BOJ announced their increased monetary stimulus at the end of October the USDJPY soared from 112.57 to a high of 121.84. Then the market relaxed and a bout of safe haven demand resulted in yen buying which took us all the way to a swing low of 115.57. Following this break the Fed's comments were deemed bullish for equities and the USD, and we rally to 119.31. So what is next?

Share this post


Link to post
Share on other sites

The next big meeting is in March so there’s no need to rush any changes. If we are right and the Fed provides no fresh insight at this week’s meeting, their tightening bias will make the dollar more attractive and drive USD/JPY higher.

Technically, there is short-term support at 117.15 and more significant support at 115.57. The 61.8% Fibonacci retracement of the 1998 to 2011 decline at 120.18 will cap gains for the time being.

Share this post


Link to post
Share on other sites

Taking a look at the daily chart of USD/JPY, the break above 120 puts the currency pair on track for further gains. However there are a 2 main resistance levels to be mindful of – 120.80 and 121.85. These levels halted previous rallies in the pair. Support is at 120.

USDJPY021215.png.97a3681a3826e1e631ec9b1fb4f870e1.png

Share this post


Link to post
Share on other sites
The next big meeting is in March so there’s no need to rush any changes. If we are right and the Fed provides no fresh insight at this week’s meeting, their tightening bias will make the dollar more attractive and drive USD/JPY higher.

Technically, there is short-term support at 117.15 and more significant support at 115.57. The 61.8% Fibonacci retracement of the 1998 to 2011 decline at 120.18 will cap gains for the time being.

 

Right, but 119 is also very strong support/resistance level. I took short when I got a H4 double top at 119,2, for since two or three days I saw no real bullish pressure on UJ. So far so good. Please pay attention that several yen crosses pairs arealso entering resistance area. If they start going south, that will be additional buying pressure on the JPY.

 

Currently (2015 02 19 5 09 AM GMT) the pair is rebounding up on both H4 SMA100 and 200 at 1118,36. If you are confident in the uptrend, nice place to enter long. If you are confident.

 

attachment.php?attachmentid=39012&stc=1&d=1424322464

UJ_H4.thumb.png.7d5acde879c2456202972f9c8c6e66b0.png

Edited by stefcio2002

Share this post


Link to post
Share on other sites

Usd/Jpy has been consolidating between 118.00 and 121.00, the pair seems unable to set a clear direction at the moment. I wont want to trade in this pair atm.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • EURUSD Is Dominated By The Bull Market Throughout As The Pair Seek To Recover EURUSD Price Analysis – November 18 The bulls had full control today, moving the market up during the entire European session as the FX pair confirmed its breakout past the high of the prior session after trading up to 1.1068 above during the day. Key Levels Resistance Levels: 1.1501, 1.1412, 1.1278 Support Levels: 1.0989, 1.0879, 1.0780 EURUSD Long term Trend: Bearish EURUSD at the moment, the rebound from the 1.0879 level is initially seen as a remedy and, in the case of a further increase, the increase may be contained by the level at 1.1412 retracements from the level at 1.0879. Although the downward trend from the 1.1501 (high) level may resume later. However, the sustained plunge from the 1.1412 level may change this bearish position and lead to a greater increase in the retracement to the level at 1.1501. EURUSD Short term Trend: Ranging The EURUSD intraday bias stays neutral for the initial position and a further plunge is anticipated as long as the resistance remains at the level at 1.1073. Also, the corrective rebound from the level at 1.0879 is expected to end at 1.1501. Meanwhile, past the low of the level at 1.0989, the bias will be revised downward to repeat the low of the level at 1.0879. However, the breakout of the level at 1.1073 may soften this bearish trend and push up the bias for the level at 1.1175. Instrument: EURUSD Order: Buy Entry price: 1.1073 Stop: 1.0989 Target: 1.1412 Source: https://learn2.trade 
    • 0X (ZRX) Continues To Disappoint Investors Key Resistance levels: $0.30, $0.35, $0.40 Key Support Levels: $0.20, $0.15,$0.10 ZRX/USD Price Long-term Trend: Bearish The ZRX/USD pair is in a downward move after the market retests the $0.30 price level. In October, the coin was in a bullish move and tested the $0.35 resistance level. The bulls tested the $0.35 price level again and formed a bearish double top. With the formation of the bearish double top, the coin fell to the support line of the channel. The bulls may a retest at the $0.30 price level and resumed the downward move. The market has fallen to a low of $0.27 and it is consolidating above that level. This was the previous low in May. However, if the price breaks below $0.27, the pair will drop to a low at $0.20. Nevertheless, if the $0.27 support holds, the price will move up. Daily Chart Indicators Reading: The price has fallen to the support of the 50-day SMA and if the 50-day SMA holds, the 0x will move up to retest the resistance level. The RSI period 14 level44 indicates that the price is in the range-bound zone. ZRX/USD Medium-term bias: Ranging The bulls move up to test the resistance at $0.35 on two occasions and commenced a sideways move. The coin is fluctuating between the levels of $0.27 and $0.35. Nevertheless, the bears tested the support line and rebounded. The pair is likely to continue with the sideways move. 4-hour Chart Indicators Reading The 21-day SMA and 50-day SMA are trending horizontally indicating that price is in a sideways move. The stochastic indicator is above the 40% range indicating that price is in bullish momentum. General Outlook for 0x The ZRX/USD pair is in a downward move but the price is ranging above the $0.27 support level. After the sideways move above $0.27 and if the bears break below the support level, the selling pressure will resume. 0x Trade Signal Instrument: ZRXUSD Order: Buy Limit Entry price: $0.25 Stop: $0.20 Target: $0.35 Source: https://learn2.trade 
    • Read about Spectre.ai New asset class EPIC – Make 90% Every 1 Second!Low Minimum Deposit - https://binaryoptionsnodeposit.com/spectre-ai-new-asset-class-epic-make-90-every-1-second/
    • Date : 18th November 2019. Events to Look Out For Next Week 18th November 2019.Welcome to our weekly agenda, our briefing on all the key financial events globally. The week ahead is expected to reveal a healthy housing sector in the US, while Canadian data could clear the way for BoC. Eurozone’s PMI are also on tab.Monday – 18 November 2019 ECB Financial Stability Review (EUR, GMT 09:00) – The Financial Stability Review provides an overview of potential risks to financial stability in the Euro Area. Tuesday – 19 November 2019 Monetary Policy Meeting Minutes (AUD, GMT 00:30) – The RBA minutes, similar to the ECB Reports, provide a detailed assessment of the bank’s most recent policy-setting meeting, containing in-depth insights into the economic conditions that influenced the rate decision. They are usually a cause for FX turbulence. Housing starts and Building Permits (USD, GMT 13:30) – The September decline in starts reflected weakness in multi-family components, mainly led in the Northeast and Midwest, alongside small declines in the south and west. Permits have shown a solid growth path through Q3 alongside strength in starts, suggesting a likely solid path for both measures through Q4. Housing starts should rebound to a 1.285 mln pace in October, after the dip in September. Permits similarly are expected to rebound to 1.370 mln in October. Wednesday – 20 November 2019 Interest Rate Decision (CNY, GMT 01:30) – The PBoC is not expected to change its interest rates, at 4.2%. Inflation Report Hearings (GBP, GMT N/A) –The BOE Governor and several MPC members testify on inflation and the economic outlook before the Parliament’s Treasury Committee. Consumer Price Index and Core (CAD, GMT 13:30) – The Canadian CPI for October is expected to have come out higher than last month, at 2.1% from 1.9% in September, after the 0.1% dip in August, as declines in gasoline prices and tuition costs weighed. The CPI added to the backing for no change in rates from the BoC in October. Monetary Policy Meeting Minutes (USD, GMT 19:00) – The FOMC Minutes report provides the FOMC Members’ opinions regarding the US economic outlook and any views regarding future rate changes. Thursday – 21 November 2019 ECB Monetary Policy Meeting Accounts (EUR, GMT 1:30) –The ECB Monetary Policy Meeting Accounts, similar to the FOMC minutes, provide information with regards to the policymakers’ rationale behind their decisions. In the last ECB meeting, ECB kept policy settings on hold at Draghi’s last meeting, as widely expected after the comprehensive easing package announced in September. Philly Fed Index (USD, GMT 13:30) – The Philly Fed index is seen rising to 7.0 from 5.6 in October, versus a 1-year high of 21.8 in July and a 33-month low of -4.1 in February. The “soft data” measures have largely stabilized since June around moderate levels, though with a headline from the UAW-GM strike in recent months that seemed to have impacted some surveys but not others. The trade war headwind may subside somewhat in November, though the markets still face a wide array of troubles abroad. Friday – 22 November 2019 Gross Domestic Product (EUR, GMT 07:00) – German Q3 GDP expanded 0.1% q/q – boosted by consumption. Germany not just missed a technical recession, the economy actually expanded slightly in the third quarter, as Q2 was revised down. However, we expect no turnaround yet for the final Q3 GDP, despite the higher headline rate, as the balance of risks remains tilted to the downside. Markit Services and Composite PMIs (EUR, GMT 08:30-09:00) – The prelim. EU Markit PMI Indices are expected to continue above 50, but slightly decline to 51.9 and 50.3 respectively, according to consensus expectations. As for Manufacturing PMI, in November a slight improvement is expected at 46.0, even though the headline rate remains in contraction territory. Retail Sales (CAD, GMT 13:30) – Retail Sales are forecasted to have registered a flat outcome in Canada, after mild declines of 0.1% in August. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.