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USDJPY: Economic volatility!During the Asian session on Wednesday, the USD/JPY pair faced selling pressure, causing a partial erosion of the previous day's gains that had exceeded the 144.00 level, reaching a new high since November 2022. The spot price is currently trading around 143.80, down nearly 0.20% for the day, although any significant downward adjustments still seem elusive. Japanese officials continue to issue warnings against the recent weakness of the Japanese Yen (JPY), which is considered a key factor driving some long-term relaxation around the USD/JPY pair. In fact, Japanese Finance Minister Shunichi Suzuki stated on Tuesday that they will closely monitor the forex market with a sense of urgency and will react accordingly if currency movements become excessive. This warning was reiterated by top Japanese currency diplomat Masato Kanda earlier this Wednesday.
Long
by Sphyn-Trader
2
USDJPY Trade SETUP H4The USDJPY closed at 143.70. Speaking of its resistance, the area around 144.06 will act as a resistance area. If a candle rejects from this level, you can open a sell position with a stop loss of 40 pips and target the support level at 142.20. I hope we can make a good profit from this trade. Disclaimer: The information provided is for educational and informational purposes only and should not be considered financial advice. Always consult with a professional before making any financial decisions.
by ShaaniReal
USDJPY 23June2023if you look at the elliot notation and fibo extension placement, then wave 3 is right at 1.618, which means wave 3 is already 1.6x longer than wave 1. I want to predict where the USDJPY price moves using the fibo extension, and it could be that the price goes to the fibo extension of 1.618 as well. if you look at the trendline, there is a possibility that the price will respond positively to the trendline, which also meets the fibo extension area. I think this notation is quite correct, because wave 3 is not the shortest wave. as evidenced by the price at 1,618, and wave 5 could be a bullish continuation, this type of bullish can run for quite a long time. if you want to go short, it's better to wait for a fairly positive bearish confirmation.
by Hokusai_FX
We Could expect USDJPY to make a monthly higher higherThe reason why I am still firmly convinced that this movement is going to happen is supported by several compelling factors. Let's explore them in detail: 1.Non-commercials continue to aggressively add long positions in this currency pair. This indicates a strong bullish sentiment and suggests that these market participants have high expectations for its future performance. Their sustained interest and confidence in this pair contribute to my conviction. 2.Taking a closer look at the Monthly time frame, we can observe a clear and well-defined bullish structure. This pattern provides additional validation for the anticipated movement. The consistent upward trajectory of the price points towards a potential upward trend that could further strengthen the case for a positive outcome. 3.Another crucial aspect to consider is the unanimous agreement among all members of the Federal Reserve (Fed) regarding the likelihood of another interest rate hike. This collective stance underscores the consensus among policymakers that an increase in interest rates is imminent. Such a move is expected to bolster the value of the dollar, as it signifies a strengthening of the US economy and reflects the Fed's confidence in its monetary policies. 4.In contrast, the interest rate in Japan remains unchanged and continues to be in negative territory. This divergence between the interest rate policies of Japan and the United States further reinforces the potential for a favorable outcome in the currency pair. The persistent negative interest rate in Japan could lead to increased selling pressure on the yen, potentially benefiting the other currency in the pair. Considering these factors collectively, it becomes evident why my conviction remains steadfast regarding the occurrence of this movement. The combination of aggressive long positions by non-commercials, a bullish structure on the Monthly time frame, the anticipated interest rate hike by the Fed, and the contrasting interest rate policies between Japan and the United States all contribute to a compelling case for the expected movement.
Long
by Wiiso
BluetonaFX - USDJPY Range Zone Opportunity Hi Traders! There is a range zone setup on the USDJPY 1H chart. From looking at the price action, it looks bullish, and we are close to a breakout. There is resistance at 141.973 and support at 141.442. We are looking for a resistance break above the zone to target the psychological 142 barrier. If there is a break of the 142 barrier, then we have further levels to the upside, we have a long-term vector level at 142.255 (PLEASE SEE LINK BELOW). If we fail to break the range zone, we are likely to stay in the range zone, so there will be opportunities to just trade the range. Please like, comment and follow to support us; we greatly appreciate it. Thank you for your support. BluetonaFX 
by BluetonaFX
2