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USDJPY trade ideas

USDJPY Is this the end of wave 4?The Elliott Wave Principle suggests a guideline of alternation between corrective waves, particularly between wave 2 and wave 4 of an impulsive wave sequence. This principle helps us identify the nature and behavior of these waves to better understand market structure. These alternations may occur in many forms, for example: Nature of corrections (sharp or shallow), Depth of correction, Structure of correction (flat or triangle, combinations etc) and Time duration of correction (quick or longer corrections). The alternation helps us anticipate the likely form of wave 4 based on wave 2’s behavior to enhance forecasting accuracy. So from these theory of alternation together with the rules around the wave principle, Looking at USDJPY at this level of price we have reached the deepest level of correction wave 4 can go. If the formation is correct, then wave 4 should not go beyond the red line. It made sense to me to take a short at the 50% fib retracement to tighten the SL however it is advisable to wait for confirmations, so saying I do believe there is still a plenty of chance for entry.
Short
by wmasehlele
USDJPY Channel Up bottomed. Very strong BUY.USDJPY is trading inside a Channel Up and the price is starting to recover from November's bearish wave correction. It has already crossed above the MA50 (4h) and only the MA200 (4h) remains to confirm the trend shift. Trading Plan: 1. Buy after the price crosses above the MA200 (4h). Targets: 1. 162.500 (top of the Channel Up and under the 2.0 Fibonacci extension). Tips: 1. The RSI (4h) is printing a cup into Channel Up pattern, identical to the previous Low of the Channel Up. An additional buy signal. Please like, follow and comment!!
Long
by TradingBrokersView
Sell USD/JPY Channel BreakoutThe USD/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. OANDA:USDJPY Key Points: Sell Entry: Consider entering a short position around close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 148.82 2nd Support – 148.18 Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_TA_TRADING
5
USDJPY MONTHLY NEOWAVE ANALYSISExperimental analysis with the intention to follow back later on as I am still learning I don't think it could be any clearer on the monthly chart. . We are currently in wave C, and I have a strong feeling that this diametric will be part of wave 1 of a terminal. The only confirmation will be through the post-market reaction after wave G concludes. The price action following wave G should be quicker and stronger than waves B, D, and F. Regarding wave G at present, it is likely to equal wave A in price, or it may correlate by 61.8% or 161.8%
by thekidtrader11
USD/JPY Sell Setup: Strategy OverviewTechnical Insight: Current Market Position: The USD/JPY is hovering around a critical resistance level at 157.719, with historical data showing a struggle to break above 160.000. Price Action: The chart indicates a recent failed breakout attempt, now acting as a potential reversal signal. This is highlighted by the downward arrows, suggesting a sell-off after hitting resistance. Fundamental Backdrop: US Economic Health: Stronger than expected economic data from the US, especially employment and inflation figures, could bolster the USD. However, any dovish signals from the Fed might weaken the dollar. Japanese Economic Factors: Japan's economic policies, particularly any intervention by the Bank of Japan (BoJ) to weaken the yen, could play a role in the currency's valuation against the dollar. Trading Strategy: Sell Entry: Optimal entry would be on a confirmed rejection from the current resistance, ideally with a bearish candlestick pattern or a significant wick at the top. Profit Targets: Primary Target: Aim for a sell-off to 151.350, a level where the price found previous support. Secondary Target: If momentum continues, look towards 151.000, which could serve as a deeper support level. Risk Management: Stop Loss: Set above the recent high at 151.870 to protect against unexpected bullish moves. Position Sizing: Calculate your position size based on the distance to the stop loss, ensuring it aligns with your risk management rules. Additional Considerations: Market Sentiment: Monitor global market sentiment. A shift towards risk aversion often sees capital flows into the yen, potentially strengthening it against the dollar. Geopolitical Events: Keep an eye on any geopolitical developments that might affect either the US or Japan's currency, such as trade negotiations or regional conflicts. Conclusion: The USD/JPY pair offers a strategic sell opportunity based on both technical resistance and potential fundamental shifts. Ensure your trading decisions are informed by both these aspects and manage risk appropriately. This setup, while not guaranteed, provides a structured approach based on current market conditions. Always remember to stay updated with real-time market news and adjust your strategy as needed.
Long
by DreamsForx
4
USDJPYHere is our in-depth view and update on USDJPY . Potential opportunities and what to look out for. This is a long-term overview on the pair. Alright first, let’s take a step back and take a look at USDJPY from a bigger perspective. For this we will be looking at the H4 time-frame . USDJPY is currently trading at around 151.800 after making its correction down to 150.400 . Scenario 1: SELLS from higher levels (153.300) We are at 153.300. That would confirm our pullback to the uspide and as long as it’s respected, we should continue to the downside to our next KL (Key Level) sitting at 150.400. Scenario 2: SELLS from 150.400 We dropped down to our Key Level 150.400 . If broken we should see more sells down to our targeted zones 149.500 - 149.000 . Scenario 3: BUYS from 154.700. We broke above 154.700 and are trading above it. We should see more upside potentially reaching new highs at around 158.800 . Personal opition: The direction for now is unclear until we break our mentioned key levels. A safe sell trade could be taken at 153.000 - 153.300 . Be patient and stay tuned for updates on this pair. KEY NOTES - USDJPY breaking below 150.400 would confirm sells down to 149.500 - 149.000. - USDJPY failing to break above 153.300 would confirm sells. - Breaks above 154.700 would show signs of reverse and could potentially rise up to 158.800. Happy trading! FxPocket
by FxPocket
USDJPY 1st 1D Golden Cross since June 2023! Bullish!The USDJPY pair has been trading within a long-term Channel Up since the October 21 2022 High. Today it formed its 1st Bullish Cross on the 1D time-frame in 1.5 year (since June 202 2023) and technically it is a very bullish development. It is not just the standard bullish dynamics of this formation but also that last time we had a Golden Cross, the price bottomed upon the completion of a 1D MACD Bullish Cross, which we also got today and rallied to hit the Resistance 1 level. As a result, this is a strong buy signal and our Target is just below Resistance 1 at 160.000. ------------------------------------------------------------------------------- ** 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
USD/JPY Analysis: Recovery Amidst Economic ShiftsThe US Dollar (USD) continues to make gains against the Japanese Yen (JPY), particularly following an upward revision of Japan's GDP for the third quarter. As a result, the USD/JPY pair has climbed back above the 150.45 level while I write this article. The Yen is facing some selling pressure, significantly influenced by growing uncertainties about the Bank of Japan's (BoJ) potential interest rate hikes in December, which has contributed to the JPY's underperformance against its USD counterpart. From a technical analysis viewpoint, the recent price rebound has occurred in a notable demand area on the weekly chart, where the currency pair has shown a decisive response. The price action suggests that there is strong buying interest in this zone, which may set the stage for further upward movement in the USD. Interestingly, seasonal forecasts hint at a possible bearish trend based on historical data over the last ten years. However, the current market dynamics and the way the price has reacted to the demand area indicate that there might be the potential for upward momentum for the USD in the near term. Additionally, geopolitical tensions and concerns surrounding incoming US President-elect Donald Trump's anticipated trade tariffs add another layer of complexity to the situation. Such uncertainties regarding trade policies are likely to support the Japanese Yen as a safe-haven currency, but the evolving landscape could limit significant downside movements. As investors prepare for the upcoming US consumer inflation figures, many may choose to remain on the sidelines. These data points will be crucial, as they could provide insight into the Federal Reserve’s trajectory regarding interest rate cuts, which in turn could enhance market momentum for the USD/JPY pair. With the current technical setup and market sentiment, we are keenly observing for a long entry point in the USD/JPY pair. As the economic landscape evolves and we gather more data, this strategy may provide advantageous opportunities for traders looking to capitalize on potential USD strength against the Yen. In summary, amidst the shifts in economic indicators and geopolitical challenges, the USD/JPY pair is positioned for potential upward movement, marking an exciting time for traders in this currency market. ✅ Please share your thoughts about USD/JPY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
3
USD/JPY Technical Analysis The price is currently testing the upper boundary of the ascending channel near 152.40, which acts as a critical resistance level. If this resistance holds, the pair may see a retracement towards the midline support around 151.10. Key Points: Resistance at 152.40: This level represents the upper boundary of the channel, and a rejection here could initiate a downward movement. Support at 151.10: The midline of the channel serves as the first significant support level if the price starts to decline from the resistance zone. Technical Indicators: The price is extended and approaching overbought levels, suggesting the potential for a pullback. Key moving averages and Ichimoku components indicate the possibility of short-term corrective moves. Conclusion: As long as 152.40 resistance remains intact, the price is likely to decline towards the 151.10 support level. Traders should watch for confirmation of rejection at the resistance before taking positions.
Short
by arongroups
1
USDJPY | Market outlookThe dollar was little changed against the yen on Friday as investors digested a mixed U.S. jobs report. U.S. nonfarm payrolls rose by 227,000 jobs in November, following a revised increase of 36,000 in October. While the report showed stronger-than-expected job growth, the unemployment rate edged up to 4.2%. Analysts suggest the data supports the view that the U.S. is not heading into a recession, reinforcing expectations for the Federal Reserve's rate-cutting path. Markets are pricing in an 88% chance of a rate cut at the Fed's upcoming meeting.
Long
by DynamicCapital-FX
USDJPY Buy ForecastUSDJPY New forecast👨‍💻👨‍💻 Note: Follow proper risk management rules. Never risk more then 2% of your total capital. Money management is the key of success in this business...... Set your own SL & TP. Please support this idea with a Like and COMMENT if you find it useful click "follow" on our profile if you will like these type of trading ideas delivered straight to your email in the future. Thanks for your continued support!! lemme know your thoughts in the comment sec...
Long
by King_CityStar_Fx