USDJPY Forecast: Insights for the New Week & Follow-Up Analysis
Atualizado
The Japanese yen experienced a slight decline as the Bank of Japan maintained its ultra-loose policy. However, it managed to recover some of its early losses following the BOJ decision, though it remained close to seven-month lows against the dollar. The BOJ opted to keep interest rates unchanged at record lows and expressed its intention to continue the yield curve control policy in support of economic growth. The bank also forecasted above-average strength in the Japanese economy for the year.
The yen had been weighed down by expectations of a dovish BOJ, especially as the Federal Reserve signaled a relatively hawkish stance, indicating a widening gap between Japanese and U.S. interest rates. While the Fed had previously paused rate hikes, it foresees at least two more increases this year due to inflation trending above the central bank's target range.
Nevertheless, weak U.S. economic indicators such as slowing industrial production, steady jobless claims, and sluggish retail sales raised doubts about the extent to which the Fed could continue raising interest rates.
Anticipated higher U.S. interest rates for a longer period are likely to restrict significant gains in Asian markets. In the upcoming week, we will focus on economic events from both the U.S. and Japan, including the BoJ Monetary Policy Meeting Minutes and the Fed Chair's testimony before Congress. How will these events impact the USDJPY from a technical standpoint?
During the video, I provide detailed analysis of the USDJPY's bullish and bearish sentiment, primarily focusing on price action-based technical indicators. We identify key support and resistance levels within the 4-hour timeframe to uncover potential trading opportunities. Notably, we highlight a significant level around 142.000 that was recently tested, and how market participants react to this level at the start of the new week may play a critical role in determining the direction of price action in the upcoming week.
Stay connected to our channel, follow our updates, and engage in the comment section to stay informed about further developments in the USDJPY market.
Disclaimer:
Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy.
It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment.
I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it.
Please note that past performance is not necessarily indicative of future results.
The yen had been weighed down by expectations of a dovish BOJ, especially as the Federal Reserve signaled a relatively hawkish stance, indicating a widening gap between Japanese and U.S. interest rates. While the Fed had previously paused rate hikes, it foresees at least two more increases this year due to inflation trending above the central bank's target range.
Nevertheless, weak U.S. economic indicators such as slowing industrial production, steady jobless claims, and sluggish retail sales raised doubts about the extent to which the Fed could continue raising interest rates.
Anticipated higher U.S. interest rates for a longer period are likely to restrict significant gains in Asian markets. In the upcoming week, we will focus on economic events from both the U.S. and Japan, including the BoJ Monetary Policy Meeting Minutes and the Fed Chair's testimony before Congress. How will these events impact the USDJPY from a technical standpoint?
During the video, I provide detailed analysis of the USDJPY's bullish and bearish sentiment, primarily focusing on price action-based technical indicators. We identify key support and resistance levels within the 4-hour timeframe to uncover potential trading opportunities. Notably, we highlight a significant level around 142.000 that was recently tested, and how market participants react to this level at the start of the new week may play a critical role in determining the direction of price action in the upcoming week.
Stay connected to our channel, follow our updates, and engage in the comment section to stay informed about further developments in the USDJPY market.
Disclaimer:
Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy.
It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment.
I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it.
Please note that past performance is not necessarily indicative of future results.
Nota
The new week commenced with bearish sentiment, as selling pressure continued and remained below our crucial level for the week, located at the 142.000 Level. This has led to a transition into a consolidation phase at present, with buying pressure resuming around the 141.500 level. As is customary within our community, we will exercise patience and wait for a breakout or breakdown to identify potential trading opportunities. Stay tuned in!Good Morning
Trade ativo
Our buy position is currently at break-even as prices continue to hover around our entry zone. This serves as a clear indication of the buyers' determination to break the 142.000 level, which happens to be both our key level and resistance line for the week. However, it is important to note that we won't overlook the potential of sellers in this scenario. As a result, we have established a new ascending trendline to provide guidance for our trading activities moving forward. Please stay tuned for further updates.Trade ativo
The current buy position is experiencing a loss of approximately 12 pips as buyers face challenges in surpassing thekey level of 142.000. Given this situation, it is important not to overlook the potential impact of sellers if they persist in thepressure around the key level. We will closely monitor the price action for any significant signals while relying on the trendline as our guiding factor for today's trading activities.Good Morning
Trade ativo
Second sell position triggered; secure positions nowTrade ativo
With the focus now directed towards Federal Reserve Chairman Jerome Powell's testimony before Congress today, buying pressure renews. It is advisable to safeguard all buy positions.Good Morning
Trade ativo
Secure buy positionNota
After the break-even position observed yesterday, trading continues to stay within the range established at the start of the week, specifically between the levels of 142.000 and 141.500. We remain patient and await signals indicating either a breakout or a breakdown of this channel.Good Morning
Trade ativo
Two buy positions running in profit; Time to secure positionsTrade ativo
Over 130 pips in profit on 2 positions; secure positionTrade ativo
We currently have a profitable gain of over 250 pips from two buy positions. It is advisable to secure these positions now. We will delve into the details of this accomplishment in our upcoming live session.Good Morning
Trade ativo
Update from our morning live session todayTrade ativo
UPDATETrade ativo
Secure buy position nowTrade ativo
Secure buy positionsTrade ativo
UPDATETwo position running in profit; time to secure all
Trade ativo
We maintain a bullish bias as the price action stays above the ascending trendline, with privileges of maximizing the potential bullish opportunities at the breakout/retest of the newly identified levels on the chart.Good Morning
Trade smart. Trade consciously
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