#WaveAnalysis

#USDJPY reversed from multi-year resistance level 151.357

Likely to fall to support level 146.90

USDJPY currency pair recently reversed up from the powerful multi-year resistance level 151.357 (former monthly high from 2022), standing close to the upper weekly Bollinger Band.

The downward reversal from the resistance level 151.357 stopped the previous minor corrective wave 2 of the weekly downward impulse sequence (C) from last year.

Given the still overbought weekly Stochastic, USDJPY currency pair can be expected to fall further to the next support level 146.90 (low of the previous weekly correction).

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#WaveAnalysis

#USDJPY under the bullish pressure

– Likely to rise to resistance level 156.35

USDJPY currency pair under the bullish pressure after the earlier breakout of the major resistance level 151.80, former yearly high from 2022 and 2023.

The breakout of the resistance level 151.80 accelerated the C-wave of the active ABC correction (B) from the start of last year.

Given the clear multi-month uptrend and continued US dollar strength, USDJPY currency pair can be expected to rise further to the resistance level 156.35 (target price for the completion of the active C-wave).

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#USDJPY was slipping below 153 on Friday, having lost over 4.5% from a peak of 160.2 on Monday. Behind the pair's rise is a long-term fundamental factor: a huge and widening interest rate differential with a shrinking trade surplus. Currency interventions of the Japanese Ministry of Finance cause the decline. Let's try to understand at what levels USDJPY interventions will stop.

The yen's growth impulses are diminishing. In October 2022, USDJPY went from a peak at 151.8 to a bottom at 127.3 (-16.3%) in about three months. The pullback in November 2023 was half as short (January) and half as deep (7.6%).

Yen growth impulses without direct intervention are also becoming less pronounced. There have also been two sustained declines in USDJPY, in July 2023 (around 5%) and March 2024 (around 2.7%), on speculation that the Bank of Japan will turn to active monetary tightening.

The authorities are in no hurry to burn foreign exchange reserves, content with more modest success than in the 1990s.

#WaveAnalysis

#USDJPY reversed from support zone

Likely to rise to resistance level 155.65

USDJPY currency pair recently reversed up from the support zone lying between the strong support level 152.00 (former multi-month high from November) and the 38.2% Fibonacci correction of the upward impulse from December.

The upward reversal from the support level 152.00 stopped the previous short-term correction 2.

Given the predominant daily uptrend and the strongly bullish US dollar sentiment seen across the FX markets today, USDJPY can be expected to rise further to the next resistance level 155.65.

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#WaveAnalysis

#USDJPY reversed from key support level 156.50

Likely to rise to resistance level 160.00

USDJPY currency pair recently reversed up from the key support level 156.50, former resistance which stopped the previous minor impulse wave i at the start of May.

The upward reversal from the support level 156.50 continued the active minor impulse wave iii.

Given the clear daily uptrend and the strong yen sales, USDJPY currency pair can be expected to rise further to the next resistance level 160.00 (top of wave 1 and the target for the completion of the active impulse wave iii).

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#WaveAnalysis

#USDJPY broke strong resistance level 157.65

Likely to rise to resistance level 160.00

USDJPY currency pair recently broke above the strong resistance level 157.65 (which has been steadily reversing the price from the end of April, as you can see below).

The breakout of the resistance level 157.65 continues the clear uptrend that can be seen on the daily and the weekly USDJPY charts.

USDJPY currency pair can be expected to rise further to the next resistance level 160.00, which stopped the previous impulse wave (1) at the end of April.

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#Review #USDJPY
Yen: a managing decline
The Japanese yen has fallen to its lowest since 1986 against the dollar and a historic low against the euro. Its YTD loss is 12.5%, the third-worst performance after the Nigerian naira and the Egyptian pound among the 36 most liquid global currencies.

This performance of the currency has the monetary and financial authorities in the Land of the Rising Sun publicly displeased. However, their anger is not as strong as it was in October 2022 and November 2023, when powerful currency interventions reversed the trend from decline to growth for months. It was not even as strong as in late April when the USDJPY pair was pushed back more than 4% in five trading days.

The persistent pressure on the yen is the result of fundamental forces. Japan's monetary policy remains ultrasoft, with the key rate at 0.1% versus the Fed's 5.25-5.50%, justifying a long-term carry trade.

The slightly less one-note but highly dramatic story in the yen continues. The #USDJPY has been hitting highs since 1986, rising to 161.6. The pair has been selling off since the beginning of the week, touching 161.7, but minor pullbacks do not allow for shock-and-awe interventions that could reverse the momentum. Japan’s stock market is taking advantage of the yen’s weakness, trying to return to levels above 40000 on the Nikkei225, despite the decline in key global benchmarks.

The Swiss franc is giving up ground almost daily following the Swiss Central Bank’s second consecutive policy easing on 20 June, taking #USDCHF back above 0.90, a one-month high.

#WaveAnalysis

#USDJPY reversed from the key support level 160.00;

Likely to rise to the resistance level 162.00.

USDJPY currency pair recently reversed up from the key support level 160.00 (former resistance from April, which stopped the previous impulse wave (1)).

The upward reversal from the support level 160.00 started the active minor impulse wave v, which belongs to the impulse wave 3 from the start of June.

Given the predominant daily uptrend and the bullish USD sentiment, USDJPY currency pair can be expected to rise further to the next resistance level 162.00 (which stopped the previous impulse wave iii at the start of July).

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#WaveAnalysis

#USDJPY reversed from support level 151.95;

Likely to rise to resistance level 155.00.

USDJPY currency pair recently reversed up from the powerful support level 151.95 (former major resistance from 2022 and also the yearly high from last year), standing close to the 50% Fibonacci correction of the upward impulse from 2023.

The upward reversal from the support level 151.95 stopped the previous minor correction 4.

Given the clear daily uptrend, USDJPY currency pair can be expected to rise further to the next resistance level 155.00.

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#MarketReview

▫️ #USDJPY surges over 2% on BOJ comments

▫️ The recent rally looks like a necessary rebound from extreme oversold conditions.

▫️ So far, it makes sense to talk about a market calming but not a monetary policy reversal or a new round of USDJPY growth.

Read more

#MarketReview

▫️ #EURJPY, #USDJPY back in the red, failing to build on a rebound from equity indices;

▫️ The yen is supported by expectations that a quiet market will put a rate hike by the Bank of Japan back on the agenda.

#WaveAnalysis

▫️#USDJPY reversed from support level 144.00;

▫️ Likely to rise to resistance level 149.35.

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#Market Review

▫️ In the FX market, safe havens have returned to early August extremes;

▫️ #USDJPY is back near 142, forming a death cross;

▫️ #USDCHF was in uncomfortable territory for the NBS, forcing further rate cuts;

▫️ #USDCNH has moved into the safe haven category.

#Shorts

#USDJPY: Imminent Start of a Major Downward Correction

#Shorts

#USDJPY: Swings before further growth

#Shorts

#USDJPY: A Start of an uptrend

#Shorts

#USDJPY: Beginning of growth?

▶️ USDJPY. Current situation #tradelikeapro #tradingstrategy #trandingshorts #usdjpy #usdjpytoday

Today is Monday, December 15th, and we're going to talk about the Japanese yen, where a forecast change occurred a few days ago.

#tradelikeapro #tradingstrategy #trandingshorts #usdjpy #usdjpytoday

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▶️ USDJPY. Current situation #tradelikeapro #tradingshorts #usd #usdjpy #tranding #currencytradingtips

Today is Monday, January 5th, and today we will talk about the market, the Japanese Yen

#tradelikeapro #tradingshorts #usd #usdjpy #tranding #currencytradingtips

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