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Usd-jpy

USD/JPY Holds Steady as Investors Await Key US DataUSD/JPY Holds Steady as Investors Await Key US Data The USD/JPY pair is maintaining its positive stance, hovering around the 147.50 mark, as traders eagerly anticipate the release of crucial US economic data. Recent developments have provided mixed signals for both the US dollar (USD) and the Japanese yen (JPY). In the US, the Bureau of Labor Statistics reported that the August Producer Price Index (PPI) showed year-on-year growth of 1.5%, up from the previous reading of 0.8% and exceeding expectations. However, the annual Core PPI figure dropped slightly from 2.4% to 2.2%. Retail Sales in August grew by 0.6% on a monthly basis, surpassing estimations of 0.2%. Additionally, the US Department of Labor revealed that weekly Initial Jobless Claims totaled 220,000, slightly lower than the market consensus of 225,000. These data points indicate that the US economy remains resilient, and inflation rebounded in August. Despite the positive data, market expectations regarding the Federal Reserve's (Fed) monetary policy have not shifted significantly. It is widely anticipated that the Fed will maintain its current interest rate at the upcoming meeting scheduled for next week. The hawkish stance from the Fed continues to support US bond yields and the USD. On the other hand, the Bank of Japan (BoJ) has signaled that it will not consider an exit from its ultra-easy policy until wage and inflation data meet expectations. This stance has left the JPY vulnerable against other major currencies. In Japan, Machinery Orders for July showed a significant decline of 13% compared to the previous month, falling short of expectations. On a monthly basis, the figures dropped by 1.1%, further disappointing the market. Despite the dovish tone from BoJ officials, the lackluster economic data has failed to provide a boost to the JPY. Market participants will closely monitor the release of the US Empire State Manufacturing Index, Industrial Production, and the University of Michigan Consumer Confidence survey. These data releases could offer insights into the Federal Reserve's plans for the remainder of the year, just ahead of the upcoming Fed meeting next week. The USD/JPY pair is expected to remain influenced by these developments in the near term. Our preference Long positions above 147.00 with targets at 148.00 & 148.90 in extension.
Long
by FOREXN1
7
USDJPY LONG! EYES ON USD DATA!!Hey Traders, What we believe UJ price moves as mentioned on the chart, So we expect price to break just above and go higher, Therefore, how you can jump in this trend? Answer is quite clear, in HT we confirm that we are in extremely bullish move, and according to the JPY data we going to have more pressure on JPY currency, So how we enter! Look I mentioned toppest green area, as soon as we confirm BMS in 1h or 30M, we can place an order in first POI bellow, so I will try to share with you guys as soon as I get the position So just be careful of data from USD as we have NFP at front, However still I believe, price can move higher and higher Any question comment me bellow, @FxShzd
Long
by FxShzd
USDJPY 10/9/23Starting things off with UJ we saw a clear bullish run last week and it looks as if we may seem this carry over into this coming week. from what we have structurally we are sitting at the high of a bullish swing range BUT without having a clear SWH formed, this leads us to believe that we could see a bearish open from our UJ pair. now of course we know the market will do as it pleases but if we do form a swing high we might be able to trade the c- swing POI lower into our range and possibly even our POI. As it stands we are looking for buy moves from our POI highlighted but until we have a confirmed target (SWH) we can only speculate. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
USD/JPY Retreats from YTD High Amidst Stimulus Talks and ...USD/JPY Retreats from YTD High Amidst Stimulus Talks and Monetary Policy Divergence Introduction The USD/JPY pair has taken a step back from its Year-To-Date (YTD) high of 147.90 and is currently trading around the 147.40 mark in the Asian session on Thursday. This slight retreat comes on the heels of better-than-expected US data, which has propelled the US Dollar (USD) higher against its counterparts. In this article, we delve into the factors influencing the USD/JPY pair's movement and the key developments in the Japanese and US economies. Japanese Stimulus Measures in the Pipeline Recent reports from Kyodo News, citing anonymous sources, suggest that the Japanese government is contemplating the implementation of new economic stimulus measures in October. The primary objectives of these stimulus measures are twofold: to support companies in increasing wages and to reduce energy bills. This move reflects Japan's commitment to revitalize its economy amid ongoing challenges. Bank of Japan's Monetary Policy Stance Adding to the economic landscape, Bank of Japan (BoJ) policymaker Junko Nakagawa has emphasized the importance of maintaining an accommodative monetary policy for the time being. Nakagawa also noted that Japan has not yet achieved the BoJ's desired price stability. The divergence in monetary policies between the United States and Japan is a factor that may limit the upside potential of the Japanese Yen and serve as a tailwind for the USD/JPY pair. Japanese Economic Data Earlier this week, Japan reported a decline of 5.0% in Household Spending year-on-year for July, falling below market expectations of a 2.5% drop. This marks the sixth consecutive month of decline in household spending, highlighting the ongoing economic challenges facing Japan. Currency diplomat Masato Kanda has expressed a strong commitment to monitoring foreign exchange movements with a sense of urgency, emphasizing that all options are on the table. US Monetary Policy and Economic Data On the US front, market expectations center on the Federal Reserve (Fed) maintaining interest rates above 5% for an extended period. Fed Governor Christopher Waller has indicated that there is room to increase interest rates further, with data serving as the ultimate determining factor. Meanwhile, Fed Boston President Susan Collins has cautioned against an overly restrictive monetary policy stance, advocating for a patient and deliberate approach. The Institute for Supply Management (ISM) reported that the US ISM Services Purchasing Managers' Index (PMI) rose to 54.5 in August, surpassing the previous month's reading of 52.7 and beating the market consensus of 52.5. This marked the highest PMI reading since February. Although the S&P Global Composite's final readings slipped slightly in August, the US Dollar Index (DXY) still climbed to a near six-month high above 105.00 on Wednesday, buoyed by the positive data. Looking Ahead In the coming days, market participants will closely monitor the release of Japanese Gross Domestic Product (GDP) data for the second quarter, scheduled for Friday. Additionally, Labor Cash Earnings for July and Current Account data will be released from Japan's economic docket. Traders will carefully analyze these data points to identify potential trading opportunities within the USD/JPY pair, which remains sensitive to both domestic and international economic developments. Our preference Long positions above 147.00 with targets at 147.80 & 148.00 in extension.
Long
by FOREXN1
5
✨ NEW: USDJPY ✨ DT SWING✨-SL @ 150.00 🚫 SLO @ 148.90 (conservative) ⏳ SSO @ 147.75 (moderate) ⏳ TP1 @ 142.66 (shaving 25%) TP2 @ 139.15 (shaving 25%) TP3 @ 136.60 (shaving 25%) TP4 @ 132.60 (closing ALL Sell Orders) BLO @ 129.33 (1D) ⏳ -SL @ 128.25 🚫 ADDITIONAL INFO: 📈 Price Action is nearing our SLO. Just a few more pips to the upside, our SLO will trigger, and it's off to the bank after that. 📉 Let's catch this DT and enjoy the ride because it's gonna be a long one. 📉 Also, I placed a pending SSO, just in case we don't get our SLO filled
Short
by ProfessorCEWard
USDJPY TECHNICAL ANALYSIS Good day, Trader. We'll be keeping an eye on USDJPY. Even though the 4-hour timescale clearly shows a bullish continuation pattern, I like to be careful. Before going long, I will patiently wait for price to break out of and retest the 1.46.643 zone, and before considering selling USDJPY, I will be anticipating price to totally take out the 145.953 zone. Recall that patience is crucial, and that entry requires confirmation. ❤️Please, support my work with like, thank you!❤️
Long
by gdlintelFX
USDJPY One last rally before a correction.It's been almost 2 months since we looked into the USDJPY pair (see chart below) and our buy position right at the bottom of the Channel Up that easily hit its 144.500 target: The pattern is still holding and the price appears to be starting the final upward leg before it tests the top (Higher Highs trend-line) of the pattern. As a result, as long as the 1D MA50 is holding, we are bullish targeting 150.000 (top of Channel Up). If the 1D MA50 breaks, we will short-term sell towards the 1D MA100 (green trend-line). If the price closes below the 1D MA100, we will consider it a pattern bearish break-out and sell targeting the 1D MA200 (orange trend-line) and Support 3 at 138.100. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
USDJPY 3/9/23Starting this week off with USDJPY on Friday we saw the NFP and other red folder USD news shift this pair higher and into a bullish range, now as always we don't want to just jump into a bullish range from a bearish pair. this doesn't me we wont trade the range it just means we are going to look into a more conserved methods to enter any buys. overall this move is provided by a shift from news so we are going to treat it like every news POI we come to within our trading days, confirm and protect. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
USDJPY: Consolidation & The Next Bullish Move 🇺🇸🇯🇵 USDJPY is currently consolidating within a horizontal range. Taking into consideration the fact, that the pair is trading in a long-term bullish trend, probabilities are high that the market will resume the growth soon. Your confirmation will be a bullish breakout - a daily candle close above 146.6 - the upper boundary of the range. A bullish continuation will be expected to 148.0 level then. Alternatively, remember that the price may also drop from the underlined blue resistance and keep consolidating. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
5
USDJPY 27/8/23UJ honestly i don't have a huge amount to say about this pair or about this range, if you have looked over our other USD related pairs you will know the story by now. A news range with honestly a poor structure overall, liquid has built higher and lower meaning we may push up then shift lower, as you can see we have a reverse of our other USD pairs as in this case the USD is our primary. so you guys know what we are looking for, either a shift higher to give us a new range or a confirm entry for our NEWS created POI, on the other end we may have a sweep of our low to give us a bias the is opposite to what we have currently. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety