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Usdjpybuy

USDJPY: Keep 109.30 on Your Radar Next WeekThe USDJPY is testing a multi-year trend line from the 2015 high. The level connects with the February 2020 high, which preceded the March decline that sent the USDJPY 1,000 pips lower. As you can see, the market is challenging the resistance level today just above the 109.00 handle. Whether you see today’s retest as a selling opportunity or an upcoming bullish breakout depends on your outlook. I have a relatively neutral stance at the moment. A close above 109.30 could offer an attractive buying opportunity. On the other hand, bearish price action on the weekly chart could send USDJPY lower. However, the daily chart may offer some clues. Notice how USDJPY is consolidating below 109.30 on the daily time frame. That may be an indication of an imminent break higher. Usually, consolidation just below a key resistance level is bullish. We’ll have to wait and see if that’s the case here, but so far, I have no reason to be bearish, much less short the USDJPY. If buyers can clear 109.30 resistance next week, it could send the pair toward the 2020 high at 112.00. Alternatively, bearish price action from the 109.30 region could offer an opportunity to get short. That said, the bearish signal would need to occur on the weekly chart to help offset the bullish momentum we’ve seen since January. Trade idea: Watch for a buying opportunity following a close above 109.30 next week. That would open the door to the 2020 high at 112.00. Alternatively, bearish price action on the weekly chart could present a selling opportunity. That said, USDJPY has shown strong bullish momentum since January, so I have to respect that for now. Link Daily Chart - Link Weekly Chart- If you like this Idea, kindly smash the Follow & Like button & support us! Thanks!
by EagleForexTrade
USDJPY Broad falling wedge leads to the bullish runUSDJPY Because of the broad weakness in USD this pair has visit some south extreme and due to the final quarter and year end fixing and selling of USD is also acted as good fundamental factor to short this pair. USDJPY has reached around 102.00 and got some rejection at this level and this level was currently acting as year(2021) low. We can see a series of broad falling wedge pattern in this chart which is a clear sign of bullish trend and we have identified some triangle breakouts too. Interms of average daily moving of major pairs USDJPY is lagging behind the counterparts Positive risk sentiment will not favor the JPY. Recent vaccine developments and smooth political transition in USA will give a positive hope for the whole economy and the economic figures are much improving in recent months and the number of peoples who are claiming the unemployment benefits has in declining trend. The FED has reiterate the they will not hike the interest rates until the inflation is well above the 2%. This is average inflation targeting. DXY is also turned positive. More bullish run was expected in USDPY.
Long
by forexorbit
USDJPY - DON'T MISS THIS OPPORTUNITYIve worked down in timeframes. On the 4H, Price is sitting around 105.050 region, which has previously acted as a key Support Zone. On the 1H you can see a clear descending channel, which price broke today. We are expecting price to retrace back into the channel. The Stochastic indicator is clearly showing an oversold market on both 4H, 1H and 15min. We will look at a buy trade, to learn more on our position, please do not hesitate to contact me. Remember to LIKE, COMMENT and FOLLOW for more trade ideas!
Long
by Xpressforex
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