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Usdjpybuy

USDJPY may pullback a little after the massive sell-offIn my previous analysis on USDJPY, I recommended you to sell between 112-112.30 area. If you followed that, you have already bagged a massive profit of 400+pips(see idea link attached below) Through this idea, I would like to tell you that there could be a minor/decent pullback in the coming days provided we see some form of bounce back in the stock market. USDJPY is currently at a historical level from where we have seen multiple bounces in the past. There is also an equal likelihood of price breaking the level and dropping to the next major support. So, if you see some form of bullish price action in the lower time frame, you can look for countertrend buys with small TPs. That being said, exercise caution before executing any trades because the market is very weak at the moment.
by YourLazyTrader
33
USDJPY: How high can it go? A complete analysisUSDJPY is climbing higher with each passing day. Everytime it seems like the rally is overdone and the market has peaked, USDJPY just keeps creating newer highs. At this point, I assume that a lot of retail Fx Traders are selling this pair or they are already holding sells. So, I would like to write a word or two about the possible moves that you can see in USDJPY in the coming days. From a technical perspective, USDJPY has broken two important Resistances: 1) The descending Trend Line which has kept every advance in check since October 2018. 2) The local Resistance around 109.70 which was holding quite well since late November, 2019. So, at this point it's only logical that the path of least Resistance is to the upside and USDJPY will probably reach 110.51. If 110.50 breaks, the next resistances lie at 112.30 and 114.50 respectively. So, will this really happen? Well, no one knows for sure. This rally in USDJPY along with other JPY crosses is fueled by US-China Phase 1 trade deal prospects which is expected to be signed this week. A lot depends on how the markets react to the formal signing of the deal. In my opinion, markets have fully priced in the Phase 1 trade deal. So, once the deal happens we can see a classic "buy the rumor, sell the news" reaction from the market. Besides, the deal doesn't address the existing tariffs. Nor, does it take care of the most contentious aspects. So, at this stage, I would advise traders to stay on the sidelines when it comes to trading USDJPY or other JPY crosses. These technical breaks can't be taken as an absolute certainty to go long. Neither can we sell now merely based on speculation. The likelihood of USDJPY reaching 114.50 in the next few weeks is the same as it reaching 104.50. So, trade with caution and good money management.
by YourLazyTrader
USDJPY NASDAQ100 The correlation between American Indices and the US Dollar is so powerful that some investors see Dow Jones Industrial as a USD market sentiment indicator. That relationship can be explained, and here is how. Explanation: When investors want to buy US stocks they tend to borrow money in low-interest rate currencies, such is the Japanese Yen. The Japanese Yen and the Swiss Franc are perfect for that job. So let's see closer an example of this transaction: (1) The investors feel bullish about the market so they borrow money in order to buy stocks. They borrow money in Japanese Yen, as Yen offers traditionally very low-interest rates. After they borrow in Yen they change that money to US Dollars in order to buy US stocks. Therefore, they buy US Dollars today and repay that money in Japanese Yen in the future. That transaction is pushing USDJPY higher. (2) The investors now feel bearish about the market so they want to sell stocks. They are selling the stocks they bought before in US Dollars and pay back the money they have borrowed in Japanese Yen. Therefore, they exchange US Dollars to pay back Yen. That transaction is pushing USDJPY lower. Note that as financial arbitrage gets involved, the above process is accelerated and happens very quickly. Hence, arbitrage creates a direct correlation between USDJPY and American stock
Education
by Sbo_Dhlamini
5
Possible lateral strategy on USDJPY#USDJPY two trades for the next week. The price may end its bearish movement around 107.92 Area where a big bullish movement started on the 7th of Jan. Anyway... it's possible a little retracement before this. So 109.019 could be a very good level to short. It doesn't matter which one first. Both are good levels to trade once. 1st Trade BUY Entry point 107.930: it's the same level of a previous big impulse (7th of January) and 100% of Fibo SL 107.640 TP 108.560 2nd Trade SELL Entry Point: 109.00 SL 109.165 TP 108.840 (R:R 1:1) but you can set a wider TP if the price hasn't reached 107.94 area before.
by kitchen_trading
Bullish Pattern at the 100D EMA, USDJPY could go higherAfter a recent risk-off situation in the early part of this week due to the virus outbreak in China which Japanese Yen appreciating across the board, we are now seeing consolidation in USDJPY. In fact, USDJPY has created a bullish candlestick pattern comprising off a DOJI and a bullish hammer. What's more important is the fact that this formation has taken place at the 100D EMA. All the above technical factor along with the fact that the stock market seems to be recovering gives us a pretty solid bullish bias. So, I have bought USDJPY at 109.10 and will add more buys below 109 as long as the 108.70 number holds. There is a good chance that UJ can go to 110.30 and 111 in the coming weeks.
Long
by YourLazyTrader