USDJPY | Perspective for the new week | Follow-up

업데이트됨

The USDJPY landscape is a complex interplay of monetary policy divergence between the US and Japan, actively influencing the Yen's weakening. Yet, optimism surrounding the peak of US interest rates introduces an intriguing caveat to the Greenback's ascent. Federal Reserve minutes unveiled this week emphasize a consensus among committee members about "significant upside risks to inflation", amplifying the allure of further tightening.

Amid robust economic data – particularly retail sales – a compelling case for heightened tightening unfolds. Meanwhile, market participants exercise caution, mindful of potential FX intervention by the Bank of Japan (BoJ), evoking memories of last year's intervention triggered by similar price action levels.

The yen's depreciation heightens vigilance, with traders poised for possible Japanese authority intervention. As attention shifts to Jackson Hole, Wyoming, where top central banks gather annually, all eyes are on Fed Chair Jerome Powell's upcoming speech. Anticipated next Friday, Powell's address is a golden opportunity for insights into the interest rate outlook, potentially laying the groundwork for the Fed's next policy steps.

USDJPY Technical Analysis:
In this video, we conduct an in-depth technical analysis of the USDJPY chart, carefully examining the current market structure. Our primary focus is still within the key zone of 145.000, which will serve as our center of focus ahead of the upcoming week. As price action remains within this zone, it becomes an area of interest that has led to choppy consolidation before a clear direction emerges. The market's reaction around this area at the beginning of the new week will heavily influence the trajectory of price action in the days to come.

Join me on this journey as we explore potential trading opportunities using trendlines, key levels, and chart patterns. Be sure to stay connected to my channel, follow my updates, and actively engage in the comment section as we navigate the dynamic USDJPY market together.

Wishing you the best of luck as you chart your course in the USDJPY market this week.

Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.

It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.

Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.

Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.

노트

While the significance of the identified descending trendline in the video continues to shape price action's trajectory, we acknowledge the prevailing uncertainty at this juncture. Trading dynamics remain within a range, confined between 145.490 and 145.150. Presently, the price resides above the trendline, signaling the potential for a breakout of the resistance level at 145.490, which could prompt buying opportunities. Nevertheless, we remain vigilant of potential selling pressures, emphasizing the importance of maintaining awareness and readiness in our approach.

Good Morning

액티브 트레이드

UPDATE

Buy position triggered and as discussed during our live session this morning, secure all positions

액티브 트레이드

UPDATE

SEcure all buy position as we look out for more trading opportunities

액티브 트레이드

Three position running with a total of 130 pips in profit; secure positions

액티브 트레이드

UPDATE

액티브 트레이드

The bullish outlook remains intact as price action holds above the identified ascending trendline on the 1-hour timeframe. However, two critical factors require attention at this point:

i. Persistent selling pressure near the 146.300 level, posing a resistance.
ii. Price currently sits at a significant confluence (ascending trendline and 145.950 level), presenting an equilibrium between buyers and sellers.
As a strategic move, we'll secure existing buy positions and closely observe market behavior within this pivotal zone, while considering that a breakdown/retest of this zone could incite selling opportunities.

Good Morning

액티브 트레이드

UPDATE

Sell triggered; secure position

액티브 트레이드

Selling pressure remains persistent as the US Dollar grapples with waning demand, driven by investor preference for risk-sensitive assets. Let's safeguard our positions while remaining vigilant for potential trading prospects, especially in light of the upcoming housing data release from the US economic docket today.

Good Morning

액티브 트레이드

UPDATE

Fall out from our live session this morning

액티브 트레이드

UPDATE

Over 300 pips in profit from 5 positions; secure positions while we look out for more opportunities

매매 수동청산

Having capitalized on a 300-pip decline through 5 sell positions, we now observe price action undergoing a retracement phase. My assessment points toward a continuation of the downtrend as today's prevailing theme, provided price activity remains situated below the confines of the descending trendline. Nonetheless, it is prudent to recognize the influence of upcoming economic events that possess the capacity to challenge this technical outlook. As we stand at this crucial juncture, exercising discretion in our trading choices is pertinent. Should the price break/retest the descending trendline, we will consider the possibility of exploring buying potentials.

Good Morning

액티브 트레이드

As discussed during our live session this morning; price action breaks out of both the descending trendline and the 145.490 level to trigger a buy position; secure both buy positions as we anticipate Durable Goods Order and Initial Jobless Claim data from the US economic docket coming up in 5 minutes from now.

액티브 트레이드

Price action continues its climb, marking a second consecutive day of new highs. This upward movement is bolstered by a Tokyo CPI print that aligns with the BoJ's dovish stance, further weakening the Yen. With approximately 90 pips accrued across three positions, it's prudent to secure all positions. We remain vigilant for potential buying opportunities ahead of today's events.

Good Morning