USD/JPY Discussion

Sell limit hit

According to my measurements, we are right under a resistance zone which is 157.780 - 157.950. If it will keep going up, I have another significant convergence zone between 158.730 - 158.940, then comes the notorious 160 zone.

Friday's price action was very bullish, so I will not open short positons at any of theese levels without having price action to confirm the bearish switch.

As for the October gap to close, we would need a very strong Yen or very weak USD (probably both).

With the BoJ just raising rates, I can't imagine what else they could do in the short term to strengthen the Yen, apart from an intervention. Even if they would intervene, I don't think the move would be enough to take the price all the way down to the gap from where we are now.

The USD being also relatively weak (compared to the last 2-3 years values), to weaken it considerably in the short term, we would need some dramatic events. For example, if the POTUS would fire Jerome Powell and nominate himself as the FED chair, we might see the gap closed in a few days.

These being just my personal views, they might be partially or completely wrong so treat them accordingly

I have telling your before.
I have reach my target on GBPJPY..
Just wait USDJPY hit my target
GBPJPY maybe will going down to 208.600 so just keep selling it..

On Friday, the USDJPY price action on the daily time frame made a bullish breakout from an intra-day area of consolidation to retest the 157.710 horizontal resistance. Technically, we may see a bullish follow-through to retest the next significant horizontal resistance at the 160.150 area (red)

I may be wrong. Trade safe and prosper.

KP

GJ

On the 5-minute chart of the USD/JPY, the Tokyo market fell early on Monday in reaction to Friday's rebound, but the M30 orange-green line remained stagnant. It failed to break the green line downward three times and is now on an upward trend. With just over an hour until London, we're waiting to see how it goes. It may return to a buying trend.

Hello everyone! For the USDJPY pair, my target of 156.93 from my previous forecast has been met. The price broke through this level and consolidated above it, retesting it on a pullback to it and bouncing upward. The next target for a continued bullish move could be the resistance level at 158.22.

what's your bias?

hohohoho

Target hit

Inside day.