USD/JPY Discussion

any thoughts on long position for usd/jpy at 158.690 ?
pretty new to trading only been doing it for a year now so any advice would help

Inside day.

morning @everyone this is my view on USDJPY. SHORTING USDJPY SL: 159.250 TP:157.500

Great short today from PDH

The dollar-yen exchange rate is expected to rise as sentiment in the Middle East market remains unchanged, driven by dollar buying.

The dollar-yen pair has shifted from buying to selling, however, buying pressure remains strong, so it's uncertain what will happen. Buying on dips might be a good idea.

Today short from asia high, small risk.

The USDJPY price is moving along a local uptrend line formed on the H1 timeframe. I see the resistance level of 160.40 as the target for a further bullish move.

Line in the sand is 160 . IF it is broken. It is considered as liquidation hunting. BOJ will intervention to prop up the yen with coordination with USA. Prices above 160 will destroy Japanese economy.

In 2024 Interventions: BOJ Authorities spent approximately $36.8 billion (5.53 trillion yen) in a single intervention in July 2024 to support the yen after it fell to a 38-year low.
Any market marker wants to challenge BOJ at 160?

Target hit

UJ will going 161.4 before it jump to 164

Current Market Structure

1. Trend: Bullish (uptrend)
2. Price zone: 158–159
3. Market is approaching 160, which is a very important psychological level

Key Levels

1. Resistance: 160.00 (very strong – possible government intervention)
2. Support 1: 157.50
3. Support 2: 156.00

Buy Scenario (Trend-following)

1. Entry: Around 157.50 – 158.00 (on pullback)
2. Take Profit: 159.80 – 160.00
3. Stop Loss: Below 156.80

Idea: Buy dips while the trend is still strong.
Sell Scenario (High-risk, reversal)

1. Entry: Near 159.80 – 160.20
2. Take Profit: 157.50
3. Stop Loss: Above 160.80

Reason: Japan may step in to strengthen the yen if price breaks 160.