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USD/JPY

USDJPY Short-Term Outlook: This discussion analyzes the current price movement of the USD/JPY pair. The uptrend remains strong, and the week has just begun. Based on market analysis, a buy opportunity is seen at the 159.941 level. A sharp pullback is possible, but we should act quickly to maximize the potential of the important month ahead, with at least 159.451 as our target. Analyzing the monthly data over the weekend, we anticipate a strong uptrend this week, supported by a reversal pattern in four candlesticks. The L-5 buy signal supports this trend, and we expect the market to close up another 300-400 pips. This will form a double top and reversal signal, representing the peak of this growth phase. The 159.951 level is significant on the 1-hour and 4-hour charts. The price is currently trading at 160.071, just 12 pips above this level. Therefore, to confirm a classic selling pattern and move into the selling zone on the hourly timeframe, it would be wise to wait until the 1-hour candlestick closes below 162.951. On the 4-hour timeframe, after a false bullish breakout, the price will return to the breakout level and fall to 158.541.

USD/JPY

At the same time, the euro and British pound are expected to weaken against the US dollar, and a decline in the currency pair with the Japanese yen is necessary for the USD/JPY pair to rise. The market has already experienced an upward correction, and it is still appropriate to sell at a good price. The market is currently showing a significant improvement, and it would be wise to target the 159.191 area where there is a support level. If the exchange rate breaks above the current level and reaches the resistance level of 160.391, this will be an excellent opportunity to strengthen the exchange rate in the market.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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