In this video I breakdown why the U.S Dollar is fundamentally bullish against the Japanese Yen. 1.) Higher Interest Rate in the U.S 2.) Bond Yield Differential 3.) High U.S Inflation pushing Rate Hikes From Federal Reserve We also have some key technical levels to watch out for at 120.00 on the exchange rate.
USDJPY. Price closed above resistance trend line. Trend line resistance becomes support.
Price closed above 115.058 and retested the level with bull candlestick. Enter at 115.518.
Wait for a pull back into support. A bullish pin bar, engulfing bar, or inside bar may form on horizontal support for a long position.
Long USDJPY again. price is touched the bottom of wedge and is ready to goes high again.
USDJPY Entry Price 114.597; Take Profit Price 115.058
its very simple. if this is going to continue, it will stay over vwma/aavwap, and the 1.618 we can retrace quite a bit, and 114.75 isnt unthinkable if we close hourly below the middle horizontal line this would not negate the bull trend, and 115.235 is a decent target as long as we bounce
DXY D1 Inching closer to the downside break on a technical basis, Powell's comments yesterday pulled dollar down a bit, CPI inflation data this afternoon which may or may not catalyse this move. Something to be aware and protect against.
USDJPY created a series of lower highs. Pin Bar Located At 115.367.
USDJPY is bearish. Watch for bearish price action signals.
USDJPY. If price closes above 114.970, then watch for a bullish price action signal on the retest.
For this trade opportunity, look for a pin bar or rejection candlestick at the trend line, ema 10, and ema 20.
USDJPY is overextended and there were many late long positions added last Friday 8/10/21. Expecting a deeper retrace to 109.9 before any further upside.
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