USD/JPY trend

$usd/jpy

sell usd/jpy
with sl of 120.25 tp 119.35

Hi there! Care to share what you’re basing this trade on? Are you looking at fundamentals or certain technical signals?

I think that it is better to trade using the Fundamentals as of now waiting for the FOMC :slight_smile:

Yep this might be such a big market-mover that technicals might not matter so much at that particular time. Are you trading this event?

This was a good call. You haven’t told us what did you based your signal on?

Yes, it would be nice if equipped technical or fundamental reasons. I think the USD / JPY will continue to move bullish. USD Index is now back to the 96.xx area, and is expected in the next few years be able to level 120.xx.

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for the long term i am bullish on the pair i.e. bearish for the Japanese Yen given the economic outlooks of US as well as Japan. US is on its way to normalize the interest and Fed is also feeling that now or then they will achieve there inflation target while on the other there is no sign of inflation in their economy. Bank of Japan is ready to do anything to combat deflation in their economy. expectation are that they will step up their efforts to combat deflation in their October meeting.

Same here! Looks like the consolidation pattern for USDJPY is still holding for now but I agree that there’s upside bias since the Fed said they’re likely to tighten before the end of the year.

i agree with you Pipdiddy, moreover i feel market is following the buy on dips rule for this pair

These signals are based on technical analysis done using RSI, MACD indicators and other analysis

yeahh i do agree the market is following the buy on dips rule for the pair with sentiments being bullish BOJ monetary policy statement is lined up tomorrow and expectations is that it can go on with monetary policy easing lets see what BOJ do tomorrow. altough, if it does not ease its monetary policy in that case also its going to discourage the JPY bulls

I am still flat USD/JPY. I’d go long if we get above the August high or short if we get below the August low. This could be a turning point. The price is riding the 200 day moving average and the Yen could benefit from Asian equity troubles. So have those stop entries out there ready to get in if it breaks down.

-Adrian

USDJPY is showing bearish trend today. If it breaks the Suoort level of 118.60 then it can show goo downward movement.

@Rambo35 I am using technical analysis with the help of of RSI indicators and fibonacci analysis.

Making a bit of a jump in the last 20 minutes.