Capitalcore
Well-known member
USDJPY H4 Chart Insights and Price Action
The USD JPY currency pair, often referred to by its nickname, the "Ninja," represents the dynamic relationship between the US Dollar (USD) and the Japanese Yen (JPY). Known for its liquidity and sensitivity to monetary policies, it is a popular choice among forex traders seeking volatility and trends.
Today, the USDJPY is poised to respond to several critical events, including speeches from Federal Reserve officials like Susan Collins, Beth Hammack, and Austan Goolsbee. These speeches are expected to provide subtle cues on future US monetary policy, which could strengthen the USD if hawkish sentiments dominate. Additionally, US unemployment claims and the Philadelphia Fed Manufacturing Index will offer insights into labor market health and economic activity. On the JPY side, BOJ Governor Kazuo Ueda's speech could hint at any shifts in Japan’s ultra-loose monetary policy, further influencing the pair. Traders should watch for volatility, especially if Collins' or Hammack's comments diverge from expectations, potentially pushing USD JPY toward key support or resistance levels.
Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
The USD/JPY H4 chart displays a bullish trend, with the price currently trading above the Ichimoku cloud, a clear indication of upward momentum. Out of the last 10 candles, 6 are bullish, reinforcing the current positive sentiment. The price sits between the 0 and 0.236 Fibonacci retracement levels, suggesting potential room for further upside within this trend channel. The Williams %R indicator is hovering near the overbought zone, signaling a possible pullback or consolidation phase before another upward move. Traders should monitor the lower boundary of the channel for potential support and the upper boundary for breakout opportunities.
•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.
Capitalcore
The USD JPY currency pair, often referred to by its nickname, the "Ninja," represents the dynamic relationship between the US Dollar (USD) and the Japanese Yen (JPY). Known for its liquidity and sensitivity to monetary policies, it is a popular choice among forex traders seeking volatility and trends.
Today, the USDJPY is poised to respond to several critical events, including speeches from Federal Reserve officials like Susan Collins, Beth Hammack, and Austan Goolsbee. These speeches are expected to provide subtle cues on future US monetary policy, which could strengthen the USD if hawkish sentiments dominate. Additionally, US unemployment claims and the Philadelphia Fed Manufacturing Index will offer insights into labor market health and economic activity. On the JPY side, BOJ Governor Kazuo Ueda's speech could hint at any shifts in Japan’s ultra-loose monetary policy, further influencing the pair. Traders should watch for volatility, especially if Collins' or Hammack's comments diverge from expectations, potentially pushing USD JPY toward key support or resistance levels.
Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
The USD/JPY H4 chart displays a bullish trend, with the price currently trading above the Ichimoku cloud, a clear indication of upward momentum. Out of the last 10 candles, 6 are bullish, reinforcing the current positive sentiment. The price sits between the 0 and 0.236 Fibonacci retracement levels, suggesting potential room for further upside within this trend channel. The Williams %R indicator is hovering near the overbought zone, signaling a possible pullback or consolidation phase before another upward move. Traders should monitor the lower boundary of the channel for potential support and the upper boundary for breakout opportunities.
•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.
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