FXTM information and reviews
OctaFX information and reviews
XM information and reviews
FXCC information and reviews
Libertex information and reviews
FxPro information and reviews

Japanese Yen Might Change the Trend

21 June 2022

At the beginning of the new week, the Japanese yen against the US dollar is consolidating but looks quite weak yet. USD/JPY buyers are not gone: they are lying low, waiting for a good time to resume action. Market players are saying that the devaluation of the yen has become one of the main trading ideas in the currency market this year. The Japanese yen has lost more than 16% and can lose more but investors are ready to change the trend. The reason isthat the Bank of Japan will most probably have to correct its monetary policy to catch up with other regulators.

This viewpoint is based on certain livening up of inflation, while the BoJ had been fighting its low rates for decades. The situation has changed, hence, foundation for changing the monetary policy has appeared.

On H4, USD/JPY has corrected to 131.50. At the moment, the market continues developing a growing wave to 136.80 (at least). Currently, there is a consolidation range forming around 134.40. We expect an escape upwards and growth to 136.80, followed by a decline to 131.50. This tech picture is confirmed by the MACD. Its signal line is trading above zero. So, we expect growth to new highs.

USD/JPY H4 chart

On H1, USD/JPY has completed a correction to 131.51. Today the market continues developing another growing wave. Currently, there is a consolidation range forming around 134.40. We expect a test of the range from above, followed by growth to 135.10. If this level is broken away, a pathway for growth to 136.80 might open. Technically, this scenario is supported by the Stochastic oscillator. Its signal line is forming a structure of growth to 50. And as soon as it is broken away, a pathway to 80 will open.

USD/JPY H1 chart

RoboForex Analytical Department



USD/JPY sticks to its consolidative theme
USD/JPY sticks to its consolidative theme

USD/JPY remains side-lined for the time being, note FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang. Yesterday, we highlighted that ‘upward momentum has slowed and USD is unlikely...

5 Aug 2022

USD/JPY pares intraday losses to multi-week low
USD/JPY pares intraday losses to multi-week low

USD/JPY stages a goodish bounce from a multi-week low touched earlier this Friday. Recovering US bond yields help revive the USD demand and offers support to the pair...

29 Jul 2022

The Yen updated the lows
The Yen updated the lows

USDJPY reached new highs – the “greenback” continues to get stronger. The Japanese Yen plunged against the USD. The current quote for the instrument is 137.02. A new high for the pair is at 137.28....

11 Jul 2022

The Yen may drop
The Yen may drop

USDJPY is preparing a new attack on the highs. The Japanese Yen is slowly falling against the USD. The current quote for the instrument is 136.16. The statistics published...

8 Jul 2022

200-hour SMA, around 135.60 might continue to cap the upside
200-hour SMA, around 135.60 might continue to cap the upside

USD/JPY recovered a few pips from the daily low, though lacked any follow-through buying. Ascending trend-line breakdown and failure near the 200-hour SMA favours bearish traders...

4 Jul 2022

The Yen hit new lows
The Yen hit new lows

USDJPY updated its 24-year highs and may continue rising. The Japanese Yen hit a new 24-year low against the USD. The current quote for the instrument is 136.25. The high in USDJPY...

22 Jun 2022

HFM information and reviews
IronFX information and reviews
FXCM information and reviews
Pepperstone information and reviews
NordFX information and reviews
LegacyFX information and reviews

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.