USDJPY Chart, Analysis, Setups & Signals 20-04-2017

USDJPY Chart, Analysis. For the last USDJPY breakout update, initial bearish price targets were set at 109.86 and 108.19. As of last Monday, the pair has traded through this final target and is now retracing off of yearly lows at 108.13….

 

Forecast USDJPY

 

USD FORECAST : Neutral

—> US Dollar May Rise as Trump Jawboning, Geopolitical Fears Recede

JPY FORECAST : Neutral

—> USDJPY Carves Bearish Series as Risk Sentiment Abates

 

Candlestick Patterns USDJPY

 

USDJPY Chart

 

Sentiment USDJPY

 

USDJPY Chart

 

Technical Summary USDJPY

 

USDJPY Chart

 

Technical Analysis USDJPY

 

USDJPY Chart

 

Latest News USDJPY

 

USDJPY Next Pending Breakout

For the last USDJPY breakout update, initial bearish price targets were set at 109.86 and 108.19. As of last Monday, the pair has traded through this final target and is now retracing off of yearly lows at 108.13.

As such, traders may again plan for fresh bearish breakouts beneath the new standing low. Daily ATR for the USDJPY now stands at 79 pips. This means that traders looking for a 2x ATR extension may find price targets near 106.55. Using a 1x ATR stop at 108.92 may be considered, creating an initial 1:2 risk/reward ratio.

Currently the 200 day MVA (simple moving average) for the USDJPY is found at 109.95. In the event that the pair fails to breakout and rebounds higher, traders may consider deleting any pending orders to sell the market.

In this bullish scenario, traders may reevaluate the USD/JPY trend and place new entries in the markets chosen direction.

Japanese Yen Steady As March Trade Figures Beat Forecasts

  • Japanese trade was robust in March

  • Both exports and imports surged, according to official data

  • The numbers had little impact on the Yen, however

The Japanese Yen was steady against the US Dollar Thursday following the release of official trade data which showed Japan’s export machine in fine form and imports rising sharply too.

The overall visible trade balance for March was JPY614.7 billion ($5.7 billion). That was well above the expected JPY605.65 billion, but below February’s JPY813.4 billion. The adjusted overall balance was JPY172.2 billion.

Behind the headlines imports rose 15.8% on the year in March, hugely ahead of the 10.2% markets were expecting. Exports surged 12%, making an even greater nonsense of 6.2% forecasts. The largest rise was seen in exports to China, which rose 16.4%, but shipments rose to every major economic region.

However, this quite robust data had little impact on a USDJPY pair currently concerned more with geopolitics than with numbers. The greenback continued to bump around the mid-to-high JPY108 area, which seems to be holding as the lower bound of its long fall from the 114s in mid-March.

Earlier in the session, Finance Minister Taro Aso reportedly said that Japan must eventually raise taxes, cut healthcare and pensions while pursuing steps to raise inflation and slash Japan’s vast public debt, but he has said such things before and markets do not feel that such action is imminent.

Earlier still a monthly poll of manufacturing sentiment from Reuters found firms more upbeat than they have been since the financial crisis days of 2008. The poll tracks the official “tankan” survey.

 

USDJPY Chart, Analysis, Setups & Signals 20-04-2017

 

USDJPY Chart

USDJPY Chart.

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