USDJPY Daily Signals VS Setup Chart 31-01-2017

USDJPY Daily Signal

USDJPY Daily Signals.

 

 

USDJPY Daily Signals 31-01-2017(1)

 

USDJPY Daily Signals

 

 

USDJPY Setup Chart 31-01-2017(2)

 

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 Daily Signals

 

 

USDJPY Daily Signals Result(3)

 

USDJPY Daily Signals

 

 

Yen Japan

The yen (Japanese: Hepburn: en, symbol: ¥; code: JPY) is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the euro. It is also widely used as a reserve currency after the U.S. dollar, the euro, and the pound sterling.

The concept of the yen was a component of the Meiji government’s modernization program of Japan’s economy; which postulated the pursuit of a uniform currency throughout the country modeled after the European decimal currency system. Before the Meiji Restoration, Japan’s feudal fiefs all issued their own money, hansatsu, in an array of incompatible denominations.

The New Currency Act of 1871 did away with these and established the yen, which was defined as 1.5 g (0.048 troy ounces) of gold, or 24.26 g (0.780 troy ounces) of silver, as the new decimal currency. The former han (fiefs) became prefectures and their mints private chartered banks, which initially retained the right to print money. To bring an end to this situation the Bank of Japan was founded in 1882 and given a monopoly on controlling the money supply.

Following World War II the yen lost much of its prewar value. To stabilize the Japanese economy the exchange rate of the yen was fixed at ¥360 per $1 as part of the Bretton Woods system. When that system was abandoned in 1971, the yen became undervalued and was allowed to float. The yen had appreciated to a peak of ¥271 per $1 in 1973, then underwent periods of depreciation and appreciation due to the 1973 oil crisis, arriving at a value of ¥227 per $1 by 1980.

Since 1973, the Japanese government has maintained a policy of currency intervention, and the yen is therefore under a “dirty float” regime. This intervention continues until today. The Japanese government focuses on a competitive export market, and tries to ensure a low yen value through a trade surplus. The Plaza Accord of 1985, temporarily changed this situation; from its average of ¥239 per US$1 in 1985, to ¥128 in 1988, and led to a peak value of ¥80 against the U.S. dollar in 1995, effectively increasing the value of Japan’s GDP to almost that of the United States.

Since that time, however, the yen has greatly decreased in value. The Bank of Japan maintains a policy of zero to near-zero interest rates and the Japanese government has an extreme anti-inflation policy.

%d bloggers like this: