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Japanese Yen Short-term Technical Outlook: USD/JPY Rally Weak


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Japanese Yen Technical Price Outlook: USD/JPY Short-term Trading Levels

  • Japanese Yen Update Technical Trading Levels – Daily & 240 Minute Charts
  • USD/JPY Four-Week Rally Stopping at Uptrend Resistance – Risks to Near-Term Exhaustion
  • Support 141.55, 139.41, 137 – Resistance 146.23, 147.67, 149.07

U.S. Dollar Attempting to mark the fifth consecutive weekly advance against Japanese yen Less than 1.5% from annual high with USD/JPY trading. While the broader outlook remains constructive, an immediate advance could weaken in the coming days after a reversal of the uptrend resistance. These are the update target and invalidation level it’s on USD/JPY Near Term Chart. review my latest weekly strategy webinars And much more for an in-depth analysis of this Yen technical setup!

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Japanese Yen Price Chart – USD/JPY Daily

Japanese Yen Price Chart - USD/JPY Daily - US Dollar vs. Yen Short-term Trade Outlook - Yen Technical Forecast

chart prepared by Michael Boutrostechnical strategist; USD/JPY on Tradingview

Technical Outlook, USD/JPY is trading within the range of a broader ascending channel formation, which is turning March low with an embedded . expands with hay-stalker Extending to May lows guiding the most recent progress. A four-week rally from August lows could be at risk of exhaustion here after reversing the 61.8% parallel earlier in the month, with daily momentum divergence further exposing the risk. That said, this pullback has been focused in relation to the mid-line and we are looking for a breakout of the objective weekly opening-range to give some guidance here.

Japanese Yen Price Chart – USD/JPY 240min

Japanese Yen Price Chart - USD/JPY 240min - US Dollar Vs Yen Short-term Trade Outlook - Yen Technical Forecast

chart prepared by Michael Boutrostechnical strategist; USD/JPY on Tradingview

notes: A closer look at USD/JPY price action highlights yesterday’s US CPI bounce which essentially defines a weekly opening-range just above the mean line. a break below the near term help Feather 141.55 There will be a risk of a major pullback within the uptrend towards 38.2% fibonacci Retracement of August Rally at 139.41, Finally, a break under 137The -handle would be needed to invalidate the broader uptrend.

A top breach of the weekly range-high is exposed later resistance Closer to 1998 high-week target 146.23 At the high of 1998 . Supported by 147.67 and 100% extension of 2011 advance 149.07– See a huge reaction when you get there.

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ground level: A reversal of uptrend support threatens a bull-market correction – with immediate focus on the break of the weekly opening-range for guidance. From a trading standpoint, losses should be limited to the lower parallel/137. If price is moving higher on this segment, a breach/close above 146.23 is needed to clear the way. review my latest Japanese yen Weekly Price Outlook For a closer look at the longer term USD/JPY technical trading levels.

Japanese Yen Trader Sentiment – ​​USD/JPY Price Chart

Japanese Yen Trader Sentiment - USD/JPY Price Chart - US Dollar vs. Yen Retail Positioning - Short-term Technical Outlook

  • summary of IG Client Sentiment Shows traders are net-short USD/JPY – the ratio is at -3.23 (23.65% of traders are long) – generally fast Reading
  • Long positions are 1.83% lower than yesterday and 7.82% lower than last week
  • Short positions are 6.26% lower than yesterday and 7.40% lower than last week
  • We generally take a contrarian view to crowd sentiment, and the fact that traders are pure-short suggests that USDJPY price may continue to rise. Traders are less net-short than yesterday but more net-short than last week. The combination of the current situation and recent changes gives us a . Gives another mixed USD/JPY trading bias from Rate Approach

the customers are Net long.

the customers are pure short.

change in




Daily 16% 0% 4%
weekly 15% -1 1% -5%


US/Japan Economic Calendar

US/Japan Economic Calendar - USD/JPY Key Data Release - USDJPY Weekly Event Risk - FOMC - Fed Interest Rate Decision

economic calendar , Latest economic developments and upcoming event risks.

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— written by Michael BoutrosTechnical Currency Strategist with DailyFX

follow michael on twitter @MBForex



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