USD/JPY Today's Market Analysis
【Daily Chart】
【4-Hour Chart】
Tokyo Session Strategy
Fundamental Forecast .USD/JPY is trending towards dollar-selling.At around 141 , there is a rebound, but the upside is heavy, and there’s a sideways consolidation situation.The daily low has also been updated, so the dollar-selling trend may continue!?
Daily Chart
Yesterday ended with a lower shadow but confirmed a bearish candle. Today started below the -2σ Bollinger Band, so the resistance line seems to be around 142 from the early to mid-00s, and we anticipate a temporary decline there. "Flat to negative outlook" *However, the 60-minute chart looks heavy on the upside but poised for a rise, so I'm interested in how the Tokyo market will react. The daily chart upper points are around 142.00 , 142.15 to 20 , and further at 142.40 to 50 .
4-Hour Chart
Despite the heavy upside, the previous candlestick is bullish and is slightly lifting the lows, so a rebound seems imminent. As we pass 8 AM and it begins to rise, if it exceeds around 142.15 to 20 , it tries to reach the -1σ Bollinger Band at around 142.35 and the 10EMA at 142.50 to 60 . However, if it drops, be aware of potential downtrends if it dips below around 141.70 !
60-Minute Chart
10EMA has crossed above the middle line in a golden cross, and the MACD also indicates a golden cross, suggesting a "flat to positive outlook." With the Bollinger Band expanding, if it breaks above 142.15 to 20 , it might follow an upward expansion trend, but how much it can sustain the rise is debatable! Be cautious of selling pressure after an upward move from the upper points!
Today’s USD/JPY Forecast
The daily chart is in a downtrend, but after yesterday’s fall, there’s a chance that the sell-off has ended and a rebound is due for the weekend. Considering it’s the weekend, it might be hard to shift to a risk-on mood, suggesting a higher likelihood of sideways consolidation overall – "flat to negative outlook" may continue.
But don't rely on assumptions - follow the charts and go with the flow!!
As of 8 AM, we see a buying-back scenario and the market on the rise. With the neck-line around 142.15 to 20 , if it surpasses this, we might want to pause on selling into the rally. Look out for rebounds around the 142.30 vicinity, the 4-hour chart's 10EMA at 142.50 to 60 . If it surpasses these levels, then 142.85 to 90 , and around 143.00 are next. If we see a drop below around 142.00 , watch for 141.90 , 141.75 , and the trendline at 141.65 for potential support. Weak rebounds may lead to a breach down, looking towards 141.40 , 141.20 , and between 141.05 to 141.00 . This morning’s atmosphere leans towards buying back. Even if it turns into a buy-back scenario, it’s likely to range in the 142 zone. Fundamentally, with dollar-selling dominance and no bullish factors, it’s hard to foresee a rally, but what will the result be!?
USD/JPY Today's Forecasted Range
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