USD/JPY Price Outlook

Discussion in 'Forex' started by MrKJoe, Dec 5, 2019.

  1. MrKJoe


    USD/JPY Price Outlook
    • The pair continues under broad-based selling pressure.
    • Will the bulls be able to break the 109.90 key resistance level?
    USD/JPY Price Outlook: Under broad-based selling pressure
    The week, and month, started in favour of a broad-based USD weakness in the financial markets. Dragging the USD/JPY pair to test the 109.00 handle.

    The sellers appeared not only in the Forex sphere but in major benchmarks across the globe. Particularly in the European indexes, which posted fresh lows among recent trade war headlines.

    Also, the risk sentiment weighed on the price action and helped to give a boost to the JPY demand and other safe-haven assets. The spot is currently trading below the 50 SMA at the 4H chart and continues to hover below the 109.00 neighbourhood. There is an ongoing sentiment that a leg lower could happen in the coming hours, due to the latest developments in the trade front between China and the US.
  2. maxinger


    The last time I day traded jpy was 2 years ago !!!!
    jpy hardly move over the past 2 years.
    And it will continue not to move until the chart says otherwise.
    I have already archived my jpy chart because it rarely move

    between 2007 to 2017, jpy moved alot. During those times, big boys and traders would listen to what BOJ would say. and it was great for day trading.
    Nowadays we don't care what BOJ say because it wouldn't move the market.

    so be careful with news from internet.
    There are lots of junk worthless news out there.
    always read news with eyes and mind closed so as not to contaminate your mind.
    always do your own analysis.

    Similarly Nikkei doesn't move much compare with other index futures.

    Anyway read my posting with a grain of salt and do your own analysis.

    Last edited: Dec 5, 2019
    easymon1 likes this.
  3. pipeguy


    Japanese government will soon start to borrow heavily again because BoJ runs out of short-term bonds to control the yield curve, so I guess Yen depreciation is imminent.