fbpx
High Leverage FX
  • Home
  • Market News
    • All
    • Economy
    • Forex
    • Markets
    • Opinion
    • Politics
    • Tech
    • World
    USDCAD Technical Analysis – 1.2640 Huge Upcoming Resistance

    USDCAD Technical Analysis – Pair holds below 1.3000 as investors gauge energy demand

    GBPUSD Technical Analysis – Rates & Divergence

    GBPUSD falls following highest ever CPI reading

    Risk-on mood on global risk assets follow by improving Shanghai COVID situation

    Risk-on mood on global risk assets follow by improving Shanghai COVID situation

    USD/MYR Technical Analysis

    USDMYR Technical Analysis

    AUDUSD Technical Analysis – Could hit 0.7500

    AUDUSD – Rebounce from a 22-months low on Hawkish RBA minutes

  • Economic Calendar
  • About Us
  • Trading Signals
  • Free Demo Account
  • en English
    ar Arabiczh-CN Chinese (Simplified)zh-TW Chinese (Traditional)en Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanishuk Ukrainian
High Leverage FX
  • Home
  • Market News
    • All
    • Economy
    • Forex
    • Markets
    • Opinion
    • Politics
    • Tech
    • World
    USDCAD Technical Analysis – 1.2640 Huge Upcoming Resistance

    USDCAD Technical Analysis – Pair holds below 1.3000 as investors gauge energy demand

    GBPUSD Technical Analysis – Rates & Divergence

    GBPUSD falls following highest ever CPI reading

    Risk-on mood on global risk assets follow by improving Shanghai COVID situation

    Risk-on mood on global risk assets follow by improving Shanghai COVID situation

    USD/MYR Technical Analysis

    USDMYR Technical Analysis

    AUDUSD Technical Analysis – Could hit 0.7500

    AUDUSD – Rebounce from a 22-months low on Hawkish RBA minutes

  • Economic Calendar
  • About Us
  • Trading Signals
  • Free Demo Account
  • en English
    ar Arabiczh-CN Chinese (Simplified)zh-TW Chinese (Traditional)en Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanishuk Ukrainian
High Leverage FX
No Result
View All Result
Home Market News Forex

USDJPY Technical Analysis – Technicals point to 112.00

Nathan Batchelor by Nathan Batchelor
January 14, 2022
in Forex
Reading Time: 3 min
0
USDJPY Technical Analysis – Technicals point to 112.00
395
SHARES
10.3k
VIEWS
Share on FacebookShare on Twitter

The US dollar has moved sharply lower from five-year trading high against the Japanese yen currency, as the mid-week sell-off in the greenback continues to gather downside momentum.

Most of the selling we are seeing is due to US dollar weakness, which has only been exacerbated by yesterday’s PPI inflation number, which came in much less than most analysts were expecting.

Furthermore, the latest report coming from Bank of Japan (BOJ) policymakers suggest that the central bank is now debating how soon they can start telegraphing an eventual interest rate hike.

This news is fairly seismic for the yen considering how long a zero-rate policy has been in place. Reports also suggest the hike could come even before inflation hits the bank’s 2% target.

The central bank of Japan is apparent becoming emboldened by broadening price rises and a more hawkish Federal Reserve. This will make the next BOJ policy meeting a real market mover if confirmed.

While an actual rate hike is hardly imminent and the BOJ is on course to maintain ultra-loose policy at least for the rest of this year, financial markets may be underestimating its readiness to gradually phase out its once-radical stimulus program.

In terms of impact on the USDJPY pair. We should probably expect more yen strength. Even more so if the US dollar continues to go into meltdown mode. Personally, I think a test of the 112.00 support zone now looks plausible.

According to the ActivTrader Market Sentiment tool shows that some 67% of traders are bearish towards the USDJPY pair, which is not surprising, considering the huge reversal from the 116.00 handle.

USDJPY Short-Term Technical Analysis

Technical analysis on the four-hour time frame shows that the USDJPY pair has staged a major reversal. According to the MACD indicator, significant amounts of bearish price divergence has been reversed around the 114.50 level now.

The USDJPY pair is also trading inside a large triangle type pattern. After failing at the top of the triangle it would seem bears are going to test towards the bottom of the channel, around the 112.00 level.

See real-time quotes provided by our partner.

USDJPY Medium-Term Technical Analysis

The daily time frame is showing that the USDJPY pair has broken to the downside and is now trying to test the Ichimoku cloud. Weakness under the Ichimoku cloud would mean a medium-term sell signal is now in place.

A very important multi-year trendline is also seen on the daily time frame. We could see an important test of the rising trendline, currently situated around the 112.00 support level.

See real-time quotes provided by our partner.

Tags: BoJUSD/JPY
Previous Post

US Dollar Index Technical Analysis - Preparing to test initial breakout spot

Next Post

EURUSD Technical Analysis - 1.1390 Is the key level this week

Nathan Batchelor

Nathan Batchelor

Related Posts

USDCAD Technical Analysis – 1.2640 Huge Upcoming Resistance
Forex

USDCAD Technical Analysis – Pair holds below 1.3000 as investors gauge energy demand

May 18, 2022
USD/MYR Technical Analysis
Forex

USDMYR Technical Analysis

May 18, 2022
AUDUSD Technical Analysis – Could hit 0.7500
Forex

AUDUSD – Rebounce from a 22-months low on Hawkish RBA minutes

May 17, 2022
USDMYR Technical Analysis
Forex

USDMYR Technical Analysis

May 16, 2022
EURUSD Technical Analysis – Bearish Pattern Live
Forex

EURUSD Technical Analysis – Bearish Pattern Live

May 16, 2022
GBPUSD Technical Analysis – Huge Triangle Pattern Forms
Forex

GBPUSD Technical Analysis – Sterling Car Crash Continues

May 16, 2022
Next Post
EURUSD Technical Analysis – 1.1390 Is the key level this week

EURUSD Technical Analysis - 1.1390 Is the key level this week

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


Market Overview

Lieber Charly, genau was muss ich ausführen wann ein Match {stoppt | verhindert | stoppt die Antwort?

by hlforex
May 18, 2022
0

Unsere eigene ansässige Qual Tante, Internet-Dating Spezialist Charly Lester, liefert Vorschlägen zu wie vorzugehen ist wenn jemand du...

Categories

  • Economy
  • Forex
  • Gadget
  • Markets
  • Opinion
  • Politics
  • RSS Feed
  • Startup
  • Tech
  • Trading Signals
  • Uncategorized
  • World

Site Navigation

  • Home
  • Market News
  • Economic Calendar
  • About Us
  • Trading Signals
  • Free Demo Account
High Leverage FX

We aim to bring you the most update and actionable information so that you can trade the financial markets with confidence and security

We are social

  • Home
  • Market News
  • Economic Calendar
  • About Us
  • Trading Signals
  • Free Demo Account

© 2019 High Leverage FX - All Rights Reserved.

No Result
View All Result
  • Home
  • Market News
    • Forex
    • Economy
    • Opinion
    • World
    • Markets
    • Politics
  • Economic Calendar
  • Trading Signals
  • About Us
  • Free Demo Account
en English
ar Arabiczh-CN Chinese (Simplified)zh-TW Chinese (Traditional)en Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanishuk Ukrainian

© 2019 High Leverage FX - All Rights Reserved.

Please share your location to continue