Trading Outlook – USD/JPY

Jarratt Davis

Special Consultant to the FPA
Hey Everyone,

Originally updated: 06.47am

Current Price: 119.39

Currency Pair: USD/JPY

Sentiment: Bullish

Market focus:

In today’s trade set up we will be focussing on short term buying opportunities on the USD/JPY.

Fundamentals:

We are looking for buying opportunities on the USD/JPY today after the BOJ ended its final policy meeting for the year, confirming its pledge to continue its monstrous stimulus program as it targets a 2% inflation rate. Asian shares saw good follow through from yesterdays lucrative move in US equities with the MSCI Asia Pacific Index up 1.7%.

Technicals:

I expect this pair to continue its up move during the session, eventually hitting 120.50 or higher. If the market does retrace back down then there is a nice confluence zone of support that traders could use as a reference to buy from again.

The confluence zone is at 119.05-119.00

Stop loss could be placed at 118.65

P.S - If you want to learn more about how I trade, check out this link below

Forex Peace Army - Jarratt Davis
 
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irongoose

Private, 1st Class
Haven't received any E-mails from you for the week of 12/22/14 - 12/26/14 so I was wondering if you have taken this week off and will continue back soon?
 

Jarratt Davis

Special Consultant to the FPA
Haven't received any E-mails from you for the week of 12/22/14 - 12/26/14 so I was wondering if you have taken this week off and will continue back soon?
Hi,

Yes I close down during xmas whilst the markets are quiet and will be posting fresh material from the 5th of January
 
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idimitrov

Master Sergeant
The US dollar was down against the Japanese Yen on Friday. At the end of the trading session USD/JPY was trading at 102.48, shedding 0.73%.
 

idimitrov

Master Sergeant
The most probable movement of the USD/JPY is falling to the 100.00-101.00 zone, and as a major resistance level will perform the 103.50 zone. An alternative view - the possible growth of the pair to the level of 106.30. At the same time, we must remember that the USD/JPY is now at Pivot Point level of the first half of 2014 year, and perhaps for some time it will follow along this line.
 

deresel

Sergeant
The US dollar remarked modest decrease against the Japanese Yen on Monday. The pair remained almost unchanged and lost only 7 pips. The graphics continue to develop under moving averages, while the index of relative strength remain on neutral territory. The outlook remains neutral in the short term, levels at 101.20 and 103.70 retain their key role.
 

idimitrov

Master Sergeant
The US dollar recorded solid growth versus the yen on Monday, broke a six-day negative series and nearly recouping its losses. The dollar added almost 220 pips to a closing price of 102.77 after trading in the 102.88 and 100.52. Price overcame the mean values and the index of relative strength added significant positions, suggesting additional gains.
 
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