USDJPY rebounds above 38.2% and into the swing zone


USDJPY retraces above swing zone and 38.2% retracement

The USDJPY

USD/JPY

USD/JPY is the currency pair comprising the United States dollar (symbol $, code USD) and the Japanese yen from Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed to buy one US dollar. For example, when USD/JPY is trading at 100.00, that means 1 US dollar equals 100 Japanese yen. The US Dollar (USD) is the most traded currency in the world, while the Japanese Yen is the third most traded currency in the world, resulting in an extremely liquid pair and very tight spreads, often staying within range from 0 pip to 2 pip in most markets. currency brokers. Although the USD/JPY range has traditionally not been particularly high, the lack of significant price action often associated with other JPY pairs makes it easier to trade. This is especially true for short-term traders, although without offering a good pip potential. Even though USD/JPY is the second most traded pair in the world, it is not as popular as one might think when it comes to retail traders. Trading USD/JPY The JPY is highly regarded as a safe-haven currency, with investors often increasing their exposure after periods of uncertainty or market-induced fallout. The United States and Japan being highly developed economies, several key factors affect the value. of either currency. This includes a range of economic indicators such as gross domestic product (GDP) growth, inflation, interest rates and unemployment data. The monetary policy of the US Federal Reserve and the Bank of Japan is also a determining factor in the value of each currency.

USD/JPY is the currency pair comprising the United States dollar (symbol $, code USD) and the Japanese yen from Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed to buy one US dollar. For example, when USD/JPY is trading at 100.00, that means 1 US dollar equals 100 Japanese yen. The US Dollar (USD) is the most traded currency in the world, while the Japanese Yen is the third most traded currency in the world, resulting in an extremely liquid pair and very tight spreads, often staying within range from 0 pip to 2 pip in most markets. currency brokers. Although the USD/JPY range has traditionally not been particularly high, the lack of significant price action often associated with other JPY pairs makes it easier to trade. This is especially true for short-term traders, although without offering a good pip potential. Even though USD/JPY is the second most traded pair in the world, it is not as popular as one might think when it comes to retail traders. Trading USD/JPY The JPY is highly regarded as a safe-haven currency, with investors often increasing their exposure after periods of uncertainty or market-induced fallout. The United States and Japan being highly developed economies, several key factors affect the value. of either currency. This includes a range of economic indicators such as gross domestic product (GDP) growth, inflation, interest rates and unemployment data. The monetary policy of the US Federal Reserve and the Bank of Japan is also a determining factor in the value of each currency.
Read this term fell to test its 200 hourly MA and 50% of the latest trend rose in the pair near 137.35. The low of the day hit 137.37 where the buyers leaned in and pushed the pair higher.

Most recently the USDJPY moved above a swing zone between 137.34 and 137.859 as well as the 38.2% break from the same move higher at 137.83.

The price just hit a new US session high at 138.04.

And after?

The 38.2% and swing zone has now moved into support. The sellers had their shot. They briefly pushed to and through the 200 hour MA, but found willing buyers near the 50% mark. These dip buyers were rewarded with a break above the swing zone and broke 38.2%.

Sellers ?

Well, they had to cover up.

The next upside target is the 100 hourly MA at 138.293. If this level is tested, buyers and sellers will have another decision and battle. Yesterday and earlier in the day, USDJPY saw trading above and below this MA before heading lower.

There should be sellers against the moving average level on a test, with stops on a break above.


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