JPY opens the week with an upward trend due to many supporting

19 May

🔔🔔🔔USD/JPY news:

➡️ The USD/JPY pair started the new week with a slight decline as weakening global risk sentiment overshadowed optimism surrounding U.S.-China trade, boosting demand for the safe-haven Japanese Yen. At the same time, the U.S. Dollar came under pressure following a downgrade of the U.S. sovereign credit rating due to mounting national debt.

➡️ Meanwhile, investors appear to believe that the Federal Reserve may proceed with further interest rate cuts, given signs of easing inflation and expectations of sluggish U.S. economic growth over the coming quarters. This outlook contributes to the Dollar's weakness early in the week, adding downward pressure on the USD/JPY pair. However, the pair's inability to break decisively below the key psychological support at 145.00 suggests caution among sellers before positioning for deeper losses.

➡️ Additionally, growing confidence that the Bank of Japan (BoJ) may raise interest rates again in 2025 remains a key factor lending support to the Japanese Yen.

Personal Opinion:

➡️JPY is currently performing better than USD, so USD/JPY's short-term downtrend will take place today.

➡️ Analysis based on important support resistance levels and Fibonacci combined with SMA to come up with a suitable strategy

Personal Plan:
🔆Price Zone Setup:

👉Sell USD/JPY 145.65 - 145.75
❌SL: 146.20 | ✅TP: 145.05

FM wishes you a successful trading day 💰💰💰

20 May

İşlem aktif

Price touched 145.52 and dropped to 144.75
could not match the sell zone of 145.65
What a pity
Anyway, the plan is still on track

21 May

İşlem kapandı: hedefe ulaştı

Update Personal plan

Buy USD/JPY 143.50 - 143.60
SL: 143.10 | TP: 144.00 – 144.50