USDJPY_109 2024.10.30 17:50:03 Trading Signal BUY

31 окт.

FrankPro Signal for USDJPY_109

Type: Screen
Signal: BUY
TP: 153.98
SL: 153.112
Entry Price: 153.236

Analysis for USDJPY

Forecast Overall(Short-Term, Long-Term): ST=Strong Down LT=Strong Up

Forecast Methods(Short-Term, Long-Term):
[Method0] ST=Down LT=Up
[Method1] ST=Down LT=Up
[Method2] ST=Down LT=Up


Analysis Method(0)

Based on the provided analysis, here is my assessment of the USD/JPY pair's expected price movement:

**Short-term (next few days):**

* The pair is expected to face selling pressure near 150.00, and a break below 150.05 could indicate a continued decline to below 147.25.
* The mean reversion rebound may have reached an overstretched condition, suggesting a potential pause in the upside momentum.
* The daily RSI has flashed a bearish condition, indicating a potential pause in the upside momentum.
* FX option expiries at 151.00, 152.00, and 152.50 could influence price movements around these levels.

**Expected short-term price movement:** Down

**Long-term (next few weeks/months):**

* The technical overview and forecast suggest that the pair is expected to test the support area near 151.65 before potentially rebounding and continuing its growth to the area above 159.05.
* The Elliott Wave analysis suggests that the main scenario indicates a potential drop to levels between 138.08 and 131.25 if the price holds below 151.54, but an alternative scenario indicates a potential rise to levels between 153.88 and 156.74.
* The moving averages suggest a short-term bullish trend, but a bearish correction is anticipated before further growth.

**Expected long-term price movement:** Up, but with a potential bearish correction before further growth.

Please note that these assessments are based on the provided analysis and are subject to change as new data and events emerge.

Result: [Method0] ST=Down LT=Up


Analysis Method(1)

Based on the provided analysis, here is my assessment of the expected price movement for the USD/JPY pair:

**Short-term (next few days):**

* The pair is facing selling pressure near the 150.00 level, and technical analysis suggests a potential drop to 138.08-131.25 if the price holds below 151.54.
* However, the forecast for October 30, 2024, indicates an attempt to test the support area near 151.65, followed by an upward price rebound.
* Given the conflicting signals, I would say that the short-term price movement is uncertain, but slightly leaning towards a **downward** movement, with a potential target of 147.25 if the pair breaks through 150.05.

**Long-term (next few weeks/months):**

* The US Dollar's outlook remains firm due to expectations of moderate interest rate cuts by the Federal Reserve, which could support the USD/JPY pair.
* Japan's National core CPI acceleration could lead to interest rate hikes by the Bank of Japan, which could weaken the JPY and support the USD/JPY pair.
* Technical analysis suggests a potential rise to 153.88-156.74 if the price breaks above 151.54, and a clearance above 149.30 could extend the mean reversion rebound to 151.95.
* Based on these factors, I would say that the long-term price movement is expected to be **upward**, with a potential target of 159.05 or higher.

Please note that these assessments are based on the provided analysis and are subject to change as new information becomes available.

Result: [Method1] ST=Down LT=Up


Analysis Method(2)

Based on the provided analysis, here is my assessment of the expected price movement for the USD/JPY pair:

**Short-term (next few days):**

* The pair is expected to test the support area near 151.65, which suggests a potential short-term decline.
* However, the forecast also mentions a potential rebound upwards to continue growth above 159.05, indicating a possible short-term bounce.
* Overall, the short-term outlook is neutral to slightly bearish, with a possible range-bound movement between 151.65 and 159.05.

**Long-term (next few weeks/months):**

* The technical analysis suggests that the pair is moving within a bullish channel, indicating a long-term uptrend.
* The forecast mentions a potential growth above 159.05, which supports the long-term bullish outlook.
* The fundamental factors, such as the potential interest rate hike by the Bank of Japan and the US Federal Reserve's interest rate cuts, also support the long-term strength of the US Dollar.
* Overall, the long-term outlook is bullish, with a potential target above 159.05.

In summary, the USD/JPY pair is expected to experience a short-term decline or range-bound movement, but the long-term outlook remains bullish, with a potential target above 159.05.

Result: [Method2] ST=Down LT=Up