USD/JPY BOJ Still Doing Smaller Scale Interventions

USD/JPY Technical Analysis

  • USD/JPY Bullish SHS Pattern on H1
  • Possible bounce
  • BOJ keeping 145 unscathed
  • NFP will decide about the move
  • Two sided move possible


H1 Chart USD/JPY

  1. Left shoulder 
  2. Head
  3. Right shoulder
  4. Target high
  5. Target low

The USD/JPY lost volatility that had in recent days due to smaller scale BOJ interventions. Bank Of Japan is protecting 145 level and this is the game now of cat and mouse pretty reminiscent of SNB play with EUR/CHF. At this point investors are waiting for the NFP and all accompanying data for the next move. However in case of the big bounce intervention is still possible.

145 level is protected by BOJ but we can also imagine them dropping the support for the YEN thus letting USD/JPY go higher towards 146.00. It remains to be seen. At this point selling the rallies around 145 has been a valid strategy. We might see a bounce from the bottom of the right shoulder around 144.10 level. Be careful placing longs at the recent highs, rather wait for a drop and buy the dip.

This analysis, all the patterns and all entry signals and targets are a part of the Megatrend system and a trading course. I am currently out of positions waiting for the NFP. My Telegram group recently received 1 sell USD/JPY signal as a part of the trading method. Watching the daily time frame for this setup.

Cheers and safe trading,


Summary of September trading results is HERE (click to see)

Cheers and safe trading,


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