{"id":6750,"date":"2021-04-21T07:32:00","date_gmt":"2021-04-21T06:32:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=6750"},"modified":"2021-04-21T11:48:52","modified_gmt":"2021-04-21T10:48:52","slug":"usdjpy-technical-analysis-head-and-shoulder-watch","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/usdjpy-technical-analysis-head-and-shoulder-watch\/","title":{"rendered":"USDJPY Technical Analysis &#8211; Head and shoulder watch"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6750\" class=\"elementor elementor-6750\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-92aeb00 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"92aeb00\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e1e3b71\" data-id=\"e1e3b71\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d4a3734 elementor-widget elementor-widget-text-editor\" data-id=\"d4a3734\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The US dollar is coming under increasing downside pressure on the foreign exchange market against the Japanese yen currency, following a steep drop in US stock markets ahead of US earnings season.<\/p><p>Weakness in Japanese stocks is also causing the <a href=\"http:\/\/bit.ly\/2OJjKKR\" target=\"_blank\" rel=\"noopener\">USDJPY<\/a> pair to slide, due to the news that many of Japan\u2019s largest cities have cleared a state of emergency as COVID-19 infections rise.<\/p><p>As stocks slide, traders have reverted back to old habits, as they are move back into the safety of the Japanese yen currency and <a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\" rel=\"noopener\">gold<\/a>. Yesterday, the yen currency came under pressure after the Bank of Japan suggested they may slash their 2 percent inflation target.<\/p><p>Worryingly for the USDJPY bulls the decline show few signs of shopping, as the pair looks set for a third straight week of heavy losses. The USDJPY pair has moved out of favour with traders after hitting 110.90 on March 31<sup>st<\/sup>.<\/p><p>This morning, the pair fell to its lowest trading level in over six-weeks after cracking the 108.00 level. A large head and shoulders pattern was also activated after the pair moved below the 108.35 level on Tuesday.<\/p><p>The 108.35 technical level is the key benchmark level to watch in the interim, as it marks the neckline of the mentioned bearish, which holds a downside projection of some 250 pips.<\/p><p>Sentiment amongst retail traders has seen a big shift since last week. And not in a good way. Retail traders are growing increasingly bullish while the USDJPY pair continues to tumble.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d2ae9a3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d2ae9a3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-759eb22\" data-id=\"759eb22\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f40042a elementor-widget elementor-widget-image\" data-id=\"f40042a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2OJjKKR\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"303\" height=\"106\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/USDJPY-CHART-3.png\" class=\"attachment-large size-large wp-image-6754\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3313a06 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3313a06\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a927a4a\" data-id=\"a927a4a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1ca5c90 elementor-widget elementor-widget-text-editor\" data-id=\"1ca5c90\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>According to the ActivTrader Market Sentiment tool some 65% of traders are bullish towards the USDJPY pair right. Last week only 47% of traders were bullish. Traders are typically on the wrong side of the market when market skews occur, hence the move lower may continue.<\/p><p><strong>USDJPY Short-Term Technical Analysis<\/strong><\/p><p>Technical analysis on the four-hour time frame shows that the USDJPY pair has ignited a large head and shoulders pattern, after the price dropped under the 108.35 support level yesterday.<\/p><p>Overall, the bearish pattern holds a downside target of 250 points, which could send the pair back towards the 106.00 handle. Watch out for further weakness while the price trades under the 108.35 level.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e108260 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e108260\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9e1e811\" data-id=\"9e1e811\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-70a0381 elementor-widget elementor-widget-image\" data-id=\"70a0381\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2OJjKKR\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"345\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/usdjpy-4h-2.png\" class=\"attachment-large size-large wp-image-6755\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6dd7f6f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6dd7f6f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d99cc65\" data-id=\"d99cc65\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-16b02f4 elementor-widget elementor-widget-text-editor\" data-id=\"16b02f4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2OJjKKR\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7461db5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7461db5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-df55daa\" data-id=\"df55daa\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-945e5e7 elementor-widget elementor-widget-text-editor\" data-id=\"945e5e7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>USDJPY Medium-Term Technical Analysis<\/strong><\/p><p>The daily time frame shows two key technical features that are of significant importance right now. Firstly, the USDJPY pair has broken below its 50-day EMA, around 108.20, meaning that the medium-term trend is weakening.<\/p><p>This could mean that the USDJPY pair could fall towards its 200-day moving average, around 106.60, if weakness continues below the 50-day EMA.<\/p><p>Something else to note is that the USDJPY pair has negative MACD price divergence, towards the 106.00 area, meaning that this divergence may soon be reversed.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e2c36c4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e2c36c4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-440b8a3\" data-id=\"440b8a3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-327b712 elementor-widget elementor-widget-image\" data-id=\"327b712\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2OJjKKR\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"341\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/USDJPY-1D-2.png\" class=\"attachment-large size-large wp-image-6756\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-566a25f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"566a25f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-529ac87\" data-id=\"529ac87\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0aeda41 elementor-widget elementor-widget-text-editor\" data-id=\"0aeda41\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2OJjKKR\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The US dollar is coming under increasing downside pressure on the foreign exchange market against the Japanese yen currency, following a steep drop in US stock markets ahead of US earnings season. Weakness in Japanese stocks is also causing the USDJPY pair to slide, due to the news that many of Japan\u2019s largest cities have [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":6751,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[80,45,22],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>USDJPY Technical Analysis - Head and shoulder watch - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/usdjpy-technical-analysis-head-and-shoulder-watch\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USDJPY Technical Analysis - Head and shoulder watch\" \/>\n<meta property=\"og:description\" content=\"The US dollar is coming under increasing downside pressure on the foreign exchange market against the Japanese yen currency, following a steep drop in US stock markets ahead of US earnings season. Weakness in Japanese stocks is also causing the USDJPY pair to slide, due to the news that many of Japan\u2019s largest cities have [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/usdjpy-technical-analysis-head-and-shoulder-watch\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-21T06:32:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-21T10:48:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/shutterstock_202526317.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"267\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/usdjpy-technical-analysis-head-and-shoulder-watch\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/usdjpy-technical-analysis-head-and-shoulder-watch\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"USDJPY Technical Analysis &#8211; 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