How To Make Money Today: Daily Market Analysis and Forex Trading Signals 1 April 2022

To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis and the trading strategy to use today. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…

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USD/JPY:

On the weekly, prices have approached an all time high. We see the potential for a dip from our 1st resistance at 125.271 in line with 200% Fibonacci Projection towards our 1st support at 118.894 in line with 23.6% Fibonacci retracement. RSI is at levels where dips previously occurred. On the daily, prices are on strong bullish momentum. We see the potential for a bounce from our 1st support at 121.320 in line with 38.2% Fibonacci retracement towards our 1st resistance at 124.312 which is a swing high. On the H4 timeframe, prices have approached a strong resistance. We see the potential for a dip from our 1st resistance at 122.411 in line with 23.6% Fibonacci retracement towards our 1st support at 121.277 in line with 100% Fibonacci Projection. Prices are testing the ichimoku clouds, supporting our bearish bias.

Areas of consideration:

  • H4 time frame, 1st resistance at 122.411
  • H4 time frame, 1st support at 121.277 
usdjpy signals

On a stronger DXY and the BOJ’s statements on increasing commodity prices, the USD/JPY rises to 122.60.

After a pullback at 121.30, the USD/JPY pair is substantially higher as the Bank of Japan (BOJ) expresses concern over increasing commodities prices. The Japanese yen has been battered by rising costs for basic metals, food, and energy as a result of Russia’s invasion of Ukraine. Japan, as a big commodity importer, is facing a severe danger of expanding its budget imbalance.

After the US macro data, the USD/JPY pair sawsawed between mild gains and small losses in the early North American session, holding firm around the 121.80-121.85 zone.

On a stronger DXY and the BOJ’s statements on increasing commodity prices, the USD/JPY rises to 122.60.

  • Ahead of the US Nonfarm Payrolls, the USD/JPY has garnered bids at 122.60.
  • The DXY is gaining as the chances of a Fed rate rise of 50 basis points increase.
  • Officials from the Bank of Japan are wary about increasing commodity prices.

After a pullback at 121.30, the USD/JPY pair is substantially higher as the Bank of Japan (BOJ) expresses concern over increasing commodities prices. The Japanese yen has been battered by rising costs for basic metals, food, and energy as a result of Russia’s invasion of Ukraine. Japan, as a big commodity importer, is facing a severe danger of expanding its budget imbalance.

In recent trading sessions, the effect of increased commodity prices has been reflected in the yen. In March, the asset increased by over 8%. Mitsuhiro Furusawa, the head of currency intervention at Japan’s Ministry of Finance, expressed concern over the weakening yen, stating that the yen should not continue to fall since it represents Japan’s competitiveness.

In addition, the yen’s bids have diminished since the end of the bond-buying program. On Thursday, the aggressive purchase of Japanese Government Bonds (JGBs) to keep rates below 25 basis points came to an end.

Meanwhile, the US dollar index (DXY) has risen at 98.50, owing to growing possibilities of a Federal Reserve interest rate hike of 50 basis points (bps) (Fed). According to CME Group’s FedWatch tool, the chances of a half-point rate hike are 71 percent. Furthermore, the uncertainty surrounding the announcement of US Nonfarm Payrolls on Friday is boosting demand for the dollar.

USD/JPY

OVERVIEW
Today last price122.62
Today Daily Change0.92
Today Daily Change %0.76
Today daily open121.7
TRENDS
Daily SMA20119.2
Daily SMA50116.72
Daily SMA100115.52
Daily SMA200113.3
LEVELS
Previous Daily High122.46
Previous Daily Low121.28
Previous Weekly High122.44
Previous Weekly Low119.1
Previous Monthly High125.1
Previous Monthly Low114.65
Daily Fibonacci 38.2%121.73
Daily Fibonacci 61.8%122.01
Daily Pivot Point S1121.17
Daily Pivot Point S2120.64
Daily Pivot Point S3120
Daily Pivot Point R1122.35
Daily Pivot Point R2122.99
Daily Pivot Point R3123.52

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