GFSignals team - a week forecast for USD/JPY

[GFSignals]

Weekly forecast for USD/JPY

August 06, 2007 – August 10, 2007

View on USD/JPY: support formalization.

GFSignals team provides a week forecast for USD/JPY

+4388 pips - this is the trading result our forex signals providers made for the last week.
More details at our web-site.

Last week our second script was fulfilled (50%): Correction fluctuations in the range of 118.00-119.80. The pair consolidated in the area achieved near the important support at 118.00. We watch slowdown of the decline and forming of the support and resistance levels. So, at 118.00 level there is an important local support May 2006 trend line projection. And now it is a good technical possibility for an upward rebound and further to the March trend line breakout region at 122.00 level. Though the pair will have to consolidate above 119.50/80 area first, where downward short term trend line projection lies. In case the May trend is broken down the pair will decline further hitting two-year trend from January 2005 at 116.20.

Script 1 (40%): Correction fluctuations in the range of 118.00-119.80.
The pair fluctuations reached a strong support at the 118.00 level area. That is why the correction may hold and side range may stay the same. In case the range margins are broken out the following two scripts will develop.

Script 2 (30%): A further decline to the 116-shape region.
It is quite possible a further course decline and hitting the 116-shape area where 2-year trend lies from 2005 year. A breakout of the May uptrend line and horizontal support at 118.00 will be a signal to this decline.

Script 3 (30%): A rising up to the 122.00 level.
It must not be ruled out a higher upside movement (the upward medium term trend line). The pair may correct to the 121.00-122.00 area, where the strong support broken at the end of July lies and March trend line breakout area as well. But after that a further decline to the support achieved at 118.00 is very possible.

Resistances
119.40/80 - the correction downward trend and the nearest resistance.
122.00 - March's trend breakout area level.
123.40 - the broken out March's trend - key resistance projection.
124.15 - June's high - longstanding and 2007 high.

Supports
118.00 - the uptrend from May's 2006 low.
116.20 - the uptrend expected support line from January's 2005 low.
115.10 - March's 2007 low - the year support.
113.40 - the intermediate 2006 support.

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[GFSignals]

Intra-day USD/JPY outlook

Intra-day USD/JPY outlook, August 14, 2007
From GFSignals team

+ 2526 pips - this is the trades result for the last week of our forex traders' signals.
More details at our web-site.

Current price: 118.10
USD/JPY is still trading in the 117.20 - 119.80 range.
The downward trend target for the next week remains at 116.60 where two-year trend line from 2005 year lies (30%). The first support comes around 117.60 and then at 117.20 (double bottom). A break out below 117.20 will cause a further decline towards 116.60 over the next trading days.
On the upside the target is at 121.00-122.00 area (60%). But there is strong resistance in the 118.70-80 region. A break beyond 118.80 is needed. But after that rise there is a prospect of a rebound back to 118.00.

Resistances
119.80 - the correction downward trend and the nearest resistance.
122.00 - March's trend breakout area level.
123.40 - the broken out March's trend - key resistance projection.
124.15 - June's high - longstanding and 2007 high.

Supports
118.50 - the uptrend from May's 2006 low.
117.20 - August low.
116.20 - the uptrend expected support line from January's 2005 low.
115.10 - March's 2007 low - the year support.

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[GFSignals]

Weekly forecast for USD/JPY

September 03, 2007 - September 07, 2007

View on USD/JPY: slackness for a while.

GFSignals team provides a week forecast for USD/JPY

+2666 pips - this is the trading result our forex signals providers made for the last week. More details at our web-site.

The fluctuations range is getting narrow. The course has not changed too much for the last week trading in the range between 114.00 and 117.00. Technically it is a testing of the supports levels broken earlier and the uptrend line from January 2005. A picture is still correcting and both up and down trends are possible.

Last week our first script was fulfilled (30%): Correction fluctuations in the range of 114.00-117.50.The pair did not reach the broken out July's support level at 117.00/50 and retraced to 113.90 the last week's low. The broken out January's 2005 uptrend line projection at 116.50 also exerts certain pressure, now as a resistance.

Now the pair may easily achieve higher levels because the current 500-pip correction does not reach even 50% of the whole decline from 124.10 to 111.60. For example the local August's supports/resistances at 118.50 and 119.90 may be reached, so as the broken out May's 2006 uptrend line projection in the same region.

Though keep in mind that the 2005-2006 rising trends are broken below for now, and the pair is keep on trading below them, what tells about a high possibility of the further decline towards May's 2006 low region at 109.00. A break below the 111.60/114.00 is needed for this decline.

Script 1 (30%): Correction fluctuations in the range of 114.00-117.00/50.
The pair has consolidated at the levels achieved for now and may stay there for more than a week. Though, the range of the fluctuations may gain in breadth till 111.60/112.00 below and till 118.50/119.00 above.

Script 2 (40%): A decline towards 111.60 level.
It is quite possible a course decline again hitting the August's low at 111.60. But after that a rebound and rising up towards 117.00 is possible again. Though it is very possible a further decline towards the 109-shape area where May's 2006 low is. A break below 111.60 is needed for such decline.

Script 3 (30%): A recovery up to the 119-shape area.
It must not be ruled out a higher upside correction movement hitting the broken out the August's high at 119.90. But after any of such correction rising there is a high possibility for the next decline towards the support achieved at 111.60 and even further.

Resistances
116.50 - the line trend projection from January 2005.
117.00/50 - the broken out July's and August local supports.
118.50 - the broken out May's trend from 2006.
119.90 - August's high.

Supports
114.10 - the lowest day close level in August.
111.60 - the local low and 2007 low.
109.00 - May's 2006 low.
101.70 - the longstanding lows in 2004-2005.

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[GFSignals]

Weekly forecast for USD/JPY

September 10, 2007 - September 14, 2007

View on USD/JPY: Payrolls hurt the dollar.

GFSignals team provides a week forecast for USD/JPY

+2556 pips - this is the trading result our forex signals providers made for the last week. More details at our web-site.

The disastrous US payrolls report on Friday last week hit the USD/JPY in quite an aggressive way. During the morning session in Europe, USD/JPY drifted sideways in the 115.00- area. And then the pair tumbled from above a 115 level before the publication of the payrolls to the 113.15-area later in US trading. 200 pips decline for the day in the whole. This morning at the open in Asia, the USD/JPY decline first continued, but the pair finally found some support in the 112.60-area. The picture is still correcting. Though, after Friday's US data we don't see any reason the yen to change the course. Now the pair may easily achieve and even get over the resistance at 111.60. We still look to sell USD/JPY.

Last week two of our scripts were partly fulfilled: (30%): Correcting fluctuations in the range of 114.00-117.50 and (40%): A decline towards 111.60 level and we expect the further development for the second script. The pair fell almost 300 pips down last week reaching the 113-shape region. The side fluctuations range at 114.00-117.00 was broken down and now the August intra-day lows at111.60 area come back in the picture. Additional floor is eyed at May's 2006 low region at 109.00. But a break below the 111.60 support is needed for this decline.

Script 1 (70%): A decline towards 111.60 level.
It is quite possible a course decline again hitting the August's low at 111.60. But after that a rebound and rising up back to 117.00 is possible again. Though it is very possible a further decline.

Script 2 (10%): A further decline towards 109.00 level.
It is quite possible a further course decline hitting the 109-shape area where May's 2006 low is. This script will be expected after the 111.60 level breakout.

Script 3 (20%): A recovery up to 117.00-118.00.
It must not be ruled out the next rise hitting the highs at 117.00-118.00. But after any of such correction rising there is a high possibility for the next decline towards the support achieved at 111.60.

Resistances
117.00/20 - the line trend projection from January 2005.
118.50 - the broken out May's trend from 2006.
119.90 - August's high.
124.10 - the year and longstanding highs.

Supports
113.10 - the last week low.
111.60 - the local low and 2007 low.
109.00 - May's 2006 low.
101.70 - the longstanding lows in 2004-2005.

 

[GFSignals]

Weekly forecast for USD/JPY

September 17, 2007 - September 21, 2007

View on USD/JPY: either up or down.

GFSignals team provides a week forecast for USD/JPY

+ 3854 pips - this is the trading result our forex signals providers made for the last week. More details at our web-site.

Last week the pair totally recovered after Friday the 7th fall. No one of our scripts was fulfilled exactly, though the third one (20%): A recovery up to 117.00-118.00 started to run. In the whole more than 200 pips rise for the week. Now we see a triangle on the chart with upper limit at the 116.00 level area (immediate gain).

Script 1 (60%): Correction fluctuations within the 113.00-116.00 triangle.
Next week correction fluctuations within the 113.00-11.600 triangle are expected. But if the triangle margins are broken out two others scripts will be executed, though a movement to higher/lower levels must not be ruled out.

Script 2 (20%): A decline towards 111.60 level.
This script is possible after the breakout of the bottom triangle line at 113.00. It is quite possible a deeper decline.

Script 3 (20%): A rising up to 117.00-118.00 area.
This script is possible after the breakout of the upper triangle line at 116.00. It must not be ruled out the further rise shortly hitting higher levels.

Resistances
116.00 - the upper triangle line.
116.50/117.20 - the local August/September resistance.
119.90 - August high.
124.10 - the year and longstanding highs.

Supports
113.00 - the lower triangle line.
112.60 - September low.
111.60 - August low (2007 low).
109.00 - May 2006 low.

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[GFSignals]

Weekly forecast for USD/JPY

October 22, 2007 - October 26, 2007

View on USD/JPY: all the plans fall to the ground.

GFSignals team provides a week forecast for USD/JPY

+ 6567 pips - this is the trading result our forex signals providers made for the last week. More details at our web-site: GFSignals.

Last week the pair slumped to 114.50 broking out the support line at 116.00. And now we expect a further fall down to the August low at 111.60 and probably lower to the 110.00-shape area. Though, broking out the local September’s minimum at 112.50 is necessary for that.

Script 1 (50%): A decline towards 112.00-113.00 area (the target is 111.60).
This script is possible after the breakout of the bottom triangle line at 114.50. And it is quite possible a deeper decline.

Script 2 (30%): Correction fluctuations within the 114.00-116.00 triangle.
It is very possible to expect correction fluctuations within the 114.00-116.00 triangle this week. In this case triangle lines may act both as supports and resistances.

Script 3 (20%): A rising up to 117.00-119.00 area.
This script is possible after the next rising upper the triangle lines. In this case we expect the movement towards the area at 118.00 level (October high). Then the further rise as well as a new rebound down are both possible.

Resistances
115.50 - the upper triangle line.
116.00 - this week local support.
117.90 - October high.
119.90 - August high.

Supports
114.50 - the lower triangle line.
114.00 - September local support.
112.60 - September low.
111.60 - August (year) low.

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[GFSignals]

Weekly forecast for USD/JPY

October 29, 2007 - November 02, 2007

View on USD/JPY: consolidation.

GFSignals team provides a week forecast for USD/JPY

+ 419 pips - this is the trading result our forex signals providers made for the last week. More details at our web-site.

The pair shows some consolidation at the 114-shape area. After touching 113.20 level on Monday USD/JPY currency pair recovered a little until the broken out September triangle – a little bit lower than the 115-shape. And now the pair is ready again for the next decline which may lead towards the August low at 111.60.

Last week our second script was fulfilled (30%): Correction fluctuations in the range of 114.00-116.00, though there was a short term break-out down from the range on Monday. But then the course recovered rapidly and was almost back to the 115-shape again. Thus the pair has classically tested the bottom triangle lines from below and now is ready for the next decline. So in the very close future we expect a downward trend towards the August low at 111.60 and probably lower to the 110-shape area. But first a breakout of the local September-October lows at 112.50-113.20 is necessary for that.

Script 1 (40%): A decline towards 111.50-112.50 area (the target is 110.00).
This script is possible after a breakout of the local September-October lows at 112.50-113.20. And it is quite possible a deeper decline.

Script 2 (30%): Correction fluctuations within the 113.20-115.00 range.
It is also very possible to expect correction fluctuations within the 113.20-115.00 range this week. This script development is possible just like the next course rising.

Script 3 (30%): A rising up to 117.00-119.00 area.
If the pair does not go down we will expect it up. After the next rising upper the triangle lines we expect a movement towards the 118.00 area (October high). Then further rise as well as a new rebound down are both possible.

Resistances
115.00 - the triangle lines.
117.90 - October high.
119.90 - August high.
124.10 - June year 2007 high.

Supports
113.20 - October local support.
112.60 - September low.
111.60 - August year 2007 low.
109.00 - May year 2006 low.

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