USD/JPY analysis

dianajs

Established member
533 8
The pair is at 111.70, for the moment it remains very bearish. I think it will break out below that level soon and keep falling to 111.00 or even to 110.40.
 

Jenny FX

Member
92 0
The US dollar recorded a decline against the Japanese yen on Friday. The currency pair opened at 112.27 and the dollar lost 40 pips. Graphics continued to grow below moving averages, while the relative strength index remained neutral. If the bearish mood continues, we can expect a first support test at 110.90.
 

LionelID

Active member
107 0
The dollar / yen had a bearish momentum last week, reaching a bottom of 111.68 after a fake breakthrough over key resistance 113.20 and the emergence of a bearish pin bar. The views are down to testing 111.65. Clear break below this level will open doors to support 111.00 - 110.65. Intraday resistance is at 112.35. A clear breakthrough over it could take the price to a neutral zone, but only a clear break above 113.20 will halt the current short-term downside outlook.
 

dianajs

Established member
533 8
111.70 proved to be a very strong support and USD/JPY rebounded from it. The pair remains bullish for the moment and I think it will reach 113.00 soon.
 

LionelID

Active member
107 0
The US dollar recorded a rise against the Japanese yen on Wednesday. The session started at 112.19 and ended at 112.92. After a steady upward movement, the price managed to break the first resistance at 112.90. If the direction of motion continues upward, perhaps there will be an attempt to break the first resistance at 114.30.
 

fxstrategist

Established member
579 15
Usdjpy

The USDJPY falls back from the 113.00 level as the Yen rises on risk aversion. The pair has not been able to break above the 113.00 level, but it keeps hammering that level. The 112.00 level may act again as support, keeping the USDJPY boxed between those two levels.
 

csc2009

Established member
633 17
Usd/Jpy started the week with a big gap up, but the pair couldn't hold above 114.00 level possibly due to increased demand for Yen.
 

dianajs

Established member
533 8
Usd/Jpy started the week with a big gap up, but the pair couldn't hold above 114.00 level possibly due to increased demand for Yen.
USD/JPY is range-bound above the gap. Even if it recovers it I think it will keep moving up.
 

dianajs

Established member
533 8
USD/JPY did recover the gap and then rallied again as I thought it might. Since it has broken out above 113.78 I think it may continue rallying to 114.50.
 

LionelID

Active member
107 0
The dollar fell against the yen. The USD/JPY fell by 0.08% to 113.65 after the maximum of 114.24 in three weeks, which was fixed on Wednesday. In recent sessions, the dollar received support amid forecasts of tax reform in the US, strengthened after the Senate approved changes in the budget that would allow Republicans to adopt a tax reduction program without the support of the Democratic Party.
 

dianajs

Established member
533 8
There is a pullback from 114.45 as I thought it might be. I think the correction to the downside will last at least until it reaches 113.40.
 

csc2009

Established member
633 17
There is a pullback from 114.45 as I thought it might be. I think the correction to the downside will last at least until it reaches 113.40.
I agree, the correction movement seems continue, and upside limited to 114.45.