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USD/JPY
Oct 28, 2015 at 13:48
Member Since Dec 31, 2014
94 posts
The USDJPY had a bearish momentum yesterday bottomed at 120.15. The bias remains bearish in nearest term testing 119.50 as a part of the false breakout (above 121.30)bearish scenario. Immediate resistance is seen around 120.55. A clear break above that area could lead price to neutral zone in nearest term retesting 121.30 key resistance which remains a good place to sell with a tight stop loss. Fundamental focus will be on the FOMC statement which expected to be a market catalyst
Top Forex Robot
Oct 29, 2015 at 07:11
Member Since Dec 31, 2014
94 posts
The USDJPY failed to continue its bearish momentum yesterday topped at 121.24 but traded lower earlier today hit 120.57. The bias is bullish in nearest term testing 121.30 key resistance which remains a good place to sell with a tight stop loss. Immediate support is seen around 120.50. A clear break below that area could lead price to neutral zone in nearest term testing 120.00 area. My major technical outlook remains neutral as price is still trapped inside the range area of 121.30 – 118.50 .
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Member Since Oct 11, 2013
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Nov 03, 2015 at 07:20
Member Since Dec 31, 2014
94 posts
The USDJPY had a moderate bullish momentum yesterday and hit 120.83 earlier today. The bias is neutral in nearest term. Immediate support is seen around 120.00. A clear break below that area could trigger further bearish pressure testing 119.50 region. Key resistance remains around 121.30/48 which remains a good place to sell with a tight stop loss.
Top Forex Robot
Nov 06, 2015 at 09:27
Member Since Dec 31, 2014
94 posts
06th November 2015
USD/JPY - ......... The greenback rose from Asian low at 121.39 to intra-day high at 122.01 at New York open, however, price pared its gains and retreated to 121.52 at New York midday, weighed down by the release of mildly downbeat U.S. jobless claims. Later, dlr staged a rebound to 121.80 in New York afternoon before retreating again and remaining under pressure at Tokyo open.
Market focus is now solely on the release of U.S. jobs report. Street forecast of non-farm payroll is for an increase to 180K from previous reading of 142K whilst unemployment rate is expected to remain unchanged at 5.1%. An upbeat employment report would further boost the case of a December rate hike n send the dlr higher.
Bids are now seen at 121.40/50 and more below at 121.10/20 with stops building up below there whilst initial offers are noted at 122.10/20, suggesting choppy trading would be seen ahead of the jobs report release.
USD/JPY - ......... The greenback rose from Asian low at 121.39 to intra-day high at 122.01 at New York open, however, price pared its gains and retreated to 121.52 at New York midday, weighed down by the release of mildly downbeat U.S. jobless claims. Later, dlr staged a rebound to 121.80 in New York afternoon before retreating again and remaining under pressure at Tokyo open.
Market focus is now solely on the release of U.S. jobs report. Street forecast of non-farm payroll is for an increase to 180K from previous reading of 142K whilst unemployment rate is expected to remain unchanged at 5.1%. An upbeat employment report would further boost the case of a December rate hike n send the dlr higher.
Bids are now seen at 121.40/50 and more below at 121.10/20 with stops building up below there whilst initial offers are noted at 122.10/20, suggesting choppy trading would be seen ahead of the jobs report release.
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Member Since Oct 02, 2014
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Member Since Oct 11, 2013
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Member Since Oct 11, 2013
775 posts
Member Since Oct 02, 2014
909 posts
Nov 18, 2015 at 12:37
Member Since Dec 31, 2014
94 posts
USD/JPY Takes Another Shot At Overcoming 11-Week High
'Long dollar positions still look attractive for the remainder of 2015 in terms of risk/reward as the BoJ provides downside protection while the Fed's potential liftoff provides the dollar's upside.' - BAML (based on FXStreet)
Pair's Outlook
Although the Greenback appreciated against the Japanese Yen on Tuesday, a new 13-week high was not reached. The pair also failed at breaching the immediate resistance cluster, which could turn the tide today, leading the USD/JPY down to the weekly PP at 122.87. In case the weekly PP fails to hold the losses, a fall towards the cluster around the up-trend is expected. Nevertheless, the US currency has the potential to reach the second resistance just above the 124.00 level, namely the weekly R2 and the Bollinger band. Technical studies are bolstering the possibility of a surge with bullish signals.
Traders' Sentiment
Once again there are exactly three quarters of traders being short the Buck, while the share of sell orders increased from 51 to 53%.
'Long dollar positions still look attractive for the remainder of 2015 in terms of risk/reward as the BoJ provides downside protection while the Fed's potential liftoff provides the dollar's upside.' - BAML (based on FXStreet)
Pair's Outlook
Although the Greenback appreciated against the Japanese Yen on Tuesday, a new 13-week high was not reached. The pair also failed at breaching the immediate resistance cluster, which could turn the tide today, leading the USD/JPY down to the weekly PP at 122.87. In case the weekly PP fails to hold the losses, a fall towards the cluster around the up-trend is expected. Nevertheless, the US currency has the potential to reach the second resistance just above the 124.00 level, namely the weekly R2 and the Bollinger band. Technical studies are bolstering the possibility of a surge with bullish signals.
Traders' Sentiment
Once again there are exactly three quarters of traders being short the Buck, while the share of sell orders increased from 51 to 53%.
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forex_trader_29148
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Member Since Oct 11, 2013
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Nov 21, 2015 at 15:03
Member Since Jul 10, 2014
1117 posts
I agree, it will probably return to the resistance at 123.70.
Nov 23, 2015 at 07:47
Member Since Dec 31, 2014
94 posts
The USDJPY was indecisive last week. As you can see on my H4 chart below price is trapped between 123.60 – 122.50. We need a clear break from that range area to see clearer direction. A clear break and daily close above 123.60 could trigger further bullish pressure testing 124.00/50 region. On the other hand, a clear break and daily close below 122.50 could trigger further bearish pressure testing 121.50. mail me to shailesh_goswami(at)yahoo(dot)com
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Nov 30, 2015 at 08:08
Member Since Dec 31, 2014
94 posts
The USDJPY was indecisive last week formed a Doji on weekly chart. As you can see on my H4 chart below price is still moving inside a range area between 123.60 – 122.20. The bias is neutral in nearest term. I prefer a bearish scenario at this phase but need a clear break below 122.20 to confirm the bearish scenario testing 121.50 or lower. On the upside, 123.60 remains a key resistance. A clear break above that area could trigger further bullish pressure testing 124.00/50 region.
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Dec 07, 2015 at 08:03
Member Since Dec 31, 2014
94 posts
The USDJPY had another indecisive movement last week. As you can see on my H4 chart below price is still trapped between 123.60 – 122.20 range area. Overall I prefer a bearish scenario at this phase but need a clear break below 122.20 to confirm the bearish scenario. On the upside, key resistance remains around 123.60 which is a good place to sell with a tight stop loss as a clear break and daily close above that area could trigger further bullish pressure testing 124.50 area or higher.
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