USD/JPY erased positions yesterday, which devalued the dollar by 29 pips to 117.54. Trading took place within the extreme values at 118.06 and 117.10. The price continues to consolidate above the low averages and RSI retreated moderately. The current range implies a likely bullish continuation, but a breakthrough of 116.15 will contribute to negative attitudes.
The US dollar was down against the Japanese Yen on Friday. By the end of the American session USD/JPY is trading at 117.34, shedding 0.18%. I believe that the support is now located at around 116.52, Monday's low, and resistance is likely at the level of 118.28 - the maximum of Tuesday.
Dec 24 2016 at 13:01
Expecting a move down.
Positivity
USD/JPY is heading down fast to a major support level at 117.10 breaking the short term supports at 117.46 and 117.59. MACD is close to its zero line and we see strong bearish momentum. Crossing 117.10 level will put the pair into strong support range with a bottom at 116.53.
Need for speed!
Dec 25 2016 at 17:11
Dollar demand eases at this year end. After 118.66 USD/JPY was attempting some of upside swings and none of them of valid enough nor convincing yet which indicates the retreating of its previous upside momentum. It could head up if support at 107.07 , 107.10 & 107. 14 holding . Beyond this support is 116.50 .
For trend resumption it must exceed 118.66 and further correction below if lower than 116.50.
For trend resumption it must exceed 118.66 and further correction below if lower than 116.50.
The pair is consolidating above 117.00 and I think it will continue trading flat until the end of the year.
USD/JPY moved to the downside after a false breakout above the triangle pattern that was forming on the 4H time frame. I think next target is 116.00.
Key levels to watch for:
Support: 115.85; 114.89;
Resistance: 117.86; 118.66.
Support: 115.85; 114.89;
Resistance: 117.86; 118.66.
USD/JPY - buy at 116.41
• Stop: 115.85
• Limit: 118.25
• Time frame: 7 days
• Stop: 115.85
• Limit: 118.25
• Time frame: 7 days
Dec 31 2016 at 16:27
Bearish for the week.
Positivity
With downside limited above 116.00 level and lack of fundamental news, the pair would probably keep ranging, immediate resistance level can be found around 117.20 zone.
Dollar drops in the end of New Year in a weakened trade.
Against the yen, the dollar fell about 0.7% to 116.41, retreating from the 10.5-month high of 118.65 reached last week.
Against the yen, the dollar fell about 0.7% to 116.41, retreating from the 10.5-month high of 118.65 reached last week.
Jan 03 2017 at 07:43
Its dropping down now the trend is down not a real good idea to range trade at the moment
"If you are makeing less than 500% a month you aren't doing it right!"
I have a long on this pair. It broke above 117.80 and I think next target will be the previous high at 118.66.
Jan 04 2017 at 01:08
On the daily chart of the USDJPY there seems to have formed a double top formation on the 118.64 zone. But a breakout of that level could take the pair to the 119.00 level.
Jan 04 2017 at 08:17
I think it may go back to 118.660 again
"If you are makeing less than 500% a month you aren't doing it right!"
It's clerly bullish. I'd liketo enter around 115. Any fundamental arguments why USD/JPY on 100 resistane which of course holds, wasn't falling?
I've just checked monhly trendlne - thats key! Anyway, don't forget hghest timeframes..
I've just checked monhly trendlne - thats key! Anyway, don't forget hghest timeframes..
The dollar recorded another volatile session against the yen on Wednesday. Ultimately the trading ended in favor of Asian currency. If the bear trend continued to dominate the pair will break through support at 116.50 soon. The session on Wednesday launched the price at 117.73, and the finish line was crossed at a rate of 117.22. The difference between the highest and lowest value for the day was 113 pips.
Key levels to watch for:
Support: 115.67;
Resistance: 118.60.
Support: 115.67;
Resistance: 118.60.
