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.
Oct 19 2017 at 17:04
Good drop on the USDJPY as the Yen gains ground versus its main counter parts. The USDJPY is still consolidating between the 113.00 level and the 112.00 level, there is no clear trend until it confirms a real breakout of any of those two levels.
Oct 19 2017 at 17:27
Trading to the downside this week. Tomorrow will be interesting to see what the news say.
Positivity
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.
csc2009 posted:
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.
Oct 24 2017 at 13:25
I think to go short this week. Somewhere around 115.
Positivity
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.
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.
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.
dianajs posted:
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.
The pair has almost reached the target at 113.40, but I just noticed that there is also a doji bar on the W1 time frame, so I think it's possible for us to see a deeper correction.
As I thought, a deeper correction did begin. Let's see, however, whether the pair will break out below 113.00.
Despite everything the support at 113.00 held out and the pair rebounded from it. It looks like it will test the resistance at 114.45 soon.
USD/JPY pulled back from 114.15 yet again and is still stuck in a relatively tight range below it. I think we'll need to wait for the NFP today for a breakout.
Nov 03 2017 at 17:01
USD/JPY could not top 115 but it might do so next week.
Positivity
The dollar / yen attempted to decrease yesterday with a bottom of 113.53, but closed higher at 114.07. Expectations are neutral in short terms, possibly with light bullish signals for resistance testing 114.50, which remains a good place for short positions with narrow stops. A clear breakthrough over this area may clear the path to 115.50 or higher. Support for the day remains 113.75. A clear break below it can take the price to a neutral zone with testing at 113.20. I'm basically neutral.
The US dollar was down against the Japanese yen on Friday morning. During the Asian trading, USD / JPY was trading at 114.01, having lost 0.06%. I believe that support is now at 112.97, Tuesday's low, and the resistance is likely to come in level 114.30 - the maximum of Wednesday.
The US dollar was up against the Japanese yen on Friday. By the close of US trading, USD / JPY is trading at 114.08, gaining 0.001%. I believe that support is now at 112.97, Tuesday's low, and resistance is likely at 114.43, the high of Friday's trading.
On Friday, the rate of the US dollar went to growth after the release of reports on the volume of industrial orders in the US and business activity in the services sector, which made investors forget about the weaker earnings report in the United States than in the forecast.
The dollar remained stable against the yen: the pair USD / JPY was trading at 114.07 after a fall during the trading session.
Next week, investors will continue to monitor progress in US tax reform, but from the standpoint of economic reports, this will be a relatively quiet week.
The dollar remained stable against the yen: the pair USD / JPY was trading at 114.07 after a fall during the trading session.
Next week, investors will continue to monitor progress in US tax reform, but from the standpoint of economic reports, this will be a relatively quiet week.
