Usd/Jpy is consolidating its gains below its immediate resistance level at 109.54, the direction of the pair depends a lot on this week key data.
USD/JPY started the new week trading within tight range above 109.00. It seems that the pair is awaiting Fed to set direction.
The US dollar recorded a neutral session against the Japanese yen on Wednesday. The currency pair opened at 109.86 and the price jumped from the first resistance at 109.90. The dollar finished at 109.83 and for additional gains, a breakthrough in resistance would be needed at 109.90.
USD/JPY
Key levels to watch for:
Support: 107.70; 105.40; 103.25;
Resistance: 109.90; 111.15;
Key levels to watch for:
Support: 107.70; 105.40; 103.25;
Resistance: 109.90; 111.15;
May 03 2018 at 10:19
The dollar/yen was tentative yesterday. Commercial signals are neutral, but overall I still prefer the upside scenario at this point with the nearest target in the 110.50 region. The closest support is about 109.50 (Daily EMA 200). A clear breakthrough and daily closure back under it may interrupt the upward phase for testing at 109.00 or below. Upward, a clear breakthrough and daily closing above 110.50 will open the doors to the region 111.50.
The greenback continues to fall and soon USD/JPY will meet again the 109.00 handle. Technical structure suggests further declines, but let’s see what NFP will bring.
May 04 2018 at 11:38
The dollar/yen had a bearish momentum yesterday, dropping below the daily EMA 200. Although I prefer the bullish scenario for now, this fact can create a bearish scenario for a false breakthrough, so a clear breakthrough is needed over EMA 200 to recover the upward phase with goals in the area at 110.50 or higher. Expectations are down for testing at 108.50. The first resistance is at 109.50. A clear breakthrough and a daily/weekly closure over it will confirm the continuation of the bullish scenario.
Usd/Jpy pulled back and consolidating short term, but long term the pair still appear to be bullish. Break below the support level around 108.63 could signal a deeper pullback.
USD/JPY regained the 109.00 handle and is showing good upward momentum. It seems that bulls will soon test 109.50.
May 09 2018 at 18:42
The dollar/yen had another tentative movement yesterday. The price traded higher earlier this morning, hitting 109.63. The prospects are bullish, but I note that a clear break above 110.05 is needed to re-raise the upward phase with targets in the area of 110.50 or higher. The nearest support is 109.35, which breakthrough can take the price to a neutral zone with testing at 109.00. But important support remains 108.50, which has to be clearly broken to confirm the downside scenario of the false breakthrough (above the daily EMA 200) for testing 107.85 before the target in the 106.60 area.
May 11 2018 at 17:52
Strong res in the area around 110.30. 200SMA needs to be broken to the upside.
Positivity
USD/JPY is pushing to the downside. The pair broke the support at 109.30 and is coming down to test 109.00 very soon.
I went long usd/jpy @109.226 on the on the 25th april SL 107.849 guess we will see if it works out, targeting 119
Protect capital first take profits second
Intraday Elliottwave Analysis: USDJPY, turning neutral in the 109-110 range
USDJPY was rejected by 110 level again and formed a potential double top.
However, it needs to be confirmed on close below 108.87.
Price also closed above weekly Ichimoku kijun-Sen for the first time from January.
If today close above 109.62, will regain upside momentum.
Short term turns neutral.
Daily support Levels: 109.21 109.15 108.94 108.87
Daily resistance Levels: 109.48 109.62 109.75 109.85
Intraday Trade Idea:
Sell Latentinterest Order: 110.01
Buy Latentinterest Order: 109.02
USDJPY was rejected by 110 level again and formed a potential double top.
However, it needs to be confirmed on close below 108.87.
Price also closed above weekly Ichimoku kijun-Sen for the first time from January.
If today close above 109.62, will regain upside momentum.
Short term turns neutral.
Daily support Levels: 109.21 109.15 108.94 108.87
Daily resistance Levels: 109.48 109.62 109.75 109.85
Intraday Trade Idea:
Sell Latentinterest Order: 110.01
Buy Latentinterest Order: 109.02
http://forexsignal.love/aggressive-trend-scalper-ea/ 5 days' trial period is available. Welcome to backtesting!
Usd/Jpy has failed twice to break above the resistance at 110.04, currently trading sideways around 109.40, showing no clear direction.
USD/JPY is trading at daily highs, but yet 110.00 remains hardly to achieve.
Intraday Elliottwave Analysis: USDJPY, may re-test the uptrend line again
USDJPY closed above 109.62.
Short term regain some bullish momentum.
Weekly uptrend line is just ahead.
How the trend develop here is very important.
Daily support Levels: 109.55 109.50 109.47 109.33 109.26 109.02
Daily resistance Levels: 109.94 110.00 110.05 110.19 110.22 110.29 110.44 110.61
Intraday Trade Idea:
Sell Latentinterest Order: 110.22
Buy Latentinterest Order: 109.50
USDJPY closed above 109.62.
Short term regain some bullish momentum.
Weekly uptrend line is just ahead.
How the trend develop here is very important.
Daily support Levels: 109.55 109.50 109.47 109.33 109.26 109.02
Daily resistance Levels: 109.94 110.00 110.05 110.19 110.22 110.29 110.44 110.61
Intraday Trade Idea:
Sell Latentinterest Order: 110.22
Buy Latentinterest Order: 109.50
http://forexsignal.love/aggressive-trend-scalper-ea/ 5 days' trial period is available. Welcome to backtesting!
USD/JPY made good rally today and currently is pressuring the February’s high at 110.48, which could be a possible breakout point.
The dollar recorded a second consecutive successful session against the yen on Tuesday. The US currency justified the positive expectations, with the result that the first two resistances at 110.02 and 110.27 were overcome. Short-term indicators remain in favor of the dollar. The session started at 109.64 and the final was 70 pips up. Peak of the day was scored at 110.45.
