Jul 07 2016 at 03:05
The USDJPY may still find a good support on the 100.00, but it stays weak, it may drop some more. In case of a pullback, the 103.00 level may act as resistance.
Jul 07 2016 at 09:02
stian posted:
Not as agreesive as I would've hoped, but: 'Bank of Japan Governor Haruhiko Kuroda said on Thursday the central bank is ready to take additional monetary easing steps if needed' (Reuters). So certainly still on the cards for next BoJ meeting.
Yes that is what market participants expecting. However Japan's alone effort will be very hard to bring a great trend reversal direction of USD/JPY. Yen strong demand will remain. It should be both effort of U.S and Japan that can bring a change. But Fed rate hike is about to postpone further due to brexit as we see.
Japan are becoming quite a risky 'safe heaven' compare to the US and Australia. ASX200 up 0.58%. Sp500 future at 0% (yesterday up 0.54%), while Nikkei is down 0.67%. Even FTSE100 is up 1.44%. Japan is really underperforming most of the developed markets. While it is away from the turbulence of Europe, Japan seems less and less appealing - at least macro wise.
Sell on 100pip pullbacks.
Keep at it
Jul 08 2016 at 03:02
Interesting, but the most relevant pullback on the daily chart is from the 100.00 level to the 103.00 level. The pair may continue lower, but now it has to face once again the 100.00 level.
As expected, the reelected abeenomics - which promise more easing sent the pair straight up currently at around 101.97 with more room for gain.
Jul 12 2016 at 03:41
The USDJPY is trying to break above the 103.00 level, if it continues higher it may find some resistance around the 104.00 level.
Jul 12 2016 at 07:04
The USDJPY had a strong bullish momentum yesterday topped at 102.89 and hit 103.28 earlier today in Asian session. The bias is bullish in nearest term testing 103.55 which is a good place to sell with a tight stop loss. Immediate support is seen around 102.45. A clear break below that area could lead price to neutral zone in nearest term testing 102.00 – 101.50 region. Overall I still prefer a bearish scenario but as long as stay above 101.50 price is clearly in a bullish correction bias right now. On the upside, a clear break and daily close above 103.55 would expose 105.00 region.
The US dollar recorded solid growth versus the yen on Monday, broke a six-day negative series and nearly recouping its losses. The dollar added almost 220 pips to a closing price of 102.77 after trading in the 102.88 and 100.52. Price overcame the mean values and the index of relative strength added significant positions, suggesting additional gains.
On Tuesday, the dollar falls against other major currencies as investors shifted attention to the forthcoming meeting of global central banks on expectations of additional stimulus measures from their side.
USD/JPY pair rose to 104.89, the highest value since June 24.
USD/JPY pair rose to 104.89, the highest value since June 24.
Trading sentiments for the pair USD/JPY today: to buy above 103.60 with targets 105.30 and 106.10 points. Alternative scenario: The downside breakout of 103.60 will open the way to 102.85 and 102.45.
USD/JPY has risen more than 4% over the past three days, noting a new three-week high on a psychological level of 105.00. Probably, the currency will return to the support level 103.40, and then move down to 101.25. An alternative scenario would be a successful break of strong resistance level of 105.00 at the top, which will open the way to 106.80 resistance level.
Perhaps the market is too aggressive in their expectations regarding the 'helicopter money'? Incentives will come, but when? JPY crosses are in risk to form a top, if interest in safe assets, which was active after Brexit, did not return.
The US dollar was down against the Japanese Yen on Friday. By the end of the trading session USD/JPY is traded at 104.83, shedding 0.47%. I believe that the support is now located at around 100.42, Monday's low, and resistance is likely to beat the level of 106.31 - a maximum of Friday's trading.
Jul 17 2016 at 10:23
Bullish on this pair.
Positivity
Jul 19 2016 at 10:27
Good resistance at the moment.
Positivity
The pair is moving to the downside and I doubt that drop will end before USD/JPY reaches 105.30, or it might even reach 104.60, which is (EMA)89 on the four-hour time frame.
Jul 24 2016 at 14:12
Bearish on the short-term.
Positivity
Same here ^^
I don't think the BOJ will fulfil the markets desire for a rally. ( could be wrong of course ).
I don't think the BOJ will fulfil the markets desire for a rally. ( could be wrong of course ).
Keep at it
There were high expectations that the Bank of Japan will expand monetary stimulus. According to some forecasts the regulator will emerge fiscal stimulus, but the Bank of Japan will prefer to wait and study the special budget plan to be drawn up in the coming weeks.
If the expansion of monetary stimulus occurs, it will give direct support for banks. The bank at this stage see a number of obstacles and I doubt that there will be something soon.
Since the Bank of Japan may disappoint the markets, we should be cautious in terms of sales of USD/JPY, as a fiscal stimulus should support the pair.
Ideally, decline to 104.00-50 yen would be an excellent opportunity for opening long positions.
If the expansion of monetary stimulus occurs, it will give direct support for banks. The bank at this stage see a number of obstacles and I doubt that there will be something soon.
Since the Bank of Japan may disappoint the markets, we should be cautious in terms of sales of USD/JPY, as a fiscal stimulus should support the pair.
Ideally, decline to 104.00-50 yen would be an excellent opportunity for opening long positions.
