The US dollar fell against the Japanese yen on Friday. By the close of US trading, USD / JPY was trading at 111.90, losing 0.46%. I believe that support is now at 111.38, the low of Friday's trading, and resistance is likely at the level of 112.91 - the maximum of Monday.
USD/JPY recovered today and currently is trading around mis 112s. But to return into bullish mode, the pair will need to advance beyond 112.90. On the four hour time frame the price is developing below its 100-day and 200-day SMAs whie RSI and stohstic pushed above their mid-lines. Immediate resistance is offered by 112.60, and next one is seen at 112.90, which is breaking to above would bring a steeper recovery towards 113.40.
USD/JPY is showing strong positive tone in the short-term. Ont he four hour time frame the parice is developing above its moving averages, all of them almost flat now. Stochastic has reached extreme overbought readings, while RSI is looking for direction around 63 level. As long as are holding above 112.60, the pair is poised to extend its advance towards 113.40.
USD/JPY dropped heavily after had the impressive high at 113.14 to a low at 112.81. Currently the pair is trading few pips below the 113.00 handle, but I think the short-term remains bullish as long as holds above 112.65.
USD/JPY pushed above the 113.00 handle and the short trem outlook looks neutral to bullish. On the four hour time frame the price is developing above all its flat moving averages. RSI is slowly moving to north with current level 55. Stochastic is showing strong upward momentum above its mid-line. Next bullish target is seen at 113.40 (31st October’s high).
The US dollar rose against the Japanese yen on Friday. By the close of US trading, USD / JPY was trading at 113,20, adding 0.34%. I believe that support is now at 111.78, the low of Monday's trading, and resistance is likely at the level of 113.39 - the maximum of Wendesday.
USD/JPY closed the week at 113.18. For the upcoming week support sits at the 113.00 level, which is broken will bring next target at 112.50. In case of storng bearish sentiment the focus witjj turn to 112.00 and then lower towards 111.50. The upside offers first resistance at the 113.50 level. Above this one the attention will be turned to 114.00, and then we may expect a possible move towards the 114.50.
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