The US dollar was up against the Japanese yen on Friday. By the close of US trading, USD / JPY was trading at 109.19, gaining 0.001%. I believe that support is now at around 108.74, the low of Friday's trading, and resistance is likely at 110.92, Monday's high.
I think that if USD/JPY breaks out above 110.40 the next target to the upside will be 111.00. And, if the pair breaks out above that level too we could consider a possible trend reversal to the upside.
The US dollar recorded a rise against the Japanese yen on Monday. The currency pair opened at 109.15 and ended 45 pips higher. Graphics continued to grow below moving averages, while the relative strength index remained neutral. In case the upward movement continues we can expect a test of the second resistance at 111.00.
The bullish bounce on the USDJPY from the 109.00 level has been amazing. The pair has come very close to the 111.00 level, but what worries me is that the 55 day EMA has crossed below the 200 day EMA, forming what is known as a 'death cross', which has bearish implications in the midterm for the pair.
The US dollar recorded a significant rise against the Japanese yen on Tuesday. The session started at 109.60 and the dollar added 107 pips. If the direction continues upward, we can expect an attempt to test the first resistance at 111.00. Otherwise, in the downward direction, the pair will head to the first support at 109.50.
The US dollar recorded a decline against the Japanese yen on Thursday. Session started at 110.18 and after a volatile session the currency pair lost 63 pips. Short-term outlook remains neutral. Breaking the psychological limit at 109.50 is likely to direct the pair to 108.40.
The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD / JPY was trading at 109.19, losing 0.36%. I believe that support is now at around $ 108.60, the low of Friday's trading, and the resistance is likely at 110.95 - the maximum of Wednesday.
USD/JPY's rally is quite weak. US dollar has no rise against Eur, Pound. So, Yen is strong and a driver for USD/JPY. USD/JPY will break down 108 level and slip down to 101 level if BoJ has no intervene.
The US dollar recorded a fall against the Japanese yen on Friday. The session started at 109.55 and the currency pair fell 40 pips. Daytime extreme values were reached at 108.59 and 109.59, respectively. At the end of the session one dollar was exchanged for 109.15 Japanese yen.
The US dollar lost another 40 pips against the Japanese yen during the Monday session. The day was opened at an exchange rate of 109.36, and at the end of the session it was 108.96. Daytime extreme values were reached at 109.41 and 108.63, respectively.