USD/JPY: the forecast – neutral – there were signs of fading of an impulse, but so far too early to wait for a bear turn. The recent strong ascending impulse has died away, but at this stage so far too early to expect a bear turn. USD it is more probable, will bargain in a side trend probably between 114.00 and 116.00.
A day before the announcement of the lifting of the US base rate by the Fed, the dollar marked a slight increase against most currencies. USD/JPY closed Tuesday with a decline to 115.18.
Slight increase noted the dollar against the Japanese yen on Tuesday. Short-term expectations remain in favor of the US currency. In this case the couple can make a new test of resistance at 116.12. The session was opened to a rate of 115.01 and the dollar gained almost 17 pips to the finish. The trade was volatile, with the highest value for the day had reached the level of 115.47.
Key levels to watch for:
Support: 113.08; 112.52;
Resistance: 116.12; 117.48.
The US Federal Reserve raised its key rate to a range of 0,50-0,75 per cent per annum, and said that it is waiting for three increases in 2017.
By 20.00 GMT USD/JPY rose by 104 pips to 116,36.
The dollar recordеd a successful session against the yen at the end of the week. The pair broke the first resistance at 117.48, while short-term expectations remain in favor of the US currency. In this case, the pair may test the key level at 118.84 soon. Trading was closed at a rate of 117.91.
Key levels to watch for:
Support: 115.28; 113.08; 112.52;
Resistance: 118.84; 121.45.
The pair probably will continue its consolidation movement in the near future as long as support level 117.00 still holds.
USD/JPY erased positions yesterday, which devalued the dollar by 29 pips to 117.54. Trading took place within the extreme values at 118.06 and 117.10. The price continues to consolidate above the low averages and RSI retreated moderately. The current range implies a likely bullish continuation, but a breakthrough of 116.15 will contribute to negative attitudes.
The US dollar was down against the Japanese Yen on Friday. By the end of the American session USD/JPY is trading at 117.34, shedding 0.18%. I believe that the support is now located at around 116.52, Monday’s low, and resistance is likely at the level of 118.28 - the maximum of Tuesday.
The pair is moving towards 117.00 psychological resistance level, sideway trading might be expected within the range between 117.80 to 117.10 next week.
Dollar drops in the end of New Year in a weakened trade.
Against the yen, the dollar fell about 0.7% to 116.41, retreating from the 10.5-month high of 118.65 reached last week.
Key levels to watch for:
Support: 115.85; 114.89;
Resistance: 117.86; 118.66.
USD/JPY - buy at 116.41
• Stop: 115.85
• Limit: 118.25
• Time frame: 7 days
With downside limited above 116.00 level and lack of fundamental news, the pair would probably keep ranging, immediate resistance level can be found around 117.20 zone.
The dollar recorded another volatile session against the yen on Wednesday. Ultimately the trading ended in favor of Asian currency. If the bear trend continued to dominate the pair will break through support at 116.50 soon. The session on Wednesday launched the price at 117.73, and the finish line was crossed at a rate of 117.22. The difference between the highest and lowest value for the day was 113 pips.
Key levels to watch for:
Support: 115.67;
Resistance: 118.60.
The dollar tumbled against the yen on Thursday. The US currency lost significant positions, reaching levels since early December 2016. This month the couple broke two supports at 116.50 and 115.67. It is expected that soon the dollar to recover some of the losses accumulated. The session on Thursday started at a price of 117.22, and the final v aluewas 191 pips lower. Bottom of the day was struck at 115.21.
The US dollar was down against the Japanese Yen on Friday. By the close of US trading USD/JPY was trading at 114.54, shedding 0.14%. I believe that the support is now located at the level of 113.73, the low of Thursday, and resistance is likely at the level of 117.53 - the maximum of Monday.
USD/JPY
Key levels to watch for:
Support: 114.00; 111.00;
Resistance: 116.45; 118.30.