Merrill Lynch advises purchases of USD/JPY.
USD/JPY fell after the ISM index of business activity in the services sector replicate the success of the index in the manufacturing sector in the US, analysts say.
At the same time offers to buy about a hundred continue to act as support and attempts to restore of the pair wear sluggish nature and risk of breaking down seems considerable, the analyst added.
In this scenario, attention will shift towards 101.75/69 and 101, they concluded.
The US dollar was down against the Japanese Yen on Friday. By the end of the Asian session USD/JPY was trading at 102.25, shedding 0.22%. I believe that the support is now located at around 101.18, Wednesday’s low and resistance is at the level of 104.14 - a maximum of Monday.
The US dollar rose against the Japanese Yen on Friday. By the close of US trading USD/JPY was trading at 102.28, gaining 0.20%. I believe that the support is now located at around 101.40, Tuesday’s minimum, and resistance is likely at the level of 103.36 - the maximum of Wednesday.
USD/JPY
I can say with confidence that the defining for weeks trend will be Wednesday, when the decisions of the Central Bank of Japan and the US Federal Reserve on interest rates will come out and the corresponding comments on monetary policy in these countries. As for the graphical analysis, the H4 on he says that the couple will stay for some time within the boundaries of 101.70 - 103.25. After that, according to indicators on D1, the pair will drop to the support of 100.50, and repulsing by it, abruptly will go up - to the resistance of 104.30 and in case of breakthru, even higher - up to a height of 111.45.
USD/JPY
The pair maintain the downward direction for the third consecutive day on Wednesday amid statements from the Federal Reserve and Bank of Japan. The dollar has depreciated by nearly 140 pips to 100.30 to its lowest point in nearly a month. The high of the session was made at a level of 102.78. Current attitudes seem negative, putting psychological support at 100.05 as an immediate goal.
The US dollar rose against the Japanese Yen on Friday. By the close of US trading USD / JPY was trading at 100.97, gaining 0.22%. I believe that the support is now located at the level of 100.07, the low of Thursday, and resistance is at the level of 102.81 - the maximum of Wednesday.
The dollar lost gains against the other major currencies on Wednesday after the release of positive data on orders for durable goods in the US, while the markets are still focused on the long-awaited meeting of key oil producers.
USD/JPY rose by 0.17% to 100.58.
Dollar/yen had a bullish momentum earlier today in Asian session, hitting 101.63. The upwards scenario of double bottom is now confirmed with targets near 102.00/20. The outlook is bullish in nearest term. Initial support is at 100.80 whose breakthrough could lead price to neutral zone with re-testing 100.10 key support. In long-term the main downward scenario remains.
During today’s Asian trade, the US dollar is stable against the euro while the yen depreciates sharply against nearly all currencies - as the investors returned to risk appetite and invest in higher-yielding assets, writes MarketWatch.
The dollar against the yen jumped by 1% - from 100.69 to 101.63 yen.
Euro rose against the Japanese national currency by 1% - to 112.94 yen to 114.08 yen.
Weaker yen is due to the approaching end of the quarter and the increased activity of Japanese companies in the foreign exchange market before the closure of accountancy.
The US dollar recorded a modest rise against the yen on Wednesday. The pair added 27 pips at a closing price of 100.68. Daily extreme points were reached respectively at 100.25 and 100.81. Given the growing positive attitude, successfully overcoming the corresponding peak, followed by 101.20, will witness a new increase of USD/JPY.
USD/JPY:
Key levels to watch for:
Support: 99.85;
Resistance: 101.20; 102.57; 103.70.
The US dollar rose against the Japanese Yen on Friday. By the close of US trading USD/JPY was trading at 101.34, gaining 0.31%. I believe that the support is now located at around 100.07, Tuesday’s low, and resistance is at the level of 101.86 - the maximum of Thursday.
Key quote from BOJ Governor Kuroda :’‘BOJ still has a lot of room left to ease policy’’.
Usd/Jpy pair is in correction mood after 2 weeks gain, but downside seems limited.
The US dollar added value versus the yen on Monday and recover some of Friday’s losses. The pair climbed 34 pips to 103.59 after trading in the 103.78 and 103.59. The price failed to test the levels of peak last week, but the bulls remain technically in a leading position.
USD/JPY:
Key levels to watch for:
Support: 102.70; 101.75; 100.05;
Resistance: 104.35; 105.45.
The US dollar rose against the Japanese Yen on Friday. By the close of Asian session USD/JPY was trading at 103.78, gaining 0.07%. I believe that the support is now located at around 102.78, Monday’s low, and resistance is at the level of 104.63 - the maximum of Thursday.
The pair pulled back after hit 2 month high, the lack of upward strength may suggesting bearish movement for the coming week.
The US dollar took a break in the Asian session on Tuesday after recent gains, retreating from the seven-month high against a basket of major world currencies, as investors assessed the likelihood of the Fed raising interest rates in the coming months.
In relation to the Japanese yen, the dollar slightly lost ground during the day and is trading near 103.98.
The US dollar recorded a decrease against the yen on Wednesday. The pair opened at 103.86 and the price managed to break through the first support at 103.70. Eventually, after a volatile session, the dollar ended at 103.43. The pair continues to be in positive territory, which will likely follow the new test levels at 103.70.