USD/JPY Today for Newbies need confirmation

I think that USD / JPY has found a new corridor between 114.50 and 112, and it will try to break lower sooner than to break above.

The pair consolidating lower indicating the likelihood of further decline towards 112.00 level.

For the sixth consecutive day the Japanese yen performs better than the US dollar. During the last session the dollar lost another 72 pips. Early the dollar was traded for 112.49 yen. The first hours the dollar was stronger and it recorded a peak level of 112.86, but later followed fairly sharp decline in the rate and bears broke first support at 112.00 to record bottom level of 111.53. The session closed at 111.77.

USD/JPY
Key levels to watch for:
Support: 111.20; 109.63;
Resistance: 112.00; 114.05; 115.64.

Dollar/yen had a bearish momentum yesterday, bottomed at 111.53 and hit 111.42 earlier this morning. The outlook remains bearish, but note that the zone 111.50/30 is key support and a good place for a long position with tight stop loss. Purchases around this area will give a better price and risk/return. Immediate resistance is 112.30/50, whose breakthrough could lead price to neutral zone for testing 113.00 or higher. On the downside, a clear break and daily close below 111.30 would reactivate the bearish pattern as part of the scenario of the double top (118.60).

The yen continues to surprise the dollar. For the seventh consecutive day the Japanese yen performs better than the greenback. During the last session the dollar lost another 52 pips from its account. Early in the morning one dollar traded for 111.78 yen, and within minutes there was registered daily high at 111.79 yen per dollar. There was a long and convincing decline and after breaking the first support level at 111.20, bears took its bottom at exchange rate of 110.73. Bulls found the strength to return the rate to the level of 111.26.

The pair remains vulnerable on the downside, further decline might be expected, my next target is at 109 level.

Usd/Jpy is showing short term momentum indicating a bit higher, on the downside 110.10/00 act as strong support zone.

The US dollar recorded a modest decline against the yen on Wednesday. The pair lost only 10 pips at a closing price of 111.03. The graphics continue to evolve under moving averages, while the index of relative strength remained on neutral territory. Keeping the current levels will contribute to positive attitudes.

USD/JPY
Key levels to watch for:
Support: 111.00; 109.50;
Resistance: 114.00; 116.45.

Dollar/yen had a bullish momentum yesterday, topped at 111.94 and hit 112.19 earlier this morning. The bias remains for up to test 112.85 as part of the bullish scenario hammer formation. Immediate support is near 111.30. A clear break below could bring price to neutral trade zone.

The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD/JPY is trading at 111.40, losing 0.47%. I believe that support is now at around 110.09, Monday’s low, and resistance is likely to come in at 112.20, the high of today’s trading.

The pair is consolidation in a narrow range short term, but well within negative territory, break below 111.00 level would like lead to further decline.

The dollar registered a volatile session against the yen on Tuesday. Although the trend varies widely, eventually opening price was close to that of closing, respectively, 110.89 and 110.73. In the early hours of the trade the trend was bearish in nature and so the pair hit bottom at 110.26, but later the dollar offset losses. If the negative momentum of the last two days continued, USD/JPY will test the support at 109.79.

USD/JPY
Key levels to watch for:
Support: 109.79; 109.00;
Resistance: 112.84; 113.47.

The US dollar was up against the Japanese yen on Friday. By the close of US trading, USD/JPY was trading at 111.10, adding 0.26%. I believe that support is now at around 110.13, the low of Friday’s trading, and the resistance is likely at 111.61, Monday’s high.

The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD/JPY was trading at 108.65, losing 0.40%. I believe that support is now at around 108.55, the low of Friday’s trading, and the resistance is likely at 111.58, Monday’s high.

The US dollar recorded a rise against the Japanese yen on Wednesday. The currency pair opened at 108.41 and ended 44 pips higher. Daytime extreme values ​​were reached at 108.37 and 109.17, respectively. In case the price continues to rise the pair will move to the first resistance at 109.50.

USD/JPY
Key levels to watch for:
Support: 107.70;
Resistance: 109.50; 111.00; 114.00;

The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD/JPY was trading at 109.10, losing 0.20%. I believe that support is now at around 108.11, Monday’s low, and resistance is likely at 109.49, Thursday’s high.