The dollar / yen resumed its inertia yesterday, making a peak at 109.45. Expectations are bullish for testing the daily EMA 200 in the region of 109.60. A clear breakthrough over it will open the doors to resistance 110.50. Immediate support is 109.00, whose breakthrough can take the price to a neutral zone with testing at 108.50, but basically I stay in the bulls camp at this stage and any downward pressure can be considered as a good opportunity for long positions. My main technical views, however, remain neutral.
The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD/JPY was trading at 109.05, losing 0.23%. I believe that support is now at around 107.63, Monday’s low, and resistance is likely at 109.54, the high of Friday’s trading.
The US dollar recorded a neutral session against the Japanese yen on Wednesday. The currency pair opened at 109.86 and the price jumped from the first resistance at 109.90. The dollar finished at 109.83 and for additional gains, a breakthrough in resistance would be needed at 109.90.
USD/JPY
Key levels to watch for:
Support: 107.70; 105.40; 103.25;
Resistance: 109.90; 111.15;
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The dollar/yen was tentative yesterday. Commercial signals are neutral, but overall I still prefer the upside scenario at this point with the nearest target in the 110.50 region. The closest support is about 109.50 (Daily EMA 200). A clear breakthrough and daily closure back under it may interrupt the upward phase for testing at 109.00 or below. Upward, a clear breakthrough and daily closing above 110.50 will open the doors to the region 111.50.
The dollar/yen had a bearish momentum yesterday, dropping below the daily EMA 200. Although I prefer the bullish scenario for now, this fact can create a bearish scenario for a false breakthrough, so a clear breakthrough is needed over EMA 200 to recover the upward phase with goals in the area at 110.50 or higher. Expectations are down for testing at 108.50. The first resistance is at 109.50. A clear breakthrough and a daily/weekly closure over it will confirm the continuation of the bullish scenario.
The dollar recorded a second consecutive successful session against the yen on Tuesday. The US currency justified the positive expectations, with the result that the first two resistances at 110.02 and 110.27 were overcome. Short-term indicators remain in favor of the dollar. The session started at 109.64 and the final was 70 pips up. Peak of the day was scored at 110.45.
USD/JPY
Key levels to watch for:
Support: 108.97; 108.63;
Resistance: 110.02; 110.27; 110.69;
The dollar / yen made a significant upside momentum yesterday, breaking through the range. My upward pattern is activated again. The trading signals are bullish for the testing 111.00 - 111.50. Support for the day is 110.00, whose breakthrough can take the price to a neutral zone with testing 109.50, but overall I still prefer the bullish scenario at this stage and every bearish pressure should be considered a good opportunity to buy.
USD/JPY
Key levels to watch for:
Support: 109.90; 107.70; 105.40;
Resistance: 111.15;
Growth in the pair USD/JPY “stalled” during the last few days of the exchange. The pair could now be on top if the yield on long-term US securities were also high: the situation with the latter is still unclear. The resistance level is now observed in the zone 110,00-25, attention to which was riveted when moving upwards.
The US dollar was up against the Japanese yen on Friday. By the close of US trading, USD/JPY was trading at 109.38, gaining 0.12%. I believe that support is now at around 108.96, Thursday’s low, and resistance is likely at 111.39, Monday’s high.
The dollar/yen continued its downward movement yesterday, sliding under the significant support of 108.50 and now fighting around it. Expectations remain for down. In my view, an acceptable strategy now (due to the good risk-return ratio) is for purchases of around 108.50 with narrow stops of loss below 108.10 and targets of at least 100 or 150 pips. Downwards, a clear break and daily closure below 108.10 will clear the road to 107.50/00 or lower. The first resistance is at 108.85, whose breakthrough can take the price to a neutral zone. Only a clear break above 110.00 will, however, interrupt short-term downside signals after the pin on the daily chart.
The US dollar recorded a decline against the Japanese yen. The session started at 109.40 closing for the day at 108.76. The dollar continued its downward trend reaching a one-week decline of 108.10, successfully breaking the support at 109.13 and 108.54. In case of breakthrough of the support at 108.54, we would expect a test of 107.88.
USD/JPY
Key levels to watch for:
Support: 108.54; 107.88;
Resistance: 109.13; 110.02;
USD/JPY
Key levels to watch for:
Support: 107.70; 105.40;
Resistance: 109.90; 111.15;
The US dollar recorded a decline against the Japanese yen on Thursday. Session started at 110.17 and the price managed to break the first support at 109.90. Eventually the pair finished at 109.69 and if the bearish trend continues, we can expect a test of the next support at 107.65.
The dollar / yen made an attempt to lower yesterday with a bottom of 109.91, but turned up, closed higher at 110.62 and hit 110.87 earlier today. Views are bullish for testing 111.00 in a short time. A clear break above this level may cause upward pressure to test the top line of the bearish canal in the 112.00 area. This area is a good place to sell. Immediate support we have at 110.45 (current bottom). A clear break below it can take the price to a neutral zone with testing 110.00.
Next week is not full of trend-changing events. So I say, let’s trade USD/CHF in range.
The US dollar recorded a decline against the Japanese yen on Wednesday. The currency pair lost only 11 pips at a closing price of 110.47. The chart continued to grow above the moving averages, while the relative strength index remained neutral. Technically, the bulls remain in the lead, and immediate support is 109.90.