USD/JPY finally dropped to 112.00 and although the pair is still testing that support level I think that a breakout is possible and it could lead the pair to 111.50.
USD/JPY found support at 111.66 and despite the hammer bar that formed on the H4 time frame I do not think this is the end of the move to the downside. Today and tomorrow there will be BoJ news, I think the drop will depend on them.
USD/JPY finally rebounded more decisively from 111.54. I think next target to the upside will be around 112.65 - 112.70.
USD/JPY reached 112.40 before it renewed its move to the downside although it still hasn’t broken out below 111.50. I think I will refrain from new shorts before a breakout.
The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD/JPY is trading at 111.12, losing 0.71%. I believe that support is now at 111.02, the low of Friday’s trading, and the resistance is likely at 112.88, Monday’s high.
The pair remains bearish, technical indicators indicate oversold, upward correction might be expected before further decline.
USD/JPY broke out below 111.50. The trend remains very bearish and I think the drop will last at least until the pair reached 109.50 - 109.30.
USD/JPY rebounded from 110.60 after all and it formed a spinning top bar on the daily time frame. I don’t think that the move to the downside is over in the long term, but for the moment we could see some retracement.
The US dollar recorded a volatile session against the Japanese yen on Monday. The currency pair opened at 111.08 and the price managed to break the first support at 111.00 twice. Eventually, the pair finished at 111.08 and if the bear trend continues, we can expect a new test of the first support level at 111,000.
USD/JPY
Key levels to watch for:
Support: 111.00; 109.50; 108.40;
Resistance: 114.00; 115.40.
USD/JPY retraced back to 112.10 and is testing that level. I think that if it breaks out above it next target will be around 112.60.
The US dollar recorded a rise against the Japanese yen on Tuesday. The session started at 111.08 and the dollar added 80 pips. Daytime extreme values were reached at 110.82 and 111.95, respectively. The four-hour chart suggests an increased interest of the bulls to the couple, with a more significant goal of 114.00.
After the FED news yesterday USD/JPY returned to the support at 111.00 and is once again range-bound above that level. I think it’s possible to see another move to the upside to 112.20.
The US dollar recorded a decline against the Japanese yen on Wednesday. The session started at 111.88 and finished 72 pips lower. Daytime extreme values were reached at 112.18 and 111.05 respectively. If the bearish trend persists, the pair will most likely test the first support at 111.00.
USD/JPY
Key levels to watch for:
Support: 111.00; 109.50; 108.40;
Resistance: 114.00; 115.40.
Usd/Jpy is bouncing on the downside between 111.70 to 110.60, support lies around 110.60/70 zone, break below would open the door to 110.00.
USD/JPY is still undecided above 111.00. I have closed all my positions and I will wait out the end of the range, which I think won’t occur before the beginning of next week, before opening new ones.
The US dollar recorded a modest rise against the Japanese yen on Thursday. The currency pair opened at 111.16 and the price bounced back from 111.00. Eventually, the pair finished at 111.22 and if the bearish trend kept the most likely the dollar would be able to break the support at 111.00.
After North Korea tested another missile that landed in Japan’s exclusive economic zone, Yen continue to push lower, 110.00 become critical support.
USD/JPY is range-bound around 110.50 and so far appears very undecided. I think we’ll have to wait for the news later this week and especially the NFP for USD/JPY to pick a more clear direction.