The dollar recorded a slight increase against the yen on Thursday. The pair traded in a relatively wide range, but the closing price was close to 112.86 and 113.04 respectively. In the early hours, bullish moods dominated and so was the peak of the day at 113.32. Subsequently, the Japanese currency recovered the losses.
The pair maintain a strong bearish trend, immediate support around 111.90/112.00 and follow by 111.60/70, 111.50 is critical level on the downside, break below would le
ad to further decline.
The US dollar recorded a significant decline against the Japanese yen on Friday. The session started at 113.04 and ended at 112.08. Daytime extreme values were reached at 113.13 and 111.94, respectively. Negative attitudes now prevail, and 110.90 is a major challenge for bears.
Key levels to watch for:
Support: 110.90;
Resistance: 112.90; 114.30; 115.40;
USD/JPY reached a low at 111.88 yesterday and today it is still struggling to break out below that level. I think it will eventually succeed and drop to 111.50 - 111.30.
The US dollar rose against the Japanese yen on Monday. The currency pair opened at 112.11 and the dollar added 49 pips after steady upward movement. Graphics continued to grow below moving averages, while the relative strength index remained neutral. In the short term, positive outlooks have a predominance, with key levels at 112.90.
111.90 is proving to be a very strong support level, USD/JPY is testing it for the third time in five days. The target to the downside is clear - 111.50 or even 111.00 but whether it will break out below the support is not.
The greenback had an aggressive sell-off day versus the Japanese yen and is trying to touch the 111.00 psychological level. On a medium-term basis, USD/JPY is still holding within a trading range 108.10 – 114.40.
USD/JPY reached 111.00 as I thought it would. In my opinion it may keep depreciating, with or without intermittent correction, to 109.00 or even to 108.00.
The pair is ranging between 111.60 to 111.05 while risk remains on the downside. I’m expecting further decline if Usd/Jpy breaks out the range towards 111.00 level.
USD/JPY had briefly rebounded from 111.06 but it appears that the pair is about to test that level once again. I think it will soon break out below it and keep depreciating.
The dollar lost positions against the yen on Monday. The US currency broke the positive momentum from the end of last week. However, short-term expectations remain for its benefit. The session started at a price of 111.47, the trend was bearish all the time. The pair hit the bottom at 110.83, breaking the first support at 110.94. The finish line was cut at 110.08.
Support: 110.94; 110.76;
Resistance: 111.87; 112.08;
The dollar advanced against the yen on Tuesday. The US currency justified the positive expectations and so the pair approached the resistance at 111.87. If the bullish sentiment continues in the future, it will be pierced. The session started at 111.08 and the trend was volatile. Peak for the day was reached at 111.63, and the final line was truncated 17 pips down.
The USD was down against the Japanese yen on Friday. By the close of US trading, USD/JPY was trading at 112.19, losing 0.30%. I believe that support is now at 110.83, Monday’s low, and resistance is likely at 112.88, the maximum of Friday’s trading.
Usd/Jpy is consolidating the gain, and downside seems limited to 113.10.
Today the pair is showing strong upward potential, but a hurdle is seen at 113.70.
Short term we could see the pair indicator point higher after Usd/Jpy bounce off the support zone around 112.00.
USD/JPY is struggling around 112.50 and downside is favored. With US macro data and BoJ this week the pair will get fresh directional impetus.
USD/JPY is showing limited, but persistant upward potential. The pair is aiming the resistance at 113.35 now and in case of breaking it, doos are opened for testing 113.75.