USD/JPY Today for Newbies need confirmation

USD/JPY is showing neutral to negative short term picture today. The pair bounced from the daily low at 112.94 and curretnly is trading around 113.40 level. On the four hour time frame the price is developing above its bullish, but slow moving averages. Technical indicators are located within negative areas with the Momentum heading lower. A break below 112.60 will turn into bearish mode and on the other hand above 113.40, the upside will look more constructive.

The USD/JPY pair is on run,performing excellent today. The pair is nearing a 4-week high and currently is trading few pips below 114.00 handle. On the four hour time frame the price is showing strong bullish stance, having the development above its bullish moving averages. Technical indicators are standing well above their midlines and are showing good upward strength. The scale is leaned to the upside, with gains beyond 113.85 opening doors for an extension toward 114.54, October monthly high.

USD/JPY dropped to 113.70 as Wall Street suffered heavy losses and despite the broad-based greenback’s strength, the pair lost its traction in the second half of the day and fell below the 144.00 handle. Seems like the safe-haven flows helped the Japanese Yen finding some emand ahead of the weekend.

USD/JPY closed with bearish tone at 113.80. The price remains above its bullish moving averages but stochasrich is showing strong bearish momentum and RSI has lost directional strength around its mid line. First support zone is located at 113.60 and next one is 113.45. The upside offers resistance at 114.08 and higher at 114.30.

After the USD/JPY pair has set fresh 1-month high, now is trying to retain the 114.00 level. The four hour time frame is showing that the pair continues trading well above its 100-day and 200-day SMAs and both are gaining ground just modestly, some 100 pips below the current level. Technical indicators in the same chart ease within positive levels, the Momentum at fresh daily lows and the RSI barely easing from overbought territory with last one limiting the downside potential. Bulls and bears are now battling for dominance. Should the pair lose the 113.85, the immediate support, bears will take control and the pair could extend its retracement then, down to 113.40. Above the mentioned high, on the other hand, the pair has room to extend its advance up to 114.54, the October monthly high.

USD/JPY pulled back from the daily highs and fell below 114.00. The pair closed the previous day with modest losses, and today gained some traction rising to a daily high of 114.15 before losing its bullish momentum. The initial for aligns at 114.20 ahead of 114.55 and 115.00 ( the psychological level). The downside offers supports at 113.60, 113.00 and 112.00 (the psychological level).

The USD/JPY fell to 113.29 and reached a new weekly low. Currently is trading few pips above the level by the end of the US session. On the four hour time frame the pair is developing well above its 100 and 200 SMA, both around the 113.00 level and with the shortest advancing below the larger one as technical indicatorsresume their declines within negative levels, skewing the risk to the downside. Renewed selling interest below 113.20, now the immediate support should lead to a steeper decline, particularly if Asian shares follow the lead of their overseas counterparts.

USD/JPY is extending its slide toward 113.00 handle today despite the upbeat US retail sales data.On the four hour time frame the price is developing around the mild bullish 100-day SMA before bouncing and currently is trading around the daily highs. Technical indicators also recovered after nearing oversold readings, holding below their midlines but with an increased upward strength, indicating that the pair could continue recovering ground. The key will be stocks´ behavior as a mirror of the market’s sentiment. Should equities continue recovering, the pair could regain the 114.00 level, although a turn to the worst in sentiment will likely see it back challenging the 113.00/10 support zone.

USD/JPY is holding above the mild bullish 100-day SMA, currently at 112.95, which gains upward traction above the directionless 200-day SMA. Technical indicator on the four hour time frame resumed their declines after a failed attempt to regain the upside, now nearing weekly lows and skewing the risk to the downside.

Good pullback on the USDJPY from the 114.00 level to the 55 day EMA around the 112.77. The 55 day EMA may act as support, but if it breaks that moving average to the downside, then the 112.00 level may act as support. To the upside, the 114.00 may act again as resistance, but the price may also stay consolidated between that level and the 55 day EMA.

Thanks what’s your outlook for USDJPY next week? Are there risks that it will break support level?

The USDJPY is very sensitive to risk aversion and risk appetite. If things dont get better in regards to the trade war and geopolitical issues in Europe, the pair may continue dropping. Investors may continue flocking into the Yen, but the 112.00 level may act as support.

USD/JPY is technically bearish as seen on the four hour time frame. The pair spent the day hovering around the Friday’s close and below the 100-day and 200-day SMAs. Technicalindicators have stabilized with the stochastic holding near oversold readings and the RSI up from its lows but far into negative ground, indicating the absence of buying interest. The monthly low at 112.55 is the immediate support, with a break below the level opening doors for a steeper decline toward 111.80.

USD/JPY bulls have taken back control and the price is now much higher according to the daily lows. Technically, on the four hour time frame the price is below all of its moving averages. Technical indicators remains around oversold area, but lacking directional strength and leaning the risk to the downside. Currently the price is standing at around 112.80, the 20-day SMA and next bullish targets is seen at 112.95, which if broken will open doors for testing the psychological 113.00 level.

The short-term outlook for USD/JPY remains bullish, as the price has recovered above the directionless 200-day SMA and is developing below the 100-day SMA , which is heading north at around 113.35. Technical indicators on the four hour time frame have entered into positive area with the RSI advancing at 52 but the Momentum lacking directional strength. A firmer brake above the above mentioned 100-day SMA might bring additional gains, as long as the positive mood persists.

USD/JPY is trading between its 100-day and 200-day SMAs, with the shortest above the current level. Technical indicators on the four hour time frame turned to south within positive levels, but rather indicating the absence of buying interest than suggesting an upcoming decline. Little should be expected for today, although some risk headline could send it down to the 112.60 price zone, while to the upside, the main resistance is 113.35, with a bullish breakout of this last unlikely today.

USD/JPY came under a modest selling pressure today and slumped to its lowest level of the day at 112.71 and currently is trading at 112.74. First support is seen at 112.60, ahead of 112.15 and 111.60. The upside offers resistances at 113.00 ,113.40 and 113.70.

USD/JPY is trading at daily highs :face_with_raised_eyebrow:

During the the majority of the day USD/JPY was trading within a relatively tight range around 113.20,but in the last hour the pair rose to its highest level in 10 days at 113.43., breaking above both the 50-day and 200-day SMAs. In addition Momentum is positive and the pair is trading alongside an uptrend channel. The 113.75 level holds USD/JPY down since mid-November and is a substantial resistance. The downside offers 113.00 level as support line and also holds the pair down since earlier November.

USD/JPY is consolidating around one-and-a-half week tops, above mid-113.00s. The pair lacked any firm directional bias and seesawed between tepid gains and minor losses.