The US dollar was up against the Japanese yen on Friday. By the close of US trading, USD / JPY was trading at 112.50, adding 0.18%. I believe that the support is now located at around 111.47, Monday’s low, and resistance is likely at 113.27 - the maximum of Wednesday.
The pair remains strong upward momentum, resistance level can be found at 113 handle and follow by 113.25/30 zone.
I agree. Also, I don’t think the renewal of the upward trend will be confirmed before a breakout above 113.30.
On Monday, the currency pair dollar/yen recorded a volatile session. The day was opened at 112.62, and at the end of the day the pair reached 112.75. The rate repeatedly resisted the resistance at 112.90, but failed to establish itself above it. This brought a peak for the bulls at 113.05, and the bears only reached the bottom at 112.44.
USD/JPY
Support: 111.00; 110.20; 108.80;
Resistance: 112.90; 114.30;
Thursday was fourth consecutive volatile day for the dollar-yen currency pair. The day brought 7 pips to the US dollar assets. Its start was set at 112.74 and its end came at 112.81. During the day the bulls broke the first resistance to record a peak at 112.91 and the bears took their bottom at 112.41.
The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD / JPY was trading at 112.62, losing 0.17%. I believe that support is now at around 112.33, Wednesday’s low, and the resistance is at 113.44, the maximum of Friday’s trading.
Usd/Jpy short term ranging between 112 to 113 level, after the pair turn negative on North Korea missile test.
The dollar recorded a volatile session against the yen on Tuesday. Ultimately, the final was put in favor of the Asian currency. Trading started at a rate of 112.67, with early bearish mood dominating. As a result, the two supports at 112.30 and 112.12 were punctured after the pair hit bottom at 111.98. The dollar then recovered some of the losses.
Key levels to watch for:
Support: 112.30; 112.12;
Resistance: 113.47; 113.84;
The dollar / yen tried to lower yesterday, forming a bottom at 111.98, but closed slightly higher at 112.44. The signals are neutral so far, but the price is still in the bears phase after the downward pin bar formation at the key resistance of 113.20. Immediate support is seen at 111.65. A clear breakthrough and daily closure below this level will open the doors to 111.00 - 110.65.
The USD/JPY is trying to exit from the narrow range ahead of FOMC Minutes. Bears took the lead at the moment.
The dollar / yen did not make a substantial move yesterday. There is no change in my technical predictions. Expectations remain neutral in the short term, but the price is still in the downstream phase after the formation of the bearish pin bar at the key resistance 113.20. Support for the day we have at 111.65. A clear breakthrough and daily closure below it will clear the way down to 111.00 - 110.65. Generally I remain neutral.
USD/JPY is relatively bearish and the resistance at 113.40 is still holding. I think that if it falls below 112.00 it will continue depreciating at least to 111.20 - 111.00.
Usd/Jpy has just recovered 112 level, I believe the risk remains on the upside.
The pair is at 111.70, for the moment it remains very bearish. I think it will break out below that level soon and keep falling to 111.00 or even to 110.40.
The US dollar recorded a decline against the Japanese yen on Friday. The currency pair opened at 112.27 and the dollar lost 40 pips. Graphics continued to grow below moving averages, while the relative strength index remained neutral. If the bearish mood continues, we can expect a first support test at 110.90.
Key levels to watch for:
Support: 110.90; 110.20; 108.80;
Resistance: 112.90; 114.30;
The dollar / yen had a bearish momentum last week, reaching a bottom of 111.68 after a fake breakthrough over key resistance 113.20 and the emergence of a bearish pin bar. The views are down to testing 111.65. Clear break below this level will open doors to support 111.00 - 110.65. Intraday resistance is at 112.35. A clear breakthrough over it could take the price to a neutral zone, but only a clear break above 113.20 will halt the current short-term downside outlook.
111.70 proved to be a very strong support and USD/JPY rebounded from it. The pair remains bullish for the moment and I think it will reach 113.00 soon.