USD/JPY Today for Newbies need confirmation

Key levels to watch for:
Support: 112.90; 110.90;
Resistance: 114.30; 115.40;

Interesting forecast! :slight_smile:

The dollar/yen continued its inertia up yesterday, reaching a peak of 114.34, but closed lower at 113.97 and hit 113.63 earlier today. The views remain down for testing at 113.20 as part of the scroll down pin scenario, as you can see on the daily chart. Clear break and daily closing below this level will open the doors to 112.25 - 111.65. The first resistance is at 114.00, but the key level remains 114.50, which is a good place for short positions with narrow stops to the loss.

USD/JPY dropped below 113.60 and I think this is the end of the range for the moment. I have shorted and my target is set at 113.00.

Usd/Jpy is sideway trading and showing no clear directional strength, immediate resistance can be seen at 114.00.

USD/JPY has almost reached 113.00 and I think that if it drops below that level it could continue depreciating to 112.00 or even to 111.65.

The dollar recorded a dynamic session against the yen on Friday. Ultimately, the pair remained at the end of last week, but short-term expectations are in favor of the dollar. The start on Monday was at a rate of 113.45 and the closing price was 16 pips higher. The trend was volatile, with the difference between the highest and lowest values ​​for the day being 47 pips. Meanwhile, the first resistance at 113.68 was slammed for a short time while the first trading hours.

Key levels to watch for:
Support: 112.93; 112.28;
Resistance: 113.68; 114.49;

USD/JPY rebounded from 112.47 but I don’t think the correction to the downside has ended. A further drop to 111.70 is still possible.

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.