USD/JPY
Levels to watch for:
Support: 106.06; 105.54;
Resistance: 107.20; 107.91;
USD/JPY bounced from the daily low at 106.05 but the short term outlook remains bearish. The indicators on H4 are heading south and in case of renewed selling interest under 106.00, the pair would be poised to extend its decline towards 105.25.
Any upcoming news we can expect to put high impact on this pair?
Focus turns to FOMC meeting this week.
USD/JPY has recovered from the lows and today is trading slightly above 106.00. However the pair ramains range bounded until Wednesday when high impact is expected on Fed’s rate hike.
USD/JPY extended its slide towards the downside after the Fed’s rate hake. The par is preparing to visit the 105.45 support which is broken to below, doors are opened for testing 105.25.
USDJPY probably have entered a new downward phase without a clear support for up to 101.20, said Kengo Suzuki, a currency strategist at Mizuho Securities in Tokyo. Possible actions By the Bank of Japan and the Ministry of Finance are now in the spotlight of speculators, as the fall of the dollar below 105 yen may affect Japanese corporate income and Japanese stock prices. There is no clear support in USDJPY until 101.20, the minimum level reached after Trump was elected as President of the United States in November 2016; minor support can be seen at the level of 103.66, where the 76.4% Fibonacci retracement is - of the movement from the low hit in June 2016 up to a maximum of December 2016. The decline may accelerate as the market starts to react to US tariffs and duties as well as China’s response to them, the outbreak of a full-scale trade war. It is necessary to monitor how China will react to the introduction of US steel and aluminum tariffs; it is also necessary to monitor how the EU will react to steel and aluminum tariffs.
https://www.youtube.com/watch?v=1hfN-5670S8
USD/JPY finally quit the latest range and now is showing bearish signs. Although the pair recovered from the dialy low at 104.63, indicators on H4 are supporting further decline.
Seems to me like the Yen will appreciate during the trade war.
Resistance 105,50 , support 103,70 
I agree, the risk remains on the downside.
USD/JPY is consolidating around 150.65. Immediate resistance is seen at 105.80, while the downside is supported by 105.55.
I’m expecting the consolidation continues below 107 level until next week macro releases and NFP.
Interesting to see how the NFP impacts the pair.
USD/JPY closed higher, but however bull should defend the 106.00 area. Immediate resistance is seen at 106.60 and the downside remains supported by 105.40.
USD/JPY is trading flat around 107.30 today ahead of NFP. The pair is facing now resustance at 107.67 while the downside is supported by 106.90.
The USD/JPY pair struggled to build on its intraday rebound from the 107.00 handle and was now seen oscillating in a range just below mid-107.00s, over 1-month tops.
The pair failed to capitalize on the Asian session uptick and was now being capped by bearish trading sentiment around European equity markets, which underpinned the Japanese Yen’s safe-haven appeal.
The risk-off mood, further reinforced by the ongoing slide in the US Treasury bond yields, partly offset a strong follow-through US Dollar buying interest and was seen as one of the key factors keeping a lid on any additional up-move.
Heading into today’s key event risk - the release of US monthly jobs data, investors’ reluctance to place any aggressive bets further collaborated to the pair’s range-bound/subdued price action during the early European session.
Apart from the keenly watched NFP report, the Fed Chair Jerome Powell’s scheduled speech would be scrutinized for clues over the central bank’s near-term monetary policy outlook and might also provide some meaningful impetus on the last trading day of the week.
USD advanced to the JPY and is now above the 50SMA.
Elliott Wave Analysis: Further Strength in USDJPY
USDJPY short term Elliott Wave view suggests that the decline to 104.54 low on March 26 ended Intermediate wave (3). Wave (4) correction is in progress as a double three Elliott Wave Structure. A double three is a 7 swing corrective structure with WXY label. In the case of USDJPY, minor wave W of (4) ended at 107.01 and minor wave X of (4) ended at 105.62. As near term pullback stays above there, expect pair to extend higher within wave Y of (4).
Subdivision of Minor wave W of (4) in USDJPY unfolded as a zigzag Elliott Wave structure where Minute wave ((a)) ended at 105.9, Minute wave ((b)) ended at 105.29, and Minute wave (©) of W ended at 107.01. Subdivision of Minor wave X of (4) also unfolded as a zigzag Elliott Wave structure where Minute wave ((a)) ended at 106.09, Minute wave ((b)) ended at 106.45, and Minute wave (©) of X ended at 105.62.
Minor wave Y of (4) is currently in progress as a double three Elliott Wave structure where the rally from 105.62 ended at 107.49 in Minute wave ((w)). Expect pair to pullback within Minute wave ((x)) in 3, 7, or 11 swing to correct cycle from 4/3 low before the rally resumes.
USDJPY Elliott Wave 1 Hour Chart
The US dollar recorded a modest decline against the Japanese yen on Monday. The session started at 106.93 and the dollar lost only 18 pips. The recent upward movement is impetuous but USD/JPY continues to find support from the 20-year moving average. Levels at 107.70 remain the primary objective.