USD/JPY Today for Newbies need confirmation

USD/JPY
Key levels to watch for:
Support: 105.40; 103.25; 101.40;
Resistance: 107.70; 109.90;

USD/JPY moved higher today but yet remains capped by last week’s high. Bulls would hardly march towards 107.50 given the neutral indicators on the four hour time frame.

USD/JPY is close to double top at 107.90.

USD/JPY retreated from the fresh 7-week high as US stocks turned negative. The pair is nearing the 107.30 and this might bring it back into the range of the previous sessions between 107.40 and 106.60.

USD/JPY turned to bearish mode today and dropped to 107.05. On the four hour time frame the price is developing above its flat 100-day and 200-day SMAs while stochastic is showing storng bearish momentum. The pair is reparing to test 106.90 wich if broken to below 106.60 will be the next target for the bears.

The USD is moving up strongly against the Yen. First res 107.70.

The USD/JPY pair pushed higher today and marked intraday high at 107.52.Currently the pair is trading around 107.40 but despite the gravitation above 107.00, the pair remains in a steady consolidative phase .

The week starts with a bullish gap.

Good and stable uptrend. Major support at 112.

USD/JPY rallied today towards the amazing 108.75. Which is more important is that the pair conquered very significant resistance levels. Indicators on H4 support further advance and next bullish target is seen at 109.00.

USD/JPY retreated from its highest since February level and currently is gravitating around 109.00. I expect further declines towards the support at 108.65.

Expecting the pair to lose some of the gains made this week.

The pair’s direction will depend a lot on economic data this week, including nonfarm payrolls while consolidation seems continue.

USD/JPY started the new week trading within tight range above 109.00. It seems that the pair is awaiting Fed to set direction.

The greenback continues to fall and soon USD/JPY will meet again the 109.00 handle. Technical structure suggests further declines, but let’s see what NFP will bring.

Usd/Jpy is consolidating between 109.29 to 1 ou08.63 short term, but long term the pair still appear to be bullish. Break out of the range on the downside could signal a deeper pullback.

USD/JPY regained the 109.00 handle and is showing good upward momentum. It seems that bulls will soon test 109.50.

The USD/JPY is at important level which is 110.00. The price action indicates the pair can break up the trend line 1.

The pair also forms an symmetrical triangle, so the pair may break up or down in next week.

The fundamental analysis of US is looking good next week while JPY is looking a little bit weak.

If the price breaks up the trend line 1, the pair has a high probability to go up to previous TOP = 115.00.

Otherwise, if the pair break down trend line 2, the bears trend may resume to the previous low 104.00.

In either ways, we can make money.

USD/JPY is pushing to the downside. The pair broke the support at 109.30 and is coming down to test 109.00 very soon.

Strong res in the area around 110.30. 200SMA needs to be broken to the upside.