The USD/JPY pair fell below 111.00 handle and marked its lowest level since the last day of August at 110.70 amid weak risk appetite. The pair has lost upward strength and technical readings on the four hour time frame are showing that it may extend its decline during the upcoming hours. RSI and stochastic are aiming south and are nearing the negative territory. Support levels: 111.20, 110.85, 110.40. Resistance levels: 111.50, 111.80, 112.15.
USD/JPY recovered today but bulls stalled at 111.07, where currently the pair is located. A persistent upward potential might push bulls towards next resistance area around 111.30.
At the beginning of the week teh USD/JPY pair is ranging around 111.00 figure, as the demand for safe-haven assets moderated. Technically the pair is showing neutral stance on the four hour time frame. The price is developing back and forth around horizontal and parallel 100-day and 200-day SMAs. RSI and stochastic started to recover but still are nortnot showing goodupward strength. Strong resistance area is located around 111.40 - 111.50 and in case bulls fight it, the pair might gain some upward traction. The downside is supported by the 110.85 level which if broken to below, would open doors for testing 110.40.
The USD/JPY pair is moving back and forth alongside with equities but is going to close the day around the 111.60 region. The current advance might continue as the bulls keep pressuring the highs and advanced above the 100-day and 200-day SMAs, both staying flat around 111.05 ont he four hour time frame. Ont he same chart stochastic reached overbought area, but the RSI is extending its advance slowly and currently is located at 65, which support additional gains. The pair now is facing immediate resistance around 111.80 price area, ahead of 112.14 (the August high).
The USD/JPY pair slumped today to 111.12 before retracing part of its losses and at the moment is trading around 111.25. Technically speaking the short term outlook remains bearish. On the four hour time frame the price is developing above its 100-day and 200-day SMAs, both converging within a tight 10 pips range. RSI and stochastic turned sharply lower and are supporting additional declines ahead. Immediate support is offered by the 110.90 level, which if broken will open doors for a steeper decline toward the 110.20 – 110.30 area.
After marking its highest level in more than a month at 112.16, the USD/JPYpair eased down as the latest trade headlines weighed on the market sentiment and supported the Japanese Yen. On the four hour time frame the price is developing well above its 100-day and 200-day SMAs both showing good upward traction. RSI and stochastic keep retreating from their overbought readings, but still remain situated into the positive territory. This situation is showing the limits of the downside potential, at least as it holds above the 111.40 – 111.50 area, the former resistance. A break through 112.15 should lead to a steeper advance which can extend up to 113.17, the July’s high.
USD/JPY pushed higher today and spent whole day hovering around the 112.00 hurdle. The momentum beyond this level is likely to be extended towards 112.60, where is located the first resistance before eventually bulls set next target at 113.00.
USD/JPY gained good traction in the last hours today and marked its highest level since July 20 at 112.38 before retreating slightly. As of writing, the pair is trading at 112.35 and technical indicators on the hour hour time frame are supporting the upward strength. Next bullish target is seen around 112.50 -122.60 area.
USD/JPY is trading flat around 112.30 and is having difficulties to set its next short-term direction today. The pair is confined withing tight range since breaking the August high. On the four hour time frame the indicators have turned horizontal and are showing lack of directional strength, but yet remain within positive territory. The price is developing well above its moving averages, with the 100 SMA now some 100 pips below the current level, but all of them are aiming north. Should the bulls manage to extend its march, the next relevant target is seen at 113.17 (the July’s high).
USD/JPY gained traction today and touched a fresh two-month high at 112.58. The pair moved into consolidation phase and currently is trading at 112.48. which is up with 0.2% for the day. Technically spekaing the short term outlook remains neutral to bullish stance, as ont he four hour time frame the price is developing well above its bullish moving averages. RSI is consolidationg around 60, while stochastic is showing strong bullish momentum. The 112.10 are comes as immediate support and resistances are seen at 112.50, 112.90 and 113.20.
USD/JPY is strading around 112.60 and a downward correction is expected in case of breaking this level. On the four hour time frame the price remains well above its bullish 100-day and 200-day SMAs, while technical indicators are losing directional strength, but yet remain well above their mid-lines and this is suggesting limited selling interest.
USD/JPY keeps the positive tone above mid 112s. On the four hour time frame the price is developing well above its bullish moving averages. Stochastic extends its bounce from its mid-line, heading higher, while RSI has lost directional strength around 60 level. at around last week’s high. The pair, however, would need to clear 112.85. First support is seen at 112.45, next at 112.15 and lower at 111.80. Resistances levels are 112.85, 113.20 and 113.50.
USD/JPY marked today a fresh 2-month high of 112.97 and according to indicators ont he four hour time frame seems ready to challenge July’s high at 113.17.
USD/JPY is fighting with the 113.00 handle ahead of FOMC decision. On the four hour time frame indicators are starting to gain negative traction, albeit the price reamins above its bullish moving averages.
What typically happens to this pair during FOMC news? I already pulled out of my trade from this morning
USD/JPY jumped to 8-month highs today and reached 113.46. The pair is now holding around its daily high and the situation is suggesting that buyers are willing to keep pushing it higher. Strong static resistance is offered by the 113.90 level, as the pair topped right below the level several times by the end of 2017. The four hour time frame is showing possible another leg higher, as indicators extended their advances within positive territory,with the stochastic nears overbought readings, RSI staying flat around 70 level and the pair is developing far beyond its bullish moving averages.
USD/JPY pushed above 113.50 today as the major equity indexes in the U.S. started to erase the early losses they suffered. The short-term outlook remains bullish, as ont he foru hour time frame the price is consolidating at its recent highs and meanwhile well above bullish 100 and 200 SMA. Indicators have partially corrected overbought conditions but are trying to resume their advances nearby, indicating that buying interest remains strong. Support levels are seen at 113.20, 112.80 and 112.45. Resistance levels are: 113.85, 114.10 and 114.40.
USD/JPY is hovering around 114.00 after had marked yearly high at 114.04. The soft Japanese data, better market mood and the trade deal beatween USA, Canada, and Mexico agreed on a trade deal supported the bullish momentum. Ttechnically speaking the is overbought in the short-term and there are no signs that might turn lower. It looks like consolidation is ahead before a new leg to the upside. Indicators ont he four hour time frame are located within overbought territory and the price is developing above its bullish moving averages. Immediate support is seen at 113.60 and as long as the pair holds above it, bulls will attempt to fight the 114.40 level.
USD/JPY failed to extend gains above the 114.00 level today and currently is suffering some modest losses around 113.77. Looking to the upside, a potential decisive break above 114 (daily high), will bring next bullish target at 114.70, followed by 115.00 (the psychological level). The downside offers supports at 113.60 (the daily low), 112.55 and 111.60.
USD/JPY moved out from the consolidation phase and extened its positive momentum further beyond the 114.00 mark. Currently the pair is trading around 114.40 and retains good bullish stance. I expect test of the resistance at 114.75.