Key levels to watch for:
Support: 99.51; 98.96;
Resistance: 101.16; 102.65.
The dollar registered a neutral session against the yen on Thursday. The pair traded in a narrow range, the difference between the highest and lowest value for the day was only 32 pips. Trade was open by a rate of 100.43, and the finish line was crossed at a price of 100.53, if the positive momentum from Wednesday continues in future, the couple will overcome the resistance at 101.16.
The US dollar was down against the Japanese Yen on Friday. By the end of the trading session USD/JPY was traded at 100.45, shedding 0.08%.
I believe that support is now at around 99.91, Tuesday’s low, and resistance will be at the level of 100.94 - a maximum of Monday.
The US dollar was down against the Japanese Yen on Friday. By the close of Asian session USD/JPY was trading at 103.21, shedding 0.01%.
I believe that the support is now located at around 101.73, Tuesday’s low, and resistance is at the level of 104,00 - the maximum of Thursday.
USD/JPY
The pair broke a two-day positive series on Thursday after failing to overcome the psychological barrier at 104.00. The US dollar fell by about 20 pips to a closing price of 103.22 but managed to remain profitable since the beginning of the week. The bottom of the session was reached at 103.05. The price remains above the rising moving averages, but RSI lost positions, putting the Bulls to the test.
Key levels to watch for:
Support: 103.05; 101.65; 100.80;
Resistance: 103.95; 105.30; 107.90.
Dollar/yen continued downward momentum yesterday, bottomed at 101.92 and hitting 101.18 earlier today. Commercial bias remains bearish for test of 100.70 as part of the bearish scenario of false breakout (above 104.00). A clear break and daily close below 100.70 could trigger further downside pressure for testing 99.50. Immediate resistance is at 102.00. A clear break above that area could lead price to neutral trading zone but overall I remain in the camp of bears.
The US dollar registered a decline against the yen on Tuesday. The session started at 103.40 and finished 140 pips lower. The pair bounced off the resistance at 103.70 and managed to break the support at 102.57. Daily extreme values were reached respectively at 103.80 and 101.93. If prices continue to fall, the dollar will be directed towards support at 101.20.
Key levels to watch for:
Support: 101.20; 99.85;
Resistance: 102.57; 103.70; 104.10.
Merrill Lynch advises purchases of USD/JPY.
USD/JPY fell after the ISM index of business activity in the services sector replicate the success of the index in the manufacturing sector in the US, analysts say.
At the same time offers to buy about a hundred continue to act as support and attempts to restore of the pair wear sluggish nature and risk of breaking down seems considerable, the analyst added.
In this scenario, attention will shift towards 101.75/69 and 101, they concluded.
The US dollar was down against the Japanese Yen on Friday. By the end of the Asian session USD/JPY was trading at 102.25, shedding 0.22%. I believe that the support is now located at around 101.18, Wednesday’s low and resistance is at the level of 104.14 - a maximum of Monday.
The US dollar rose against the Japanese Yen on Friday. By the close of US trading USD/JPY was trading at 102.28, gaining 0.20%. I believe that the support is now located at around 101.40, Tuesday’s minimum, and resistance is likely at the level of 103.36 - the maximum of Wednesday.
USD/JPY
I can say with confidence that the defining for weeks trend will be Wednesday, when the decisions of the Central Bank of Japan and the US Federal Reserve on interest rates will come out and the corresponding comments on monetary policy in these countries. As for the graphical analysis, the H4 on he says that the couple will stay for some time within the boundaries of 101.70 - 103.25. After that, according to indicators on D1, the pair will drop to the support of 100.50, and repulsing by it, abruptly will go up - to the resistance of 104.30 and in case of breakthru, even higher - up to a height of 111.45.
USD/JPY
The pair maintain the downward direction for the third consecutive day on Wednesday amid statements from the Federal Reserve and Bank of Japan. The dollar has depreciated by nearly 140 pips to 100.30 to its lowest point in nearly a month. The high of the session was made at a level of 102.78. Current attitudes seem negative, putting psychological support at 100.05 as an immediate goal.
The US dollar rose against the Japanese Yen on Friday. By the close of US trading USD / JPY was trading at 100.97, gaining 0.22%. I believe that the support is now located at the level of 100.07, the low of Thursday, and resistance is at the level of 102.81 - the maximum of Wednesday.
The dollar lost gains against the other major currencies on Wednesday after the release of positive data on orders for durable goods in the US, while the markets are still focused on the long-awaited meeting of key oil producers.
USD/JPY rose by 0.17% to 100.58.
Dollar/yen had a bullish momentum earlier today in Asian session, hitting 101.63. The upwards scenario of double bottom is now confirmed with targets near 102.00/20. The outlook is bullish in nearest term. Initial support is at 100.80 whose breakthrough could lead price to neutral zone with re-testing 100.10 key support. In long-term the main downward scenario remains.
During today’s Asian trade, the US dollar is stable against the euro while the yen depreciates sharply against nearly all currencies - as the investors returned to risk appetite and invest in higher-yielding assets, writes MarketWatch.
The dollar against the yen jumped by 1% - from 100.69 to 101.63 yen.
Euro rose against the Japanese national currency by 1% - to 112.94 yen to 114.08 yen.
Weaker yen is due to the approaching end of the quarter and the increased activity of Japanese companies in the foreign exchange market before the closure of accountancy.
The US dollar recorded a modest rise against the yen on Wednesday. The pair added 27 pips at a closing price of 100.68. Daily extreme points were reached respectively at 100.25 and 100.81. Given the growing positive attitude, successfully overcoming the corresponding peak, followed by 101.20, will witness a new increase of USD/JPY.
USD/JPY:
Key levels to watch for:
Support: 99.85;
Resistance: 101.20; 102.57; 103.70.