The dollar lost ground against the yen on Tuesday. The US currency did not respond to positive expectations and continued downward trend since late last week. The pair broke the key level at 113.06 and tested the support at 112.44. The trading started calmly at a price of 114.17, but the early morning bearish sentiment prevailed. The decline of the dollar continued throughout the session, as the bottom was hit at 112.59, and the session was closed 2 pips higher.
USD/JPY
Key levels to watch for:
Support: 113.06; 112.44;
Resistance: 116.13; 116.84;
Dollar/yen made up rally yesterday after the speech of Janet Yellen, topped at 114.75. As can be seen, the price tested the level 114.60. A clear break above it can cause upward movement testing 115.50 - 116.00. Immediate support is seen near 113.80/50. A clear break below that area could reactivate the downward phase of setting up a double top around 118.60. On the downside, the first target of the bears will be 112.00 - 111.30.
BofA: Trump doesn’t want to see strengthening of the dollar. Risk-return on long positions in US dollars will decrease with increasing volatility after the inauguration of Donald Trump on Friday, analysts from BofA say.
They do not doubt that Trump doesen’t want to see strengthening of the dollar, thus they do not expect a more hawkish tone in the leadership of the Federal Reserve.
Analysts emphasize again that the two main political pillars of Trump are contravercial - fiscal policy requires a strengthening of the dollar, but trade policy requires a weaker dollar.
The US dollar experienced a significant decline against the yen on Monday. After a volatile session, the dollar lost 154 pips at a closing price of 112.69. Price managed to break through the first support at 114.00, while the daily extremes were reached respectively at 114.42 and 112.68. The outlook in the short term remains neutral and levels at 114.00 and 111.00 - key for the subsequent performance.
USD/JPY
Key levels to watch for:
Support: 111.00;
Resistance: 114.00; 116.45; 118.30.
The dollar fell against the yen on Tuesday, as the Japanese currency was in demand due to the status of safe investment, while risk appetite has deteriorated against the backdrop of perseverance US president Donald Trump of his ban on the entry of migrants. By 6.22 GMT the dollar slipped by 0.3 percent to 113.42 yen.
The dollar lost significant ground against the yen on Monday. The US currency broke a two-day winning series and returned to the levels of early last week. Key values were drilled, but short-term expectations remain in favor of the dollar. In this case the support at 112.44 is threatened. The session started at 114.70, and the final was 94 pips higher. The trend has bearish character all the time, bottom of the day was struck at 113.45.
USD/JPY
Key levels to watch for:
Support: 112.44; 111.56;
Resistance: 116.13; 116,84.
Dollar/yen made downward momentum yesterday, bottomed at 113.23 during the Asian session today. Short-term expectations are neutral, but as long as price remains below 115.60 I still prefer a bearish scenario at this phase with targets near 111.30. Immediate support is 113.50 whose breakthrough could lead to further pressure testing 112.50 or lower. On the upside, first resistance at 114.25 whose breakthrough could lead price to neutral zone testing 115.00/60.
Dollar/yen failed to continue its downward movement yesterday, topped at 112.57. The bias is neutral, but overall still prefer a bearish scenario with the closest target near 111.30. Immediate resistance at 113.00. A clear break and daily close above this level could trigger upward pressure on testing 114.00 but any upside pullback should be seen as an opportunity for sales. First support is 112.00 whose breakthrough could lead to further bearish pressure testing 111.30.
The dollar quickly changed its place with the yen and the recorded 45 pips on its account. The beginning of the trading session was with the opening price 112.37. The momentum of the yen the previous day helped reaching the daily high of 112.54 in the early hours of the day. The support level of 111.98 was pierced by bears and they took their bottom level at 111.62. The day ended with a break for the second time on the same support, at a price of 111.92.
USD/JPY
Key levels to watch for:
Support: 111.20; 109.63;
Resistance: 111.98; 114.05; 115.64.
Following last week bullish performance, UJ upward potential remains after testing 114.00 level, the pair settled just below the level.
USD/JPY
Key levels to watch for:
Support: 111.00;
Resistance: 114.00; 116.45; 118.30.
The US dollar was down against the Japanese Yen on Friday. By the closing of the American session USD/JPY was trading at 112.84, shedding 0.36%. I believe that the support is now located at the level of 112.62, the low of Friday’s trading, and resistance is likely at the level of 114.97 - the maximum of Wednesday.
In near term, due to increasing political risks, USD/JPY may drop to 111.00, followed by 110.00.
Despite strong dollar, Usd/Jpy continue trading sideways in a narrow range, the pair is lack of strength to confirm further bearish trend.
Dollar/yen had a bullish momentum earlier today, hitting 113.70. Trade signals are up for testing 114.00/30 in the near future. But overall I still prefer a bearish scenario at this phase and any upward pressure should be seen as a good opportunity to short positions. The nearest support is at 113.35. A clear break below that area could lead price to neutral trading zone testing 112.65.
The dollar recorded a second consecutive loss against the yen on Thursday. The US currency continued the negative trend from the previous session and reached the lowest level for this week. However, the pair is trading above support at 115.56. The launch on Thursday was given at a price of 113.29 by early trend was neutral. Around noon bearish sentiment prevailed and currencies hit bottom at 112.54. The finale was put 6 pips higher.