USD/JPY Today for Newbies need confirmation

USD/JPY
Key levels to watch for:
Support: 111.56; 110.93;
Resistance: 114.95; 115.60.

The US dollar was down against the Japanese Yen on Friday. By the close of US trading USD/JPY шаs trading at 112.16, shedding by 0.40%. I believe that the support is now located at the level of 111.94, the low of Friday’s trading, and resistance is likely at the level of 113.78 - the maximum of Tuesday.

Usd/Jpy remain bearish, break support level at 111.90 might lead to further decline.

The dollar changed unsignificantly near a seven-week high against other major currencies. Traders are taking profits after the recent rise of the dollar. The dollar has a growing against the probability of a US interest rate hike this month.
Currency pair USD/JPY was down by 0.12% to 114.42.

Usd/Jpy is consolidating around 114.00 level while remains in the positive territory, but on the upside the pair seems limited at 114.75.

USD/JPY marked neutral session on Tuesday. The dollar added only 9 pips at a closing price of 113.97. Daily extreme values ​​were reached respectively at 113.72 and 114.14. Given the prevailing positive attitude in the short term to overcome the next level will be indicative of further growth.

USD/JPY
Key levels to watch for:
Support: 111.00;
Resistance: 114.00; 116.45; 118.30.

The British pound was up against the US dollar on Friday. By the close of US trading, GBP/USD was trading at 1.2170, gaining 0.04%. I believe that support is now at 1.2134, Thursday’s low, and resistance is likely at 1.2302, Monday’s high.

The dollar tumbled against the yen on Wednesday. The session starts relatively quietly at a price of 114.73. After the Fed’s statement, however, the price went down sharply and the pair hit bottom for the day at 113.17, breaking the first support at 113.53. If bearish sentiment continue to prevail, the pair will test the level at 112.54. The finale on Wednesday was put at 113.46.

USD/JPY
Key levels to watch for:
Support: 113.53; 112.54;
Resistance: 115.60; 116.74.

The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD / JPY is trading at 112.69, losing 0.55%. I believe that support is now at 112.56, the low of Friday’s trading, and the resistance is likely at 115.20 - Tuesday’s high.

I think that USD / JPY has found a new corridor between 114.50 and 112, and it will try to break lower sooner than to break above.

The pair consolidating lower indicating the likelihood of further decline towards 112.00 level.

For the sixth consecutive day the Japanese yen performs better than the US dollar. During the last session the dollar lost another 72 pips. Early the dollar was traded for 112.49 yen. The first hours the dollar was stronger and it recorded a peak level of 112.86, but later followed fairly sharp decline in the rate and bears broke first support at 112.00 to record bottom level of 111.53. The session closed at 111.77.

USD/JPY
Key levels to watch for:
Support: 111.20; 109.63;
Resistance: 112.00; 114.05; 115.64.

Dollar/yen had a bearish momentum yesterday, bottomed at 111.53 and hit 111.42 earlier this morning. The outlook remains bearish, but note that the zone 111.50/30 is key support and a good place for a long position with tight stop loss. Purchases around this area will give a better price and risk/return. Immediate resistance is 112.30/50, whose breakthrough could lead price to neutral zone for testing 113.00 or higher. On the downside, a clear break and daily close below 111.30 would reactivate the bearish pattern as part of the scenario of the double top (118.60).

The yen continues to surprise the dollar. For the seventh consecutive day the Japanese yen performs better than the greenback. During the last session the dollar lost another 52 pips from its account. Early in the morning one dollar traded for 111.78 yen, and within minutes there was registered daily high at 111.79 yen per dollar. There was a long and convincing decline and after breaking the first support level at 111.20, bears took its bottom at exchange rate of 110.73. Bulls found the strength to return the rate to the level of 111.26.

The pair remains vulnerable on the downside, further decline might be expected, my next target is at 109 level.

Usd/Jpy is showing short term momentum indicating a bit higher, on the downside 110.10/00 act as strong support zone.

The US dollar recorded a modest decline against the yen on Wednesday. The pair lost only 10 pips at a closing price of 111.03. The graphics continue to evolve under moving averages, while the index of relative strength remained on neutral territory. Keeping the current levels will contribute to positive attitudes.