USD/JPY Rises to 88.60

The Dollar moved away from the lows of the day against the Yen and rose to 88.60, recovering from 88.26, fresh 7-week low. The Yen also moved away from the highs of the day against European currencies as the downside rally in Wall Street paused. Read more…

The Daily Forecaster: USDJPY

The 88.76 target was met with 3 pips variance. The resistance at 89.50 is critical and while it holds there is probably a stronger risk that we’ll see 88.33 first. Watch for a bullish trade set up there as this should trigger a deeper pullback. Only an earlier break above… Read more….

GBPJPY analysis – inside bar on daily??

daily chart – 11.30 am An inside bar on daily chart indicates that the market is currently in uncertainty. Neither bulls nor bears are in control. That also means that today is a NO TRADE day. =)) Will come back tomorrow… Till then, cheers … :-h UPDATE: 3.15 pm – congrats to those who get [...]

Risk appetite and general sentiment improves – EURUSD pushes higher.

Risk appetite improved throughout yesterday, pushing EURUSD higher. Overnight EURUSD traded in the range 1.2955-1.3048 booking a 0.6% gain and USDJPY was range-bound between 89.33 and 89.68 – down by 0.1%. The dollar was weaker on a whole, declining against 7 of the 10 most traded currencies. The general improvement in sentiment had been building [...]

GBPJPY analysis – waiting for confirmation…

h1 chart 11.45 pm Malaysia A engulfing bearish candle has formed on the daily chart. Meanwhile, the hourly chart shows the retracement is not over yet. Downwards trend should continue once the 126.00 level is broken…. Read more….

GBPJPY analysis – 126.69 next??

chart h1 – 8.00 am Malaysia Looks like the bears are gaining control on the beast. Should the price breaks the lower trendline, 1st target projection is Friday low (126.69). UPDATE: 4.00 pm – Frankfurt market pulled the price down to 127.63 the lower trendline is now pierced. [-o< 4.51 pm - Friday's low hit [...]

chart h1 – 8.00 am Malaysia Looks like the bears are gaining control on the beast. Should the price breaks the lower trendline, 1st target projection is Friday low (126.69). Read more….

GBPJPY analysis – next week Feb 2nd outlook

h4 chart at market closing Price is currently already above the the daily upper trendline; which is drawn from Sept 24th to Jan 7th. Now it is testing the 130.00 resistance zone and could either break it or rebound from the it. However, the trend reversal, if any, should only be confirmed if the price [...]

GBPJPY analysis – dragonfly at daily??

daily chart – as of 11.30 am Malaysia A dragonfly candle has appeared on the daily chart. Should yesterday’s low (126.49) is broken, this might signify a beginning of downwards move. As I was away from chart this morning, I entered my sell position a little bit late. However, my position is currently at +50. [...]

GBPJPY analysis – British Pound Dominates Against the Majors on Massive Retracement – Can This Continue?

The British pound was the strongest of all the majors not only on Friday, but during the entire week, as the currency trades in a highly speculative manner. Indeed, over the past 5 days, the British pound has rallied 8.6 percent against the New Zealand dollar and roughly 6.3 percent against the euro and Japanese [...]

JPY weaker during Asian session, German IFO and US Consumer confidence to be released

The yen weakened for a second day against the dollar and the euro as the tightness in risk proxies extended on the news from the weekend that the Japanese government is looking to offer public funds to non financial firms. We saw the EUR rallied more than 100 pips from its low. The yen declined [...]

USD/JPY: Keeping Its Head Above Water Thanks to BoJ

There is a lot of talk this morning that the Bank of Japan is checking currency rates. The Japanese Yen has continued to rise over the past 24 hours and by checking rates, the central bank is keeping a very close eye on where the Yen is trading. Given that it is 11pm in Japan [...]

Forex Sentiment Forecasts further Japanese Yen and US Dollar Strength (Daily FX via Yahoo! Finance)

EURUSD – Euro Forecast Unclear on Indecisive Forex Positioning USDJPY – US Dollar Predicted to Lose Further Against Japanese Yen GBPUSD – British Pound Outlook Remains Bearish Against US Dollar USDCHF – Forex Sentiment Gives Little US Dollar/Swiss Franc Bias USDCAD – Canadian Dollar Forecast Unclear Against US Dollar Read more….