USD/JPY Tests Daily Lows

USD/JPY moved away from 88.70 and fell to test daily lows around 88.35 after Moody’s put on review Spain’s Aaa rating. The pair is still moving in a narrow range between 88.70 and 88.35 but weakened after the Yen gained momentum across the board following the announcement and a decline in US stocks. Read more [...]

USD/JPY Surges After Days of Steady Decline

Technically speaking, today’s recovery is a welcome development considering the extent of the USD/JPY’s decline over the past week or so. In fact, the USD/JPY almost tested 88 before jolting back up above 89. However, downward pressure does remain on the currency pair since the BoJ and DPJ are still… Read more….

The Daily Forecaster: USDJPY

No break of 93.32 and a solid recovery back above 94.55. Be aware that having achieved this new high there is a strong risk of reversal lower at any time. However, while support at 94.12-18 remains intact I feel the immediate risk is higher back to 94.70 and after a… Read more….

USDJPY: Turns Off Channel Resistance

With an unsuccessful test of its channel resistance, USDJPY sold off sharply Thursday to close lower at 95.81. We retain our call for downside weakness while the pair maintains within its declining channel suggesting that weakness should shape up towards the 94.45 level, its Jun 01’09 low with a clearance… Read more….

Technical Analysis Daily: USD/JPY

Dollar/Yen made a downward movement on Thursday. The currency couple made a peak at 96.87, than dropped to 95.76 bottom, closing the day at 95.92. On the 1 hour chart is seen that the currency couple moves around a trend line from the end of last month, indicating an intense… Read more….

USD/JPY Continues to Drift Sideways

The USD/JPY continues to tease investors as it fails to follow through on its threats of a large pullback. We’ve seen rising volume to the upside followed by climbing volume to the downside, hence the relatively tight trading range. Despite being in the position drop towards our 1st tier uptrend… Read more….

USD/JPY Steps Back From its 2nd Tier Trend Lines

The USD/JPY is backing away from our 2nd tier uptrend line again as the Dollar appreciates across the board in reaction to China’s repeated call for a new global monetary standard. In the mean time, the USD/JPY remains the beacon for investor indecisiveness. While bears are tempted to test the… Read more….

USD/JPY Hovers between Trends

The USD/JPY made a positive recovery from Tuesday lows, though the small pop was backed by declining volume. Hence, there remains an increasing interest to the downside in the currency pair. The USD/JPY has climbed back above our important 2nd tier uptrend line, and is currently being squeezed between our… Read more….

USD/JPY Heads Towards its Psychological 95.00 level

The USD/JPY continues to head south from our 2nd tier uptrend line as the Yen participates in a broad depreciation of the Dollar. The Yen is also experiencing strength after Japan reported a higher than expected Trade Surplus, showing the Japanese export-reliant economy may be bottoming out. Japan’s economy is… Read more….

Technical Analysis Daily: USD/JPY

Dollar/Yen continued the decreasing movement yesterday. The currency couple climbed to the top 95.88, than dropped down to the bottom 94.90, and closed the day at 95.19. On the 1 hour chart is seen that the triangle formation was broken downwards as a support, suggesting potential descending views. Signals are… Read more….

USD/JPY Edges below our Heavily-Weighted 2nd Tier Uptrend Line

The USD/JPY is clawing back towards our 2nd tier uptrend line after dipping below for the 4th time in the past month. However, volume cooled to the downside and bulls came to the defense of the currency pair. Even though volume didn’t match the potential significance of the movement, this… Read more….

USDJPY: Outlook Continues To Point Lower.

Weakness continues to be seen in early trading today pushing the pair further lower and opening up threats towards the 94.45 level, its Jun 01’09 low though a potential hammer is now shaping up. A clearance of the 94.45 will leave the pair aiming at the 93.89 level, its May… Read more….

USD/JPY Balances after Positive Data

The USD/JPY has recovered nicely along our 2nd tier uptrend line while experiencing declining volume to the downside, both encouraging developments for the uptrend. However, the currency pair still feels the pressure from its medium-term downtrend, and is being squeezed between our 2nd tier uptrend and downtrend lines. Meanwhile, the… Read more….

Chart Of The Day: USD/JPY

Price action on USD/JPY, a 4-hour chart of which is shown, has reached up to bounce down off of a significant support/resistance level in the 97.15 price region. This level corresponds approximately with the key 50% Fibonacci retracement level of the recent descent from 98.56 to 95.50. Continued bearishness in… Read more….

USD/JPY: Dollar Drops to 96.70

The Dollar has gone down to the 96.70 support level after being rejected at the 97.10/25 area, giving away gains from the European session. Read more…

Technical Analysis Daily: USD/JPY

Dollar/Yen made an upward correction yesterday. On the 1 hour chart can be seen that the currency couple is now testing the 49.8% Fibonacci level of the of 98.50 – 95.60 movement at 97.15. Earlier this morning the quotes broke the 37.8% level in the region of 97.00. So far… Read more….

USD/JPY Breaks Above 96.00

USD/JPY has risen above the 96.00 level after the better-than-expected Philadelphia Fed Business Index, and the pair has posted 96.35 as a fresh intra-day high. The pair has risen 60 pips in the last two hours. Currently, the pair is trading positive after rising 0.30% so far today from the opening price to the current [...]

USD/JPY Drops to our 2nd Tier Uptrend Line

The USD/JPY finally yielded to our 3rd tier downtrend line after knocking on the door for several days. The currency pair proceeded to drop through our 3rd tier uptrend line without hesitation on rising volume. However, volume did not reach an abnormal level, and the USD/JPY is finding support once… Read more….

Usd/Jpy Bearish Structure, Dollar Index: Move Higher

Current usd/jpy prices are still searching for wave iii lows; the market did not reach our support line and Fibonacci extension levels, yet. Traders should be watching for a corrective wave iv as soon as wave iii completes. Any break through the lower support line in the further sessions will… Read more….

USDJPY: Maintaining Downside Bias Nearer Term

Having broken back into its broken falling channel and 200 daily ema , USDJPY continues to face downside weakness testing a low of 95.96 in early trading today. Further down, supports are located at the 94.45 level, its Jun’01’09 high with a turn below there allowing for further losses towards… Read more….

Next Page »