USD/JPY rises to 112.70 An absence of any significant news in first half of the previous trading session expectedly led to a rebound from support zone located near the 112.10 mark. But then reports about agreement reached on tax reform by the House and Senate caused a spike up to the 112.70 mark. As further path to the north is obstructed by the falling 100- and...
USD/JPY fails to bypass 113.68 Most of the previous trading session the currency rate spent moving towards the 23.6% Fibonacci retracement level located at 114.03. Nevertheless, this target was not achieved due to resistance area formed near the 113.70 mark. As for today, a minor retreat back to 113.20 is possible. However, the Yen unlikely to gain much value...
USD/JPY falls from rising wedge by 1.22% An announcement made by General Flynn that led to rapid sell-off of the buck against all major currencies perfectly matched with a breaking point of a readjusted rising wedge formation. Fortunately, bulls managed to create support near the 111.80 mark that was surrounded by the 100- and 200-hour SMAs as well as the...
USD/JPY prepares to test support at 111.20 In line with expectations, by the end of the previous trading session the currency rate has reached the upper boundary of a currently active descending channel. As this barrier was additionally backed up by the 38.2% Fibonacci retracement level as well as the falling 100-hour SMA, the pair was forced to rebound. During...
USD/JPY slips to monthly S1 at 112.04 Contrary to trade patterns theory, the currency rate did not make a breakout from the falling wedge formation to the north. Moreover, the safe haven Yen was quoted higher despite release of disappointing trade data. For this reason, the fall of the rate was most likely based on worries about vote for the new tax reform and...
USD/JPY moves to south as expected As it was expected, the currency exchange managed to break below both the psychological 113.00 level as well as the weekly S1 located at 112.86. A release of better than expected American retail sales and inflation data did not ruin this achievement. In contrast, it simply accelerated a rebound from the bottom trend-line of...
USD/JPY trades in descending channel During previous trading session the currency exchange rate expectedly approached and made a rebound from the upper-boundary of the current descending channel. As a result, now the pair is expected to continue moving to the bottom. This direction is also supported by the fact that the 55- and 100-hour SMAs are located above...
USD/JPY approaches 113.80 New trading week the currency rate stared in a limbo between the 200-hour SMA from the bottom and a combination of the weekly PP, the 55- and 100-hour SMAs from the top. Such neutral movement reflects anticipation of the Bank of Japan Policy Rate announcement. But since there is high probability that the central bank will left the...
Morning outlook - USD/JPY fails to surge above 114.20 Although the currency exchange rate was fluctuating in an ascending triangle, releases of better than expected American data forced the pair to stop testing the weekly R1 at 114.19 and make a breakout in the southern direction. As the rate has already passed through the 55- and 100-hour SMAs, it is expected...
The Yen grew up and totally absorbed the previous fall of the price, which is a good bullish signal. Moreover, the growth of the price was on increased volume, so now we should give preference to long positions. We can enter the market after the resumption of the upward move supported by increased/large volume. This will be a sign for the continuation of the...
Morning outlook - USD/JPY trades near 111.88 In accordance with expectations, the currency exchange rate continued to move to the south within one-week long descending channel. The further deprecation of the buck was supported not only by the pressure of 55-, 100- and 200-hour SMAs that were moving along the pattern’s upper boundary, but also by the increased...
The pair finally has broken down the lower boundary of the consolidation and is trading below it. The move was sharp and supported by large volume, which is a good bearish signal, but we should note that volume was concentrated at the bottom of the fall and the new support level was created. It is 111.73 - 111.86. So we can open short positions after a sure...
Morning outlook - USD/JPY fails to break above 111.26 two times In line with expectations, until a release of data on the US Retail Sales the currency pair spent in an upward movement. In the process, it made two attempts to break above the monthly R1 at 111.26 but both of them failed. Due to pressure from the approaching 55- and 100-hour SMAs as well as...
Hello Traders, Weekly Chart Scenario 1: (Normal conditions) > Price exactly at .618 > On 4H we have a nice buy setup. Scenario 2: (Risk conditions) > Hurricane Irma, N.Korea tension. > It may reach 0.786 level in worst case. > Wait until weekly candle shows bullish momentum. I rely on both technical and fundamental analysis and use my strategy to trade, you...
Morning outlook - USD/JPY slips on fears of Kim Jong-un Over the last couple of weeks, movement of the USD/JPY currency pair was strongly affected by news coming from the Korean peninsula. The same thing happened today as well. In result of a successful test of a hydrogen bomb, the Yen started to actively recover against the Greenback. These growing...
Morning outlook - USD/JPY falls as North Korean crisis escalates In result of a new ballistic missile test conducted by North Korea, the American Dollar lost 0.57% against the Japanese Yen just in two hours. Accordingly, in the first half of Tuesday the buck is expected to try to recover some of the lost value. However, even if it succeeds to break...
Our preference: position bought above 113.20 with targets at 113.70 & 114.00 in extension. Alternative scenario: in break of 113,20, a continuation of the drop will be envisageable with 112,80 & 112,40 in line of sight. Comment: the 113,20 passing is a positive signal that opened the way to the 113,70.