Author Topic: Daily Market Analysis from ForexMart: USD/JPY  (Read 5484 times)

Offline Andrea ForexMart

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Daily Market Analysis from ForexMart: USD/JPY
« on: March 31, 2016, 03:42:19 PM »
Technical Analysis for USD/JPY: March 31, 2016

The Japanese Yen expanded in today’s early trading as Fed chairwoman Janet Yellen’s dovish remarks on Tuesday prompted investors to sell their greenbacks. The currency pair hit a daily low of 112.25.

Yellen’s speech on Tuesday to the Economic Club of New York said that caution must be exercised in hiking interest rates, lessening the possibility of a rate increase during Fed’s upcoming meeting in April. However, Yellen is optimistic on the growth of the US economy.

The dollar experienced a rally in the past weeks due to other Fed officials’ hawkish statements that implied they are eyeing to raise the numbers.

The speculation of a rate increase is now expected in Fed’s next meeting in June.

Yellen’s announcement put the Bank of Japan (BOJ) in a more difficult position, which is battling stagnant deflation amidst strong currency. BOJ’s negative interest rates set in January did very little to help the situation.

Eyes are now on BOJ Governor Haruhiko Kuroda to see what monetary tools he will use to ease the problem. The BOJ may be forced to further lower the interest rates during its policy meeting in April.

The first support was at 111.82 and 111.26 subsequently. The first resistance was at 112.62 and 113.19 subsequently.

The MACD indicator is in a positive location. The price is falling.



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Daily Market Analysis from ForexMart: USD/JPY
« on: March 31, 2016, 03:42:19 PM »

Offline Andrea ForexMart

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Technical Analysis for USD/JPY: April 14, 2016
« Reply #1 on: April 14, 2016, 03:40:15 PM »
There were two reasons which caused the yen to put under pressure. Firstly, it was because it cannot withstand the development of Nikkei and the last thing is, its fall is an aftermath of the statement of Japanese Ministry which regards to the probable action launching that is intended to restrict the inflation of the national currency.

The first support occurs at 109.00 and at 108.20 subsequently. The first resistance resides at 109.80 and at 110.60 subsequently.

A confirmed and a sturdy sell signal has been found. The price is below the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen creates an ascending movement and the Kijun-sen forms a horizontal motion. The descending movement will remain until the price is below the Cloud.

The MACD indicator is in a negative location. The price is retrieving.



Offline Andrea ForexMart

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Technical Analysis for USD/JPY: April 26, 2016
« Reply #2 on: April 26, 2016, 05:43:42 PM »
On Monday, the dollar fell contrary to the yen, bidding goodbye to the three weeks of growth. The market was expecting for the Fed and BoJ meeting.

The first support occurs at 110.60 and at 109.60 subsequently. The first resistance lies at 111.40 and at 112.20 subsequently.

A confirmed and a sturdy buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chikou Span. The Tenkan-sen displays an ascending motion and the Kijun-sen forms a horizontal movement. The ascending movement will remain until the price is over the Cloud.

The MACD indicator is in a positive location. The price is correcting.



Offline Andrea ForexMart

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Technical Analysis for USD/JPY: May 3, 2016
« Reply #3 on: May 03, 2016, 05:46:17 PM »
The Manufacturing PMI of the USA for April heightened to 51.8. Many traders had looked forward for the index to lessen by 51 in opposition to 51.5 recorded in March. Meanwhile, the Manufacturing PMI of Japan surpass our expectations and grew by 48.2 contrary to the report of 48.0.

The first support occurs at 105.80 and at 105.00 subsequently. The first resistance lies at 106.60 and at 107.40 subsequently.

A confirmed and a sturdy sell signal has been found. The price is below the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen and the Kijun-sen form a horizontal motion. The descending movement will remain until the price is below the Cloud.

The MACD indicator is in a negative location. The price is correcting.



Offline Andrea ForexMart

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Technical Analysis for USD/JPY: May 12, 2016
« Reply #4 on: May 12, 2016, 05:44:25 PM »
The increase of risk appetite caused a positive effect on investor's sentiment. As a funding currency, the yen were pressured by the optimism showed by the leading stock exchanges. However, the US and Japanese government bonds yield differential had been decreasing for many consecutive trading days. The dollar/yen pair decreased by the end of the trades.

The first support occurs at 108.20 and at 107.40 subsequently. The first resistance stands at 109.00 and at 109.80 subsequently.

The price is in the Ichimoku Cloud and it is over the Chikou Span. The Tenkan-sen displays a descending movement and the Kijun-sen forms a horizontal movement. The MACD indicator is in a positive location. The price is consolidating.



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Technical Analysis for USD/JPY: May 16, 2016
« Reply #5 on: May 16, 2016, 06:32:45 PM »
The Service Sector activity in Japan has reduced more than expected last month. Tertiary Industry Index seasonally corrected displayed -0,7% contrary with -0,1% in the recent month. The experts anticipated a decrease to -0,2%.

The first support occurs at 108.20 and at 107.40 subsequently. The first resistance stands at 109.00 and at 109.80 subsequently.

The price is in the Ichimoku Cloud and it is over the Chikou Span. The Tenkan-sen forms a horizontal movement and the Kijun-sen displays an ascending movement.

The MACD indicator is in a positive location. The price is consolidating.



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Technical Analysis for USD/JPY: May 27, 2016
« Reply #6 on: May 27, 2016, 05:13:10 PM »
The yen deprived from growing on Thursday. But as the corporate services price index grew, it heightened precociously. And as presumed, the Corporate Service Price index grew by 0,2% y/y. The USA presented the Durable Goods Orders wherein the data showed 0,4% against the expected 0,3% and Initial Jobless Claims which showed 268,000 against the report 275,000.

The first support occurs at 109.00 and at 108.20 subsequently. The first resistance stands at 109.80 and at 110.60 subsequently.

The price is in the Ichimoku Cloud and it is over the Chinkou Span. The Tenkan-sen and the Kijun-sen form a horizontal movement creating a "Golden Cross".

The MACD indicator is in a neutral location. The price is consolidating.



Offline Andrea ForexMart

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Technical Analysis for USD/JPY: July 4, 2016
« Reply #7 on: July 04, 2016, 07:11:58 PM »
The Japanese government believed that the cause of the household spending enfeeblement in May was the continuous breakdown of the consumer prices. This event leads to a further compression to the Bank of Japan which is discontented with the present sinewy of the Japanese yen.

The instrument reduced from a local high. The pair is directed to revert under 102.50. The resistance occurs at 103.50 while the support resides at 102.50.

We should notice that the expansion of the MACD indicator decelerated. It has stayed in the negative location which signifies a sell signal. Meanwhile, the RSI is in a neutral location and doesn't provide any signals. The USD/JPY pair is under the Moving Averages (50,100 and 200) which goes on a descending movement. The pair tested the 50-day movement and slip downwards. The 50-day movement is the nearest resistance for the pair.



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Technical Analysis for USD/JPY: July 19, 2016
« Reply #8 on: July 19, 2016, 07:02:08 PM »
The USD/JPY pair clamped down an impressive pip average of 423 pips after the session closed down last week, the pair’s biggest weekly gain since October 2014. The pair doesn’t seem to be stopping these gains anytime soon, as this week’s opening proved to be favorable for the USD/JPY.

Sentiment has experienced a downgrade and is in its lowest level since January 2016. Meanwhile the SSI also went down at +1.15,  the lowest reading since January 31, 2016, entering short into the USD/JPY.

The USD/JPY set its record of one of the highest pip sell off at 2,000 pips last January 2016. This sudden surge of the USD/JPY and a decrease in SSI readings might be even more favorable for traders if the prices can break newly-forming resistances.



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USD/JPY Technical Analysis: July 26, 2016
« Reply #9 on: July 26, 2016, 04:57:32 PM »
   The USD/JPY pair closed Monday’s session with a  more stable position, after investors chose to wait out Bank of Japan and Fed’s meetings.

   The Yen remained unchanged during Monday’s session, but its bearish views are becoming more favored by the minute. The pair’s resistance came in at 107.00, while its support remained at a standstill at 106.00. MACD experienced a decrease and remained on the positive side, which indicates the weakening state of the buyers’ positions, while the RSI is still on the neutral side.

   The USD/JPY remains above the EMAs of 50, 100, and 200 in the 4-hour chart, with its moving averages all moving upwards. A downward surge may soon start if USD/JPY falls below the 105.30 support level. If buyers maintain their control, the pair may go up to 107.00 and possibly even up to 108.00.



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USD/JPY Technical analysis: August 3 2016
« Reply #10 on: August 03, 2016, 06:14:40 PM »
The Japanese Yen viewed to increased at its 3-week high after the Prime Minister of Japan officially announced about the stimulus package to reinforce the Japan's economy.

The price movements of the pair in the intraday chart seems bearish since USD/JPY go through a downward pressure for the past week. The pair continued to mark down at 100.64 level. The current resistance comes in 101.40 while the level of support can be seen at 100.40

The momentum indicators, RSI and MACD is observed to create sell signals for traders. RSI moved into the oversold condition, at the same time the MACD indicated strength in the seller's position due to its downward movement.

Presented in the 4-hour chart is the price movement of the instrument that are approximately in the downward trendline that tapped out the 50,100 and 200 Day EMAs.

Trader's next potential target exists at 100.40 and speculated a short-term bullish call close to 101.40.



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USD/JPY Technical Analysis: August 11 2016
« Reply #11 on: August 11, 2016, 05:37:46 PM »
Current updates about the increased in the funds rates of U.S Fed for this year seems uncertain for the market since the pair USD/JPY gained a lower position and its trading position swing lowers and reached a downtrend risk with 101.00 level of support.

The resistance level of the pair is positioned at 101.40, the support can be seen at 100.40

The momentum indicator MACD turn over the negative zone whereby identifies the seller's strength, RSI has been settled in the oversold position.

Presented in the 4-hour chart, the USD/JPY is inclined to the 50-EMA but move away again from it though the 50-EMA sustained an overwhelming level of resistance placed in the region of 102.00. The pair intersects in the 50, 100 and 200 moving averages directed towards the lower level of the selected time frame.

Since the pair is highly pressured, the recent price of the pair is expected to expand in the 102.00 economic region where the 50-EMA is spotted. The pair's price may also move back and forth at the level of 100.40.



Offline Andrea ForexMart

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USD/JPY Technical Analysis: August 12, 2016
« Reply #12 on: August 12, 2016, 12:57:29 PM »
   The USD/JPY pair weakened further following the release of the Jobless Claims Report, with traders clamoring for a response from the Bank of Japan. Should the weak state of the pair continue, then the BoJ will have to release a statement sooner or later.

Thursday’s session showed a remarkably low volatility in the market which only became active after the release of the US Jobless Claims Report. A positive US labor data strengthened the USD, causing traders to push prices upward. The instrument rallied at 101.40 and broke the level, with the resistance coming in at 102.50 and support levels at 101.40. The MACD is currently at the center level, and a histogram entry at the positive side will mean an increase in buyers’ strength. On the other hand,  sellers will regain its control of the market should the MACD go over the negative side. The RSI indicator is projected to increase after going over the oversold area.

The 50 and 100 EMAs were broken by prices in the 1-hour chart, after which the EMA pairs further increased its strength. The 200-EMA now acts as a barrier for the USD/JPY pair, with the moving averages going down within the said time frame. The USD/JPY will possibly move to test the next bullish target at 102.00, along the area of the 200-day moving average.




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USD/JPY Technical Analysis: August 23 2016
« Reply #13 on: August 23, 2016, 05:39:52 PM »
As the USD/JPY strengthened, the US dollar corresponded in the same manner. Furthermore, the vice chair of FED announced yesterday about the return on investment prior to the end of the year. The pair executed an open close movement which generated a gap during the outset of the day trading with a resistance formed at 100.77 level. The pair signaled a slight interruption to an upward momentum though the gap did not moved back on its basic level which indicated a sharp bullish signal. The pair responded a pullback of 100.32 upon the European session. USD/JPY is anticipated to trade within the range of 99.90-107.78.



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USD/JPY Technical Analysis: September 14 2016
« Reply #14 on: September 14, 2016, 07:24:06 PM »
After the Board of Governors of the Fed released an announcement regarding their speculations to bring around the possible increase in rate for the month of September. The US dollar and Japanese yen confirmed a buy signal on Tuesday. On the other hand, the dollar recovered from the losses it endured on Monday. The buyers also drove the price within the level of 102.50. The financial instrument restored its position on top of the 50, 100 and 200 EMAs as indicated in the 4-hour chart while remained in a neutral status.

Resistance is placed at 102.50, support settled at the level of 101.40. MACD arrived at the negative zone and experienced a steep decline that signaled seller's strength. RSI bounced against the oversold condition.