Author Topic: Daily Market Analysis from ForexMart: USD/JPY  (Read 4858 times)

Offline Andrea ForexMart

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USD/JPY Technical Analysis: May 29, 2017
« Reply #45 on: May 29, 2017, 05:02:35 PM »

The U.S. dollar against the Japanese yen declined during the Friday session. It reached the lowest level of 110.80. If it bounced back, this will signal a bullish trend but this would not be easy to attain as there is high-risk appetite especially for this pair. The 110 level gives off a massive support but is the pair breaks lower, the next level would be at  108 region at a quicker pace because there is a still remaining gap that has not been filled.

In  the long-term, this pair will most likely go higher although it may take some time since the 112.50 is strongly resistive. A break higher than this region would be beneficial for scalpers to take advantage of bulls interested in the U.S. dollar.

Traders of this pair should monitor the S&P 500 index as this would have a big influence to the pair. If the index rises, this pair follows. Moreover, the chances for a Fed rate hike puts a bullish pressure for the pair. If it did not take place, it might be a problem for the pair although it is most likely that this would happen with its stature at stake.

Pullbacks every now and then offer long-term opportunities but for short-term, this gives off bearish volatility/ This could persist for some time especially with the major events concerning geopolitical problems occurring from Europe and the U.S.

Overall, the pair moves in an uptrend from 110.23 level and a decline from 112.13 will indicate a correction. It is expected to rise again following the correction towards the 113.50 level. The near-term resistance is found at 111.70 and a break to this level would mean a continuation of the uptrend. On the other hand, the support region is positioned at 110.80 and 110.23 and a break from these levels would push the price back again from 114.36 level.

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USD/JPY Technical Analysis: May 29, 2017
« Reply #45 on: May 29, 2017, 05:02:35 PM »

Offline Andrea ForexMart

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USD/JPY Technical Analysis: July 24, 2017
« Reply #46 on: July 24, 2017, 06:16:52 PM »

The U.S. dollar against the Japanese yen descended during the Friday session as it gaps lower than the 111.50 level. Hence, the market declined directed to the 111 region which is a significant psychological level for this pair. Yet, the main support should be found near the 110 handle and a rally from this would open selling opportunities in the market. The 110 region is massively supportive but a retest is still needed. It seems that the market is risk sensitive but the Federal Reserve announcement still has a big impact on the pair.

Traders are beginning to presume that the Fed Reserve will slowly raise its rates where Janet Yellen has said recently saying that the data will be relative to rate hikes. This could reverse the market trend completely.

The 110 region is an area could become relevantly supportive. A bullish pressure is anticipated in that area which will be additionally supported by statements from major players such as the Federal Reserve. It is probable for the market to become bearish in the succeeding trading session but there will also be a downward pressure that restricts the trade movement. If the trend breaks lower than the 109 level then the market could collapse.

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USD/JPY Technical Analysis: July 24, 2017
« Reply #47 on: July 24, 2017, 06:17:47 PM »

The U.S. dollar against the Japanese yen descended during the Friday session as it gaps lower than the 111.50 level. Hence, the market declined directed to the 111 region which is a significant psychological level for this pair. Yet, the main support should be found near the 110 handle and a rally from this would open selling opportunities in the market. The 110 region is massively supportive but a retest is still needed. It seems that the market is risk sensitive but the Federal Reserve announcement still has a big impact on the pair.

Traders are beginning to presume that the Fed Reserve will slowly raise its rates where Janet Yellen has said recently saying that the data will be relative to rate hikes. This could reverse the market trend completely.

The 110 region is an area could become relevantly supportive. A bullish pressure is anticipated in that area which will be additionally supported by statements from major players such as the Federal Reserve. It is probable for the market to become bearish in the succeeding trading session but there will also be a downward pressure that restricts the trade movement. If the trend breaks lower than the 109 level then the market could collapse.

Offline Andrea ForexMart

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Re: Daily Market Analysis from ForexMart: USD/JPY
« Reply #48 on: September 08, 2017, 03:12:53 PM »
USD/JPY Technical Analysis: September 8, 2017

The US dollar weakened versus the safe-haven Japanese Yen amid Thursday’s session and tested the 108.50 handle. This level appeared to be an interesting area because it is the bottom of the longer-term consolidation. A close under this region of the daily candle will push the market downwards through the next major support hurdle, which is the level of 105 below.

Otherwise, when the market rebounded from that point, then it is possible to return to the 109.50 mark. It will take some time for the market to declare their targets and we are currently at a very significant region on the longer-term charts.

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Re: Daily Market Analysis from ForexMart: USD/JPY
« Reply #49 on: September 11, 2017, 02:48:11 PM »
USD/JPY Technical Analysis: September 11, 2017

The U.S. dollar against the Japanese yen had a significant breakdown during the Friday session. Nevertheless, the market proceeds to move downward and a breakdown lower than 108.0 level gives a negative outlook. Hence, this could lead to a further decline and even lower than the 105 level. This gives a very pessimistic outlook and the concept of the Federal Reserve in not raising its interest rates for short-term would persist to have an effect on the market. It is next to monitor the equities which would also influence the next movement of the pair.

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Re: Daily Market Analysis from ForexMart: USD/JPY
« Reply #50 on: September 14, 2017, 03:53:13 PM »
USD/JPY Technical Analysis: September 14, 2017

The U.S. dollar versus the Japanese yen rallied to the upper channel during the Wednesday session and there is an unabating buying pressure. The discussion on tax reform from the United States further worsens the situation since it came out earlier than expected. On the other hand, this is favorable for the greenback. This makes more U.S. companies more aggressive and in all likelihood boost the U.S. economy. On this condition, it is presumed that buyers will enter the market and attain the level of 111. If the market successfully breaks out, there is a potential for the price to move much higher.