Author Topic: Daily Market Analysis from ForexMart: USD/JPY  (Read 6658 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.

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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. 

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Re: Daily Market Analysis from ForexMart: USD/JPY
« Reply #51 on: September 25, 2017, 02:27:48 PM »
USD/JPY Technical Analysis: September 25, 2017

The U.S. dollar against the Japanese yen declined during the Friday session as the market looks for support close to the 112 level. Hence, the market will be more appealing to buyers because of the Federal Reserve plans to reduce their balance sheet. This market is sensitive to the “risk on” factor added to the overall interest rate outlook for both central banks.

The Federal is way earlier than the Bank of Japan regarding the rise in interest rates that makes it highly probable to move to the upper channel. It may be not wise to short this pair for now. However, there are buying opportunities in pullbacks. On the weekly chart, there is a consolidation seen in the 108 level below and 114.50 level above for long term. The next target level will be 114.50 while a decline would offer value to the market. There might be some noise every now and then because of “risks off” incidents worldwide in consideration of the upsurge in the stock market.

Incremental increase and opening bigger positions are the best means of trading this pair in the background of an upward rally. If the market breaks over the 115 handle, it will lead to a “buy-and-hold” situation although this may take some time to happen. For now, buyers will predominate this pair for short-term to take advantage of the current situation.

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Re: Daily Market Analysis from ForexMart: USD/JPY
« Reply #52 on: October 04, 2017, 03:40:53 PM »
USD/JPY Technical Analysis: October 4, 2017

The U.S. dollar against the Japanese yen surged but then it declined towards the level of 113.25. It declined to the area of 112.75 with a bit of support. Hence, the market will attempt to rally from this level and resume the general uptrend recently. After some time, the price will further move up due to the risk of appetite from traders. Moreover, there is a possibility for the Federal Reserve to increase its rates or at least the be stricter with the monetary policy. Therefore, the market will move towards the 113.25 level then towards 114.50 and higher. The market will test the peak of the whole consolidation which sways to and fro. If the market successfully breaks higher than the 115 handle, the market would move much higher which is presumably towards 118 level.

If the price pullbacks from the said level, there would be more opportunities present to resume the value. It seems that the 112 will be largely supportive and the floor of consolidation will be seen at the level of 108. A pullback would open buying opportunities considering the support below. Eventually, both sellers and buyers will gain profits with the presence of volatility in the market if given sufficient time.

Notably, the market is influenced by the general stock market which is another indicator that must be monitored besides the S&P 500 and the DAX etc. Nevertheless, the stock market will climb higher as it is in a good condition. 

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Re: Daily Market Analysis from ForexMart: USD/JPY
« Reply #53 on: October 09, 2017, 04:34:49 PM »
USD/JPY Technical Analysis: October 9, 2017

The U.S. dollar rallied to the upside in the course of the Friday session which came out following the mixed report of the jobs data. Although most traders will pay no attention to the jobs data in the aftermath of the two hurricanes. The 10-year interest rates in the U.S. also surged which further drove the market higher. There is a possibility got the USD/JPY major pair follow suit as there are no returns committed in the 10-year notes. Consequently, it seems that the market proceeds directed upward reaching the peak of the consolidation which is at the level of 114.50 up to the 115 handle. Overall, there will most likely be a breakout lower than 115 handle and the market should carry on with its uptrend at higher levels and result in a “buy-and-hold” trend.

There will be more buying positions when the trades decline and there is a chance for a pullback to occur and take profit of the outburst during the Friday session. The trend could possibly break to the upper channel and attain the level towards 120 handle which is a relevant target being a big round number. Volatility will still persist in the market yet there is a high chance for buyers to dominate since the comeback of the U.S. dollar against the Japanese yen. There will be less worry regarding the uptrend unless it breaks below 112.00 level. Nevertheless, there will be plenty of support found below. For the long term, buyers will have a trend in the market as the interest rates for 10-year notes from the U.S. will ascend in value which would remain to put pressure to progress upward in the market. At the same time, the stock market will advance which will also associate the pair. 

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Re: Daily Market Analysis from ForexMart: USD/JPY
« Reply #54 on: October 12, 2017, 05:13:24 PM »
USD/JPY Technical Analysis: October 12, 2017

The U.S. dollar declined at the outset of Wednesday’s trading session, however, the bucks were able to find support on top the 112 handle to conduct a reversal, showing active existence.
The American dollar must keep on finding lots of support at 112 level because every pull back will provide plenty of support from that region. It is better when it offered some “floor” but a break down underneath there would offer a massive support below the 111 mark. With this, buyers will return to the market in a short period of time except when the Federal Reserve rejected the proposed interest rate hike.

The issue about rate hike has been the talk of the town for some time and maybe it’s time for the Fed to have at least some hints about their position regarding this matter, as the market really needs to see some progress or else they might lose their credibility. Many are intrigued on how many times the Fed will increase its rates which most participants would search within the Meeting Minutes. Hence, it will take some time to get a clear answer but this idea was already established within the marketplace and probably there is no any reason to conduct such rally.
The Bank of Japan remains to be soft which makes it reasonable to enter the 114.50 region. This level is the top of the longer-term consolidation. It appears that market imposes a “buy only” mode.

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Re: Daily Market Analysis from ForexMart: USD/JPY
« Reply #55 on: October 23, 2017, 03:43:07 PM »
USD/JPY Technical Analysis: October 23, 2017

The U.S. dollar surged against the Japanese yen during the Friday trading session. It is mainly because of the hawkish sentiment from the candidates of the next  Federal Reserve Chairman. It seems that the market favors the greenback more that makes opens opportunities when the price pulls back. Most likely, the next target would be above 114.50 which sets as the resistance level strongly positioned on long-term charts. This has been consolidating for a while and the price would probably rally in the upper channel is it breaks more than the 115 region. Hereinafter, there is a tendency for the price to move towards the 118 region in the succeeding weeks or even months.

However, it may not be best to short this pair as it pulls backs since there are concerns in the lower boundary. The support level is found at 112 level and up to 113 level. If the stock market persists to climb higher, this will be have an impact to the pair. Hence, traders should be avoid shorting this pair unless the price breaks down lower towards 111 region. From here on, there is a tendency for the pair to turn around and negatively affect trading. However, in times that the pair would rise, trader could take advantage by  adding positions and incrementally gain profits. 

Overall, it is anticipated to have high volatility and numerous buyers which could highly lead to a rally. However, there will a lot of noise present that makes it ideal to trade this pair in smaller positions weighing the current condition and future moves. Ultimately, traders should not neglect the presence of noise in trading the USD/JPY pair.

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Re: Daily Market Analysis from ForexMart: USD/JPY
« Reply #56 on: November 29, 2017, 10:56:12 AM »
USD/JPY Technical Analysis: November 28, 2017

The American dollar weakened versus the Japanese yen throughout the trading session yesterday, while the downward pressure continues. The path towards the 111.50 zone was already cleared and there is a possibility that the market will remain moving down near the bottom area of the overall consolidation felt in the past few months, in case of an extension towards 108 handle. This could possibly true since the US Congress cannot even establish substantial tax bills.

Moreover, it is preferred to impose a buy signal until a break on top of the 112 level on a daily close unless a supportive trend formed around the 108 handle, which is regarded previously as significant and supportive. The market would likely to make a reversal and the US Congress would be able to completely perform its task.

Meanwhile, the current situation can be defined as some sort of “sell the rallies”, as the greenback softened across the board. The JPY remains to be considered as safety  currency and a cautious move can be witnessed given enough time. As shown in the hourly chart, a shooting star begins to form at the 111.25 mark which is a previous support and expected to be resistive at this moment. A cut through at the 110 level could possibly the next move and descended beneath the 110 region that nearly open the way through the 108 handle. Generally, a lot of volatility is predicted to continue, however, the general downward pressure remains to  be a situation in the market that shows extreme choppiness.