The US dollar has opened the new trading monthly strongly against the Japanese yen after a positive outcome from the G20 leaders meeting over the weekend. The 109.00 resistance level still remains the overall upside short-term objective for USDJPY bulls this week. USDJPY sellers may attempt to enter around this area, following the heavily bearish candle formation...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=136.3. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=137.1. TP4: R2=137.5. Set the stoploss of these orders at breakout of S2=136.05. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (71.500). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . NZDJPY is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support....
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=135.8. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=136.55. TP4: R2=136.9. Set the stoploss of these orders at breakout of S2=135.4. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=136.45. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=135.5. TP4: S2=135. Set the stoploss of these orders at breakout of R2=136.65. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=136.55. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=137.5. TP4: R2=137.8. Set the stoploss of these orders at breakout of S2=136.35. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=122.4. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=123. TP4: R2=123.3. Set the stoploss of these orders at breakout of S2=122.2. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The US dollar has started to rise against the Japanese yen currency, with buyers now attempting to break away from the pair’s recently established trading range. The 108.65 level offers solid resistance, while the 109.00 level is the major intraday resistance level. If the move higher is a false breakout, the USDJPY pair could easily still test towards the 107.40...
The US dollar starts the new trading month under heavy downside pressure against the Japanese yen following the bearish breakout below the 109.00 level. Further losses in the USDJPY pair still appear possible as the bearish head and shoulders pattern has a target of 107.40 level. The United States ISM report later today is likely to have a big impact on the...
The US dollar has started to reverse direction against the Japanese yen after finding strong technical resistance from the 109.92 level. The direction of the USDJPY pair is increasingly linked to the bearish head and shoulders pattern on the four-hour time frame. Overall, the bearish head and shoulders pattern on the four-hour time frame and the releases are core...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=138.1. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=138.95. TP4: R2=139.55. Set the stoploss of these orders at breakout of S2=137.8. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The US dollar has slipped back towards the worst trading levels of the week against the Japanese yen currency due to recessionary fears coming from the US bond market. USDJPY bulls have also been unable to move price above the 109.60 level placing the emphasis back towards the downside. The four-hour time frame chart continues to highlight that a break below the...
The US dollar has opened early Monday trading under downside pressure against the Japanese yen after the pair suffered its softest weekly price close since January 2019. If USDJPY sellers can force price below the 109.00 support level, the 108.40 level will then start to come into focus. USDJPY bulls need to move price above the 109.80 level to negate the heavily...
The US dollar is now under heavy selling pressure against the Japanese yen, following much weaker than expected PMI manufacturing data from the United States economy. The USDJPY pair has a bearish intraday bias while trading below the 110.00 level and could soon target the 109.00 level. If the 109.00 level is broken the 108.40 level then offers the strongest form...
The US dollar is under slight downward pressure against the Japanese yen currency on Thursday as the pair continues to correct lower after finding strong resistance above the 110.60 level. Further losses below the 110.20 support level should trigger additional intraday weakness towards the psychological 110.00 level. The 110.90 level is now the strongest form of...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=110.45. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=110.05. TP4: S2=109.8. Set the stoploss of these orders at breakout of R2=110.65. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of...
The US dollar has staged a strong upside recovery against the Japanese yen currency, with the pair reaching its upside corrective target. The USDJPY pair has a weekly bullish bias while trading above the 110.60 level and may target the 111.00 level if buyers can maintain upside pressure. Technical failure around the 110.60 level will likely prompt a test of the...
The US dollar has recovered back above 110.00 level against the Japanese yen currency following a brief correction towards the 109.70 support level. USDJPY bulls now appear to be launching a fresh attack towards key breakout resistance, at the 110.60 resistance level. Technical indicators on the four-hour time frame are still pointing higher as short-term bullish...