Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (108.87).
if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDJPY is in a range bound and the beginning of Downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic...
TDI telling us to go short, but because it is counter trend will just wait for the correct pattern coming out of the EMAS to get in.
We should expect a small bearish move of about 22 pips, take it as a little pullback of the high bullish move that started on December 12
The US dollar remains under downside pressure against the Japanese yen, following the release of more weak data from the US economy. From a technical perspective, the USDJPY pair is extremely weak while trading below the 108.60 support level. Going forward, a break under the 108.20 level exposes the USDJPY pair to heavy technical selling towards the 107.50 level...
The US dollar has fallen back under the 108.90 level against the Japanese yen currency, making the pair technically bearish over the short-term. Continued weakness under this key area could provoke further losses towards the 108.20 level. The USDJPY pair could capitulate to technical selling if the 108.20 support level is broken.
• The USDJPY pair is only...
The US dollar continues to target towards 110.00 level against the Japanese yen as the greenback remains well-supported across the board. The recent high around the 109.60 level provided a signal that the USDJPY intends to push higher over the shor-term. The 110.90 level could be the overall upside objective for medium-term bulls if the 110.00 resistance level is...
