USD/JPY is expected to trade with bullish outlook. The pair posted a rebound from 110.60 (the low of July 24) and broke above its 20-period and 50-period moving averages. In addition, the bullish cross between 20-period and 50-period moving averages has been identified, which indicates a positive...
In Asia, Japan will release the Monetary Policy Meeting Minutes data, and the US will release some Economic Data, such as Richmond Manufacturing Index, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, and HPI m/m. So, there is a probability the USD/JPY will move with low to medium...
The price has dropped further to our buying area and has now started bouncing off our key support area. The plan is to remain bullish above the key support level at 110.88 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a bounce above this level for a...
OverviewThe USD/JPY pair succeeded to touch our second target at 110.98. Today, the pair opened with a more decline to move below it now, as it closed the last four hours' candlestick below it. This indicates the extension of the bearish wave towards the next correctional level at 110.15....
Our targets which we predicted in yesterday's analysis have been hit. The pair broke below the key support at 111.45, which becomes the key resistance now. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index is below its...
Recently, the USD/JPY has been trading downwards. The price tested the level of 110.62. According to the 4H time frame, I found that sellers are still in control and that breakout of rising wedge from a week ago was the main reason why sellers entered the market. My advice is still to watch for...
The price has dropped further and is now testing another key support level at 110.88 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a bounce above this level for a short term correction to at least 112.42 resistance (Fibonacci retracement, horizontal...
In Asia, Japan will release the Flash Manufacturing PMI data, and the US will release some Economic Data, such as Existing Home Sales, Flash Services PMI, and Flash Manufacturing PMI. So, there is a probability the USD/JPY will move with low to medium volatility during this day.TODAY'S TECHNICAL...
Recently, the USD/JPY pair has been trading downwards. As I expected, the price tested the level of 111.26. According to the 4H time frame, the price is still making lower highs and lower lows, which is a sign that sellers are in control. Strong breakout of a rising wedge in the background is a...
USD/JPY is under pressure and expected to trade in a lower range. Although the pair posted a rebound from 111.50 (lows of July 19 and 20), the upward potential is likely to be limited by the resistance at 112.10. The relative strength index is mixed with a bearish bias. Therefore, as long as 112.10...
