USDJPY Analysis 8th May 2013 – Dollar Yen Technical Update (Dollar/Yen Technical Update 8/5/13, Forex-FX-4X.com) Dollar/Yen is trading around 100 pips under the key psychological 100.00 round number area and is caught in a consolidation range as the market seeks near term direction and profit taking weighs on the pair. Wagers on a continuation of…
USDJPY Technical Update – Week Of April 29th – May 3rd – Dollar/Yen Dollar/Yen has found significant resistance under the psychological 100.00 handle round number and closed the week around 200 pips under this area; this comes as market participants likely instigated an element of position covering due to the failure to take out the 100.00 handle. The…
USDJPY Technical Update – Ichimoku Analysis – WC 4th March The bullish breakout of the double inside day formation, as highlighted in our previous USDJPY update, has seen an extended move higher. The dollar yen pair is now trading around the 93.50 area, above the Tenkan Sen and Kijun Sen Ichimoku levels. The weekly timeframe USD/JPY chart below…
USDJPY Technical Analysis Update – Outlook March 1st 2013 The USDJPY currency pair has halted the recent decline following the gap higher on Sunday and a near term yen depreciation scenario has once again unfolded. A double inside day formation (Tue,Wed) has seen an upside breakout and the dollar/yen pair has started to test the…
USDJPY Analysis: Strong Yen Rebound Sends Warning - Abe Nominations Chief Cabinet Secretary Yoshihide Suga told reporters yesterday that the Japanese government will look to present Prime Minister, Shinzo Abe’s nominations for the next Bank of Japan governor to the respective parliamentary committees today. PM Abe, will need opposition party support, as the ruling LDP (Liberal Democratic Party) do not have…
USDJPY: Japanese Yen Falls Near Three Year Low The Japanese yen plummeted 0.9 percent to 94.24 per dollar, the lowest point seen in around three years, during the Asian open. The market gapped over 100 pips higher on currency pairs including the USDJPY (US dollar/Japanese yen) and (Euro/Japanese yen) EURJPY. This gap up scenario came…
USDJPY Technical Update – Week Of 25th February 2013 – Ichimoku Analysis USDJPY has closed marginally lower on the weekly basis and the 94.00 area recent range high has held as resistance. This 94.00 handle roughly coincides with the 38.2% Fibonacci retrace of the long term dollar/yen 124.13 – 75.51 swing. Any downside move has the 92.18 area as potential support,…
USDJPY Technical Update – Week Of 18th February 2013 – Ichimoku Analysis The Japanese yen plummeted on Friday as global policy makers attempted to talk down concerns around the so called “currency wars” and advised they did not intend on interfering with Japan’s monetary policy efforts. The USDJPY pair subsequently rallied around 1% after…
USD/JPY Technical Analysis – Dollar/Yen Doji – Ichimoku – WC 11th February 2013 The dollar/yen pair has seen a corrective move lower after hitting the long-term Fibonacci 38.2% retrace level from the 2007 > 2011 decline. This comes as the Japanese yen has depreciated 18% versus the US dollar since mid-November 2012. Fridays daily…
USDJPY Technical Analysis – Price Action – Ichimoku – Outlook WC 28/1/13 The USDJPY pair has closed the week firmly above the 90.00 handle psychological level. The 0.90% weekly basis gain does not truly reflect the bullish momentum and increased volatility seen on Thursday and Friday, with a 214 pip daily range on Thursday –…
USD/JPY Technical Analysis – Price Action Update – WC 21/1/13 The Japanese yen has weakened further after a USDJPY pullback to the 88.00 area met with significant demand earlier last week. USDJPY is now trading over the 90.00 handle for the first time in over two-and-a-half years, amid speculation the yen will drop further as…
USD/JPY FX Price Action Analysis Update – WC 17th December Japanese yen sentiment overview – The general election in Japan this Sunday is widely expected to bring about a change in leadership and the favourites, the Liberal Democratic Party, have stated they intend on taking a much aggressive stance towards fighting deflation. This has seen a bearish…
USD/JPY – Forex Technical Analysis – Price Action Box Consolidation In Focus The USD/JPY is now trading within an established range, between 81.68 and 82.83, as can be seen on the daily timeframe dollar/yen chart below. This “box consolidation phase” is our focus heading into the week commencing 10th December; with this in mind we…
COT Report Reveals Significant Increase In Yen Net Short Position The dollar/yen rate (USD/JPY) once again rallied close to the highest level seen since around April this year, during trading late last week. Further monetary easing rhetoric from Shinzo Abe, the leader of the LDP (Liberal Democratic party) provided a catalyst for a resumption of…
USDJPY Resumes Uptrend – Long Term Support And Resistance Levels Dollar/yen has seen a resumption of the recent uptrend today, now markedly higher after a break above the 80.60 area resistance we highlighted in this USDJPY update, and moving to a fresh 7-month high. The Japanese yen has now dropped 8% during the past year,…
USD/JPY November 16th Analysis – “Unlimited Easing” Rhetoric – Extended JPY Downside Our previous USD/JPY update (Wednesday) noted that the market was pricing in the potential for additional monetary easing measures in Japan, as Shinzo Abe, head of the LDP (Liberal Democratic Party) looked set to lead the next Japanese government. Abe, today called on the…
Japanese Yen Weakness As PM Noda Suggests Early Election Possible (Forex-FX-4X.com 14th November, 2012) The Japanese yen has dropped versus its major currency counterparts today after Japanese Prime Minister Yoshihiko Noda advised he could be open to dissolving parliaments lower house, as soon as this week (November 16th), with a view to holding elections in mid-December….
USDJPY Technical Update – Dollar Yen Retrace From 50% Level Gains Momentum The yen has strengthened as market participants seek a safe haven away from the USD, on elevated concerns that U.S. Congress may struggle to avert the “fiscal cliff” following the re-election of President Barack Obama. Last weeks COT report update showed that positioning for…
Forex: USDJPY Technical Analysis Update – 80.00 Support Holds – Range Resistance Fragile The dollar/yen currency pair has found support today around the 80.00 handle, which is closely aligned with the 50% retrace of the last swing to the upside. See the daily timeframe (figure 1) USDJPY chart below. This comes after a breakout of…
Dollar/Yen Back At 80.00 Level – No Follow Through Seen After Bearish Reversal The USDJPY is once again trading back at the 80.00 level. The bearish engulfing candle we discussed in a previous post (when price was at 79.63) was followed by a downside move to a low of 79.27 before the dollar/yen currency pair…
