USDJPY Forecast July 16, 2015, Technical Analysis
The USDJPY pair rose during the course of the session on Wednesday, breaking above the 1.3 .50 handle.
The USDJPY pair rose during the course of the session on Wednesday, breaking above the 1.3 .50 handle.
The USDJPY pair broke higher during the course of the session on Monday, clearing the 123 handle.
The USDJPY pair did very little during the session on Wednesday, as we continue to bounce around the 123 handle.
EURJPY (quote) has been moving sideways since the start of the month, as price found support at the 139.00 major psychological level and resistance near 141.00.
USDJPY’s downward movement from 1.2202 extended to as low as 118.33.
USDJPY remains in uptrend from 101.06 (Jul 10, 2014 low), the sideways movement
The USDJPY pair took off during the session on Friday as the nonfarm payroll number came out much better than anticipated.
USDJPY remains in short term uptrend from 115.56, further rise to test 121.84 resistance could be expected,
USDJPY is facing 117.23 support, as long as this level holds, the fall from 121.84 could be treated as consolidation
Difficult to believe that until recently the US dollar (UUP, quote) was being written off by all and sundry, with some even suggesting that its days as the currency of first reserve were numbered. Many were calling for the Yuan to replace it, and even the euro in its current iteration. Others suggested a basket of currencies. How times have changed.