U.S. Dollar Under Pressure againts the Yen and Euro
This week market participants are getting a flurry of global economic data that has been and continues to have the potential to move the currency markets.
FXY
USDJPY Rising Channel Pattern (April 22, 2014)
USDJPY is moving inside an ascending trend channel on its 4-hour time frame, indicating that further gains could be in the cards for the pair.
USDJPY Forecast April 15, 2014, Technical Analysis
The USDJPY pair rose during the session on Monday, bouncing off of the obvious support level near the 101.25 level.
USDJPY Daily Analysis – April 14, 2014
USDJPY remains in downtrend from 104.12. Further decline is still possible after a minor consolidation, and next target would be at 100.50 area.
USDJPY Daily Analysis – April 10, 2014
USDJPY remains in downtrend from 104.12, the rise from 101.55 is likely consolidation of the downtrend.
USDJPY Daily Analysis – April 8, 2014
USDJPY is facing the support of the lower line of the price channel on 4-hour chart.
USDJPY Daily Analysis – April 7, 2014
USDJPY remains in uptrend from 101.20, the fall from 104.12 is likely consolidation of the uptrend.
USDJPY Forecast April 4, 2014, Technical Analysis
The USDJPY pair tried to rally during the session on Thursday, but as you can see lost most of the gains by the time we closed at the end of the day. The 104 level proved to be rather resistive, so the fact that we pullback and formed a shooting star suggests that we are in fact going to see some type of pullback at this point in time.
USDJPY Forecast April 2, 2014, Technical Analysis
The USDJPY pair rose during the session on Tuesday, shooting straight up in the air.
USD/JPY Forecast March 27, 2014, Technical Analysis
The USD/JPY pair fell during the bulk of the session on Wednesday, but as you can see found enough support in order to turn things back around and bounce above the 102 level.