USDJPY Forecast July 23, 2014, Technical Analysis
The USDJPY pair tried to rally during the course of the day during Tuesday, but as you can see we pullback in order to form a shooting star.
Yen
USDJPY – find better trades in the Yen cross pairs
The USDJPY continues to deliver a masterclass in patience for longer term traders, with the long term consolidation phase continuing once again last week, as the pair closed with a narrow spread down candle on the weekly chart, ending the futures trading session at 101.30.
USDJPY Forecast July 8, 2014, Technical Analysis
The USDJPY pair fell during the session on Monday, but as you can see really remains mired in a significant amount of consolidation.
USDJPY Forecast June 3, 2014, Technical Analysis
The USDJPY pair broke out to the upside during the session on Monday, essentially cracking the top of a couple of hammers from last week. We are testing the 102.50 level at the moment, and thereby we think we are getting ready to head to the 103 handle.
Where next for the US dollar?
Following continued bullish momentum for many of the major currency pairs, these are now approaching key technical levels, which if breached could prove to be the tipping points for some sustained and longer term trends to develop.
USDJPY Daily Analysis – May 5, 2014
USDJPY breaks below 101.96 support, indicating that the upward movement from 101.32 had completed at 103.02 already.
USDJPY Daily Analysis – April 29, 2014
USDJPY is facing 102.72 resistance, a break above this level will indicate that the uptrend from 101.32 has resumed,
USDJPY Daily Analysis – April 28, 2014
USDJPY is now in downtrend from 102.72, and the fall extended to as low as 101.96.
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.
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.