USD/JPY Resumes Uptrend as Bulls Targets Level 111.00

USD/JPY Resumes Uptrend as Bulls Targets Level 111.00

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bullish
Since April 26, the USD/JPY pair has resumed an upward move after falling to the low of level 108.00. Firstly, the Yen has broken above the moving averages which indicates a possible rise of the pair. The pair is currently above level 109.00 but it is consolidating above the current support.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The Yen is at level 57 of the Relative Strength Index period 14. This implies the market is in the uptrend zone and above the centerline 50. The pair is above the 21-day and 50-day SMAs which indicates that the currency will rise. The uptrend is currently facing resistance at level 110.00.

USD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the Yen has risen to level 109.69 but pulled back to level 109.00. Since May 3, the market now fluctuates between levels 109.00 and 109.69. Meanwhile, on April 28 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. It indicates that the market will rise to level 1.618 Fibonacci extension or level 110.07.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
USD/JPY pair is above the 60% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for USD/JPY
The Yen is in an upward move. The uptrend is facing resistance at level 109.69. A rally above level 110.00 is expected if the current resistance is breached. Meanwhile, the Yen is trading at level 109.30 at the time of writing.

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USDJPY: Dip buys in play

USDJPY: Dip buys in play

Key Support: 108.85 – 108.75
Key Resistance: 109.65

The USDJPY has been trading inside of a very structured bullish market for the past week and we are looking to capitalize on a dip buy to test the previous key level and the bottom of the structure.

In the long term we are still holding our buys from last week and this buy today is adding on our already bullish bias. This bias is Yen triggered as we believe the Yen has more downside with equities rocking up.

Structure wise, after last hour´s bullish rejection we got our entry and my oscillator is printing some heavy bullish divergence.

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USD/JPY Breaks Below Level 108.00, May Resume Selling Pressure

USD/JPY Breaks Below Level 108.00, May Resume Selling Pressure

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bearish
The USD/JPY pair was earlier in an uptrend. The upward move was terminated when the Yen reached the high of level 111.00. The currency price has fallen and broken below the moving averages. This is an indication of a further decline of the pair.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The Yen price is below the 21-day and 50-day SMAs which indicates that the currency will fall. The pair has fallen to level 38 of the Relative Strength Index period 14. This implies the market is approaching the oversold region. The 21-day and 50-day SMAs are sloping upward but making a U-turn.

USD/JPY Medium-term Trend: Bearish
On the 4-hour chart, the price bars are below the moving averages which are sloping downtrend. This is a typical example of a downtrend. On April 8 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. It indicates that the market will fall to level 1.618 Fibonacci extension or level 107.83.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
USD/JPY pair has fallen below the 30% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The pair has been in the oversold region since April 13. The 21-day and 50-day SMAs are still on a downward move.

General Outlook for USD/JPY
The Yen is in a strong downward move. The downtrend may extend below the Fibonacci extension. Presently, the price indicator has signified that the market will fall to level 107.83.


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USD/JPY Retraces From Level 111.00, Poises For A Fresh Uptrend

USD/JPY Retraces From Level 111.00, Poises For A Fresh Uptrend

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bearish
The USD/JPY pair has resumed a downward move after rejection at level 111.00. For the past two weeks, the pair has been failing on the downside. The Yen is likely to find support above level 108.00. If it does, the uptrend will resume. Otherwise, the selling pressure will continue.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair has fallen to level 47 of the Relative Strength Index period 14. The Yen is in the downtrend zone and below the centerline 50. It indicates a further downward movement of prices. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

USD/JPY Medium-term Trend: Bearish
On the 4-hour chart, the Yen has continued its downward move. The Yen price has broken below moving averages which indicates a further downward move. On April 8 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. It indicates that the market will fall to level 1.618 Fibonacci extension or level 107.80.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
USD/JPY pair has fallen below the 20% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The pair has been in the oversold region since April 13. The 21-day and 50-day SMAs are still on a downward move.

General Outlook for USD/JPY
The Yen has been in a downward move. It is approaching a crucial support level which may determine the reversal of the current trend. According to the Fibonacci tool, the market will decline to level 1.618 Fibonacci extension or level 107.80.

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USD/JPY May End Its Decline Soon!

USD/JPY May End Its Decline Soon!

USD/JPY plunged in the short term after reaching the 110.96 level. It has dropped as the USDX and JP225 have decreased as well. Still, the current correction could be only a temporary one.

The US Dollar Index is into a corrective phase which could end tonight after the FOMC Meeting Minutes. A new leg higher registered by the USDX could boost USD/JPY.

On the other hand, JP225 (Nikkei) is trapped within a potential continuation pattern. So, Nikkei maintains a bullish outlook, further growth could weaken the Yen again.

USD/JPY Daily Chart Analysis!

USD/JPY has come back below the ascending pitchfork’s upper median line (UML). Now is pressuring the weekly S1 (109.68) and the 78.6% level. We have a strong support area around these levels.

A false breakdown with great separation below the S1 or a major bullish engulfing could signal a new upside momentum. The outlook is bullish, so we could search for new long opportunities when the retreat ends.

Nikkei Daily Chart Analysis!

JP225 has decreased from the 150% Fibonacci line and now it could reach and retest the upper median line (UML). The most recent false breakdown below the triangle’s support signals strong buyers.

It could continue to move sideways in the short term before registering an upside breakout. Moving higher again should force the Yen to depreciate versus its rivals.

If you want to receive the USD/JPY buying signal just subscribe to the VIP channel HERE

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Olimpiu Tuns

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USD/JPY Develops A Continuation Pattern!

USD/JPY Develops A Continuation Pattern!

USD/JPY decreased a little after reaching the 110.83 level. Now it moves sideways within a potential continuation pattern.

The pair decreased a little as the USDX and JP225 slipped lower. Still, further growth registered by these two indexes may bring a new momentum.

Better than expected US data reported later today could boost the pair. Moreover, the Yen could depreciate further as the Nikkei could resume its growth.

USD/JPY H1 Chart Analysis!

USD/JPY is trapped within a triangle, so we have to wait for a valid breakout before taking action. The false breakouts above the minor downtrend line signal high selling pressure around this line.

Personally, I still believe that a new higher high could bring a bullish signal. USD/JPY could come back down to retest the S1 (110.42) before flying higher.

Conclusion!

An upside valid breakout from this pattern may signal that USD/JPY could approach at least 110.96 high.

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Olimpiu Tuns

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USD/JPY Reaches the Overbought Region, May Reverse at Level 111.37

USD/JPY Reaches the Overbought Region, May Reverse at Level 111.37

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bullish
The USD/JPY has continued its upward move. Presently, the Yen has risen to level 110.96. The uptrend is reaching bullish exhaustion. On March 10, a retraced candle tested the 78.6% Fibonacci retracement level. The retracement implies that the Yen will rise but reverse at level 1.272 Fibonacci extension or level 110.32.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 81 of the Relative Strength Index period 14. The pair has reached the overbought region. It has no sufficient room to rally on the upside as sellers may emerge in the overbought region. The 21-day SMA and 50-day SMA are sloping northward indicating the uptrend.


USD/JPY Medium-term Trend: Ranging
On the 4-hour chart, the pair has continued its sideways move. The Yen resumed a sideways move after rejection at level 110.94. On March 31, a retraced candle body tested the 78.6% Fibonacci retracement level. It indicates that the market will rise and reverse at 1.272 or level 111.37.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
USD/JPY pair is above the 80% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The Yen is now in the overbought region of the market. The 21-day and 50-day SMAs are sloping upward indicating an uptrend.

General Outlook for USD/JPY
On March 31, the Yen was resisted at level 110.96 which compelled it to resume sideways move. However, the Yen upward move is doubtful as it is in the overbought region of the market. The Fibonacci tool has indicated a possible reversal at level 1.272 Fibonacci extension or level 111.37.



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USD/JPY Is in a Sideways Move, Struggles To Break Level 109.20

USD/JPY Is in a Sideways Move, Struggles To Break Level 109.20

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bullish
The USD/JPY has continued its upward move. Presently, the Yen is facing resistance at level 109.20. Since March 8, the pair has been fluctuating below the resistance. The uptrend will resume if the resistance is breached. On March 9 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the Yen will rise to level 1.272 Fibonacci extensions or level 110.35. The pair is likely to reverse at the overbought region.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 69 of the Relative Strength Index period 14. The pair is approaching the overbought region of the market. The pair is not likely to rally on the upside. The 21-day SMA and 50-day SMA are sloping northward indicating the uptrend.


USD/JPY Medium-term Trend: Ranging
On the 4-hour chart, the pair has been in a sideways move since March 8. The bulls are yet to break the resistance at level 109.20. Today, the Yen is rising as price breaks above the level 108.80. The market is rising to retest the recent resistance level. A break above the resistance will signal the resumption of the uptrend. The pair has risen to level 108.95.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
USD/JPY pair is above the 79% range of the daily stochastic. It indicates that the pair is in the bullish momentum. It is approaching the overbought region of the market. The SMAs are sloping upward indicating an uptrend.

General Outlook for USD/JPY
The Yen has been trading below level 109.20. The pair has made over four unsuccessful attempts to break the recent high. Presently, the market is rising to revisit the previous highs. Unfortunately, the pair upward move is doubtful as the price indicators have indicated an overbought condition.


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USD/JPY Faces Rejection at Level 109.50, May Resume an Uptrend

USD/JPY Faces Rejection at Level 109.50, May Resume an Uptrend

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bullish
The USD/JPY has continued its upward move. The pair is rising to retest or break level 109.00. The uptrend will resume if level 109.50 is breached. On March 9 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the Yen will rise to level 1.272 Fibonacci extensions or level 109.73.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 72 of the Relative Strength Index period 14. This indicates that the pair is now in the uptrend zone and above the centerline 50. The Yen is in the overbought region of the market. The upward move is doubtful as price reaches the overbought region.

USD/JPY Medium-term Trend: Ranging
On the 4-hour chart, the pair is fluctuating between levels 109.00 and 109.50. On March 9 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the Yen will rise to level 1.272 Fibonacci extensions or level 109.92. The Yen is likely to rise but will reverse at level 109.92.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The USD/JPY pair is currently above the 40% range of the daily stochastic. It indicates that the pair is in the bullish momentum. The SMAs are sloping upward indicating an uptrend.

General Outlook for USD/JPY
The Yen upward move is facing resistance at level 109.50 since March 8. If the current resistance is breached, the price will rally to level 110.0. Meanwhile, the Fibonacci tool has indicated a possible rise and reversal at level 109.92.

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USD/JPY Resumes an Uptrend, May Face Rejection at Level 110.00

USD/JPY Resumes an Uptrend, May Face Rejection at Level 110.00

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bullish
The USD/JPY has continued its upward move. On March 8, the pair retested level 109.00 and was resisted. The price fell and resumed upward. On March 9 uptrend; a retraced candle body tested the 88.6% Fibonacci retracement level. The retracement indicates that the Yen will rise to level 1.1129 Fibonacci extensions or level 109.69 .

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 77 of the Relative Strength Index period 14. This indicates that the pair is now in the uptrend zone and above the centerline 50. The Yen is in the overbought region of the market. Sellers may emerge at the overbought region.

USD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the pair is in an upward move. The first uptrend of March 8 was repelled at level 109.00 resistance zone. The pair dropped to level 108.41 and made an upward correction. The Yen is moving upward after the second rejection.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The USD/JPY pair is currently above the 25% range of the daily stochastic. It indicates that the pair is in the bullish momentum. The SMAs are sloping upward indicating an uptrend.

General Outlook for USD/JPY
The Yen is on an uptrend but will soon reach bullish exhaustion. The pair is facing rejection at level 109.00 as the market reaches the overbought region. The Fibonacci tool has indicated that the Yen will rise to level 1.1129 Fibonacci extension or level 109.69.

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