USD/JPY Analysis
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Thread: USD/JPY Analysis

  1. #1

    USD/JPY Analysis

    USD / JPY has accelerated the decline in Tokyo afternoon, when approaching the key support at 118.30 / 25, after falling sharply from 119.00. There is an option expiry of 118.50, which will see a strong bid soon reappear considering sales sharply visible. The Nikkei 225 is now down nearly 0.50% ahead of the weekend.

  2. #2
    Rebound at the price of USD / JPY was seen approaching the area at around 119.19. The indicator shows a bullish indication on the 1 hour chart. As a trading strategy, consider the resistance area at the range 119.19 to seek confirmation of the bearish signals as a sell signal with the potential targets in the range of 118.40. Beware if there is penetration to over 119.19 resistance because it can turn into a bullish intraday and likely will again bring the price moves up to 119.68 range.

  3. #3
    USD / JPY is currently trading at 118.66 to 118.80 high. and lows 118.53
    Support and Resistance
    Support : 118.5147, 118.3973, 118.2597
    Resistance : 118.7697, 118.9073, 119.0247
    Trend : Bearish
    fundamental analysys; USD / JPY has been opened with the weight on the back of GDP, putting the economy back on track after two quarters of contraction. Recovery will encourage the BoJ maintains a policy, given the already large QQE program

  4. #4
    USD / JPY traded flat at 118.51, after the previous print daily high and daily low at 118.64 at 118.24. Yen traded cautious against the greenback as traders refrained from making new positions ahead of the BoJ statement and US FOMC minutes to be released tomorrow. However, the pair may remain supported on increasing safe-haven bet amid rising tensions over the Greek situation after the second round of talks between eurozone finance ministers collapsed.

  5. #5
    Yen back to level 119 and stable against the US dollar in the Asian session, after a brief dip below 119 reaction to the stance of monetary policy the Bank of Japan (BoJ) are traders turning their focus on the FOMC meeting summary will be released today for further momentum on this pair.
    Support and Resistance
    Support : 118.932, 118.68, 118.481
    Resistance : 119.383, 119.582, 119.834

  6. #6
    USD / JPY still weak in the middle of the Asian session, slightly recovered from session lows, as the Japanese export data that is optimistic and weakening the greenback continued to weigh. Yen remain steadfast against the US dollar due to the strong Japanese export data show a sharp rise in January, ignoring the trade balance data gloomy overall

  7. #7
    The yen was slightly weaker in Asian session Friday morning though with no major economic data released, except for the manufacturing PMI (flash). Moreover, the Asian markets, particularly China, are still closed in order to Lunar New Year holiday. The only driver of Yen today is the statement of the Governor of the Bank of Japan (BOJ), Haruhiko Kuroda.

  8. #8
    USD / JPY opened at 119.11 in Tokyo after a summary of the BoJ meeting on January 20th / 21st meeting that was released before it did not bring a lot of stimulus to trade.
    Support : 119.0487, 119.0073, 118.9717
    Resistance : 119.1257, 119.1613, 119.2027
    Trend : Bullish

  9. #9
    The US dollar moved slightly to 118.92 yen positions after descending from a high level of 119.35, reached on Monday following a slide in US bond yields. US government bond yields fell on Monday as markets fear a mistake to take positions ahead of testimonials Yellen.

  10. #10
    USD / JPY may consolidate with downside bias for the time being, the negative side is expected to remain closed at 118.20. Although traders sell yen widely ahead of Fed Chairman Janet Yellen's testimony in front of Congress and approval of the extension of Greek debt encourage risk sentiment, broad-based selling in the dollar quickly occurs when testimony released Yellen did not give a clear indication of when the rate hikes that have been waiting for will happen, the next release of US consumer confidence bleak add further pressure to the pair

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