USD/JPY Trading

[Crossy]

great trade calls lately although did suffer some pain on short
USD/JPY short @ 96.62 24/02/2009 TP @ 96.31 18/03/2009 and AUD/NZD short @ 1.2800 05/03/2009 TP @ 1.2423

USD to me is going to lose considerable value across the board.

[mabdullah]

A very strange pair USDJPY is. Even when USD was drowning , it started to rise with EURO and GBP. Weekly Chart looks bullish buy Monthly may soon have resistance at 102. So what this pair and play safe. regards
mubashir

[erik2966]

USD/JPY is soaring as the risk aversion that dominated the first three days of the week is swept away with one economic report. Prices have retraced more than half the week’s losses and are eying 91.52, the 61.8% retracement of the 92.32/90.22 decline. 90.80/85 is solid support on pullbacks near-term.

[AshFX]

Pulling up the hourly chart on USD/JPY, we can see how it's tested the (red) trendline on quite a few occasions over the past couple of days. Will it test that resistance again within the next few hours? My guess is yes - stochastics are pointing up and and AC is green, but I don't expect a breakout, due to higher timeframes indicating some further southern gains.

[MusicMan]

Well, I tried out my new EA on USDJPY for the end-of-week session. It was the first time I traded that pair and things went pretty well. I had to adjust some parameters to account for the spreads and digits differences, but after that, it was fine. I had different EAs trading EURJPY and AUDUSD at the same time. The amount of correlation was a bit surprising to me, especially EURJPY and AUDUSD, but all 3 pairs were caught in the down draft... which is cool for me, as the EAs don't care if the price action is up or down. :)

Still, why does AUDUSD go down when USDJPY goes down? That's just odd! I can understand EURJPY and USDJPY being correlated, as both base currencies have a similar underlying economic relationship to the yen, but what's up with AUDUSD and USDJPY? If anything, it seems like they would move either at random, or perhaps even opposite, relative to each other.

It will be interesting to see if this USDJPY / AUDUSD dance was just a coincidence, or if they really do show correlation.

MM

[tomo1]

there is always more to come!

[AshFX]

Yesterday we saw that the USD/JPY hit the 50% fib line to the pip, before bouncing down some pips. Then again today it’s just it the 38.2% line, and right now it’s sitting at the 23.6% level. Check out the attached image.

Ok, so what’s it gonna do over the next couple of days? Personally, I feel that what we’re going to see it a bouncing of this pair between the 38.2 and 0.0 fib levels. Not necessarily touching these extremes, but I’d surprised that it’d exceed these boundaries within this timeline.

The fact that the actual candle itself is a bullish candle, but has a long upper wick indicates indecision.

[adria]

I have seen that this pair is in a broad consolidation above 84.78 short-term low. Trading is situated below the 50- and 200-day SMA, currently projected at 92.60 and 91.06.

With yesterday's low at 90.80 the pair tested 90.60 support area and current bias is slightly positive for 91.92.

[jackie101]

The Yen weakened versus most majors after optimism of the stocks market in Europe and US, due to good economic data in Europe and positive words from Bernanke, led the investors to sell the Yen and to invest on stocks and commodities. The main resistance of the USD/JPY is at 89.20 level and as long it\'s trading below this level a short position is preferred, if it breaks this level the trend will be upwards, the next support is located at 86.20. Overall, USD/JPY traded with a low of 86.34 and with a high of 87.21.

[orni308]

Due to upcoming festival season the pair is going to trade flat, might be some strong signals next week....

[mocharifin]

How about the market of Yen in this month??
do anyone here know about this?

[orni308]

yen has been performing well against most of the currencies , there are chance of it continuing this trend till next week.

[vic84]

The pair has been on a negative trend and there chances of strong pull back, so there are very less left to trade, long term might be good.

[orni308]

The pair has been in situation where it is still finding its support , although there are chance of it getting higher but still should wait for any clear signs.

[vic84]

It has a good bullish sign after a while, it seems good for making short trades.

[piplaser]

In Asia, Japan will release the BOJ Press Conference. The US will release some economic data such as Natural Gas Storage, CB Leading Index m/m, Existing Home Sales, Philly Fed Manufacturing Index, and Unemployment Claims. So there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 124.54.

Resistance. 2: 124.30.

Resistance. 1: 124.05.

Support. 1: 123.76.

Support. 2: 123.51.

Support. 3: 123.27.

[orni308]

The pair has been trading very high and in the current trend the pair will continue to do so.

[piplaser]

In Asia, Japan will release data for Leading Indicators while the US is not expected to pablish any data today. So, there is a strong probability that USD/JPY will move with low volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 119.93.

Resistance. 2: 119.69.

Resistance. 1: 119.46.

Support. 1: 119.17.

Support. 2: 118.94.

Support. 3: 118.70.

[piplaser]

In Asia, Japan will not release any economic data, but the US will publish data on Wholesale Inventories m/m and Import Prices m/m. So, there is a strong probability that USD/JPY will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.52.

Resistance. 2: 120.27.

Resistance. 1: 120.04.

Support. 1: 119.75.

Support. 2: 119.51.

Support. 3: 119.29.

[piplaser]

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 123.50 and the second target at 123.75. In the alternative scenario, short positions are recommended with the first target at 122.75 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 122.50. The pivot point is at 122.90.

Resistance levels: 123.50 123.75 124

Support levels: 122.70 122.50 122.25

[orni308]

Both USDJPY has been trading strong and it seems that the pair might face a bit of resistance above these level, its good for making short trades.

[Meeru]

USD/JPY: The pair is at the resistance levels of 105.60 and 106.50 - See more at:

Review and dynamics
After the statements made of Japanese Prime Minister Mr. Shinzo Abe' about introduction of the new economic stimulus program for 28 trillion yen, the Yen fell sharply in the market, while the pair USD/JPY soared up to 106.50. However, later the pair fell and at the beginning of the European session was at the resistance level of 105.60 (ЕМА50 on the daily chart and Fibonacci 23.6% to the decrease since June 2015 from the level of 125.65).

On the daily and weekly charts the pair is in the descending channels, while on the weekly chart technical indicators have reversed towards the long positions.

On 4- hour chart the price is in the ascending channel with the upper limit at the level of 109.00 and above support level of 105.00 (ЕМА200), the indicators OsMA and Stochastic give signals for long positions.

The pair consolidated above the key support levels on the monthly chart (ЕМА200, ЕМА144), which cross the level of 104.00.

Our opinion
If the pair will maintains the level above 104.00 and 105.00 before interest rate decision by the Bank of Japan on Friday at (02:00 GMT), the rise in the pair it is likely to continue.

Medium term rise in the pair USD/JPY is possible after break down of the resistance levels of 106.50 and 107.35 (highs of July) and 107.90 (ЕМА200 on the weekly chart).

The rise in the pair above the level of 110.10 (ЕМА144 on daily and weekly charts, Fibonacci 38.2) can trigger further growth in the pair USD/JPY up to levels of 111.25 (ЕМА200 on the daily chart) and 113.00 (Fibonacci 50.0%).

Anyway, further movement in the pair will largely depend on the decisions by the bank of Japan and the US Fed, investors risk appetite and optimism on the world financial markets.

The yen and gold remains are still safe-haven assets amid the ongoing instability in global financial markets.

Alternative scenario suggests that the pair USD/JPY will break down support level of 104.00 and go below the level of 100.60 in the descending channels on the daily and weekly charts with the lower limit at the level of 95.00.

Support levels: 105.00, 104.40, 104.00, 103.60, 102.60, 102.00, 101.50, 101.00 and 100.60.
Resistance levels: 105.60, 106.50, 107.35, 107.90, 110.10 and 111.25.

Trading tips
Buy Stop: 106.10. Stop Loss: 105.50. Take-Profit: 106.50, 107.35, 107.90, 108.50 and 110.10.
Sell Stop: 104.90. Stop Loss: 105.40. Take-Profit: 104.40, 104.00, 103.60, 102.60, 102.00, 101.50, 101.00 and 100.60. - See more at:

[xtreamforex]

USD/JPY
Technical Overview:
Prev. Close 104.83
Open 104.83
Day’s Range 104.67 - 104.97
52 wk Range 99.08 - 123.69
1-Year Return - 13.13%

Support and Resistance:
Daily Camarilla Technical analysis shows USD/JPY pair may find the immediate support at 104.73 below which 104.64 and 104.55 could be tested. On the other side the immediate resistance 104.91. A break beyond the last, doors will open for a test of 105.00 and from there to 105.09.
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