Usd/jpy - page 3
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The JPY seems to be holding to the psychological 90 point. Core Machinery Orders late Tuesday night EST should provide some impetus in moving traders one way or the other. I'm watching this closely as it could lead to some volatility over the next few days.
Investors were optimistic about a recovery in the Japanese economy and that the Asian region will recover before the rest of the world as data points continue to provide a positive outlook, this time Japan's machine orders report. The data were a surprise and the yen appreciated against the dollar for the second straight day.
The yen appreciated against the dollar on Friday testing bids around the 89.45 level. Fujii said that the Japanese economy is still very unstable stating that it's still too early to know if a second extra budget is needed. Next interest rate decision is Nov 19.
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Almost a 100 pips gap on opening - quite a reaction to electionsAlmost a 100 pips gap on opening - quite a reaction to elections
USDJPY weekly RSI has reach its highest high of its 14 week RSI.This is a long term bullish signal for USDJPY.
USD/JPY Intraday Technical Levels for December 19, 2012
TODAY's TECHNICAL LEVELS:
Resistance 3: 84.70.
Resistance 2: 84.53.
Resistance 1: 84.37.
Support 1: 84.16.
Support 2: 84.00.
Support 3: 83.83. DESCRIPTION:
Please, pay attention to the levels of support 3 (83.83) and resistance 3 (84.70). In general, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
More analysis - at instaforex.com
USD/JPY DAILY
The most recently confirmed up trendline for US Dollar / Japanese Yen has an ending point currently at 80.62. Expect prices to have some difficulty falling below this trendline. A break below this trendline (particularly on heavy volume) would be a bearish sign.
USDJPY intraday trade: Buy Target 84.4247 Stop Loss 83.7063
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 81.28.
The projected upper bound is: 85.38.
The projected lower bound is: 83.41.
The projecte closing price is: 84.40.
Note: these price projections are for reference only, and can be easily exceeded by the market.
Current rate for USDJPY is 99.7900 and they are keeping it steady. It seems that the 100 psychological level is about to be tested again (now that G20 "approved" what Japan central bank is doing to boost inflation)
All is set that it breaks 100
In my own opinion, the USDJPY is a currency pair I used to fear, but I now know how to handle it. This pair is moving in an indecisive manner. The dominant trend is bullish, but there is a great barrier to further bullish interest (the barrier is at 100.00). Whereas, the price is not supposed to go below the demand line at 98.50 – for this current bullish bias not to be in jeopardy.
In my own opinion, the USDJPY is a currency pair I used to fear, but I now know how to handle it. This pair is moving in an indecisive manner. The dominant trend is bullish, but there is a great barrier to further bullish interest (the barrier is at 100.00). Whereas, the price is not supposed to go below the demand line at 98.50 – for this current bullish bias not to be in jeopardy.
I agree with you. The long term trend of UsdJpy is bullish, but the psycological resistance of 100 will be strong for several weeks. After the violent rise, a strengthening is necessary, let’s say up to 92/94?