The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD/JPY is trading at 111.12, losing 0.71%. I believe that support is now at 111.02, the low of Friday's trading, and the resistance is likely at 112.88, Monday's high.
The US dollar recorded a volatile session against the Japanese yen on Monday. The currency pair opened at 111.08 and the price managed to break the first support at 111.00 twice. Eventually, the pair finished at 111.08 and if the bear trend continues, we can expect a new test of the first support level at 111,000.
Key levels to watch for:
Support: 111.00; 109.50; 108.40;
Resistance: 114.00; 115.40.
The US dollar recorded a rise against the Japanese yen on Tuesday. The session started at 111.08 and the dollar added 80 pips. Daytime extreme values were reached at 110.82 and 111.95, respectively. The four-hour chart suggests an increased interest of the bulls to the couple, with a more significant goal of 114.00.
The US dollar recorded a decline against the Japanese yen on Wednesday. The session started at 111.88 and finished 72 pips lower. Daytime extreme values were reached at 112.18 and 111.05 respectively. If the bearish trend persists, the pair will most likely test the first support at 111.00.
GBPJPY up or down the master, hopefully down to profit.
The US dollar recorded a modest rise against the Japanese yen on Thursday. The currency pair opened at 111.16 and the price bounced back from 111.00. Eventually, the pair finished at 111.22 and if the bearish trend kept the most likely the dollar would be able to break the support at 111.00.
After two successive days for the dollar, yesterday the yen fully offset losses, taking 68 pips out of the US dollar. At the beginning of the day one dollar was quoted at 110.72 yen, and at the end of the session the rate was 110.04. Extreme values for the day were recorded at 109.85 and 110.82 respectively.
Support: 109.63; 108.30;
Resistance: 111.20; 112.75; 114.50.