USD/JPY Analysis - page 80

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The USD/JPY pair fell from the highs on the risk-off mood. Currently the price is hovering around 111.00 and on the four hour time frame is struggling with the flat 200-day SMA. Technical indicators on the same chart have turned south and stochastic is showing stong bearish momentum and is nearing extreme negative territory. Overall, the risk is skewed to the downside and a steeper decline will be clear on a downward acceleration through 110.90.

 

USD/JPY feel today to its lowest levels this week but is trying to recover towards the 111.00 handle. Technically speaking the short-term outlook remains bearis. On the four hour time frame the price is developing below its 100-day SMA for the first time this week, RSI and stochastic extend their slumps within negative territory with almost vertical slopes, indicating that selling interest remains strong.

 
The pair was undecided all week, next week we should finally expect a breakout to the upside above 111.80, I think.
 
USD/JPY is retesting the resistance at 111.00 and I think it will break out above the level to continue rallying to 111.80.
 
There was a breakout above 111.00 as I thought there would be, in my opinion it will soon rally to 111.80.
 

The greenback is the main winner amid the global concerns that are taking over the financial markets, while teh Japanese Yen's gains are contained by firming US Treasury yields despite risk-averse environment.
The USD/JPY pair currently is trading around  111.45, keeping short-term bullish stance. , On the four hour time frame the price is developing above its moving averages which has lost directional strength. Indicators have entered into extreme overbought territory but are are staring to lose upward strength. The 111.50 level represents strong static resistance area and to keep the current bullish momentum the pair will have to accelerate through it. Otherwise below 111.20 the upward potential will fade away and a steeper decline will be at sight.

 
Better than expected US data made Usd/Jpy bounce back and find immediate resistance level at 111.530, the pair looks bullish short term, next important resistance lies at 111.82.
 
The USDJPY tries to come out of the current consolidation, but it has not been able to gain enough bullish momentum. For now the 111.00 level could keep acting as support and the 112,14 level could act as resistance.
 
The pair is almost at 111.80, in my opinion there will be a breakout above that level eventually.
 
At this time, today I prefer to wait support 110.58/51 and 110.24 for buy back with some price correction there.
Who knows key breakdown 111.40/35 will be broken today :)
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