USD/JPY Analysis - page 88

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In my view, the remaining Support today are at 112.3x - 112.20
Before that, there are short-term support which can be obstacles at 112.61/68
and 112.42

-- The resistance that has been tested is at 113.22, as a key breakout now.

 

USD/JPY dipped below 113.00 today, but reversed and started to retrace its losses. Now the pair is again below this level and indicators on the four hour time frame had lost directional strength. The price is developing below its moving averages and first resistance is provided by the flat 100-day SMA at 113.06.

 

USD/JPY rebounded from 112.80 but for the moment has not broken out above the resistance at 113.40, the pair remains range-bound.

 

As seen on the four hour time frame, the USD/JPY pair is struggling to preserve its early gains. The price is now looking for direction around the flat 100-day SMA and the bearish 20-day SMA. RSI and stochastic remain within negative territories, but both are directionless. There are no obvious signs for upcoming steeper recovery, as the pair will have to accelerate through 113.60 in order to enter into bullish ground, while a break below 112.75 would enlarge the risk toward the downside.

 
The USDJPY drops to the 55 day EMA at the 112.21 level as investors ran for cover under the Yen. The 55 day EMA may act as support, but below that level, its next support could be the 111.00 level. In case of a bullish pullback, the 113.00 level may act as resistance.
 
USD/JPY reached the support at 112.00 and rebounded from it. It has also formed a bullish pinbar on the H4 time frame at that support, so I think we may see a new move north.
 

USD/JPY broke below the 100-day and 200-day SMAs, as seen on the four hour time frame and the last one is providing immediate resistance around 112.30 area, as bulls were unbale  unable to advance beyond it. RSI and stochastic have corrected from extremely negative territories, but quickly resumed declines and still are developing in oversold territory, keeping the risk towards the downside.

 
Usd/Jpy is trading in a narrow range just above 112.00 level while the risk remains to the downside. The immediate support handle 111.80/90 seem strong, on the upside, resistance can be found around 112.50/60.
 
Yep, and it did go higher!  Attributed to jpy bonds market. Now awaiting a selloff for carry trade.
 
USD/JPY is range-bound around 112.00 but the bullish pinbar is still valid, let's see when the new move north will begin.
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