USD/JPY Analysis - page 93

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USD/JPY dropped heavily after had the impressive high at 113.14 to a low at 112.81. Currently the pair is trading few pips below the 113.00 handle, but I think the short-term remains bullish as long as holds above 112.65.

 
The USDJPY may have found a good resistance at the 113.00 level and it if keeps falling, the 112.30 level where we can find the 55 day EMA may act as support. Above the 113.00 level, its next resistance could be the 114.00 level.
 
The pair reached 113.40 as I thought it would and formed a bearish pin bar there. I think it may be time for a correction.
 
The USDJPY consolidates around the 112.69 level from where it may head in any direction, to the upside, the 113.00 level may act as resistance and the 112.30 as support.
 
The correction did begin as I thought it would and I think there will be a depreciation to 112.00.
 

USD/JPY pushed above the 113.00 handle and the short trem outlook looks neutral to bullish. On the four hour time frame the price is developing above all its flat moving averages. RSI is slowly moving to north with current level 55. Stochastic is showing strong upward momentum above its mid-line. Next bullish target is seen at 113.40 (31st October’s high).

 

USD/JPY closed the week at 113.18. For the upcoming week support sits at the 113.00 level, which is broken will bring next target at 112.50. In case of storng bearish sentiment the focus witjj turn to 112.00 and then lower towards 111.50.  The upside offers first resistance at the 113.50 level. Above this one the attention will be turned to 114.00, and then we may expect a possible move towards the 114.50.

 


Friday tested Wednesday's  high and failed. A drop to 112.83 is expected before resuming upwards

112.50 is key support. A sustained break of that level will see sellers pushing for the rising trend line sitting currently just above the 111.50 level

 
The pair is forming a double top around 113.35, let's see whether there will be another depreciation.
 

USD/JPY is extending its sideways movement today and is hovering around 113.00 level. The upcoming day will bring sure direction for the pair, having ahead the critical midterm elections in the USA.

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