USD/JPY Analysis - page 82
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Sell USD/JPY: Target 110.55, Stoploss 112.05
Risk Reward Ratio is not good.
It's still bullish, I think it might reach 107.70 before it starts falling again.
same view here,market may go a it choppy before big move from here
as long as the price above S 110.9x then I will not expect USDJPY to go down further.
Sideways range for price consolidation is within current R 111.5x - and S 110.9x. Scalpers could wins here :)
It usually happen before price go to new direction. When breakout then it could easily reach 112.xx
Next S for small price correction and as key breakdown I saw at 110.8x
as a step before meet next S today at 110.24 - 110.17 - 110.07
At the beginning of the week teh USD/JPY pair is ranging around 111.00 figure, as the demand for safe-haven assets moderated. Technically the pair is showing neutral stance on the four hour time frame. The price is developing back and forth around horizontal and parallel 100-day and 200-day SMAs. RSI and stochastic started to recover but still are nortnot showing goodupward strength. Strong resistance area is located around 111.40 - 111.50 and in case bulls fight it, the pair might gain some upward traction. The downside is supported by the 110.85 level which if broken to below, would open doors for testing 110.40.
The USD/JPY pair is moving back and forth alongside with equities but is going to close the day around the 111.60 region. The current advance might continue as the bulls keep pressuring the highs and advanced above the 100-day and 200-day SMAs, both staying flat around 111.05 ont he four hour time frame. Ont he same chart stochastic reached overbought area, but the RSI is extending its advance slowly and currently is located at 65, which support additional gains. The pair now is facing immediate resistance around 111.80 price area, ahead of 112.14 (the August high).
The USD/JPY pair slumped today to 111.12 before retracing part of its losses and at the moment is trading around 111.25. Technically speaking the short term outlook remains bearish. On the four hour time frame the price is developing above its 100-day and 200-day SMAs, both converging within a tight 10 pips range. RSI and stochastic turned sharply lower and are supporting additional declines ahead. Immediate support is offered by the 110.90 level, which if broken will open doors for a steeper decline toward the 110.20 – 110.30 area.