USD/JPY April-June 2017 Forecast: correction to the ranging; 103.79 support is the key level for the possible bearish reversal
W1 price is on secondary correction within the primary bullish market condition: the price is breaking the upper border of Ichimoku cloud to below to be reversed to the ranging market condition waiting for the direction of the bullish trend to be resumed or the bearish reversal to be started.
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Sergey Golubev, 2017.04.01 09:59
USD/JPY - "Next week brings a slate of medium-importance announcements out of Japan: Manufacturing PMI’s are set to be released on Sunday, Services PMI’s are released on Wednesday, and Consumer Confidence on Thursday. Each of these can add drive to JPY given the implication around stronger data bringing stronger inflation which will, eventually, begin to move the BoJ away from dovish accommodation. But more likely as primary drivers next week will be the larger global macro trends that have developed as questions around the ‘Trump Trade’ continue to circulate."
Sergey Golubev, 2017.04.05 06:10
USD/JPY - bearish ranging within narrow s/r levels (based on the article)
Daily price is located below Ichimoku cloud in the bearish area of the chart: the price is on ranging within 112.19/110.10 narrow support/resistance levels waiting for the direction of the strong trend to be started.
"The former level is being tested now and January lows near 112.60 still present a hurdle.” USD/JPY ended up rolling over between 111.60 and 112.60 (high was 112.20). The rally failing in the middle of congestion doesn’t bode well for near term upside but price is still hanging on to a parallel. Failure to gain traction now (above this parallel) opens up 108.55."
Japanese Yen, Gold Prices Rise as US Strikes Syria
noorad sharafi, 2017.04.07 05:00
Hi noorad sharafi,
About the name of your thread/post above - we do not know yet. It was not reported that this situation was strongly affected on the market ... because exactly same situations were many times between those two countries during the past months so nothing new here.
As to the daily movement so there is no any significant movement for now: the price is still on ranging within 112.19/110.17 support/resistance levels waiting for the strong trend for the secondary rally to be started or for the primary bearish trend to be resumed.
usd/jpy channel analysis
fxtelegram_, 2017.04.10 09:07
The first target under 111.60 may be 110.60 and the next target 110
Sergey Golubev, 2017.04.14 15:50
Intra-Day Fundamentals - EUR/USD and USD/JPY: U.S. Consumer Price Index
2017-04-14 13:30 GMT | [USD - CPI]
if actual < forecast (or previous one) = good for currency (for USD in our case)
[USD - CPI] = Change in the price of goods and services purchased by consumers.
From official report:
EUR/USD M5: 18 pips range price movement by U.S. Consumer Price Index news events
USD/JPY M5: 28 pips range price movement by U.S. Consumer Price Index news events
Sergey Golubev, 2017.04.15 10:43
Weekly Fundamental Forecast for USD/JPY (based on the article)
USD/JPY - "BoJ Governor Kuroda warned the central bank will remove the non-standard measures once it reaches the 2% target for inflation, and went onto say that a further deprecation in the Yen would make it easier to achieve the goal as the economy stands at full-employment. Even though the BoJ keeps the door open to further embark on its easing-cycle, the comments suggest the BoJ is in no rush to implement more unprecedented measures, and the central bank may toughen the verbal intervention on the local currency as officials strive to achieve the inflation-target over the policy horizon."
upul siriwardhana, 2017.04.21 16:54
There is a flag pattern appear on USDJPY 30 m chart.up sloping two parallel trend lines that act as support & resistance for the price until the price breaks out. downward trend is upcoming on next hours.