CATEGORY USD/JPY

No Image

USD/JPY crumbles below 118.00

FXStreet (Córdoba) – USD/JPY came under strong pressure amid a broad USD sell-off and lost almost 200 pips since the beginning of the American session, breaking below several support levels.

USD/JPY plummeted and dipped below the 118.00 level, as stocks losses added momentum, to hit a fresh 2-week low of 117.50 before finding support. Having recovered from session lows, USD/JPY is currently trading at 118.05, still recording a 1.6% daily loss.

USD/JPY technical levels

As for technical levels, next supports are seen at 117.50 (Feb 3 low), 116.46 (Jan 21 low) and 115.96 (Jan 20 low). On the other hand, immediate resistances could be faced at 120.00/03 (psychological level/Feb 3 high), 120.23 (50-day SMA) and 120.58 (100-day SMA).

USD/JPY came under strong pressure amid a broad USD sell-off and lost almost 200 pips since the beginning of the American session, breaking below several support levels.

(Market News Provided by FXstreet)

READ MORE 

No Image

USD/JPY is getting bumpy

A high wave candle on the daily USD/JPY chart augurs that the upward power of this market is dissipating.Closing the day below the 21-day simple moving average, this pair has thrown in a large bodied candlestick, with both upper and lower wicks summing…

READ MORE 

USD/JPY holds above 123.00

FXStreet (Córdoba) – USD/JPY pulled back from an 11-day high scored earlier on the day as the greenback gave up ground over the last hours amid profit taking.

USD/JPY reached a peak of 123.33, last seen Nov 19, as month-end flows underpinned the dollar, although it lost momentum afterward. With the subsequent pullback being contained by the 123 mark, USD/JPY is currently trading at 123.12, still up 0.27% on the day.

Today, a soft series of US data did little to affect USD/JPY price action as main focus remains on Friday’s nonfarm payrolls report, which will be the last key indicator ahead of December’s Fed meeting.

USD/JPY levels to watch

In terms of technical levels, next resistances are seen at 123.74 (Nov 18 high), 124.15 (Aug 20 high) and 124.45 (Aug 19 high). On the flip side, supports could be faced at 122.67 (Nov 30 low), 122.20 (Nov 16 low) and 121.77 (100-day SMA).

USD/JPY pulled back from an 11-day high scored earlier on the day as the greenback gave up ground over the last hours amid profit taking.

(Market News Provided by FXstreet)

READ MORE 

USD/JPY extends correction to 123.00

FXStreet (Córdoba) – USD/JPY bounced to the downside after being unable to hold above 123.50. Initially dropped to Friday’s closing price at 123.20 and then dropped further hitting a fresh daily low 122.95. Currently is hovering around 123.00, falling for the first time after rising during the previous five trading days.

Stocks are falling sharply in Wall Street. The Dow Jones is losing 1.25% and the Nasdaq declines 1.32%. Despite the decline in equities, US bond yields are rising.

Risk aversion favored the yen in the market; it gained momentum and trimmed loses versus the Pound and the Euro while it printed new highs against commodity currencies.

USD/JPY: just a correction

So far, today’s decline should be considered a bearish correction. Last week it gained almost 300 pips and broke medium term resistance levels. Technical indicators show overbought conditions favoring a correction, but as long as the price remains above 121.70 – 122.00, the outlook is likely to continue to favor the upside.

USD/JPY bounced to the downside after being unable to hold above 123.50. Initially dropped to Friday’s closing price at 123.20 and then dropped further hitting a fresh daily low 122.95. Currently is hovering around 123.00, falling for the first time after rising during the previous five trading days.


(Market News Provided by FXstreet)

READ MORE 

USD/JPY: bulls looking for a break of 123.80 - FXStreet

USD/JPY stretches to fresh daily highs

FXStreet (Córdoba) – USD/JPY advanced to fresh highs for the day as the greenback pick up pace over the last minutes, although it remains well within its last week range.

USD/JPY broke above the 100-hour SMA and reached a daily peak of 120.77 in recent dealings. At time of writing, the pair was trading at 120.70, recording a 0.30% rise since opening.

Despite intraday volatility, USD/JPY continues to move back and forth between 120-121.50 unable to set longer-term directions.

USD/JPY levels to watch

In terms of technical levels, next resistances for USD/JPY are seen at 121.00/03 (psychological level/200-day SMA), 121.47/0 (Oct 30 & 26 highs), and then 121.77/80 (61.8% Fibo retracement of 125.27-116.16/100-day SMA). On the flip side, supports could be faced at 120.15 (50-day SMA), and 120.00 (psychological level/Oct 28 low) ahead of 119.60 (Oct 22 low).

USD/JPY advanced to fresh highs for the day as the greenback pick up pace over the last minutes, although it remains well within its last week range.

(Market News Provided by FXstreet)

READ MORE 

USD/JPY: bulls looking for a break of 123.80 - FXStreet

USD/JPY: no response to rise in Treasury yields

FXStreet (Mumbai) – The moderate uptick in the treasury yields failed to strengthen USD/JPY, which now trades lacklustre around 120.50 levels.

Yields rise, USD trims gains

The 2-yr yield, which mimics rate hike bets gained one basis points, while the 10-yr yield gained more than two basis points. However, the USD isn’t impressed as the pair turned lower from the high of 120.70 to trade around 120.50 ahead of the US data.

The focus is now on the US ISM manufacturing report, which could show the activity stalled in October. Apart from the data, the sentiment on Wall Street could affect demand for the safe haven Yen.

USD/JPY Technical Levels

The immediate resistance is seen at 121.03 (200-DMA0, above which gains could be extended to 121.48 (Friday’s high) followed by a rise to 121.81 (100-DMA). On the other side, support is seen at 120.16 (50-DMA) and 120.00, under which losses could be extended to 119.81 (38.2% of 125.856-116.082).

The moderate uptick in the treasury yields failed to strengthen USD/JPY, which now trades lacklustre around 120.50 levels.

(Market News Provided by FXstreet)

READ MORE 

WP: 29.57MB | MySQL:20 | 0.593sec