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USDJPY: Analysis & Trading Plan hey traders, usdjpy is currently consolidating on a key support level 108.5. on a daily this horizontal support matches perfectly with rising support of a parallel channel . on 4H the pair has formed a descending triangle formation. to identify a further market direction be focused on an occasional breakout of a triangle. bearish breakout will trigger selling reaction and with high probability, we will see a continuation downwards to 108.0
Short
by VasilyTrader
3
USDJPY 108.20 major supportThe US dollar remains under downside pressure against the Japanese yen, following the release of more weak data from the US economy. From a technical perspective, the USDJPY pair is extremely weak while trading below the 108.60 support level. Going forward, a break under the 108.20 level exposes the USDJPY pair to heavy technical selling towards the 107.50 level and possibly lower. • The USDJPY pair is only bullish while trading above the 108.90 level, key resistance is found at the 109.15 and 109.40 levels. • The USDJPY pair is only bearish while trading below the 108.90 level, key technical support is found at the 108.20 and 107.50 levels.
by OctaFX_Official
1
USDJPY bearish under 108.90The US dollar has fallen back under the 108.90 level against the Japanese yen currency, making the pair technically bearish over the short-term. Continued weakness under this key area could provoke further losses towards the 108.20 level. The USDJPY pair could capitulate to technical selling if the 108.20 support level is broken. • The USDJPY pair is only bullish while trading above the 108.90 level, key resistance is found at the 109.40 and 109.65 levels. • The USDJPY pair is only bearish while trading below the 108.90 level, key technical support is found at the 108.20 and 107.50 levels.
by OctaFX_Official
USDJPY 110.00 possibleThe US dollar continues to target towards 110.00 level against the Japanese yen as the greenback remains well-supported across the board. The recent high around the 109.60 level provided a signal that the USDJPY intends to push higher over the shor-term. The 110.90 level could be the overall upside objective for medium-term bulls if the 110.00 resistance level is overcome. • The USDJPY pair is only bullish while trading above the 109.30 level, key resistance is found at the 109.60 and 110.0 levels. • The USDJPY pair is only bearish while trading below the 109.30 level, key technical support is found at the 109.15 and 109.00 levels.
by OctaFX_Official
ORBEX: USDJPY Could be Heading For Wave 3 Completion Higher!USDJPY could move higher towards the 1.618x Fibonacci extension of the latest bullish minute pattern started on 107.88. This would validate the recent breakout above 109.32 as well as the intermediate degree structure which has a medium-term target near 114.55. The pair, however, could have just ended the intermediate move to the upside at the 2x Fibonacci extension near 109.62. That would assume that the last upside move from 106.50 upwards is an ending triangle, and that the current intermediate degree labeling is invalid! Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice.
by Orbex
USDJPY trendline watchThe US dollar has moved back towards key trendline resistance against the Japanese yen currency, although price has so far rejected the upside attack. The USDJPY pair is still vulnerable to further downside while trading below the October monthly price high. Overall, Sino-US trade news is dictating the moves in the USDJPY pair, the short-term trend is now neutral. • The USDJPY pair is only bullish while trading above the 109.00 level, key resistance is found at the 109.30 and 109.60 levels. • The USDJPY pair is only bearish while trading below the 109.00 level, key technical support is found at the 108.20 and 107.90 levels.
by OctaFX_Official
USDJPY sell ralliesThe US dollar remains vulnerable to further losses against the Japanese yen currency as market sentiment towards Sino-US trade talks is fragile. The USDJPY pair is likely to suffer a strong decline once a confirmed breakout below the 107.90 level occurs. Going forward, selling any rallies towards the 109.00 resistance level appears to be the best short-term trading strategy. • The USDJPY pair is only bullish while trading above the 109.00 level, key resistance is found at the 109.30 and 109.60 levels. • The USDJPY pair is only bearish while trading below the 109.00 level, key technical support is found at the 107.90 and 107.50 levels.
by OctaFX_Official
USDJPY 107.50 possibleThe US dollar remains under pressure against the Japanese yen, following reports that the first phase of the Sino-US trade deal could be delayed until next year. The USDJPY pair is increasingly likely to test towards the 107.50 support level, with the 106.90 level extended weekly support. Going forward, USDJPY traders have few reasons to be bullish while price trades under the 109.00 level. • The USDJPY pair is only bullish while trading above the 109.00 level, key resistance is found at the 109.30 and 109.60 levels. • The USDJPY pair is only bearish while trading below the 109.00 level, key technical support is found at the 107.50 and 106.90 levels.
by OctaFX_Official
USDJPY possible breakdownThe US dollar is starting to appear weak against the Japanese yen currency, following multiple technical rejections and bearish lower highs. The USDJPY pair is likely to target the 107.50 level at a minimum this week if a breakout below the 108.20 level occurs. Going forward, only a sustained breakout above the 109.30 level can negate the bearish outlook surrounding the USDJPY pair. • The USDJPY pair is only bullish while trading above the 109.30 level, key resistance is found at the 109.60 and 110.00 levels. • The USDJPY pair is only bearish while trading below the 109.30 level, key technical support is found at the 108.20 and 107.50 levels.
by OctaFX_Official
Will USD/JPY extend its falls? USD/JPY has been mixed amid trade and central bank headlines. The FOMC’s meeting minutes and ongoing trade talks are set to determine the tone in short-term. Hopes for an accord – especially one that includes rolling back tariffs – will probably be cheered and send USD/JPY higher. Further snags, bumps, and hardship may all send the currency pair lower. Tweets by Trump of course will cause jitters. On daily chart the price rebound from 38,2% Fibo level (on the fall from 114.55 to 104.45) and testing the trend line of support since August (now as resistance). Next key level for watching is at 108.24, which provided support in October and converges with the 50-day SMA. On the downside, break of 108.24 will revive the case of short-term reversal. Intraday bias will be turned back to downside for testing 107.88 support to confirm. In order the uptrend to be resumed, the price need to break above the key resistance area 109.00. In that region are located the upper border of H4 Bollinger Bands, the resistance line of the bearish channel on 4-hour chart and 200-day SMA. It is followed by 109.30, a double-top seen in recent months. On the upside, break of 109.48 resistance will resume whole rise from 104.45 and target trend line resistance (now at 111.75 on weekly chart).
by ForexTrendline
USDJPY upside failureThe US dollar has come back under pressure against the Japanese yen currency after suffering a heavy technical rejection around the 109.00 level. The balance of power is with sellers while price trades below the rising trendline on the daily time frame. Overall, a break below the 108.20 support level exposes the USDJPY pair to further losses towards the 107.50 level. • The USDJPY pair is only bullish while trading above the 108.68 level, key resistance is found at the 109.00 and 109.40 levels. • The USDJPY pair is only bearish while trading below the 108.68 level, key technical support is found at the 108.20 and 107.50 levels.
by OctaFX_Official
USDJPY trendline breakThe US dollar is still trading on the defensive against the Japanese yen currency as the pair continues to fall back from the 109.00 resistance are. Major trendline support for the USDJPY pair has now been broken and is currently located at around the pivotal 108.60 level. Going forward, the USDJPY pair could fall towards the 107.50 level if the 108.20 support level is broken. • The USDJPY pair is only bullish while trading above the 108.90 level, key resistance is found at the 109.60 and 110.00 levels. • The USDJPY pair is only bearish while trading below the 108.90 level, key technical support is found at the 108.20 and 107.50 levels.
by OctaFX_Official
USDJPY testing lowerThe US dollar is trading lower against the Japanese yen currency after a technical break below the 108.90 support level. Further intraday losses towards the 108.20 level remain possible while the USDJPY pair trades below the important 108.90 level. Overall, sustained gains above the 109.30 level are needed to encourage a technical test of the 110.00 resistance level. • The USDJPY pair is only bullish while trading above the 108.90 level, key resistance is found at the 109.60 and 110.00 levels. • The USDJPY pair is only bearish while trading below the 108.90 level, key technical support is found at the 108.60 and 108.20 levels.
by OctaFX_Official
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USDJPY 110.00 still possibleThe US dollar is increasingly bullish against the Japanese yen currency, following a sharp bounce from the pivotal 108.60 support level. The USDJPY pair is likely to test towards the 110.00 level if the 109.60 resistance level is overcome later today. Overall, an even stronger rally towards the 110.80 level is still possible, as the USDJPY pair continues to exhibit bullish price action. • The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.60 and 110.00 levels. • The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 108.20 and 107.90 levels
by OctaFX_Official