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Dollar-yen

USDJPY 107.00 targetThe US dollar is probing the downside against the Japanese yen currency after being strongly rejected from its key weekly pivot point. A sustained bearish breakdown below the 107.80 level is likely to see the USDJPY pair testing towards at least the 107.50 support level. The USDJPY pair also appears vulnerable to risk-off trading sentiment and a steep decline in global equity markets. The USDJPY pair is bearish while trading below the 108.23 level, sellers may test back towards the 107.50 and 107.10 levels. The USDJPY pair is only bullish while trading above the 108.23 level, key technical resistance remains at the 108.45 and 108.60 levels.
by OctaFX_Official
USDJPY Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=108.65. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=109.15. TP4: R2=109.35. Set the stoploss of these orders at breakout of S2=108.45. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=108.45. In this situation, there is an expectation to reach the target S3=107.8. Set the stoploss of reverse orders at breakout of S1=108.65. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity
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USDJPY holding gainsThe US dollar has made a strong upside break against the Japanese yen as the pair looks past the recent declines in global equity markets. The four-hour time frame shows a large bullish pattern, which holds one hundred and seventy point upside projection. Technical indicators are also turning higher and lending support to the recent range breakout in the USDJPY pair. The USDJPY pair is bullish while trading above the 109.60 level, key technical resistance is found at the 109.00 and 110.000 levels. If the USDJPY pair trades below the 108.60 level, key technical support is found at the 108.45 and 108.10 levels.
by OctaFX_Official
USDJPY 108.45 breakout neededThe greenback is once again firming against the Japanse yen currency, as the US dollar index climbs back above its key 200-day moving average. A sustained breakout above the 108.45 level is needed on an intraday basis to encourage further buying in the USDJPY pair. The key weekly upside targets for the USDJPY pair extended towards the 109.00 and 109.80 resistance levels. The USDJPY pair is only bearish while trading below the 108.45 level, key support is found at the 108.00 and 107.70 levels. If the USDJPY pair trades above the 108.45 level, key technical resistance is found at the 109.00 and 109.80 levels.
by OctaFX_Official
USDJPY risk-on boostThe US dollar has opened the new trading monthly strongly against the Japanese yen after a positive outcome from the G20 leaders meeting over the weekend. The 109.00 resistance level still remains the overall upside short-term objective for USDJPY bulls this week. USDJPY sellers may attempt to enter around this area, following the heavily bearish candle formation on the monthly time frame. The USDJPY pair is only bearish while trading below the 108.10 level, key support remains at the 107.80 and 107.00 levels. If the USDJPY pair trades above the 108.10 level, key technical resistance remains at the 108.44 and 109.00 levels.
by OctaFX_Official
Fed's patience snapped, Banks of Japan and EnglandThe Banks of Japan and England are announcing the results today. But, let's start by summarizing yesterday’s FOMC meeting. The Fed did not violate the established balance in the market and left the interest rate unchanged. As for the comments, then, as we expected, they turned out to be “dovish”. In particular, the phrase “to be patient”, which was the main motive of the Fed's statements lately, has disappeared. What does this mean? That the Fed is ready to cut the rate: 8 out of 17 FOMC members expect a rate cut by the end of 2019. The Bank of Japan has already announced its decision on monetary policy parameters, as we expected the parameters are left unchanged. Today we are expecting another decision from BoE. Well, the situation in the UK is tough enough, therefore the rate will be unchanged, on our point of view. We are not expecting the pound growth. So, any surge of volatility has to used to open counter positions ( in case of absence of clear fundamental contraindications ). What is that mean? If the pound jacks up, we will sell it in the area of daily hights. And if, on the contrary, it begins to sell, then we will look for opportunities to buy it. Once again, we do not expect the formation of directional movement in pound pairs following the meeting of the Bank of England. Meanwhile, in the UK, Mr. Johnson won the second round of the contest with the backing of 126 out of 313. And yesterday, Boris Johnson won a third successive ballot, with 143 votes. The remaining candidates are Michael Gove, Sajid Javid, and Jeremy Hunt. Our trading preferences for today: we will look for points for selling the US dollar primarily against the Japanese yen, as well as the euro, selling oil and the Russian ruble, as well as buying gold. As for the pound, we described the plan for working with it above.
TVC:DXYShort
by Trade24Fx