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USDJPY heavily bearish below 108.10 levelThe US dollar remains under intense downside pressure against the Japanese yen currency in early Thursday trade, due to a heavy technical sell-off in the pair and increasing fears about a global economic slowdown. The USDJPY pair is now trading below the key May 2018 trading low, at 108.10, and is vulnerable to further losses while below this important area. Only a strong move back above the 110.00 resistance level can negate short-term bearish pressures. The USDJPY pair is heavily bearish while trading below the 108.10 level, key technical support is now found at the 107.00 and 106.35 levels. If USDJPY pair trades above the 108.10 level, a technical correction towards the 108.80 and 110.00 levels remains possible.
by OctaFX_Official
USDJPY back under downside pressureThe US dollar is once again back under downside pressure against the Japanese yen, as safe-haven currencies remain in strong demand. The USDJPY has now erased Thursday’s gains and is likely to trade lower while price holds below the 110.80 level. The MACD indicator on the daily time frame is also showing that the USDJPY pair is likely to continue to trend lower. The USDJPY pair is intraday bearish while trading below the 110.80 level, key technical support is found at the 110.26 and 109.76 levels. If USDJPY pair trades above the 110.80 level, buyers may test towards the 111.35 and 110.75 levels.
by OctaFX_Official
2
USDJPY only intraday bullish above 111.00 levelThe US dollar is attempting to move higher against the Japanese yen currency after the pair staged a strong recovery above the 111.00 level on Wednesday. US equity markets made a strong recovery yesterday, which helped to boost overall risk-sentiment in financial markets. The MACD indicator on the four-hour time frame is starting to trend higher, pointing to further intraday strength in the USDJPY pair. The USDJPY pair is intraday bullish while trading above the 111.00 level, key technical resistance is found at the 111.40 and 111.88 levels. If USDJPY pair trades below the 111.00 level, sellers may test towards the 110.80 and 110.26 levels.
by OctaFX_Official
USDJPY Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=110.9. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=111.45. TP4: R2=111.75. Set the stoploss of these orders at breakout of S2=110.7. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=110.7. In this situation, there is an expectation to reach the target S3=110.05. Set the stoploss of reverse orders at breakout of S1=110.9. 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
1
USDJPY 109.76 level now key supportThe US dollar remains under downside pressure against the Japanese yen on Wednesday, following Monday’s steep drop towards the 110.26 support level. The sentiment surrounding the USDJPY pair is extremely bearish while price trades below the 110.80 level. The 109.76 support level is the most important technical level to watch if the 110.00 support level is broken. The USDJPY pair is strongly bearish while trading below the 110.80 level, key technical support is now found at the 110.26 and 109.76 levels. If USDJPY pair trades above the 110.50 level, buyers may test towards the 110.80 and 111.00 levels.
by OctaFX_Official
USDJPY approaching oversold levelsThe US dollar remains under downside pressure against the Japanese yen, with the risk-sensitive pair trading at its weakest level since October this year. The USDJPY pair may have reached its short-term bearish objective, as the latest decline extended below the 111.00 level. Technically, the MACD and RSI indicators on the four-hour time frame have reached extremely oversold levels. The USDJPY pair is strongly bearish while trading below the 111.30 level, key technical support is found at the 111.00 and 110.50 levels. If USDJPY buyers move price above the 111.30 level, a technical correction towards the 111.70 and 112.00 levels remains possible.
by OctaFX_Official
USDJPY UNDER RISING WEDGEThe US dollar is reversing earlier gains against the Japanese yen currency after technical failure before the important November swing-high. The USDJPY has fallen outside of a well-defined rising wedge pattern on the one-hour timeframe, putting further bearish pressure on the pair. If price continues to trade lower, we may see the formation of a bearish head and shoulders pattern. The USDJPY pair is intraday bearish while trading below the 113.50 level, key support is found at the 112.90 and 112.50 levels. If the USDJPY pair trades above the 113.50 level, key resistance is found at the 113.80 and 114.00 levels.
by OctaFX_Official
USDJPY - SUPPLY & DEMAND ANALYSISHi traders. Whenever you are looking at a technical level, always ask yourself the following: - Am I buying at a potential bargain/wholesale/discount price? (supply or demand zones) - Why is there more likely to be more supply/demand orders at that area? (new traders entering/traders taking profit) - What are the underlying fundamental/sentiment drivers that should push price in my favour? (interest rates, business cycle, risk on/risk off) If all 3 are in your favour, take the trade, manage your risk and go for more than you've risked. Always remember this trade is only 1 trade in the next thousand you're going to take. Process over outcome!
Education
by leonrowe
1
USDJPY Intraday ForecastAs we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=113.4. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=112.9. TP4: S2=112.6. Set the stoploss of these orders at breakout of R2=113.5. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of R2=113.5. In this situation, there is an expectation to reach the target R3=114.05. Set the stoploss of reverse orders at breakout of R1=113.4. Set the stoploss of reverse orders at breakout of R1=0.996. 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!
Short
by ForecastCity
USDJPY AWAITS G20 SUMMIT OUTCOMEThe US dollar is trading with a cautious tone against the Japanese yen, as financial market participants await the outcome of US President Trump’s meeting with Chinese President Xi Jinping at the G20 Summit. A bullish outcome from the leaders meeting will likely support heavy USDJPY buying, while a bearish outcome should put further downside pressure on the USDJPY pair. The USDJPY pair is only bullish while trading above the 114.02 level, key resistance is found at the 114.54 and 115.00 levels. If the USDJPY pair trades below the 113.15 level, key technical support is found at the 112.60 and 111.30 levels.
by OctaFX_Official
USDJPY TRIPLE TOP PATTERN IN FOCUSThe US dollar is reversing earlier gains against the Japanese yen currency, following a dovish speech from Federal Reserve Chair Jerome Powell on Wednesday. The USDJPY pair was rejected from key trendline resistance, at 114.02, creating a bearish triple-top pattern formation. A strong move below the 113.15 level may spark technical selling towards rising trendline support. The USDJPY pair is only bearish while trading below the 113.15 level, key support is found at the 112.60 and 112.28 levels. If the USDJPY pair holds above the 113.15 level, key technical resistance is found at the 113.60 and 113.79 levels.
by OctaFX_Official
USDJPY BULLS NEED TO CLEAR 114.19The US dollar continues to press higher against the Japanese yen currency, following a confirmed technical break above the 113.15 level. Going forward, buyers need to break above the 114.19 level to negate the recent bearish double-top created earlier this month. If the USDJPY pair is rejected from current trading levels, a further technical test of the 112.79 support level appears likely. The USDJPY pair is strongly bullish while trading above the 113.15 level, key resistance is found at the 114.19 and 114.54 levels. If the USDJPY pair trades below the 113.15 level, key technical support remains at the 112.79 and 112.53 levels.
by OctaFX_Official
USDJPY MAY HAVE REACHED CORRECTIVE TARGETThe US dollar is consolidating around the 113.00 area against the Japanese yen, after finding strong technical resistance from the 113.15 level. If buyers fail to create a new higher price high the USDJPY pair may come under selling pressure, ending the recent corrective move higher. Buyers need to maintain price above the 112.79 level to maintain bullish pressure on the USDJPY pair. The USDJPY pair is only bullish while trading above the 112.79 level, key technical resistance is found at the 113.15 and 113.40 levels. If the USDJPY pair trades below the 112.79 level, sellers will likely test the 112.30 and 111.90 support levels.
by OctaFX_Official
5
USDJPY TRADING BELOW KEY SUPPORTThe US dollar is now trading below the 112.54 support level against the Japanese yen currency as global equity markets come under heavy selling pressure. The USDJPY pair is heavily bearish while trading below the 112.54 level and may test the 112.00 support level. Buyers now need to move price above the 112.79 level to negate intraday selling pressures on the USDJPY pair. The USDJPY pair is strongly bearish while trading below the 112.54 level, key technical support is found at the 112.39 and 111.92 levels. If the USDJPY pair moves back above the 112.54 level, buyers may test the 112.79 and 113.00 resistance levels.
by OctaFX_Official
USDJPY HEAVY SELLING LIKELY BELOW 112.54 LEVELThe greenback remains under pressure against the Japanese yen currency on Monday as US dollar weakness, and risk-off trading sentiment push the pair lower. Heavy technical selling is expected if price falls below the important 112.54 support level. Only a sustained move above the 113.00 resistance level will negate intraday selling pressures on the USDJPY pair. The USDJPY pair is intraday bearish while trading below the 113.00 level, key technical support is now found at the 112.954 and 111.92 levels. If the USDJPY pair trades above the 113.00 level, buyers may test the 113.70 and 114.54 resistance levels.
by OctaFX_Official
USDJPY FALLS UNDER TRENDLINE SUPPORTThe US dollar has broken to the downside against the Japanese yen, following a strong move lower in US equity markets on Wednesday. The USDJPY pair has broken below key trendline support from the well-defined rising wedge pattern on the four-hour time frame. Additional intraday selling pressure will be placed on the USDJPY pair if price trades below the 112.94 support level. The USDJPY pair is intraday bearish while trading below the 113.89 level, key technical support is now found at the 113.28 and 112.94 levels. If the USDJPY pair trades above the 113.70 level, buyers may test the 113.89 and 114.19 resistance levels.
by OctaFX_Official
USDJPY Intraday ForecastAs we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=114.1. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=113.7. TP4: S2=113.5. Set the stoploss of these orders at breakout of R2=114.2. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of R2=114.2. In this situation, there is an expectation to reach the target R3=114.75. Set the stoploss of reverse orders at breakout of R1=114.1. 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!
Short
by ForecastCity
4