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Usdjpyfib

USDJPY Bulls or Bears.....?Neutral view at the moment, as we had a break of the ascending trendline on Friday with a retest of this trendline just before market close. Moving averages were set to cross but this could just be a fakeout . The daily timeframe shows a very close rejection of the same ascending trendline, however price has ranged since the end of April. Daily candle close Friday producing a Doji pattern so indecisiveness between Bulls and Bears. Patience with this pair will pay off.
by JordanWillson
USDJPY Reversal at .382 Fib LevelTechnical Analysis Last week we kissed the 0.382 fib level and had a strong wick indicating a loss in the bulls momentum. This could be a strong indicator of the start of a reversal for USDJPY. This week all eyes on USD with Trumps Speech Today with his Hawkish attitude toward the Iran situation causing great volatility in the Oil Markets. Consumer Price Index on Thursday 11th May & James Bullard's speech on Friday 11th May. Key Week for USD Pairs.
Short
by MoneyBodySoul
USD/JPY drops to 111.30USD/JPY drops to 111.30 Due to fears of a large reduction in foreign Dollar asset purchases, the American currency fell by 0.86% against the Yen just in couple of hours. The plunge was stopped only after the exchange rate reached support area located around the weekly S2 and the monthly S1. Accordingly, today bulls are expected to try to restore lost positions. Most probably the surge will last until the pair reaches strong support-turned-resistance at the 112.10 level, which is additionally backed up by the 55-hour SMA. In case of better than expected US PPI data release, the soar might extend to the 112.60 mark, which represents location of the monthly PP together with the 100- and 200-hour SMAs. From the opposite side, the new decline is likely to be halted by the 38.2% Fibonacci retracement level at 111.17 the three-month low at 110.84.
by UnknownUnicorn890690
USD/JPY falls to 50% Fibo at 112.45USD/JPY falls to 50% Fibo at 112.45 Due to interest rate hike by the Federal Reserve, the currency exchange rate got a downside momentum, which lasted until the pair reached the last combined support level formed by the weekly S1 and the 50% Fibonacci retracement level at 112.45. A successful recovery of the buck looks unlikely, as the rate will need to cross a combination of the weekly PP, the 200-hour SMA and another 50% retracement level near the 113.00 mark. In addition to that, the northern side is strengthened by the falling 55- and 100-hour SMAs. From the opposite direction, the pair, in contrast, faces no notable support levels up until the 112.10 mark. In support of this assumption, majority in pending orders in 100-pip range are set to sell.
by UnknownUnicorn890690
USD/JPY fails to bypass 113.68USD/JPY fails to bypass 113.68 Most of the previous trading session the currency rate spent moving towards the 23.6% Fibonacci retracement level located at 114.03. Nevertheless, this target was not achieved due to resistance area formed near the 113.70 mark. As for today, a minor retreat back to 113.20 is possible. However, the Yen unlikely to gain much value due to pressure from the rising 55-, 100- and 200-hour SMAs. On the other hand, it looks like the pair is moving in a new rising wedge formation, which presupposes a breakout towards the 50% retracement level. In case of such mixed signals there is a need to turn to the overall fundamental picture, which is in favor of the buck, as markets anticipate the interest rate hike.
by UnknownUnicorn890690
USD/JPY prepares to test support at 111.20USD/JPY prepares to test support at 111.20 In line with expectations, by the end of the previous trading session the currency rate has reached the upper boundary of a currently active descending channel. As this barrier was additionally backed up by the 38.2% Fibonacci retracement level as well as the falling 100-hour SMA, the pair was forced to rebound. During first half of the day the pair is likely to get back to the 11.60 mark amid the push made by the 55-hour SMA. But subsequently the pair is expected to test support area between the 111.20-111.10 levels. Unless the Yen receives a proper impulse this barrier might ruin the pattern. However, such scenario unlikely to lead to rapid recovery of the buck, as on daily chart road to north is blocked by a combination of the 100- and 200-day SMAs.
by UnknownUnicorn890690
USDJPY H4 *Short Opportunity*A nice close on Friday afternoon of a Bearish Engulfing with not much bull power being shown in the remaining hours of the market, closing at 112.085 . On a 1 hour timeframe a head and shoulders has been created with the pair following suit and continuing to fall, adding to the strength of my short sentiment. US news is pretty quite until Tuesday afternoon so could provide some nice opportunities the start of the week before the Fundamental Frenzy kicks in! The RSI is converging with the chart and respecting a nice downtrend also, with the Stoch sitting low but think it will hold. There are two ways this could go, but the result I believe will be a short. We could see a retrace back up to the 112.600 area before continuing it's fall down to around 111.270 , if the monthly support is weak and gets wiped out. If the price shows no stopping past the monthly support level, we could see this pair rally down to the 110.25 region. Commitment of Traders also showing a positive long hold on the YEN therefore backing up the continuing fall of the Dollar . I have a pretty strong sentiment towards the bearish engulfing holding out and the price pushing more to the downside.
Short
by JordanWillson