GFSignals team - a week forecast for USD/JPY

[GFSignals]

GFSignals team provides a week forecast for USD/JPY

USD/JPY for a month has been fluctuating within the limits of 200 pips of a range of 116.60 - 118.60. The couple keeps on testing a long-range line of downward trend and every week closes below it.

This week the following USD/JPY couple behaviour alternatives are possible:
1. Further sideway fluctuations. Fluctuations within a range of 116.60 - 118.60 may continue especially in the first half of the week. One of the levels break may lead to two others alternatives development. But range extension above to 119.00 is possible.
This is most likely outcome.

2. The downward trend to range of 114.00 and 115.00. Rebounds from the resistance lines may lead to steep downward trend. The signal is a breakout of level 116.60. In this case the downward trend will simply reach the area of 114.00-115.00. The further decline may lead to deeper slump towards objectives at the annual minimum area of 109.00.
This is less likely outcome than the first one.

3. The upward trend above 119.00. It is not improbable that the couple will rise above 119.00. This script is possible in case of a resistance lines breakout which hold in couple fluctuations from above.
This is the smallest outcome.

Major Resistance Levels:
117.90 long term trend line from 1998
118.60 short resistance line for last three weeks
119.60/90 yearly maximum in October 2006 (very import resistance)
121.40 maximum in December 2005 (level of significant resistance)

Major Support Levels:
117.50 local support from last week
116.60 local minimum from November
116.10 local minimum in the end of September
114.00/115.60 August and September monthly minimums

 

[GFSignals]

27.Nov - 01.Dec

GFSignals team: A week forecast for USD/JPY

Last week USD/JPY couple course sloped down steeply and punched the support levels above 116 closed the week in the area of 115.80. This situation gives a huge technical potential for the further couple course decline to the area 113.00-114.00 This situation is described by one of the scripts viewed in the last review.

This week the following USD/JPY couple range variations are posible:

1. Medium decline to 115.00
We are expecting couple course decline. It can be medium during the week with the maximum target of 115.00 (the first script) but can be steepper with the main target achievement of the area of 114.00 (the second script). Within the bounds of the first script it is not improbable a short-term upward movement during the week to 116.60 following which a down impuls be next. A breakout of 116.60 will lead to the third script development.
The chances of this script development are 50%.

2. A downward trend to 114.00-115.00 range.
A course decline may be rapid with a target achievement in the area of 114.00. Since it is reached a rising correction rebound will follow.
The chances of this script development are 40%.

3. An upward trend above 117.00.
We don’t leave out a couple rises above 117.00. The reason is a course technical need to test a broken neck line below (117.00/40 region). It will be a classic script of a "head-and-shoulders" shape. After such an upward trend further course decline to the calculated drop target area is to be expected.
This is the smallest outcome.

Major resistance and support level for USD/JPY

Resistance
116.00 – 116.60 nearest resistance level – broken support
117.40 level of “head and shoulders” figure
117.80 long time trend line since 1998
118.60 November resistance

Support
115.60 local supports from last week – recent minimum of November, also September minimum
115.00 expected intermediate support
114.00 August monthly minimum
113.40 July monthly minimum

 

[GFSignals]

4 Dec - 8 Dec. Week forecast for USD/JPY

4 Dec - 8 Dec. Week forecast for USD/JPY

USD/JPY couple course decline continued last week. Yen to dollar rising is not as fast as euro currencies, but medium dollar decline is going on anyway. Last week the 115.00 level was tested and price drop below (one of the last review’s scripts). It can be training for the next course decline within the next few days and fixing below. A technical picture says about high probability of the further couple course decline to the 113.00-114.00 region.

This week the following USD/JPY couple range variations are possible:

Script 1 (40%): Side exchange fluctuations within the 115.00 - 116.60 area. After inert week for yen side exchange fluctuations within the 115.00-116.60 region are expected. Especially liable will be couple rising to 116.60 in the case of euro currencies correction beginning. The breakdown of these levels will lead to the next two scripts development.

Script 2 (40%): The downward trend to the 113.40-114.00 region. The course decline can continue in case of fixing below 115.00. In that case the nearest target of the 113.40-114.00 region will easily be reached during the week. After that the correcting rebound can occur.

Script 3 (20%): The upward trend above 116.60. It is not improbable that the couple will rise above the 116.60 level to the 117.40 area. The reason is a course technical need to test a broken neck line below (117.00/40 region).

Resistance
116.00 - 116.60 the nearest resistance region – broken support
117.40 the neck line region of “head and shoulders” figure
117.80 the long time trend line since 1998
118.60 November resistance

Support
115.00 the last week reached supports
114.00 August monthly minimum
113.40 July monthly minimum
109.00 May yearly minimum as a long-range target of the current decline

 

[GFSignals]

Weekly forecast for USD/JPY

December 11, 2006 - December 15, 2006

GFSignals team provides a week forecast for USD/JPY

Last week USD/JPY couple correction brought out. On Monday it reached a new minimum in the 114.50 level area and then on Friday increased up to 116.50.

Script 1 (20%): Side exchange fluctuations within the 114.50 - 116.60 area.
Recommencement of side exchange fluctuations within the 114.40-116.60 region can be expected. But the chances of it are bad. Last week the lower fluctuations limit fell to 114.40. But there wasn?t less than 114.00 limit decline there. The upward trend up to 116.60 says about high probability of overcoming of this limit as well. Stated side exchange fluctuations limits overcoming will lead to the next two scripts development.

Script 2 (40%): The downward trend to the 113.40-114.00 area.
The course decline can continue in case of fixing below 114.50. In that case the nearest decline target of the 113.40-114.00 region will easily be reached during the week. After that the correcting rebound can occur again.

Script 3 (40%): The correcting upward trend up to 117.40/60.
The couple has increased more than 100 pips up to 116.50 during Friday. It is not improbable that it will rise above the 116.60 level to the 117.50 area. Classically it will be a course technical need to test a broken neck line below (117.00/40 region) ? ?head-and-shoulders? shape script. After such rising further downward trend to the calculated decline target region is to be expected.

The major resistance and support levels :

Resistance
116.60 the nearest critical resistance region ? broken support
117.50 the neck line region of ?head and shoulders? shape
117.70 the long time trend line since 1998
118.60 November resistance

Support
114.40 the last week reached supports
114.00 August monthly minimum
113.40 July monthly minimum
109.00 May yearly minimum as a long-range target of the current decline

 

[GFSignals]

View on USD/JPY: dollar is going to be restored

December 18, 2006 - December 22, 2006

View on USD/JPY: dollar is going to be restored

GFSignals.com team provides a week forecast for USD/JPY

Last week USD/JPY couple continued to grow. Weekly increase amounted to almost 200 pips and arrived at 118.30. A technical picture is uncertain.
"Head-and-shoulders" figure working-off is likely to be unrealized, since couple course got over the "neck line" as a very important resistance.

Script 1 (50%): Side exchange fluctuations within the 117.40 - 118.60 area.
118.60 level achievement may lead to rollback and to side exchange fluctuations within the 117.40 - 118.60 area generating. These side exchange fluctuations levels overcoming will lead to the next two scripts development.

Script 2 (20%): Downward trend under 117.00.
In case of a downward trend less than 117.40 "Head-and-shoulders" figure working-off script which is viewed in our previous reviews will reestablish. Course decline will continue to the 115.00-116.00 area.

Script 3 (30%): Upward trend up to 119.70/90.
Couple has arrived to 118.60 as the upper level of the side range expected. In case of overcoming it the couple will get over 119.00 and reach 119.90.

Resistance
118.60 November resistance
119.70/90 October resistance region - top points of 2006 year
121.40 2005 year resistance - the longstanding maximum

Support
117.40 Support to be expected (broken resistance)
116.60 The resistance level broken upward - support to be expected
115.40 Medium December support
114.40 December monthly minimum

 

[GFSignals]

View on USD/JPY: weekly forecast

January 15, 2007 - January 19, 2007

View on USD/JPY: all the expectancies for 121.30

GFSignals team provides a week forecast for USD/JPY

Last week USD/JPY pair rate rose sharply, went beyond the October maximum and almost run up to 121.30 as the longstanding maximum of November 2005. The situation is not in favour of yen which continues to fall. Technically the pair is ready to cross over 121.30 level which remains to be the nearest resistance key level.

The breakout of the resistance level of 2006 year (119.90) is technically not for advantage of yen. Now it can easily arrive not only the longstanding maximum region (121.30) but also higher levels, for example in the 122-125 area, within the next few days or weeks. Though the pair is trading still below 121.30 what can so far lead to recommencing it and to downward trend.

Script 1 (55%): Upward trend above 121.30
Everything says about a high probability of this script development and pair increase above 121.30. The nearest target is 122-123 area from which a rollback can start with an achievement of the broken resistance. Then increase can continue with a 125.00 level target.

Script 2 (35%): Side exchange fluctuations within the 119.20 - 121.00 area.
It is possible to expect pressure increasing to the course from the bears nearby the 121.30 level.
The pair can surely decrease to the 119.00 level region where the support view line from December is situated. From it an upward rebound is expected.

Script 3 (10%): Downward trend under 119.00 to 118.00.
It should not be ruled out a probability of pair decline to 119.20 as well as a breakout of this support down.

The major resistance and support levels :

Resistances
120.80 - last week resistance region as 2006 yearly tops
121.30 - 2005 year resistance - the longstanding maximum
125.80 - the local 2002 year resistance
135.00 - the longstanding maximum level in the beginning of 2002 year

Supports
119.90 - The broken up resistance of 2006 year
119.00 - The broken resistance line view on the tops of 2005-2006 years
117.00 - The longstanding downward trend line from 1998 year
113.40-114.40 - January, July and December local minimums of 2006 year

 

[GFSignals]

View on USD/JPY: is the further increase unavoidable?

January 22, 2007 - January 26, 2007

View on USD/JPY: is the further increase unavoidable?

GFSignals team provides a week forecast for USD/JPY

Last week the 121.30 longstanding maximum of 2005 year was tested and broken out. USD/JPY pair rate achieved the 121.50 area as a new longstanding maximum. The situation is not in favour of yen as before which continues to fall against dollar and pound. Now technically the pair is ready to achieve the 125.00 area. Is it inevitability? What can bring to a stop a missile?

Yen is under a strong pressure. Last week our first script was fulfilled: (55%) Upward trend above 121.30. The market renewed the longstanding maximum of 2005 year. The new longstanding maximum is at 121.50 by now. Though there is a high probability of a further USD/JPY pair increase.

Script 1 (40%): Fixation above 121.30 and upward trend to 122.00
Everything says about a comparatively high probability of this script development and pair increase above 121.30. The nearest target is 122-123 area from which a rollback can start with the broken resistance achievement. Then increase can continue with a 124.00 - 126.00 level target.

Script 2 (40%): Side exchange fluctuations within the 119.90 - 121.50 area.
Bears pressure near the 121.30 level can intensify and lead to correction. The pair can decrease to the earlier broken out 119.90 level region where the support view line from December 2006 is situated. From it an upward rebound is expected.

Script 3 (20%): Downward trend to 118.00/60.
It should not be ruled out a probability of pair decline to 119.90 as well as a breakout of this supposed support down.

Resistances
121.30 - the broken out longstanding maximum and 2005 year resistance
121.50 - the local 2007 year resistance as a new longstanding maximum
125.80 - the local 2002 year resistance
135.00 - the longstanding maximums level in the beginning of 2002 year

Supports
119.90 - The broken up resistance of 2006 year, support view line area from December 2006
118.00 - The January minimum of 2007 year
117.00 - The longstanding downward trend line from 1998 year
115.80 - the medium-term view line - the bottom line of the upward channel from May 2006.

 

[GFSignals]

January 29, 2007 - February 02, 2007

View on USD/JPY: four-year maximum

GFSignals team provides a week forecast for USD/JPY

Last week brought us 121.80 as the new longstanding maximum from March, 2003. It is the second new January top already after the breakout of the 2005 year maximum in the 121.30 area.
There is a strong pressure to yen on the market even though a short-term USD/JPY course fall during the week. Technically the pair is ready to achieve the 125.00 area.

Yen is under a strong pressure. We have seen new longstanding tops. A new maximum is 121.80. And nevertheless there wasn?t a further increase. Last week our second script was fulfilled: (40%) ?Side exchange fluctuations within the 119.90 - 121.50 area?. During the week the pair sharply came down to the 120.20 level support and then sharply rebounded. Technically the two-month short-term upward trend linear projection from December 2006 which was indicated in the last review became a support line. Such a pair behavior confirms an importance of the mentioned projection.

Script 1 (45%): A further upward trend with the 122.50 target.
There is a strong possibility of a further USD/JPY pair increase in the nearest future. Both the upward 121.80 breakout and the next rebound from the mentioned above trend line will promote it. The nearest target is the 122.50-123.00 area where a number of linear projections run as potential resistances.

Script 2 (20%): Side exchange fluctuations within the 119.90 - 121.80 area.
Judging by sharp rebound last week after the new yearly maximum reaching it is possible to suppose the next currency decline for instance to the same level 119.90 or somewhat lower to 118.00. Though even the next decline under 121.00 by the end of the week may stand for the mentioned above trend line breakout and correction fluctuations dragging out.

Script 3 (35%): Deep correction fall with target to 118.50.
It should not be ruled out 119.90 downward breakout as the nearest supposed important support. It may take place after a breakout and course fixation under the two-month trend line. Stronger support levels at the 118.00-119.00 area will do a target for this fall. This area can hold the pair and lead to the next upward trend in February. The third script will drag out the pair fluctuations on the reached high levels and may lead then both to deeper fall (118.00 downward breakout) and to further rise (121.30/80 upward breakout).

Resistances
121.80 - the local 2007 year resistance as a new longstanding maximum
121.90 - the 2003 year maximum in March
125.80 - the local 2002 year resistance
135.00 - the longstanding maximums level in the beginning of 2002 year

Supports
121.00 - projection line area from December, 2006 - the two-month trend line
119.90 - the broken up maximum of 2006 year
118.00 - the January minimum of 2007 year
117.20 - the longstanding downward trend line from 1998 year


Welcome to our new section, Forex Economic Calendar. You will find there a Forex market events calendar with comments for the current week.

 

[GFSignals]

View on USD/JPY: there is time for downward

February 05, 2007 - February 09, 2007

View on USD/JPY: there is time for downward

GFSignals team provides a week forecast for USD/JPY

Every week of this year brings us a new maximum. Last week the pair reached 122.20 as a new longstanding maximum. But from the next week the situation may change. Things are reaching turning point on the market which may bring to a downward USD/JPY pair trend. From the technical side the week minimum which has overridden the previous minimum is noteworthy. Following a downward trend the pair can easily reach the 118-119 region in February, holding with it an estimated upward potential to the 125 shape regions.

Last week renewed the longstanding maximums achieved a new maximum 122.10, but didn?t forget about minimums. There was no chance to stay too long over the 122 shape. The bears pressure brought to the course downswing and before last week minimum renewal from 120.20 to 120.10. This dynamics says about the risk of deeper USD/JPY course decline during the next few weeks. Last week our second script was fulfilled: (20%) ?Side exchange fluctuations within the 119.90 - 121.80 area?, but the top limit was renewed to 122.20. Examined in the last two reviews the two-month short-term upward trend linear projection from December 2006 turned out to be broken down. By the end of the week the pair classically reestablished to this line breakout region of 121.40. Now there is a strong possibility of the further pair decline.

Script 1 (60%): A correction downward trend with the 118.80-119.00 target.
We suppose a roll-back from the reached resistance line in the 121.40-80 area, decrease and a breakout of the support level of 119.90. It will lead to decrease to the 119.90 region, where the more important supports lines are situated. Here the first rebound is expected. It should not be ruled out the further decline and January, 2007 minimum achieving of 118.00. This level may hold the pair and lead to the next upward trend in the latter half of February.

Script 2 (30%): Side exchange fluctuations within the 119.90 - 122.20 area.
The pair may easily stay at the current fluctuations range of 119.90 - 122.20. And nevertheless one of the limits breaking will lead to the other two scripts developments.

Script 3 (10%): An upward trend continuation with the 125.70 target.
In spite of the bears spirits increase and a high possibility of correction development we don?t exclude a possibility of the further USD/JPY pair increase. An upward 122.20 breakout will make for it, especially after the next rebound from the support line in the 119.90-120.10 area. The nearest target is 123.00/50 then.

Resistances
121.40/80 - the local resistance of the broken down upward trend line from December, 2006
122.20 - the January, 2007 maximum
125.80 - the local 2002 year resistance
135.00 - the longstanding maximums level in the beginning of 2002 year

Supports
120.10/20 ? the last two weeks support area
119.90 - the broken up maximum of 2006 year
118.90 ? the important supports lines region
118.00 - the January, 2007 minimum


Welcome to our new section, Forex Economic Calendar. You will find there a Forex market events calendar with comments for the current week.

 

[GFSignals]

weekly forecast for USD/JPY

February 12, 2007 - February 16, 2007

View on USD/JPY: steep turn

GFSignals team provides a week forecast for USD/JPY

+2484 pips - this is the trades result for the last week of our Forex traders' signals.
More details at our web-site

The market brings surprises. In spite of USD/JPY course fall till the new correction minimum of 120.00 in the middle of the week nothing could prevent it to rise until 121.70. From the technical side we watch a rebound from 119.90 as the earlier broken out top of 2006 which now classically comes out as a support. And now a decline under 120.00 can find a postponement...

Last week the correction minimums were renewed again and the pair achieved 120.00, but could not break out a limit of 119.90. The level classically comes out as a support because earlier it was a resistance of 2006. Medium USD/JPY pair increase over 120.70 brought to a further rise and reaching for 121.70 by the end of the week. The situation is interesting and uncertain. Our second script was fulfilled: (30%) "Side exchange fluctuations within the 119.90 - 121.80 area". The correction goes on and a rebound from the important support makes for further USD/JPY course increase.

Script 1 (40%): Side exchange fluctuations within the 119.90 - 122.20 area.
The pair is remaining in the current fluctuations range 119.90-122.20, in which it has been contained for a month already and can trade there for a week or two until the high or low limits do not be broken out.

Script 2 (30%): An upward trend to 125.70.
A quick breakout of 122 shape up is required for this script. In this case the former resistance area of 122.00/20 will come out as a support next. The target is 125.70.

Script 3 (30%): A downward trend to 119.00.
A breakout of the support area of 120.00/20 down is required for this script. Then this area will come out as a resistance. The nearest target is 118.50/119.00 area. This script may designate for fluctuations for the next few months and lead to deeper fall in the future.

Resistances
121.90 - the resistance projection line from the January's top.
122.20 - the January, 2007 maximum
125.80 - the local 2002 year resistance
135.00 - the longstanding maximums level in the beginning of 2002 year

Supports
120.50 - the estimated line support area according to Jan/Feb 2007 minimums.
119.90/120.00 - the February support area and the broken up maximum of 2006 year
118.90 - the important supports lines region
118.00 - the January, 2007 minimum

 

[GFSignals]

weekly forecast for USD/JPY

February 19, 2007 - February 23, 2007

View on USD/JPY: long-expected downward trend

GFSignals team provides a week forecast for USD/JPY

+2004 pips - this is the trades result for the last week of our Forex traders' signals.
More details at our web-site: Forex Signals Service.

The market keeps on bringing surprises. During the last week USD/JPY course came down with almost 300 pips: from the longstanding maximums in 122-shape area to the new correction minimums in 119-shape area. 119.90 top level of 2006 which classically came out as a support during the last three weeks turned out to be broken downward. Now deeper slide to 118.00 and possibly under may follow.

Last week our third script was fulfilled: (30%) - "a downward trend to 119.00". The yen rallied last week and USD/JPY course slid sharply from the up fluctuations margin of 122.00 to the upper one of 120.00. 119.90 level was broken down following which course slid sharply to the support line in 119.00-shape area. There is fair chance of the further USD/JPY course decline and achievement of 116.00-118.00 area during the next two or three weeks.

Script 1 (40%): Side exchange fluctuations within the 119.00 - 120.00 area.
The pair may make a new side fluctuations range 119.00-120.00, beside the reached and broken out margins. Slide or rise will lead at the least to 100 pips movement to a breakout side.

Script 2 (40%): A downward trend to 118.00.
The 119.00 support break down is necessary for this script. The nearest decline target is January minimum level of 118.00. This script may lead to a deeper decline to the 116.60 level area where May, 2006 minimum trend line is situated.

Script 3 (20%): An upward trend to 121.00.
A sharp break above of the 120-shape is necessary for this script. 121.00 level (the middle of the previous range of 120-122) may come out a resistance line and lead to rebound with the following decline and the second script fulfillment. We don't expect for rising above 121-122 as yet.

Resistances
119.90 - the broken out support of the last three weeks - the top of 2006.
121.00 - the estimated resistance of the middle of the previous channel 120-122.
122.20 - the January, 2007 maximum.
125.80 - the local 2002 year resistance in October and November.

Supports
119.00 - the last week support and the important supports lines region.
118.00 - the January, 2007 minimum.
116.60 - the May, 2006 support line region - yearly trend line. The broken out downward trend line from 1998 is in the same place.
114.50 - the local correction minimum of 2006 in December.

 

[GFSignals]

Weekly forecast for USD/JPY

February 26, 2007 - March 02, 2007

View on USD/JPY: with its last bit of strength?

GFSignals team provides a week forecast for USD/JPY

+1241 pips - this is the trades result for the last week of our Forex traders' signals.
More details at our web-site: Forex Signals Service.

USD/JPY currency pair was very volatile and unpredictable within the last two weeks. Last week the pair raised almost 200 pips higher till the 121.00 level what almost graded 300-pips decline the week before last from 122 till 119. The fluctuations range is still the same. The situation is uncertain.

Last week our third script was fulfilled: (20%) - "An upward trend to 121.00". Within the week the pair sharply rose from the lower fluctuations margin of 119.00 which was achieved the week before last to almost the upper margin of 122.00. The weekly maximum is 121.60. Closing is on 121.00. The situation is uncertain. The scripts of decline to the 118-shape were broken. And nevertheless in consideration of the current high course level there is a high probability of USD/JPY course decline to the 119-120.00 area within the next week. The future trends are uncertain. Everything will depend on the pair behavior next to the dominant margins and theirs breakouts.

Script 1 (40%): Side exchange fluctuations within the 119.50 - 121.50 area.
The pair has made a new side fluctuations range of 119.00-122.00. But new fluctuations may just touch those margins not to attaining them. Slide or rise will lead to at the least 150-200 pips movement to a breakout side within several days.

Script 2 (30%): A downward trend to 118.00.
The 119.00/50 support break down is necessary for this script. The nearest decline target is January minimum level of 118.00. This script may lead to a deeper decline to the 116.60 level area in the future where May, 2006 minimum trend line is situated.

Script 3 (30%): An upward trend to 125.00.
A sharp break above of the 122-shape is necessary for this script. February resistance area of 121.60/122.10 may come out an obstacle and lead to a rebound developing the first script. But this region breakout above will become a signal for the further rise with an outlook of rising to the 2002 levels area of 124.00-125.80.

Resistances
121.60 - the last week maximum.
122.10 - the February maximum - monthly resistance.
122.20 - the January, 2007 maximum - yearly resistance.
125.80 - the local 2002 year resistance in October and November.

Supports
119.90 - the intermediate level - the previous support and the previous resistance.
119.00 - the week before last minimum and the important supports lines region.
118.00 - the January, 2007 minimum.
116.60 - the May, 2006 support line region - yearly trend line. The broken out downward trend line from 1998 is in the same place.

 

[GFSignals]

Weekly forecast for USD/JPY

March 05, 2007 - March 09, 2007

View on USD/JPY: has plumbed

GFSignals team provides a week forecast for USD/JPY

+1555 pips - this is the trades result for the last week of our Forex traders' signals.
More details at our web-site: Forex Signals Service.

This week USD/JPY currency pair committed that which it could not be able to the week before last when 119.90 support level was broken out. This time nothing could prevent USD/JPY to fall.

Last week our second script was partly fulfilled: (30%) - "A downward trend to 118.00". Because pair decline did not even "noticed" the 118.00 level, January minimum which came out just an interweek support. The pair went on further and by the end of the week achieved December, 2006 levels, the two-month minimums. A technical picture is not still in favor of dollar.

Script 1 (50%): A downward trend to 114.00-115.00 area.
This script logically continues a downward course trend. The achieved 116.40 support break down is necessary for this script. Decline target is December minimum level of 114.40. This script may lead to a deeper decline to 109.00 level area in the future where May, 2006 minimum trend line is situated.

Script 2 (30%): Side exchange fluctuations within the 116.00 - 118.00 area.
When the pair achieves the support in the 116-shape area it may be trading sideways within a new correction range of 116.00-118.00. After that a new decline will follow as in our first script described. Though rising to 118.00 and above will lead to the third script development.

Script 3 (10%): Side exchange fluctuations within the 116.00 - 119.00 area.
A break above of the 118.00-level is necessary for this script. The broken February support area (119-shape) may come out an obstacle and lead to a rebound developing the first script next. We do not expect though for pair rising above 119.00/90 area within the next few weeks.

Script 4 (10%): A downward trend to 114.00.
A sharp break down of December minimum 114.40 is necessary for this script. Decline target is May, 2006 minimum level of 109.00.

Resistances
118.00 - expected resistance of the broken January support.
119.00/119.90 - the broken February support area.
121.60/122.20 - February resistance.
122.20 - January, 2007 maximum - yearly resistance.

Supports
116.80 - May, 2006 support line region - yearly trend line. The broken out downward trend line from 1998 is in the same place.
116.00/40 - last week achieved region - expected intermediate support.
114.40 - December, 2006 minimum.
109.00 - May, 2006 minimum.

 

[GFSignals]

Weekly forecast for USD/JPY

March 12, 2007 - March 16, 2007

View on USD/JPY: double bottom

GFSignals team provides a week forecast for USD/JPY

+2525 pips - this is the trades result for the last week of our Forex traders' signals.
More details at our web-site.

Last week USD/JPY currency pair established a new minimum and then went on to a correction. The 115.20 level unexpectedly came out as a support. The pair has almost come to December, 2006 minimum at 114.40. Then unexpected ascending impulse led to a sharp rise to the 118-shape area. Double bottom was left below.

It is very hard to forecast exactly the currency fluctuations after its 700-pip decrease for the last 4 weeks. Last week our two scripts were partly fulfilled: "A downward trend to 114.00-115.00 area" (50%) and "Side exchange fluctuations within the 116.00-119.00 area" (10%). In the beginning of the week the pair easily decreased to the new minimum levels from December, 2006 at 115.20, but December minimum at 114.40 was never achieved. The further correction to the upside made prospect for greater rise. At 4-hour chart there is a double bottom shape. Now an uptrend to 118.50-119.00 is supposed. Thus it is possible to expect for the pair decrease after any correction maximum has been met.

Script 1 (50%): Side exchange fluctuations within the 117.00-119.00 area.
Current correction may remain in 117.00-119.00 range. The low margin is the double bottom neck line, and the upper margin is the mentioned shape workout target.

Script 2 (40%): A downward trend to 114.00-115.00 area.
A neck line break down at 117.00 level area is necessary for this script. A potential target price for this downtrend stands at the December, 2006 minimum. This script is also logically continues a downward course trend. This script may lead in the future to deeper decline to the May, 2006 minimum area at the 109.00 level.

Script 3 (10%): An upward trend to 120.00.
It must not be ruled out a higher increase, admittedly to the 120.00/120.90 level area. Thus, after such an upward trend a following downward trend is expected.

Resistances
118.50 - expected double bottom shape level.
119.00/119.90 - the broken February support area.
121.60/122.20 - February resistance.
122.20 - January, 2007 maximum - yearly resistance.

Supports
117.00 - neck line area.
115.20 - last week achieved support.
114.40 - December, 2006 minimum.
109.00 - May, 2006 minimum.

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[GFSignals]

Weekly forecast for USD/JPY

March 19, 2007 - March 23, 2007

View on USD/JPY: shape after the shape

GFSignals team provides a week forecast for USD/JPY

+ 1924 pips - this is the trades result for the last week of our Forex traders' signals.
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The upward rebound from the 115.20 level in the beginning of March didn't lead to upper rise. Last week the pair consolidated at the 115.50-118.00 range, making a triangle fluctuations range. This formation can lead to the next course decline in the future.

Last week no one of our scripts was fulfilled exactly. Thus the pair exactly achieved the estimated by the double bottom shape target 118.50 (see the technical levels in the last review). A technical picture remains to be descending.

Script 1 (50%): Side exchange fluctuations within the three-cornered 116.10-118.40 area.
Current correction may remain in the bounds of the triangle. The break out of the limits will lead to the next two scripts.

Script 2 (30%): A downward trend to 113.00-114.00 area.
A bottom triangle line break down at 116.10 is necessary for this script. After that a potential downward target, the December, 2006 minimum area, will be achieved firstly. That will lead to a deeper decline in the future, while to the 113.00 level area, triangle workout target.

Script 3 (20%): An upward trend to 121.00.
It must not be ruled out this script, because an upside break out of the triangle may occur (the upper limit is 118.40). Thus, after such an upward trend a following downward trend to the March minimums is expected.

Resistances
118.50 - double bottom shape workout target - last week maximum (upper triangle bound is a bit below).
119.00/119.90 - the broken February support area.
121.60/122.20 - February resistance.
122.20 - January, 2007 maximum - yearly resistance.

Supports
115.70/116.10 - last week support area, bottom triangle line as well.
115.20 - March, 2007 yearly minimum.
114.40 - December, 2006 minimum.
109.00 - May, 2006 minimum.

 

[GFSignals]

week forecast for USD/JPY

March 26, 2007 - March 30, 2007

View on USD/JPY: the triangle applies

GFSignals team provides a week forecast for USD/JPY

Last week our first script was fulfilled: "Side exchange fluctuations within the three-cornered 116.10-118.40 area" (50%). Though the bottom margin wasn't achieved, the course kept to the upper margin. Now decline/rebound to the bottom margin area is to be expected.

Script 1 (50%): Side exchange fluctuations within the three-cornered 116.60-118.30 area.
Current correction may remain in the bounds of the triangle. The break out of the limits will lead to the next two scripts.

Script 2 (30%): A downward trend to 113.00-114.00 area.
A bottom triangle line break down at 116.60 is necessary for this script. After that, firstly a potential downward target 114.40, the December, 2006 minimum area, will be achieved. That will lead to a deeper decline in the future, while to the 113.00 level area, triangle workout target.

Script 3 (20%): An upward trend to 121.00.
It must not be ruled out this script, because an upside break out of the triangle may occur (the upper limit is 118.30). But, after such an upward trend to the 120-121 area a following downward trend to the March minimums is expected.

Resistances
118.30/50 - the last two weeks resistances (upper triangle bound).
119.00/119.90 - the broken February support area.
121.60/122.20 - February resistance.
122.20 - January, 2007 maximum - yearly resistance.

Supports
116.60 - bottom triangle line.
115.20 - March, 2007 yearly minimum.
114.40 - December, 2006 minimum.
113.00 - supported nearest fall target.

 

[GFSignals]

Weekly forecast for USD/JPY

June 25, 2007 - June 29, 2007

View on USD/JPY: the flight is going well, for now

The US dollar has grown last week up to longstanding maximums in 124-shape area against the Japanese yen and keeps on its rise. And it is very likely it will hit 2002 year local maximums at 125.00/80 in the next couple days. But the rise can’t be endless. So it is very possible it will go back down soon.

Script 1 (40%): Side exchange fluctuations within the 123.10-124.50 area.
Current rising can stay in the region achieved with just side exchange fluctuations within the 123.10-124.50 area.

Script 2 (30%): A correction decline to 122.20.
It is very likely a correction downward trend to the broken key resistance area at 122.15/20 with a following upward rebound.

Script 3 (30%): A further upward trend hitting 125-shape area.
Next week a further course rising hitting 125-shape area is very much expected. The target is at 125.00/80 area.

Resistances
124.15 - last week maximum.
124.70 - intermediate resistance.
125.00 - expected rise target.
125.80 - 2002 year local maximum.

Supports
123.10/123.30 - last week support.
122.20 - the broken key resistance, now expected key support.
121.70 - March current upward trend line.
120.80 - June and May level supports.

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[GFSignals]

Weekly forecast for USD/JPY

July 16, 2007 - July 20, 2007

View on USD/JPY: March uptrend is broken down

GFSignals team provides a week forecast for USD/JPY

+ 4940 pips - this is the trading result our forex signals providers made for the last week.
More details at our web-site.

The Dollar's broad decline was steepest against the Yen last week. After that USD/JPY was up 0.52% to 122.60 after touching 121.00 low. We saw a classical testing of the broken trend line.

Last week our third script was fulfilled (10%): A downward trend with a break out of 122.20 level.

Script 1 (40%): A further decline touching the 120 shape region.
Technically we watch a breakout of the March uptrend line what tell us about the first signal of the uptrend slowing down and/or turning up. The further correction and decline below 121.00 is very possible. The first target decline is 118.00-120.00 region.

Script 2 (50%): Correction fluctuations in the range of 121.00-122.60.
The correction may stay in the current range achieved, just trading sideways within the 121.00 - 122.60 area. The 121.00 level achieved comes out as a support now, and resistance then is a local last week rebound at 122.60 where the March trend line breakout as well.

Script 3 (10%): A rising up to the 123 level.
The broken trend line which was already classically tested by the up going rebound is at 122.90 level area. It must not be ruled out the short rising to the projection mentioned. But after that a further decline and the first script fulfilling is very possible.

Resistances
122.60 - March trend line breakout level.
123.00 - March upward trend - key resistance projection.
123.60 - Two last weeks' resistance.
124.15 - June maximum.

Supports
121.00 - Last week support achieved.
120.80 - June and May horizontal support lines.
119.50 - May local support.
117.60 - April local support.

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[GFSignals]

Weekly forecast for USD/JPY

July 23, 2007 - July 27, 2007

View on USD/JPY: Expectations make the Yen stronger.

GFSignals team provides a week forecast for USD/JPY

Last week our second script was fulfilled (50%): Correction fluctuations in the range of 121.00-122.60. The pair respected the ranges last week though shortly fell to a new correction low to 120.85 on Friday. It can potentially be USD/JPY bearish and the Yen consolidation in the nearest future.

Script 1 (60%): A further decline to the 119.00- 120.00 region.
It is very likely the deeper decline/consolidation below 121.00 level, which was achieved at the last week. The first decline target is the 119.00-120.00 region where the downtrend channel lower line.

Script 2 (30%): Correction fluctuations in the range of 121.00-122.60.
The correction may stay in the current range achieved, just trading sideways within the 121.00 - 122.60 area. The 121.00-shape level region achieved comes out as the main support for now, and resistance then is the downtrend channel upper line projection.

Script 3 (10%): A rising up to the 123.00 level.
The broken trend line which was already classically tested by the up going rebound is a little bit higher than the 123.00-shape. It must not be ruled out the short term upside movement to the projection mentioned (in case the 121-shape wouldn't be broken down). But after that a further decline and the first script fulfilling is very possible.

Resistances
122.40/60 - two last weeks' resistance region.
123.00 - March's trend broken - key resistance projection.
123.60 - July's high.
124.15 - June's high - longstanding high.

Supports
121.00 - the current fluctuations local horizontal support.
119.80 - the downtrend channel upper margin.
118.00 - the uptrend from May's 2006 low.
116.20 - the uptrend expected line from 2005 low.

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[GFSignals]

Weekly forecast for USD/JPY

July 30, 2007 - August 03, 2007

View on USD/JPY: May 2006 trend line.

GFSignals team provides a week forecast for USD/JPY

+762 pips - this is the trading result our forex signals providers made for the last week.
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Last week our first script was fulfilled (60%): A further decline to the 119.00- 120.00 region. The pair continued to fall and hit the 118.00 level broking out the support in the 119-120 area. But decline can not last endlessly. New levels and projections go into the game. At the level of 118.00 the correction hit one more longstanding projection line lasting from May 2006! And now it is very possible to expect unless an uptrend then at least a rebound. But firstly the pair should consolidate above the 119.30 level where downtrend channel lower margin projection is, which was broken last week.

Script 1 (20%): A further decline to the 116-shape region.
It is quite possible a further course decline and hitting the 116-shape area where 2-year trend lies. A breakout of the May uptrend line last week achieved will be a signal to this decline. But wee guess this version is unlikely for the next week.

Script 2 (50%): Correction fluctuations in the range of 118.00-119.80.
The pair fluctuations reached a strong support at May trend line, so now the correction to the 119.00 - 119.80 area, the broken last week support, is very possible to expect.

Script 3 (30%): A rising up to the 121.30 level.
It must not be ruled out a higher upside movement to the July's short term downtrend line at 121.30. But after that a further decline to the support achieved at 118.00 is very possible.

Resistances
120.00/80 - the broken out intermediate support - the nearest resistance area.
121.40 - July's correction downtrend.
123.40 - the broken out March's trend - key resistance projection.
124.15 - June's high - longstanding and 2007 high.

Supports
118.00 - the uptrend from May's 2006 low.
116.20 - the uptrend expected support line from January's 2005 low.
115.10 - March's 2007 low - the year support.
113.40 - the intermediate 2006 support.

Read more Forex news and forecasts at our Forex blog.