USD/JPY analysis

I think that USD / JPY has found a new corridor between 114.50 and 112, and it will try to break lower sooner than to break above.
 
I think that USD / JPY has found a new corridor between 114.50 and 112, and it will try to break lower sooner than to break above.

The pair consolidating lower indicating the likelihood of further decline towards 112.00 level.
 
I think so too - USD/JPY will make yet another attempt to test the support zone around 112.00 - 111.60 and if it fails to break out below that level it will move sharply to the upside.
 
For the sixth consecutive day the Japanese yen performs better than the US dollar. During the last session the dollar lost another 72 pips. Early the dollar was traded for 112.49 yen. The first hours the dollar was stronger and it recorded a peak level of 112.86, but later followed fairly sharp decline in the rate and bears broke first support at 112.00 to record bottom level of 111.53. The session closed at 111.77.
 
USD/JPY
Key levels to watch for:
Support: 111.20; 109.63;
Resistance: 112.00; 114.05; 115.64.
 
Dollar/yen had a bearish momentum yesterday, bottomed at 111.53 and hit 111.42 earlier this morning. The outlook remains bearish, but note that the zone 111.50/30 is key support and a good place for a long position with tight stop loss. Purchases around this area will give a better price and risk/return. Immediate resistance is 112.30/50, whose breakthrough could lead price to neutral zone for testing 113.00 or higher. On the downside, a clear break and daily close below 111.30 would reactivate the bearish pattern as part of the scenario of the double top (118.60).
 
The yen continues to surprise the dollar. For the seventh consecutive day the Japanese yen performs better than the greenback. During the last session the dollar lost another 52 pips from its account. Early in the morning one dollar traded for 111.78 yen, and within minutes there was registered daily high at 111.79 yen per dollar. There was a long and convincing decline and after breaking the first support level at 111.20, bears took its bottom at exchange rate of 110.73. Bulls found the strength to return the rate to the level of 111.26.
 
USD/JPY marks a week of depreciation as the pair went from 113 to below 111. Lowest low was made yesterday at 110.60, price is now slightly recovered trading at 111.23. I'm expecting a move up for the next week.
 
I am expecting a move up too. I am seeing the current price as a great opportunity to go long. I'm taking quite a big position on this
 
The pair remains vulnerable on the downside, further decline might be expected, my next target is at 109 level.
 
I think the pair might rebound from 110.10 due to the spinning top bars on the H4 time frame and the RSI divergence that has formed on the same time frame.
 
I think the pair might rebound from 110.10 due to the spinning top bars on the H4 time frame and the RSI divergence that has formed on the same time frame.

Possible, the pair is showing short term momentum indicating a bit higher while still remain strong bearish. On the downside 110.10/00 act as strong support zone.
 
Yesterday the pair rebounded from 110.10, but it looks like today there will be another attempt to break out below 110.10 - 110.00.
 
The US dollar recorded a modest decline against the yen on Wednesday. The pair lost only 10 pips at a closing price of 111.03. The graphics continue to evolve under moving averages, while the index of relative strength remained on neutral territory. Keeping the current levels will contribute to positive attitudes.
 
USD/JPY
Key levels to watch for:
Support: 111.00; 109.50;
Resistance: 114.00; 116.45.
 
The pair is very range-bound between 110.80 and 111.40 but I think that once that range ends it will continue falling. We need a breakout below 110.10 for a confirmation.
 
USD/JPY reached a high of 112.20 yesterday and is now trading at 111.60. The pair could not get over the resistance and bears took control. First support is now seen at 111.20.
 
Dollar/yen had a bullish momentum yesterday, topped at 111.94 and hit 112.19 earlier this morning. The bias remains for up to test 112.85 as part of the bullish scenario hammer formation. Immediate support is near 111.30. A clear break below could bring price to neutral trade zone.
 
The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD/JPY is trading at 111.40, losing 0.47%. I believe that support is now at around 110.09, Monday's low, and resistance is likely to come in at 112.20, the high of today's trading.
 
The pair is consolidation in a narrow range short term, but well within negative territory, break below 111.00 level would like lead to further decline.
 
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