Week forecast for USD/JPY - page 3
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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.
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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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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
+1025 pips - this is the trading result our forex signals providers made for the last week.
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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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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
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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.
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Weekly forecast for USD/JPY
August 06, 2007 – August 10, 2007
View on USD/JPY: support formalization.
GFSignals team provides a week forecast for USD/JPY
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Last week our second script was fulfilled (50%): Correction fluctuations in the range of 118.00-119.80. The pair consolidated in the area achieved near the important support at 118.00. We watch slowdown of the decline and forming of the support and resistance levels. So, at 118.00 level there is an important local support May 2006 trend line projection. And now it is a good technical possibility for an upward rebound and further to the March trend line breakout region at 122.00 level. Though the pair will have to consolidate above 119.50/80 area first, where downward short term trend line projection lies. In case the May trend is broken down the pair will decline further hitting two-year trend from January 2005 at 116.20.
Script 1 (40%): Correction fluctuations in the range of 118.00-119.80.
The pair fluctuations reached a strong support at the 118.00 level area. That is why the correction may hold and side range may stay the same. In case the range margins are broken out the following two scripts will develop.
Script 2 (30%): 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 from 2005 year. A breakout of the May uptrend line and horizontal support at 118.00 will be a signal to this decline.
Script 3 (30%): A rising up to the 122.00 level.
It must not be ruled out a higher upside movement (the upward medium term trend line). The pair may correct to the 121.00-122.00 area, where the strong support broken at the end of July lies and March trend line breakout area as well. But after that a further decline to the support achieved at 118.00 is very possible.
Resistances
119.40/80 - the correction downward trend and the nearest resistance.
122.00 - March's trend breakout area level.
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.
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Intra-day USD/JPY outlook
Intra-day USD/JPY outlook, August 14, 2007
From GFSignals team
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Current price: 118.10
USD/JPY is still trading in the 117.20 - 119.80 range.
The downward trend target for the next week remains at 116.60 where two-year trend line from 2005 year lies (30%). The first support comes around 117.60 and then at 117.20 (double bottom). A break out below 117.20 will cause a further decline towards 116.60 over the next trading days.
On the upside the target is at 121.00-122.00 area (60%). But there is strong resistance in the 118.70-80 region. A break beyond 118.80 is needed. But after that rise there is a prospect of a rebound back to 118.00.
Resistances
119.80 - the correction downward trend and the nearest resistance.
122.00 - March's trend breakout area level.
123.40 - the broken out March's trend - key resistance projection.
124.15 - June's high - longstanding and 2007 high.
Supports
118.50 - the uptrend from May's 2006 low.
117.20 - August low.
116.20 - the uptrend expected support line from January's 2005 low.
115.10 - March's 2007 low - the year support.
Read more Forex news and forecasts at our Forex blog.
Weekly forecast for USD/JPY
August 27, 2007 - August 31, 2007
View on USD/JPY: is panic over?
GFSignals team provides a week forecast for USD/JPY
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Last week the pair recovered up to 116 - 117.00 region hitting the broken out July's support at 117.00/50 as well as January's 2005 uptrend line projection at 116.50. Now the pair may easily achieve higher levels because the current 500-pip correction does not reach even 50% of the whole decline from 124.10 to 111.60. So the local August's supports/resistances at 118.50 and 119.90 may be reached. Getting over the 116-117 shapes regions is needed for deeper recovery towards 119.90 and higher. But don't forget that the 2005-2006 rising trends are broken below for now, what tells about a high possibility of the further decline towards May 2006 low region at 109.00. A break below the 111.60/114.00 is needed for this decline.
Script 1 (30%): Correction fluctuations in the range of 114.00-117.50.
The pair decided to consolidate at the levels achieved. Though, the range of the correction fluctuations may turn up less than we expected before. The pair may not fall below 114.00 (the lowest day close level in August) and rise above 117.00/50. Though, we do not exclude the range widening till 111.60 below and till 118.50 above.
Script 2 (40%): A further decline towards 109.00 level.
It is quite possible a further course decline hitting the 109-shape area where May's 2006 low is. A break below 111.60 is needed for this decline.
Script 3 (30%): A recovery up to the 119-shape area.
It must not be ruled out a higher upside correction movement hitting the broken out the August's high at 119.90. But after any of such correction rising there is a high possibility for the next decline towards the support achieved at 111.60 and even further.
Resistances
116.50 - the line trend projection from January 2005.
117.00/50 - the broken out July and August's local supports.
118.50 - the broken out May's trend from 2006.
119.90 - August's high.
Supports
114.00 - the lowest day close level in August.
111.60 - the local low and 2007 low.
109.00 - May's 2006 low.
101.70 - the longstanding lows in 2004-2005.
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Weekly forecast for USD/JPY
September 03, 2007 - September 07, 2007
View on USD/JPY: slackness for a while.
GFSignals team provides a week forecast for USD/JPY
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The fluctuations range is getting narrow. The course has not changed too much for the last week trading in the range between 114.00 and 117.00. Technically it is a testing of the supports levels broken earlier and the uptrend line from January 2005. A picture is still correcting and both up and down trends are possible.
Last week our first script was fulfilled (30%): Correction fluctuations in the range of 114.00-117.50.The pair did not reach the broken out July's support level at 117.00/50 and retraced to 113.90 the last week's low. The broken out January's 2005 uptrend line projection at 116.50 also exerts certain pressure, now as a resistance.
Now the pair may easily achieve higher levels because the current 500-pip correction does not reach even 50% of the whole decline from 124.10 to 111.60. For example the local August's supports/resistances at 118.50 and 119.90 may be reached, so as the broken out May's 2006 uptrend line projection in the same region.
Though keep in mind that the 2005-2006 rising trends are broken below for now, and the pair is keep on trading below them, what tells about a high possibility of the further decline towards May's 2006 low region at 109.00. A break below the 111.60/114.00 is needed for this decline.
Script 1 (30%): Correction fluctuations in the range of 114.00-117.00/50.
The pair has consolidated at the levels achieved for now and may stay there for more than a week. Though, the range of the fluctuations may gain in breadth till 111.60/112.00 below and till 118.50/119.00 above.
Script 2 (40%): A decline towards 111.60 level.
It is quite possible a course decline again hitting the August's low at 111.60. But after that a rebound and rising up towards 117.00 is possible again. Though it is very possible a further decline towards the 109-shape area where May's 2006 low is. A break below 111.60 is needed for such decline.
Script 3 (30%): A recovery up to the 119-shape area.
It must not be ruled out a higher upside correction movement hitting the broken out the August's high at 119.90. But after any of such correction rising there is a high possibility for the next decline towards the support achieved at 111.60 and even further.
Resistances
116.50 - the line trend projection from January 2005.
117.00/50 - the broken out July's and August local supports.
118.50 - the broken out May's trend from 2006.
119.90 - August's high.
Supports
114.10 - the lowest day close level in August.
111.60 - the local low and 2007 low.
109.00 - May's 2006 low.
101.70 - the longstanding lows in 2004-2005.
Read more Forex news and forecasts at our Forex blog.
Weekly forecast for USD/JPY
September 10, 2007 - September 14, 2007
View on USD/JPY: Payrolls hurt the dollar.
GFSignals team provides a week forecast for USD/JPY
+2556 pips - this is the trading result our forex signals providers made for the last week.
More details at our web-site: Forex Signals Service.
The disastrous US payrolls report on Friday last week hit the USD/JPY in quite an aggressive way. During the morning session in Europe, USD/JPY drifted sideways in the 115.00- area. And then the pair tumbled from above a 115 level before the publication of the payrolls to the 113.15-area later in US trading. 200 pips decline for the day in the whole. This morning at the open in Asia, the USD/JPY decline first continued, but the pair finally found some support in the 112.60-area. The picture is still correcting. Though, after Friday's US data we don't see any reason the yen to change the course. Now the pair may easily achieve and even get over the resistance at 111.60. We still look to sell USD/JPY.
Last week two of our scripts were partly fulfilled: (30%): Correcting fluctuations in the range of 114.00-117.50 and (40%): A decline towards 111.60 level and we expect the further development for the second script. The pair fell almost 300 pips down last week reaching the 113-shape region. The side fluctuations range at 114.00-117.00 was broken down and now the August intra-day lows at111.60 area come back in the picture. Additional floor is eyed at May's 2006 low region at 109.00. But a break below the 111.60 support is needed for this decline.
Script 1 (70%): A decline towards 111.60 level.
It is quite possible a course decline again hitting the August's low at 111.60. But after that a rebound and rising up back to 117.00 is possible again. Though it is very possible a further decline.
Script 2 (10%): A further decline towards 109.00 level.
It is quite possible a further course decline hitting the 109-shape area where May's 2006 low is. This script will be expected after the 111.60 level breakout.
Script 3 (20%): A recovery up to 117.00-118.00.
It must not be ruled out the next rise hitting the highs at 117.00-118.00. But after any of such correction rising there is a high possibility for the next decline towards the support achieved at 111.60.
Resistances
117.00/20 - the line trend projection from January 2005.
118.50 - the broken out May's trend from 2006.
119.90 - August's high.
124.10 - the year and longstanding highs.
Supports
113.10 - the last week low.
111.60 - the local low and 2007 low.
109.00 - May's 2006 low.
101.70 - the longstanding lows in 2004-2005.
Read more Forex news and forecasts at our Forex blog.
Weekly forecast for USD/JPY
September 17, 2007 - September 21, 2007
View on USD/JPY: either up or down.
GFSignals team provides a week forecast for USD/JPY
+ 3854 pips - this is the trading result our forex signals providers made for the last week.
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Last week the pair totally recovered after Friday the 7th fall. No one of our scripts was fulfilled exactly, though the third one (20%): A recovery up to 117.00-118.00 started to run. In the whole more than 200 pips rise for the week. Now we see a triangle on the chart with upper limit at the 116.00 level area (immediate gain).
Script 1 (60%): Correction fluctuations within the 113.00-116.00 triangle.
Next week correction fluctuations within the 113.00-11.600 triangle are expected. But if the triangle margins are broken out two others scripts will be executed, though a movement to higher/lower levels must not be ruled out.
Script 2 (20%): A decline towards 111.60 level.
This script is possible after the breakout of the bottom triangle line at 113.00. It is quite possible a deeper decline.
Script 3 (20%): A rising up to 117.00-118.00 area.
This script is possible after the breakout of the upper triangle line at 116.00. It must not be ruled out the further rise shortly hitting higher levels.
Resistances
116.00 - the upper triangle line.
116.50/117.20 - the local August/September resistance.
119.90 - August high.
124.10 - the year and longstanding highs.
Supports
113.00 - the lower triangle line.
112.60 - September low.
111.60 - August low (2007 low).
109.00 - May 2006 low.
Read more Forex news and forecasts at our Forex blog.
Weekly forecast for USD/JPY
October 22, 2007 - October 26, 2007
View on USD/JPY: all the plans fall to the ground.
GFSignals team provides a week forecast for USD/JPY
+ 6567 pips - this is the trading result our forex signals providers made for the last week.
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Last week the pair slumped to 114.50 broking out the support line at 116.00. And now we expect a further fall down to the August low at 111.60 and probably lower to the 110.00-shape area. Though, broking out the local September’s minimum at 112.50 is necessary for that.
Script 1 (50%): A decline towards 112.00-113.00 area (the target is 111.60).
This script is possible after the breakout of the bottom triangle line at 114.50. And it is quite possible a deeper decline.
Script 2 (30%): Correction fluctuations within the 114.00-116.00 triangle.
It is very possible to expect correction fluctuations within the 114.00-116.00 triangle this week. In this case triangle lines may act both as supports and resistances.
Script 3 (20%): A rising up to 117.00-119.00 area.
This script is possible after the next rising upper the triangle lines. In this case we expect the movement towards the area at 118.00 level (October high). Then the further rise as well as a new rebound down are both possible.
Resistances
115.50 - the upper triangle line.
116.00 - this week local support.
117.90 - October high.
119.90 - August high.
Supports
114.50 - the lower triangle line.
114.00 - September local support.
112.60 - September low.
111.60 - August (year) low.
Read more Forex news and forecasts at our Forex blog.