USD/JPY Analysis - page 35

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113.20 - 113.30 turned out to be a very strong resistance. I shorted at 112.95 and I haven't closed the short position yet. I think the pair will drop to 112.60 at least.
 

We are looking for a buying opportunity in the USDJPY.

It is coming down to our target buy area with first support at 112.40/35 doing the job but below targets better support at 111.85/75. A bounce from here is likely on the first test. If a break lower is seen on further tests, we target 111.50/40 & a buying opportunity at 111.00/110.95.


 

The USDJPY has tried in multiple ocassions to break above the 113.00 level but it has not confirmed a breakout. The lows of the daily candles are getting higher, indicating that the bullish pressure is accumulating in that zone, therefore we could a breakout of the 113.00 level, accelerating the bullish momentum.

 

My short position reached the target at 112.60 but I haven't closed it. Instead I opened another one, both with target 112.00.

 

Usd/Jpy turn negative on North Korea missile test, but short term the pair is within the range between 112 to 113.

 

The upward trend is clearly exhausted and the range that is forming appears more and more bearish. I think there will be a breakout below 112.60 soon.

 

USD/JPY is relatively bearish and the resistance at 113.40 is still holding. I think that if it falls below 112.00 it will continue depreciating at least to 111.20 - 111.00.

 

Difficult to trade for the last week.

 

USDJPY FOR NEXT WEEK:

TREND : SHORT

S: 112.300 - 112.200

R: 111.700 - 111.500

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