USD/JPY Analysis - page 49

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The Japanese bulls continue to gain positive traction and USD/JPY hit a multi month low at 105.54 today. Although the short term outlook remains bearish according to indicators on the H4, the price bounced just ahead of US opening, having a patch of macro releases to define the further movement.  

 
It rebounded from 105.54, I think it may be time for some correction to the upside.
 
Usd/Jpy is consolidating on the downside and found support at 105.50, while bears remain strong.
 

USD/JPY remains bearsih although the pair bounced from Friday’s low. The price is yet below its moving averages and indicators are hovering around their mid-lines with no clear direction. First resistance is seen at 106.85 while immediate support comes with 106.10.  

 

USD/JPY retreated from the weekly high at 107.90 where the bulls faced strong resistance. The pair resumed the bearish trend and now is aiming 107.30.  

 
Solid support at 104. 
 
The USDJPY keeps its bearish trend even though it has tried to correct to the upside. The pair loses its bullish momentum at the 108.00 zone and now is trying to back down to the 106.00 level, which it should break in order to continue falling.
 
The risk remains on the downside, immediate support can be found around 106.50, break below would open up to the downside.
 
I agree. In my opinion, the pair will test that level for a second time very soon.
 

USD/JPY recovered from the daily low at 106.37 and now nailed the 107.00 handle. According to the indicators on the four hour time frame the short term outlook is bullish with first target 107.30.

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