USD/JPY Analysis - page 79

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Smith Stuggatt:
Next week is going up

You have been warned about making pointless posts before.

If you have something to add then add it and give reasons for your opinion. That is what this thread is about - analysis.

Imagine how this thread would deteriorate if it was just full of people guessing the market direction.


Personally, I will be looking for opportunities to sell USDJPY next week.

A near perfect Doji at resistance on the Daily chart and the fact that it has been making lower lows suggests that we may see price fall next week.


 

USD/JPY edged lower and closed the week at 111.25. The 100-day SMA is providing immediate support around 110.95 and I think the pair wouldn’t move below it.

 
The pair pulled back from 111.40, I think it may depreciate back to 110.00.
 

USD/JPY is struggling around 111.00 handle, but the sentiment remains bearish. On the four hour time frame the price is yet developing above its moving averages Stochastic is located within extreme negative territory while RSI is looking for direction around its mid-line. The pais is supported by  111.10, 110.75 and 110.40. The resistance levels are seen at 111.50, 111.85 and 112.20.

 
It's undecided for the moment, but I too think the move south should continue. Let's see when or if it will break out below 111.00.
 
USD/JPY keeps its mildly bearish tone, but attempts to recover ground where again falls between the 200-day SMA in the four hour time frame. Currently is hovering around 111.30, below the highs from last week at around 111.50. In the same chart  indicators are developing around their mid-lines and are lack of directional strength. The 100-day SMA is aiming south and even below the weekly lows, at around 110.85, offering a short-term dynamic support
 
The move north is apparently not over yet. The local high is at 111.50, let's see whether the pair will break out above it. If it does I think it will rally to 112.20.
 
I think it will going up
 
USD/JPY finally broke its latest range to the upside. The pair is currenlty trading around 111.70 and is showing strong bullish momentum.  On the four hour time frame the price stands well above its 100-day and 200-day SMAs and both are running in parallel, maintaining neutral stance. RSI and stochastic had advanced towards positive territories, now losing their positive momentum but holding at daily highs. I think the monthly high at 112.14 might be tested very soon
 
It pulled back from 111.85 and is now testing 111.35, which used to be a resistance and is now a support. Let's see whether it will break out below that level.
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