USD/JPY Analysis - page 92

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USD/JPY close right below the weekly support at 111.90. Exoecting next week new lows with first bearish target aorund 111.30 area.

 

S&R day start 29/0ct/18



 
The pair has rallied above 112.20 and I think it will keep moving north. In my opinion, next target will be at 112.65.
 

USD/JPY recovered today and currently is trading around mis 112s. But to return into bullish mode, the pair will need to advance beyond 112.90. On the four hour time frame the price is developing below its 100-day and 200-day SMAs whie RSI and stohstic pushed above their mid-lines. Immediate resistance is offered by  112.60, and next one is seen at 112.90, which is breaking to above  would bring a steeper recovery towards 113.40.

 
Levels to watch for 30/oct/18

 
The USDJPY tries to rally for a second consecutive session, but it is still trapped in a congestion area around the 55 day EMA at the 112.27 level. To the upside, the 113.00 level may act as resistance. To the downside, the 200 day EMA, which is just above the 111.00 level could act as support.
 
It is almost at 113.00, the question is whether we will see a breakout above that level. If we do next target may be at 113.40, I think.
 

USD/JPY is showing strong positive tone in the short-term. Ont he four hour time frame the parice is developing above its moving averages, all of them almost flat now. Stochastic has reached extreme overbought readings, while RSI is looking for direction around 63 level. As long as are holding above 112.60, the pair is poised to extend its advance towards 113.40.

 

 S&R Levels for 31/oct/18


31/oct/18

 
It broke out above 113.00 as I thought it may. I think next target will be at 113.40 and above.
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