As the US election approaches, the USD/JPY bulls appear to have taken profit, as the rate broke the channel up pattern on October 31. It appears that the rate is waiting for this week's fundamental events near the 151.50 mark. Economic Calendar The US Presidential Election and the Congressional elections takes place on Tuesday. These events will guide the financial markets. On Thursday,
The latest surge of the USD/JPY has been attributed to fundamental events. However, it has been noticed that the currency pair has been surging in two channel up patterns for most of October. Most recently, the pair found support in a range at 152.37/152.47, the 50-hour simple moving average and the lower trend line of the channel up. Economic Calendar This week,
The USD/JPY reached above the 150.00 mark on October 17. However, resistance was found near 150.30. This level caused a decline of the rate down to the support and resistance range that surrounds the 149.00 level. The 149.00 provided support and by mid-Monday the rate was heading back to 150.30. Economic Calendar On Thursday, at 13:45 GMT, the US S&P Global Manufacturing
The 150.00 mark has held, and a decline has occurred. The decline has passed below the 149.50 level and the combination of the 50 and 100-hour simple moving averages. However, it appears that the 149.00 level, despite being pierced, has provided support. Economic Calendar From the US Dollar's side, the markets could react on Thursday at 12:30 GMT to the publication of
The higher than expected US Consumer Price Index has initially created high volatility, but afterwards provided the needed push for the Dollar to surge. On the USD/JPY charts, the pair bounced between 148.50 and 149.50 just after the event. On Monday, the resistance of the 149.50 level was broken, and the rate was heading to 150.00. Economic Calendar From the US Dollar's
The decline of the USD/JPY found support in the 147.20/147.50 range, before returning to once again test the 149.00 mark. In general, it is assumed that the publication of the US Consumer Price Index will reveal the future direction of the US Dollar, which will impact the currency exchange rate. Economic Calendar On Thursday, the top event of the week will take
A string of fundamental events has caused a surge of the US Dollar against the Japanese Yen. This week, the rate was declining after hitting resistance at 149.00. Economic Calendar This week, the markets could react to the publication of the US Federal Reserve Meting Minutes on Wednesday at 18:00 GMT. On Thursday, the top event of the week will take place. At
The support of the 141.70 level was enough to cause a broader recovery. By mid-Wednesday, despite various resistance levels, the rate managed to break above 145.00 and was heading to the 146.50 level. Economic Calendar On Thursday, the Institute for Supply Management will publish the Seervices sector Purchasing Managers Index at 14:00 GMT. Large deviation from the forecast could cause a USD
The announced stimulus by the Chinese government caused a surge of assets and currencies across all of Asia. The Japanese yen also surged on Friday. The event resulted in the pair dropping from 146.50 level down to 143.00. Moreover, the decline continued on Monday, as the pair reached the support range at 141.70/142.00. Economic Calendar This week, the market could move due
During the first half of this week, the rate found support in the 143.00 level, before returning to test the resistance of the 144.50 level. Economic Calendar On Thursday, the markets might react to the publication of the US Final GDP data release. However, the Final release is the one with the less impact of the three US GDP releases. On Friday, at
The support of the 141.70/142.00 range was enough to eventually cause a surge that broke the 143.45/143.80 zone and reached the 144.50 level. The 144.50 has held and caused another decline of the pair, as the USD/JPY looks for support. Economic Calendar On Tuesday, the CB Consumer Confidence index might impact the markets via an adjustment of the US Dollar's value at
After the US Fed rate cut, the pair surged above the 142.00 mark, but found resistance in the 143.45/143.80 zone. Meanwhile, support is being provided by the combination of the 50 and 200-hour simple moving averages and the 141.70/142.00 range. Economic Calendar On Friday, watch the Japanese Yen during the Asian session. The Bank of Japan is expected to announce its monetary
The USD/JPY has declined more than expected, as the rate has broken the broad channel down pattern. However, on Monday, the pair appeared to have found support near the 139.50 level. The follow-up recovery has encountered resistance in the prior 2023 low level at 140.80 and the 50-hour simple moving average. Economic Calendar This week, the top event of them all is
On Wednesday, the USD/JPY currency pair pierced the lower trend line of the broad channel down pattern. However, the pair immediately found support in the 2024 low level at 140.80. The low level provided enough support for the rate to return to trade between the 142.00 and 143.00 levels. Economic Calendar This week's notable events are over. USD/JPY hourly chart analysis In the case
The US Dollar has found support against the Japanese Yen in the August low level. However, more notable is the fact that the reversal from this zone has confirmed the existence of a large scale channel down pattern. This week, the pair was encountering resistance in the 143.50/143.75 range and the 100-hour simple moving average, together with the weekly simple
The channel up pattern failed to hold. The USD/JPY currency pair has declined and revealed a channel down pattern. By mid-Thursday, the rate had reached below the 143.50 level. Economic Calendar On Thursday, at 12:15 GMT, the ADP Non-farm Employment Change might cause a move. However, the top employment data publication of them all will happen on Friday. At 12:30 GMT,
The recovery of the US Dollar against the Japanese Yen has reached the combined resistance of the upper trend line of the channel up pattern, the weekly R1 simple pivot point and the 147.00 mark. In general, the pair could now go anywhere in the borders in the borders of the pattern. Economic Calendar Notable events start on Tuesday. At 14:00 GMT,
The USD/JPY pair has managed to breach the resistance of the 145.00 level. In addition, after the first pass above 145.00, the rate retraced back down and revealed the location of a channel up pattern's support range. Economic Calendar Next week, notable events start on Tuesday. At 14:00 GMT, the ISM Manufacturing PMI data is set to be published and might impact
Since Monday, the USD/JPY pair has been consolidating by trading sideways between the support of the 143.50 level and the 145.00 level's resistance. In general, the situation has not changed since Monday, besides the fact that the 50 and 100-hour simple moving averages appear to have minor to no impact on the pair. Economic Calendar On Thursday, the US Preliminary GDP data
The comments made by the head of the US Federal Reserve caused a decline of the US Dollar against other currencies. On the USD/JPY charts, it was consisted with a bounce off from the 146.00/146.50 range. By mid-Monday, the decline had found support in the 143.50 level. Economic Calendar This week, the markets might move due to various publications. On Tuesday, at
Despite reaching above the 146.00/146.50 range, the rate did not extend its recovery far. The surge stopped and reversed near the resistance of the 50, 100 and 200-hour simple moving average. Eventually, the decline reached the support of the 145.00 mark, which reversed the decline. By mid-Wednesday, the pair was once again testing the 146.00/146.50 zone. In general, prior support
As the market started the week's trading, the Yen strengthened during the Asian trading hours. By the time Europe woke up, the move had resulted in the USD/JPY rate reaching below the 145.50 level. However, buying started and by midday the rate was testing the resistance of the 146.00/146.50 range. Economic Calendar The financial markets might move on Wednesday, at 18:00 GMT.
The US Dollar was boosted by the US Retail Sales release, which caused a surge of the USD/JPY currency pair above resistance ranges that eventually turned into support. However, on Friday it was observed that there was no follow up to the prior surge, as the pair declined and by midday was below the 148.00 mark.In the meantime, it has
Despite the release of US inflation data, the USD/JPY continues to trade almost flat. Resistance is provided by the 147.90/148.20 zone. Support is found in the 146.00/146.50 zone. Economic Calendar On Thursday, the US Retail Sales data will reveal whether total sales of consumer goods hae continued to increase. Note that higher retail sales might be due to higher prices not higher