The 110.00 mark was reached by USD/JPY as expected. Although, after piercing the resistance at 110.00 it failed to gain more. The rate reached slightly above the 110.15 mark and retraced back down below the 110.00 level. In general, it can be observed that the pair is trading sideways and consolidating its gains after the 250 pip surge since Friday. Latest Fundamental
On Monday, the USD/JPY currency exchange rate was aiming to reach the 110.00 level. Meanwhile, take into account that, if the pair passes the 110.00 level it will face a technical resistance level near the 110.20 mark. Latest Fundamental Event The Bureau of Labor Statistics released US PPI data lower-than-expected of negative 0.2% compared with forecasted 0.01%. Note, that the US Core PPI
The surge of the USD/JPY is set to once more test the resistance of the 110.00 level. Besides the fact that this level has proven itself as a psychological resistance, there are no other obstacles to the USD/JPY to reach the 110.50 mark. Meanwhile take into account that the rate is supported by the 55 and 100-hour simple moving averages near
In general, the pair is still heading higher as stated before. Meanwhile, note that the hourly chart has been fully reviewed. The reason for that is the breaking of various descending patterns. Latest Fundamental Event The Bureau of Labor Statistics released US PPI data lower-than-expected of negative 0.2% compared with forecasted 0.01%. Note, that the US Core PPI was released at the same
The forecast of the larger scale is proving to be correct. The rate has broken the short term resistance levels, signalling that it will head higher. Namely, watch the pivot points, round psychological levels, as the rate is set to surge up Latest Fundamental Event The Bureau of Labor Statistics released US PPI data lower-than-expected of negative 0.2% compared with forecasted 0.01%. Note,
On Tuesday, the USD/JPY traded sideways between the 109.40 and 109.50 levels. Although, the range was increasing by the middle of the day. For guidance of the future direction of the rate take into account that there is a strong technical resistance cluster at the 109.60 level and a solo support at 109.30. Latest Fundamental Event The Bureau of Labor Statistics released US
The surge of the USD/JPY continues. A 50.00% Fibonacci retracement level at the 109.60 mark was reached by the middle of Friday's trading session. The Fibo had forced the rate into trading sideways. Although, the sideways trading was consistent with the channel up pattern, which has been active since Tuesday. Latest Fundamental Event The Bureau of Labor Statistics released US PPI data lower-than-expected
The USD/JPY has continued to surge. Although, it has gained even more than it was expected, as the ascending pattern on the hourly chart has been broken. Due to the breaking of the junior and dominant patterns on the hourly chart a full review of the chart has been conducted. Read about that below. Latest Fundamental Event The Bureau of Labor Statistics released
The USD/JPY has confirmed that it is set to surge. Previously, long signals were only present on the daily chart. Namely, the currency exchange rate broke through the resistance of the dominant descending channel pattern on the hourly chart. Latest Fundamental Event The Bureau of Labor Statistics released US PPI data lower-than-expected of negative 0.2% compared with forecasted 0.01%. Note, that the
On Tuesday, a sudden surge began on the hourly charts of the USD/JPY. The pair quickly reached the high level of 108.75. During the move previous descending pattern was broken. Our analyst conducted a review of the hourly chart and spotted two patterns. A dominant channel down pattern and a junior channel up pattern. Latest Fundamental Event The Federal Reserve releases US FOMC
The USD/JPY currency exchange rate has resumed the decline in the borders of a descending channel pattern. However, it was spotted on Monday that the 108.00 level is providing psychological support. Namely, the 108.00 has forced the USD/JPY into surging and making attempts to pass technical resistance levels near the 108.30 mark. Although, it is expected that the decline will resume. Latest
The USD/JPY recovery has run into resistance. The rate has retraced back down to the levels near the 108.40 mark. The rate faces the resistance of the 38.20% Fibonacci retracement level at 108.43, and the 100 and 200-hour simple moving averages respectively at 108.48 and 108.54. Latest Fundamental Event The Federal Reserve releases US FOMC Meeting Minutes where fed officials provide in-depth
The USD/JPY has fallen due to the announcements made by US central bankers. Namely, the rate has bounced off the 109.00 mark and plummeted below the 108.00 level
On Wednesday, constant attempts to pass the 109.00 level continued and failed.
On Tuesday the pair bounced off the resistance provided by the 109.00 mark.
The USD/JPY is trading sideways and about to be squeezed in on the hourly candle stick chart.
The biggest surprise about the USD/JPY is that the descending pattern used as a guide before the holiday season was still actively guiding the pair.
After touching the 111.80 level the USD/JPY began a surge, which revealed two additional patterns on the currency exchange rate's charts.
The decline of the USD/JPY is taking place because of the US Federal Reserve.
As the USD/JPY was awaiting the FOMC rate hike, the currency pair continued to decline.
The USD/JPY is declining as expected. Although, the fall of the pair is much larger that it could have been forecast.
After reaching the 113.50 mark the USD/JPY began a decline , which by the middle of Monday's trading had passed all close by support levels.
The short version of everything below is - if the pair breaks the resistance at 113.60-113.70, it is highly likely going to surge up to the 114.40 mark.
USD/JPY has resumed its surge and reached above the 113.40 level.