The decline of the US Dollar continued on Friday against the Japanese Yen. However,
A long awaited decline of the US Dollar against the Japanese Yen was occurring in the first half of Thursday's trading session.
USD/JPY was testing the weekly R1 early today; in case this level remains intact, the pair is likely should target the 109.40 area.
On Monday the USD/JPY exchange rate was guided mainly by the 55-hour simple moving average.
The pair continues to move in a short-term descending channel; this junior pattern, however, is unlikely to hold for long.
On Friday the USD/JPY traded in the same range as on Thursday. This phenomena can be explained by
On Thursday the USD/JPY rate had passed another resistance level. However,
By the middle of Wednesday's trading the USD Dollar had been attempting to break a resistance near the 109.15 mark for the past two trading sessions.
After the massive surge of the US Dollar against the Japanese Yen, the pair seemed to have revealed the pattern, which represents the rate's recent surge.
The Buck has just kept gaining ground against the Japanese Yen.
As the US Dollar has continued to surge again the Japanese Yen it finally encountered resistance strong enough to stop it.
The previous comment made that the breaking of the hourly SMAs could cause a bullish swing upwards has become reality.
A bullish breakout of the 55-, 100- and 200-hour SMAs could point to further upside potential in this session.
On Tuesday it could be seen that the US Dollar had scored new low levels against the Japanese Yen.
The US Dollar has continued to decline against the Japanese Yen. However, on Monday morning it seemed that the decline had ended.
After a short period of decline, the USD/JPY exchange rate picked up bullish momentum.
On Thursday the situation on the USD/JPY chart had changed. Namely, the currency exchange rate had been pushed lower by the 55-day SMA.
On Wednesday morning the USD/JPY currency exchange rate remained near the previous week's end levels.
Compared to Monday's trading session the USD/JPY currency pair had surged in a sudden jump, which lasted two hours at midnight.
On Monday the USD/JPY currency exchange rate traded between two simple moving averages.
Strong bullish momentum continues to be dominating the USD/JPY currency pair.
The USD/JPY currency exchange rate continues to push higher as it reaches a three-week high.
The US Dollar ended the Tuesday's trading session with strong bullish momentum against the Japanese Yen.
By the end of Monday's trading session, the US Dollar extended it decline against the Japanese Yen. As a result, the pair breached the 200-hour simple moving average