Posts Tagged ‘USD/JPY’
USD/JPY has traded as high as 84.45 as the Nikkei reports the BOJ is considering more monetary easing. The report further says that the Ministry of Finance is considering unilateral intervention to sell JPY if speculators drive the currency up.
Intervention, it should be noted, is most effective when coupled with policy changes. A move to [...]
Price action on USD/JPY (a 4-hour chart of which is shown) as of Monday (8/23/2010) has once again respected the strong accelerated downtrend represented by the key downtrend resistance line extending from the early June high. Although the end of last week saw price rise to approach this trendline once again, [...]
Price action on USD/JPY (a 4-hour chart of which is shown) as of Thursday (8/19/2010) morning has once again reached down to the key 85.00 region lows after dropping today from near 86.00. This occurs within the context of a strong, accelerated overall downtrend extending from the June high. In the event of a strong [...]
Price action on USD/JPY (a 4-hour chart of which is shown) as of Tuesday (8/17/2010) has generally consolidated in a range between the 86.50 resistance region and the 85.00 support region for the last two weeks. This consolidation occurs within the context of a steep and reliable downtrend resistance line extending from the June high. [...]
Price action on USD/JPY (a 4-hour chart of which is shown) as of Tuesday (8/03/2010) has established a fresh 2010 low, an 8-month low, after having broken down below the last low of 85.93 established late last week. This breakdown occurs within the context of a strong downtrend for the pair and confirms a continuation [...]
USDJPY formed a cycle top at 88.11 level on 4-hour chart. Now the fall from 88.11 is treated as resumption of downtrend from 92.88 (Jun 4 high). Further fall towards 84.82 (2009 low) is expected in next several days. Key resistance is at 88.11, only rise above this level could indicate that lengthier consolidation of [...]
Price action on USD/JPY (a 4-hour chart of which is shown) as of Tuesday (7/20/2010) morning, has formed a flag-like retracement/consolidation formation within a strong downtrend. This potentially bearish retracement/consolidation pattern occurs right around the key 87.00 support/resistance region. For more technical analysis on this currency pair, please click here for Tuesday’s (7/20/2010) Chart of [...]
USDJPY broke below 88.00 key support, suggesting that a cycle top has been formed at 89.15 level on 4-hour chart. Now the fall from 89.15 is treated as resumption of downtrend from 92.88 (Jun 4 high). Deeper decline is still possible later today and next target would be at 86.00 area. Key resistance is now [...]
Price action on USD/JPY (a 4-hour chart of which is shown), as of Thursday (7/15/2010), made a substantial plunge to break down below key support at 88.00 and now once again looks to be targeting further key support in the 87.00 price region. This 87.00 level is also where price established [...]
The 30-minute USD/JPY has sold-off and transitioned into a distribution cycle which from my experience can be an *account killer* unless you make the proper adjustments to price movement expectation. Usually in distribution, prices will exhaust at near-term highs and lows. On the 30-minute USD/JPY that means the 88.50 resistance and 86.95 support.
Summary
Target Level 88.5
Target [...]
