Forex Signals

After reaching 78.27 last week on concerns over Japan’s first monthly deficit in nearly 30 years and a decline in growth outlook, USD/JPY started this week in familiar territory again 76.60 – 76.80.  Other than Japan’s Jobless rate tomorrow, there isn’t much news to trade with.  Perhaps of more interest is the EUR/JPY movement where [...]

USD/JPY finally broke Jan high (77.34) today hitting 77.39 at the time of writing. This may be on the back of news that Bank of Japan cut its growth outlook. Governor Shirakawa and board members lowered the economic forecast to 2 percent from an October estimate of 2.2 percent for fiscal 2012.  In addition we [...]

With a trading of 76.69 to 76.87 for the last 12 hours into the day and especially during Asian time, one would question how one can prosper from this currency pair?  The answer may that you need to be patient.  The FX Market is wary of Japanese officials’ concern about the JPY’s rapid strength and [...]

USDJPY stays in a trading range between 76.60 and 77.32. Lengthier consolidation in the range would likely be seen in a couple of days. Key resistance is at 77.32, a break above this level will confirm that the fall from 78.21 had completed at 76.60 already, then further rise to test 78.27 resistance could be [...]

The Japanese yen (JPY) has been slowly strengthening, particularly vs. the US dollar as the monetary polcies of the two respective Central banks are seemingly moving in oppostie directions.  On the one hand, the rumors are flying that perhaps we are going to see QE3 here in the US as the economy continues to flounder, [...]

After breaking below 75.96 previous low, USDJPY bounced from 75.81. Key resistance is now at 76.47, as long as this level holds, the bounce is treated as consolidation of downtrend from 77.48, another fall towards 70.00 is possible after consolidation. However, a break above 76.47 will indicate that lengthier consolidation of the longer term downtrend [...]

Over the past few weeks, the USD/JPY pair has been trading in a fairly tight range for the safe haven currencies.  A bottom had been put in near 76 after the Bank of Japan intervened in the currency the last time the Yen saw that level vs. USD.
So there were many questions as to whether [...]

USD/JPY made an all-time low last Friday, just touching below 76 for the first time before bouncing back higher.  This has prompted the rhetoric to pick up, as the BOJ further threatens intervention.  However, it is likely that the BOJ won’t do anything until after Bernanke’s speech on Friday as the world waits to see [...]

USDJPY traded in a narrow range between 76.29 and 77.19. Another fall to test 76.29 support is still possible, a breakdown below this level could signal resumption of the long term downtrend. Resistance is at 77.19, only break above this level will indicate that the downward move from 80.23 has completed at 76.30 already, then [...]

USDJPY moved sideways in a narrow range between 76.29 and 77.19. Key resistance is at 77.19, a break above this level will indicate that a cycle bottom has been formed at 76.30 on 4-hour chart, and the fall from 80.23 has completed, then further rally could be seen to 79.00-79.50 area. On the downside, a [...]