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USD/JPY: US Dollar falls even as Harada warns of more QE may be needed. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Current trend
This week, the pair is corrected downwards due to weak economic statistics from Japan.
Tankan Large Manufacturing Index in Q2 2018 dropped from 24 to 21 points and Manufacturing PMI in June dropped from 53.1 to 53.0 points.
Also, JPY is under pressure of the decision of the People's Bank of China not to use the yuan as a weapon in the trade war with the US. This was announced by the head of the Chinese regulator Yi Gang. In general, the potential to strengthen JPY as a safe haven asset remains, especially if the US-China trade conflict continues to worsen.
In addition, on Wednesday, the Japanese Bank of Japan board member Yutaka Harada addressed the leaders of Japanese business. The official noted that the current level of unemployment in the country (2.2%) is too high and to achieve inflation level of 2.0% it is necessary to further reduce it. Therefore, the Bank of Japan intends to continue soft monetary policy.
Support and resistance
The price has fallen to the midline of Bollinger Bands to 110.15. The breakdown of this level will give the prospect of further decline to 109.37 (Murrey [4/8], the bottom line of Bollinger Bands) and 108.59 (Murrey [5/8]). This possibility is indicated by Stochastic which has left the overbought area. The key to the "bulls" is 110.93 (Murrey [6/8]), which was tested unsuccessfully in May. Consolidation of the price above it will cause an increase to 111.72 (Murrey [7/8]) and 112.50 (Murrey [8/8]).
Support levels: 110.15, 109.37, 108.59.
Resistance levels: 110.93, 111.72, 112.50.
Trading tips
Buy positions can be opened above 110.93 with targets at 111.72, 112.50 and stop-loss at 110.50.
Sell positions may be opened below 110.15 with targets at 109.37, 108.59 and stop-loss at 110.40.
Implementation period: 3-5 days.
Today,Initial support is located at 80.00 (Big figure support) followed by 79.57 (May 5 low). Initial resistance is now at 81.33 (Jun 2 high) followed by 81.77 (May 19 high)
Ye pair downtrend ke movement par hain par agar ye 80.71 touch hota hai to 81.21 tak jaa sakta hain. Maine 80.66 me sell kiya tha aur 80.12 me closed kar diya.
usdjpy in buy trend today and i give you usdjpy price movement prices and today support aor resistance level details , see the prices of usdjpy give below ------------------------
Resistance levels: R1: $111.05 R2: $111.25 R3: $111.45.
Support levels: S1: $110.05 S2: $109.85 S3: $109.65
The pair can grow.
On the 4-hour chart, the third wave of the higher level 3 of (C) is forming. Now the development of the third wave of the lower level iii of 3 has begun, within which the wave (i) of iii has formed, and the downward correction (ii) of iii is ending. If the assumption is correct, after the end of the correction the pair will grow to the levels of 112.65–115.50. The level of 109.35 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 109.35 with the targets at 112.65–115.50. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 109.35 will let the pair go down to the levels of 108.81–108.00.
usdjpy ka trend strong buy ka ban chuka hay aor usdjpy ki abhi tk ki price movement 110.29 sy 110.70 tk ki howi hay aor Trader usdjpy ko 110.20 ya 110.50 tk ki price sy buy kar sakta hay aor Trader usdjpy ko take profit 111.50 , 111.80 aor 112.00 tk ka laga sakta hay aor Trader usdjpy ko stop loss 110.00 tk ka laga kr trading safe kar sakta hay aor Trading sy thek profit earn kr sakata hay
Usdjpy pair trading up levels movement with my today forecast and analysis usdjpy pair trend is up :
Up Levels are : 111.80
Normal Levels are : 111.28
Down Levels are : 109.82
Quotes of USD/JPY grow in the course of today's Asian session and have moved up to 110.64. Due to the absence of important releases from Japan, the USD/JPY movement is speculative.
Today market players will pay attention to statistics from the USA. ADP Employment Change Report is due today at 17:15 GMT+5. The indicator is expected to grow to 190K in June from 178K a month earlier. If the data are at or above forecasts, the pair will receive support in the short term.
At 23:00 (GMT+5) the FOMC minutes are expected from which investors hope to understand the further actions of the American regulator regarding the interest rate increase.
yes you are right due to japan earth quake its fall many pips..but now we can see little bit improvement near 80.16..and once again this pair at this price level so we expect little bit more improvement.
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