USDJPY rebound from 79.27, suggesting that the cycle bottom is being formed. Further increases may be seen and the first target would be 80.00 to 80.25 area.
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USDJPY rebound from 79.27, suggesting that the cycle bottom is being formed. Further increases may be seen and the first target would be 80.00 to 80.25 area.
I think all time low record is around 76, not around 78.88. Anyways i was think it gonna go up when it was around 80 and now it touch 80.35, i think we can see around 80.70 in good like forex forum indian good like
usd/jpy technical analysis by using : average directional movement index
adx : 46.5538
+di : 24.6082
-di : 7.0420
timeframe : 1 hour
time : 1900
date : 31.10.2012
The trading range for today is among key support at 78.50 and key resistance now at 81.05.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
Usd/jpy could risen strong and broke weekly pivot point (79.74) yesterday and closed in level 79.76. Price able up with positif sentiment although there is downward trend in long term. Price still moving up now and predicted continuing up and touch daily ressistance 1 level (79.97).
The dollar firmed against the yen on Thursday ahead of the release of the latest Chinese purchasing managers index.
Hopes for a strong number sent the Japanese currency falling in anticipation for a risk-on trading session, though markets remained in a wait-and-see mode that was bullish for the greenback.
In Asian trading on Thursday, USD/JPY was trading at 79.89, up 0.15%, up from a session low of 79.85 and off a high of 79.90.
The pair was likely to find support at 79.52, Wednesday's low, and resistance at 79.96, Wednesday's high.
Later Thursday, China will release official data on manufacturing activity, a leading indicator of economic health.
A similar report from HSBC Holdings is due out as well.
Hopes for improvements from previous reports sent the yen falling.
The dollar, meanwhile, saw gains on weak output data at home.
The Institute for Supply Management-Chicago reported earlier that its October index of Midwest business activity rose to 49.9 from 49.7 in September, though analysts were expecting a reading of 51.0.
A reading of below 50.0 indicates a contracting sector.
The numbers dampened appetite for risk in the U.S., sending investors to the safety of the dollar.
Failure to pass back double top 80.13, USDJPY seems to be turned down again tried to penetrate the 79.98 level again. The success of penetrating 79.98 then the next target in the near future is the 79.75 level, but if you persist in this area is likely to rebound back to test 80.13 resistance.
long positions at 79.75 with 80.15 and 80.30 as next targets
the breakout of 79.55 will call for arebound towards 79.25
The U.S. dollar was higher against the yen on Thursday, after Chinese data showed that manufacturing activity improved, while fresh easing measures by the Bank of Japan also weighed on demand for the yen.
USD/JPY hit 80.13 during late Asian trade, the pair’s highest since Tuesday; the pair subsequently consolidated at 79.99, gaining 0.29%.
The pair was likely to find support at 79.51, Wednesday’s low and resistance at 80.37, the high of October 26 and a four-month high.
Market sentiment found support after official data showed that China’s manufacturing purchasing managers’ index came in at 50.2 in October, up from 49.8 in September, just slightly below forecasts for a reading of 50.3.
A separate report showed that the final reading of China’s HSBC PMI came in at 49.5 in September, an eight month high.
The data eased concerns over a slowdown in the world’s second largest economy, but investors remained cautious ahead of U.S. data on nonfarm payrolls on Friday and the U.S. presidential elections next week.
The yen also came under pressure as investors resumed selling the currency, following initial disappointment after the BoJ’s easing on Tuesday.
The BoJ increased the size of its asset purchase program by JPY11 trillion, disappointing expectations for more aggressive easing measures.
usd/achieves increased significantly with the start of trading today, where now skips psychological level 80.00 supported by positive clearly shown by the Stochastic.
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