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USDJPY traded remained below 82.66 resistance area and has the potential to reach the area above the 83.00 level. Meanwhile, if the 82.66 resistance area can not be penetrated, it has the potential to go down again reached 81.82 support area, with a projected target of a significant reduction in the level of 81.00.
The current trend upward trend and target 80.65, then 80.80 Stop Loss 80.35 if headed for the lowest price breakers 80.35 points, the trend turn to the downside targeting 80.15 and 80
Bullish strong on USDJPY, the pair is now located at first resistance level which is 83.54. Although the trend is still strong, the pair may have correction first before it will continue its bullish.
Support: 82.19
Pivot: 83.01
Resistance: 83.82
trendspotter buy
7 day average directional indicator buy
10-8 day MA hilo channel buy
20 day MA VS Price buy
20-50 Day MACD oscillator buy
20 Day Bollinger Bands buy
Technical Analysis for USDJPY 100% Buy
No change: “Trade since 8283 may compose a triangle. Friday’s FX Technical Weekly provides a detailed look at what may be going on longer term. Near term, the 4th wave interpretation suggests a terminal thrust higher through 8283. Watch 8356 for a reversal.”
FOREXTrading Strategy: Continue looking higher. I expect a reaction at 8356 if reached. Risk on longs is now 8211 and 8283 (former resistance) is probably support.
LEVELS: 8230 8255 8283 8356 8117 8500
the price now on was move on near that so strong supply zone (83.25). So, just wait and see for the price candle reaction . it's more better action for now.
The yen fell 0.25% to Y82.78 level against the U.S. dollar after the Japanese government informed of the launch of rockets from North Korea around 9:49 am on Japan time. The rocket headed south, passing Okinawa and fell into the sea east of the Philippines. During the European session the yen continued to weaken falling to its lowest level in more than eight months against the dollar amid the speculation that the central bank of the U.S. and Japan will conduct measures to support their economies. The issue caused reducing of the demand for safe haven assets. The USD / JPY pair rose to Y82.93 level.
After a sideways consolidation, USDJPY breaks above 82.83 resistance and reaches as high as 83.43,
suggesting that the uptrend form 79.07 has resumed. Further rise could be expected after a minor consolidation,
and next target would be at 84.00 area. Support is at 82.85, as long as this level holds, the uptrend will continue.
Spoiler:
Daily Pivots: (S1) 82.73; (P) 83.01; (R1) 83.54;
USD/JPY rises to as high as 83.63 so far today and is gaining strong momentum. Intraday bias remains on the upside and current rise from 77.13 should now target 84.17 key resistance level next. We'd be cautious on topping signal after USD/JPY breaks this resistance. But after all, break of 82.11 support is needed to be the first sign of near term reversal. Otherwise, we'll stay bullish.
In the bigger picture, rise from 77.13 is viewed as a leg inside the consolidation pattern from 75.56. Such rally could extend to 84.17 and above. But after all, there is no clear indication of long term trend reversal yet. As long as 85.51 resistance holds, we'd expect the downside from 124.13 to resume sooner or later to a new low below 75.56.
The pair continues rising and aiming to 83.933.
Resistance: 83.933, 84.866, 85.960
Support: 83.065, 82.219, 81.399