Usd/Jpy

[niknik]

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

[Alex]

It seems worth to expect deeper southern correctional wave, as there was a retreat from the 84.16 resistance and began practiced stochastic signal is also open to the north gepom was on an (north) trend that has been present for the bulls, and she began to record their long positions.

[PTtrader]

USD/JPY intraday: further upside.
Pivot: 83.70.
My preference: LONG positions above 83.7 with 84.2 & 84.4 as next targets.
Alternative scenario: The downside penetration of 83.7 will call for a slide towards 83.4 & 83.2.
I believe the pair remains on the upside and should post further advance.

I agree with your analysis .. i will buy dips .. 83.60 - 83.45 - 83.30 with SL 82.90

[Boran7]

the opening of today's session was open to the north gepom occurred about the long-term resistance of 84.13 and now the pair began to block this HepB, still waiting for the resumption of growth in the North-I think it will happen on 83.65 + - while adding another purchase.

[santiika]

USD/JPY Weekly Outlook

USD/JPY jumped further to as high as 83.96 last week but lost some momentum ahead of 84.17 and retreated. Initial bias is neutral this week first. Further rise is still expected as long as 81.68 support holds, but we'll start to be cautious on reversal signal from now on, in particular inside 84.17/85.51 resistance zone.

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. However, decisive break of 85.51 will be a sign of medium term reversal and strong rise should then at least be seen to 55 months EMA (now at 87.42) and above.

In the long term picture, with 85.51 resistance intact, there is no scope for trend reversal yet. Though, some more consolidative trading would be seen in medium term above 75.56 first before the long term down trend from 124.13 eventually resumes to 70 psychological level.

---------- Post added at 04:07 PM ---------- Previous post was at 02:34 PM ----------

USD/JPY Daily Outlook

Daily Pivots: (S1) 83.22; (P) 83.59; (R1) 83.86;

USD/JPY jumps further to as high as 84.32 today and breached 84.14 resistance. Intraday bias remains on the upside for the moment for further rally. Nonetheless, we'd continue to be cautious on reversal signal from now on, in particular inside 84.17/85.51 resistance zone. Though, break of 82.83 support is needed to indicate short term topping first. Otherwise, outlook will 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. However, decisive break of 85.51 will be a sign of medium term reversal and strong rise should then at least be seen to 55 months EMA (now at 87.42) and above.

[sheila]

Support: 82.96
Pivot: 83.59
Resistance: 84.23

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

[arshad701]

the again was able to make some good move against the yen during the market today.the market was at 79.09 when i join the market and i was able to online long enough to see the fall of the yen from 79.09 to 79.31 though i wasn't trading on the yen platform but i was able to take a lesson or two.

[secret alibi]

USDJPY’s upward movement from 82.11 extends to as high as 84.33. Further rise could be expected after a minor consolidation,
and next target would be at 84.50 area.
Support is at 83.65, as long as this level holds, the uptrend will continue.

[hamza661]

USD/JPY intraday: bounce.
Our preference: Long positions above 83.7 with targets @ 84.2 & 84.4 in extension.

Alternative scenario: Below 83.7 look for further downside with 83.2 & 82.9 as targets.

Key levels
84.7
84.4
84.2
84.161 last
83.7
83.2
82.9

[erespe]

The pair was opened above 2nd resistance level with gap, so it is possible to go down to close the gap. It is likely to fall towards 83.59 or lower.