Usd/Jpy

[niteshforex]

we would not at all be surprised to see the formation of a material base in favor of significant upside back towards the 82.00 area over the coming sessions. In the interim, any intraday setbacks should now be well supported above 78.00.

[gururaj]

Pair within a very narrow range since the morning, while the index AROON - a trend indicator - still reflects the strength of the patch, which began at 76.25. And we will not consider this patch only if the penetration level of 78.45 decisively.

[niteshforex]

The USD/JPY will remain bearish as long as below 78.50, �yet needs to lose again 78.10 to resume its long term bearish trend, and retest the 76.20/40 price zone,� says Valeria Bednarik, Chief Analyst at FXstreet.com. �Intervention rise has price now below the 50% retracement at mentioned 78.50.�

[gururaj]

Break would bring 76.84, where correction is possible. Then 76.52, where a correction may also happen. Break of the latter will give 76.33. If a strong impulse, we would see 76.17. Continuation would give 75.91,” he adds.

[niteshforex]

The spot rate approaches the upper limit of its medium term bearish channel to 80.20. A break of these levels would free up significant potential and initiate a bullish trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 80.20 with a 1st objective of 81.00, then 81.30. A break in 79.90 would invalidate this scenario.

[gururaj]

Baba and Lee at Goldman Sachs said that Japan has been buying U.S. Treasuries when it sells yen, leaving it with more than 30 trillion yen in unrealized losses that will test the government�s �true determination� to combat the currency�s rise.

[niteshforex]

USD/JPY rebound strongly last week on massive Japan intervention. But so far, upside was limited below near term falling trend line resistance and the pair also failed to sustain above the falling 55 days EMA. there is no confirmation of reversal yet. Initial bias is neutral this week.

[gururaj]

The USDJPY exchange rate remains firmly correlated with Treasury yields, so all things being equal, an increase in US borrowing costs that is implied by the downgrade could be expected to send the pair higher.

[niteshforex]

The Bank of Japan raised its total asset-purchase program to approximately �50 trillion, from �40 trillion previously. The Bank of Japan retained the benchmark uncollateralized overnight call rate at 0 to 0.1%.

[gururaj]

USD/JPY remains neutral for the moment. Note that despite the strong rebound from 76.20, USD/JPY is held by near term falling trend, not to mention 82.22 key resistance