20 maggio 2012

USD/JPY Weekly Outlook

USD/JPY’s decline continued last week and reached as low as 78.99, breaking mentioned 61.8% retracement of 76.02 to 84.17 at 79.13. Initial bias remains on the downside the week and current fall should target 75.56/76.02 support zone in near term. On the upside, break of 80.54 resistance is needed to
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USD/JPY Mid-Day Outlook

Intraday bias in USD/JJPY remains on the downside for the moment. Sustained trading below 61.8% retracement of 76.02 to 84.17 at 79.13 should target 75.56/76.02 support zone next. On the upside, break of 80.54 resistance is needed to signal short term bottoming. Otherwise, near term outlook will remain bearish even in case of recovery.
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USD/JPY Mid-Day Outlook

No change in USD/JPY’s outlook. Recovery from 79.42 could continue. But still, with 80.61 minor resistance intact, outlook remains cautiously bearish and recent decline is still expected to continue. Below 79.42 will target 61.8% retracement of 76.02 to 84.17 at 79.13 first. Break will pave the way to 75.56/76.02 support
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USDJPY Falls Further And Further But Finds Support At 61.8%

The USDJPY has been a one way street since the worse than expected US data and is now testing the 61.8% of the 2012 range at the 79.13. The low bounced off this level.
Below that level and a bottom trendline connecting most recent lows comes in at the 79.93 level.
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USD/JPY Falling Sharply From Range Resistance and BoJ Chatter

USD/JPY failed to break above the May high and essentially range resistance at about 80.55. So no returning to 50% retracement at 81.78 for now, especially now that it has falling below 80.00 and even a trendline seen int he 4H chart during the 5/17 US trading session.

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USD/JPY Daily Outlook

No change in USD/JPY’s outlook. Recovery from 79.42 is still in progress but with 80.61 minor resistance intact, outlook remains cautiously bearish and recent decline is still expected to continue. Below 79.42 will target 61.8% retracement of 76.02 to 84.17 at 79.13 first. Break will pave the way to 75.56/76.02
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USD/JPY Mid-Day Outlook

USD/JPY’s recovery from 79.42 extends higher but is still limited below 80.61 resistance. Outlook remains cautiously bearish and recent decline is still expected to continue. Below 79.42 will target 61.8% retracement of 76.02 to 84.17 at 79.13 first. Break will pave the way to 75.56/76.02 support zone. However, above 80.61
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USD/JPY Breaks Above Channel Resistance; Trades at May High

USD/JPY indeed bottomed out in the short-term and broke above a declining channel resistance. The 1H chart shows the bottoming formation.  There is resistance in the 80.50-80.60 area. This is the May high established in the beginning of the month. Above this pivot, some resistance can be…

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USD/JPY Daily Outlook

USD/JPY’s consolidation from 79.42 temporary low is still in progress and intraday bias remains neutral. Near term outlook remains mildly bearish with 80.61 minor resistance intact. Current decline from 84.17 is expected to resume soon and below 79.42 will target 61.8% retracement of 76.02 to 84.17 at 79.13 first. Break
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USD/JPY Mid-Day Outlook

USD/JPY’s consolidation from 79.42 temporary low is still in progress and intraday bias remains neutral. Near term outlook remains mildly bearish with 80.61 minor resistance intact. Current decline from 84.17 is expected to resume soon and below 79.42 will target 61.8% retracement of 76.02 to 84.17 at 79.13 first. Break
Action Insight (All Reports)

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