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 Breaks Above Channel Resistance; Trades at May High
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
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USD/JPY Inverted Head and Four Shoulders?
USD/JPYs inverted head and shoulders attempt to start the 5/14 trading week did not work out. However the subsequent drop basically respected the shoulder level near 79.70. Into the 5/15 US trading session, the USD/JPY is pushing above 80.00 again. The inverted head and shoulders pattern is still…
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USD/JPY Mid-Day Outlook
No change in USD/JPY’s outlook. More consolidation could be seen above 79.42 temporary low. But 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)
USD/JPY Mid-Day Outlook
No change in USD/JPY’s outlook. More consolidation could be seen above 79.42 temporary low. But 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 pushes above 80.00; forms inverted head and shoulders
USD/JPYs attempt to push below 79.50 was held off last week with a low at about 79.40, and as the 5/14-5/18 trading week starts, the pair is climbing above 80.00. The 4H chart shows price action forming an inverted head and shoulders with the neckline near 80.00.
The RSI is about to push above 6…
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USD/JPY pushes above 80.00; forms inverted head and shoulders
USD/JPYs attempt to push below 79.50 was held off last week with a low at about 79.40, and as the 5/14-5/18 trading week starts, the pair is climbing above 80.00. The 4H chart shows price action forming an inverted head and shoulders with the neckline near 80.00.
The RSI is about to push above 6…
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USD/JPY Outlook May 14-18
USD/JPY remained in range and closed the week almost unchanged, as safe haven flows balanced upside pressure. The first release of GDP is the highlight of this busy week. Heres an outlook for the Japanese events and an updated technical analysis for USD/JPY.
Last week Japans current account sur…
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USD/JPY Weekly Outlook
Near term outlook in USD/JPY remains mildly bearish as long as 80.61 minor resistance holds. Current fall from 84.17 is expected to continue lower and 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. Meanwhile, above 80.61
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