The US dollar was down against the Japanese Yen on Friday. By the end of the trading session USD/JPY is traded at 104.83, shedding 0.47%. I believe that the support is now located at around 100.42, Monday's low, and resistance is likely at the level of 106.31 - a maximum of Friday's trading.
Perhaps the market is too aggressive in their expectations regarding the "helicopter money"? Incentives will come, but when? JPY crosses are in risk to form a top, if interest in safe assets, which was active after Brexit, did not return.
The US dollar was down against the Japanese Yen on Friday. By the end of the trading session USD/JPY is traded at 104.83, shedding 0.47%. I believe that the support is now located at around 100.42, Monday's low, and resistance is likely to beat the level of 106.31 - a maximum of Friday's trading.
The high degree of uncertainty around JPY indicate active currency fluctuations during yesterday's trading. Rising yen potential looks more limited than reduction perspectives, but all will depend on the decision of the Bank of Japan tomorrow.
The US dollar was down against the Japanese Yen on Friday. At the closing of trading session EUR USD / JPY has traded at 102.03, shedding 3.08%. I believe that the support is now located at the level of 101.97, the low of Friday's trading, and resistance is likely at level of 106.73 - a maximum of Monday.
The dollar recorded a losing session against the yen on Tuesday. The US currency continued the negative trend from last week and lost further ground against the yen. As a result, the support at 101.37 was pierced, and if bearish sentiment continues in the future, the pair will test the level at 98.36. The session started at a price of 102.38, the dollar lost 150 pips to the end of the session. Bottom of the day was struck at 100.68.
As expected, the dollar/yen continued its bearish momentum yesterday, bottomed at 100.67. Trading signals remain down to test 100.00. A clear break and daily close below that area could trigger further bearish pressure testing to 98.80. Resistance for the day is 101.50. A clear break above that area could lead price to neutral zone testing 102.00 but overall I still prefer a bearish scenario.
The US dollar was down against the Japanese Yen on Friday. By the end of trading session USD/JPY was traded at 101.27, shedding 0.68%. I believe that the support is now located at the level of 100.85, the low of Friday's trading, and resistance is likely to be at the level of 102.67 - a maximum of Monday.
Dollar/yen continued downward momentum last week, bottomed at 99.53. The pair was traded higher earlier this morning and hit 100.92. The signals are up for testing 101.15/50 in the near future. A clear break above that area could trigger further bullish pressure testing 102.00, but basically I still prefer a bearish scenario. Immediate support is at 100.30, whose breakthrough could lead the price to neutral zone for testing 90.50.
The dollar registered a neutral session against the yen on Thursday. The pair traded in a narrow range, the difference between the highest and lowest value for the day was only 32 pips. Trade was open by a rate of 100.43, and the finish line was crossed at a price of 100.53, if the positive momentum from Wednesday continues in future, the couple will overcome the resistance at 101.16.
USD/JPY
The pair broke a two-day positive series on Thursday after failing to overcome the psychological barrier at 104.00. The US dollar fell by about 20 pips to a closing price of 103.22 but managed to remain profitable since the beginning of the week. The bottom of the session was reached at 103.05. The price remains above the rising moving averages, but RSI lost positions, putting the Bulls to the test.
Dollar/yen continued downward momentum yesterday, bottomed at 101.92 and hitting 101.18 earlier today. Commercial bias remains bearish for test of 100.70 as part of the bearish scenario of false breakout (above 104.00). A clear break and daily close below 100.70 could trigger further downside pressure for testing 99.50. Immediate resistance is at 102.00. A clear break above that area could lead price to neutral trading zone but overall I remain in the camp of bears.
The US dollar recorded a modest rise against the yen on Wednesday. The pair added 27 pips at a closing price of 100.68. Daily extreme points were reached respectively at 100.25 and 100.81. Given the growing positive attitude, successfully overcoming the corresponding peak, followed by 101.20, will witness a new increase of USD/JPY.
Japanese yen and its crosses - news, forecasts, analysis
