The USDJPY had a bearish momentum yesterday bottomed at 117.05 and hit 116.30 earlier today in Asian session. The bias is bearish in nearest term testing 116.00 key support which is a good place to buy with a tight stop loss. Immediate resistance is seen around 117.00/20. A clear break above that area could lead price to neutral zone in nearest term testing 117.75 or higher.
Overall I remain bullish but a clear break below 116.00 would interrupt the bullish scenario testing 114.80 area.
The USDJPY continued its bearish momentum yesterday broke below 116.00 key support as you can see on my H1 chart below. This fact is a serious threat to the bullish scenario. The bias remains bearish in nearest term testing 114.60 area. Immediate resistance is seen around 116.00/25.
A clear break above that area could lead price to neutral zone in nearest term testing 117.00 but would give the bullish scenario another chance.
The USDJPY was indecisive last week. Price slipped below 116.00, but closed higher at 116.94 and hit 117.43 earlier today in Asian session. This fact could create a false breakdown bullish scenario and keep the major bullish outlook remains valid. The bias is bullish in nearest term testing 118.00/60 area. Immediate support is seen around 116.80.
A clear break below that area could lead price to neutral zone in nearest term retesting 116.00 support area.
The USDJPY had a bearish momentum yesterday bottomed at 115.95 and hit 115.49 earlier today in Asian session. The bias is bearish in nearest term. From an H4 chart perspective as you can see on my H4 chart below, it is clear that price is still in a bullish condition but currently under downside pressure after formed a double top formation at 118.60 and now seems ready to test H4 EMA 200 located around 114.60 region. Immediate resistance is seen around 116.20. A clear break above that area could lead price to neutral zone in nearest term testing 117.00 area.
The USDJPY was indecisive yesterday. The bias is neutral in nearest term. The major bullish outlook remains valid, but price is still in a bearish correction phase after formed a double top formation at 118.60. Immediate support is seen around 115.50 followed by 115.00 but key support remains at 114.60 area.
Immediate resistance is seen around 116.50 followed by 117.20.
The USDJPY had another indecisive movement yesterday. Price slipped below 114.60 key support but closed higher at 115.41. The bias is neutral in nearest term. The major bullish scenario remains valid, but a clear break and daily close below 114.60 would expose 113.00 region. Immediate resistance is seen around 115.60.
A clear break and daily close above that area could trigger further bullish pressure testing 116.00/50 region.
The USDJPY attempted to push lower yesterday bottomed at 113.75 but closed higher at 114.70. Price is still in a bearish phase after formed a double top formation at 118.60, but still unable to make a clear and consistent movement below 114.60 support. The bias is neutral in nearest term probably with a little bullish bias testing 116.00. On the downside, a clear break and daily/weekly close below 114.60 would expose 113.00 – 112.50 area next week.
On the upside, a clear break and daily/weekly close back above 116.00 would give the major bullish scenario another chance retesting 118.60 area.
The USDJPY had a bearish momentum last week bottomed at 113.75. That said, price is still struggling around 114.60 key support and we haven’t seen a clear movement below that area so far, but nearest term bias should remain bearish as a part of the double top bearish scenario (118.60) testing 112.80 this week. Immediate resistance is seen around 114.80.
A clear break above that area could trigger further bullish pressure testing 115.50 region.
The USDJPY was indecisive yesterday but overall still able to maintain its bearish bias since formed the double top formation at 118.60 as you can see on my H1 chart below. The bias is bearish in nearest term testing 112.80. Immediate resistance is seen around 114.60.
A clear break above that area could lead price to neutral zone in nearest term testing 115.00/20 area.
The USDJPY continued its bearish momentum yesterday bottomed at 112.59. The bias remains bearish in nearest term testing 112.00 – 111.30 region. Immediate resistance is seen around 113.50/75.
A clear break above that area could lead price to neutral zone in nearest term but as long as stay below 114.60 price is still in a valid bearish phase after formed the double top formation at 118.60 as you can see on my H4 chart.
