The USDJPY had a bullish momentum last week topped at 107.00 but corrected lower and close at 106.26 on Friday. The bias is neutral in nearest term. Price slipped above the minor bearish channel as you can see on my H1 chart below suggests a potential end to the bearish correction phase especially if price able to break above 106.50 retesting 107.00 or higher.
Immediate support is seen around 105.90. A clear break below that area would erase the H1 chart bullish bias testing 105.30 or lower. Overall I remain neutral.
The USDJPY had a bearish momentum yesterday bottomed at 105.64. From a daily chart perspective as you can see on my daily chart below price is moving inside a bearish channel suggests a bearish outlook which supported by the fact that price also moving below the EMA 200. The bias is bearish in nearest term testing 105.30 area.
Immediate resistance is seen around 106.45. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I remain neutral.
The USDJPY had a bullish momentum yesterday topped at 106.65. The bias is bullish in nearest term, but price is now struggling around the upper/resistance line of the bearish channel as you can see on my daily chart below, which is a good place to sell with a tight stop loss above 107.00.
Immediate support is seen around 106.10. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish phase alive and kicking testing 105.50 area or lower. On the upside, a clear break and daily close above 107.00 would invalidate the bearish phase testing 108.50 or higher this week. Overall I remain neutral.
The USDJPY attempted to push lower yesterday bottomed at 105.98 but whipsawed to the upside, closed higher at 106.75 and hit 107.01 earlier today in Asian session. Price slipped above the bearish channel as you can see on my daily chart below which invalidates the bearish phase. The bias is bullish in nearest term testing 108.00/50 region.
Immediate support is seen around 106.50. A clear break and daily close back below that area could create a false breakout bearish scenario testing 106.00 – 105.50 region. Overall I remain neutral.
The USDJPY had a bullish momentum yesterday after broke above the bearish channel as you can see on my daily chart below, topped at 107.48. The bias remains bullish in nearest term testing 108.00/50 area.
Immediate support is seen around 107.00. A clear break below that area could lead price to neutral zone in nearest term testing 106.70/50 support area. Overall I remain neutral.
The USDJPY continued its bullish momentum last week, broke above the bearish channel as you can see on my daily chart below. This fact invalidates the bearish phase and turn my short term bias into a bullish bias with nearest target seen around 108.00 – 108.50 region.
Immediate support is seen around 106.50. A clear break and daily close below that area could trigger further bearish pressure testing 106.00 or lower. Overall I remain neutral.
The USDJPY was indecisive yesterday, but traded higher earlier today in Asian session, hit 107.23 after an attempt to retest the violated resistance line (of a bearish channel) as you can see on my daily chart below. The bias is bullish in nearest term testing 107.50 area. A clear break and daily close above that area would expose 108.50 region.
Immediate support is seen around 106.85. A clear break below that area could lead price to neutral zone in nearest term testing 106.50 region. Overall I remain neutral.
The USDJPY had a bearish momentum yesterday bottomed at 107.02 and hit 106.95 earlier today in Asian session. The bearish pin bar I showed you yesterday gave a valid bearish signal. The bias remains bearish in nearest term testing 106.60 support area.
Immediate resistance is seen around 107.77. A clear break above that area would invalidate the bearish pin bar scenario and resume the bullish phase targeting 108.50 region. Overall I remain neutral.
The USDJPY didn’t make significant movement yesterday. The bias is neutral in nearest term. The bullish scenario after broke above the bearish channel remains intact but price has been moving sideways between 107.77 – 106.60 range area as you can see on my daily chart below and we need a clear break from that range area to see clearer direction.
A clear break and daily close above 107.77 would expose 108.50 or higher. On the other hand, a clear break and daily close below 106.60 would resume the bearish pin bar scenario testing 106.00 or lower. Overall I remain neutral.
The USDJPY had a bullish momentum yesterday topped at 107.37 and hit 107.51 earlier today in Asian session. The bias is bullish in nearest term testing 107.77 resistance area. A clear break and daily close above that area would expose 108.50 region or higher as a part of the bullish scenario after broke above the bearish channel as you can see on my daily chart below.
Immediate support is seen around 107.17 (current low). A clear break below that area could lead price to neutral zone in nearest term testing 106.60 support area. Overall I remain neutral.
