The USDJPY was indecisive yesterday. Price attempted to push lower earlier today in Asian session, slipped below 108.70 key support, hit 108.33 but traded higher and struggling around 108.70 at the time I wrote this comment. Overall I still prefer a bearish scenario but need a clear break and daily close below 108.70 to confirm the bearish continuation scenario testing 108.00 – 107.50 area as nearest bearish target.
Immediate resistance is seen around 109.25 (current high). A clear break and daily close back above that area could trigger further bullish pressure retesting 109.85 key resistance.
The USDJPY attempted to push lower yesterday bottomed at 108.26 but whipsawed to the upside and closed higher at 109.73. As you can see on my daily chart below, the pair printed a bullish pin bar formation after a false break below 108.70 key support, suggests a bullish view especially if price able to make a clear break above 109.85 key resistance targeting 111.00 region.
On the downside, 108.70 remains a key support. We need a clear break and consistent movement below that area to continue the bearish phase testing 108.00 – 107.50 as nearest bearish target.
The USDJPY had a bullish momentum yesterday, broke above 109.85 resistance and hit 110.54 earlier today in Asian session. The bullish pin bar on daily chart I showed you yesterday gave us a valid bullish signal. The bias is bullish in nearest term testing 111.00 region, which located around the daily EMA 200.
Immediate support is seen around 109.85. A clear break back below that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I am neutral in this pair.
The USDJPY attempted to push higher yesterday topped at 110.67 but closed lower at 109.96. The bias is neutral in nearest term but price is still in a bullish phase after formed a valid bullish pin bar on Tuesday with nearest bullish target seen around 111.00 region.
Immediate support is seen around 109.85. A clear break below that area could trigger further bearish pressure testing 109.40 but key support remains at 108.70 area. Overall I remain neutral.
The USDJPY attempted to push lower last week slipped below 108.70 but whipsawed to the upside and closed higher at 110.25. Price has been moving sideways without clear direction between 108.70 – 111.00 range area for 5 weeks as you can see on my daily chart below. The bias is neutral in nearest term.
Immediate support is seen around 108.70. A clear break and daily close below that area could trigger further bearish pressure testing 108.00 – 107.50 region or lower. Immediate resistance is seen around 110.50 followed by 111.00. Overall I remain neutral and prefer to stand aside for now.
The USDJPY didn’t make significant movement yesterday but traded lower earlier today in Asian session hit 109.20. The bias is bearish in nearest term testing 108.70 key support. A clear break and daily close below that area could trigger further bearish pressure testing 108.00 – 107.50 area as nearest bearish target.
Immediate resistance is seen around 109.83 (current high). 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 bearish momentum yesterday bottomed at 108.63 and hit 108.50 earlier today in Asian session. The bias is bearish in nearest term but note that we need a clear break and consistent movement below 108.70 to continue the bearish pressure targeting 108.00 – 107.50 or lower.
Immediate resistance is seen around 109.25. A clear break above that area could lead price to neutral zone in nearest term testing 109.80 – 110.00 region. Overall I remain neutral.
The USDJPY attempted to push lower yesterday slipped below 108.70 key support but again, unable to make a clear break below that key level and closed higher at 109.17. The bias is neutral in nearest term. Key support remains at 108.70, which is a good place to buy with a tight stop loss.
Immediate resistance is seen around 109.40. A clear break above that area could trigger further bullish pressure testing 110.00 region but key resistance is seen at 111.00 which is a good place to sell. On the downside, a clear break and consistent movement below 108.70 would expose 108.00 – 107.50 as nearest bearish target. Overall I remain neutral.
The USDJPY had a significant bearish momentum yesterday, closed below 108.70 key support as you can see on my daily chart below. This fact activates my bearish mode. The bias is bearish in nearest term testing 107.50/00 support area.
Immediate resistance is seen around 108.70. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear testing 109.25 resistance area.
The USDJPY had bearish momentum last week, bottomed at 107.31 but closed a little bit higher at 107.82 and hit 108.56 earlier today in Asian session. The bias neutral in nearest term but as long as stay below 108.70 I prefer a bearish scenario at this phase with nearest target seen at 106.50/00 area.
On the upside, a clear break and daily close back above 108.70 would reactivate my neutral mode as direction would become unclear, testing 109.25 resistance area or higher.
