The USDJPY had a bearish momentum last week bottomed at 105.59. The bias is bearish in nearest term testing 105.50 support area. The descending triangle scenario seems valid, but need a clear break below 105.50 to confirm the bearish scenario testing 104.25 region.
Immediate resistance is seen around 106.35. A clear break above that area could lead price to neutral zone in nearest term but only a clear break above 107.00 would invalidate the descending triangle bearish scenario. Overall I remain neutral.
The USDJPY was indecisive yesterday. The bias remains bearish in nearest term testing 105.50 support area which need to be clearly broken to the downside to confirm the descending triangle bearish scenario testing 104.25 area.
Immediate resistance is seen around 106.35. A clear break above that area could lead price to neutral zone in nearest term but only a clear break above 106.65 would invalidate the descending triangle bearish scenario. Overall I remain neutral.
The USDJPY had a bullish momentum yesterday topped at 106.60. The bias is bullish in nearest term. Price is now testing the upper line of the descending triangle formation as you can see on my daily chart below suggests a critical technical point. A clear break above 106.65 would invalidate the descending triangle bearish scenario.
Immediate support is seen around 106.35/25 region. A clear break back below that area could lead price to neutral zone in nearest term but would keep the descending triangle scenario remains alive and kicking retesting 105.50 key support area. Overall I remain neutral.
The USDJPY failed to continue its bullish momentum yesterday bottomed at 105.87 and hit 105.56 earlier today in Asian session after bounced-off the upper line of the descending triangle as you can see on my daily chart below. The bias is bearish in nearest term testing 105.50 key support. A clear break and daily close below that area would confirm the descending triangle bearish scenario testing 104.25 area.
Immediate resistance is seen around 106.05. A clear break above that area could lead price to neutral zone in nearest term but only a clear break above 106.50 would invalidate the descending triangle bearish scenario.
The USDJPY had a significant bearish momentum yesterday, broke below the descending triangle formation as you can see on my daily chart below, bottomed at 105.25 and hit 104.63 earlier today in Asian session. This fact confirms the descending triangle bearish scenario. The bias is bearish in nearest term testing 104.25 area.
Immediate resistance is seen around 105.50. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. On the downside, a clear break and daily/weekly close below 104.25 would expose 102.50 next week.
The USDJPY had a significant bearish momentum last week, broke below the descending triangle formation as you can see on my daily chart below. The bias is bearish in nearest term testing 104.25 area.
Immediate resistance is seen around 105.50. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear. On the downside, a clear break and daily close below 104.25 could trigger further bearish scenario testing 102.50 region.
The USDJPY failed to continue its bearish momentum yesterday and now moving back inside the descending triangle formation as you can see on my daily chart below. This fact invalidates the descending triangle scenario. The bias is bullish in nearest term testing 106.05 region.
Immediate support is seen around 105.37 (current low). A clear break below that area could lead price to neutral zone in nearest term testing 104.62 region. Overall I remain neutral.
The USDJPY was indecisive yesterday. The bias is neutral in nearest term. The descending triangle bearish formation is no longer valid. This doesn’t automatically mean that I am in a bullish mode now, but as long as stay above 105.30 price is still in a short term bullish bias after bounced-off 104.62 level as you can see on my H1 chart below.
Immediate resistance is seen around 105.89 (yesterday’s high). A clear break above that area would continue the short term bullish phase testing 106.63 region. On the downside, a clear break back below 105.30 would retest 104.62 area. Overall I remain neutral.
The USDJPY had a bullish momentum yesterday topped at 107.00. The bias is bullish in nearest term testing 107.50 area. Immediate support is seen around 106.30.
A clear break below that area could lead price to neutral zone in nearest term testing 105.90 region but overall I still prefer a bullish scenario at this phase and any downside pullback should be seen as a good opportunity to buy. On the upside, a clear break and daily close above 107.50 would expose 108.25 or higher. Overall I remain neutral.
The USDJPY was corrected lower yesterday bottomed at 106.25 and hit 106.13 earlier today in Asian session. The bias is neutral in nearest term. My H1 chart bullish bias remains valid, but price is moving inside a minor bearish channel as you can see on my H1 chart below suggests a bearish correction testing the trend line support and 105.90 region.
A clear break below 105.90 would expose 105.30 and erase the H1 time frame bullish bias. On the upside, we need a clear break above the bearish channel and 106.50 area to resume the bullish phase testing 107.00 or higher. Overall I remain neutral.
