USD/JPY: analysis and forecast

8 October, 2014

Current trend

Last week the pair USD/JPY has reached the highs at 110.00. Market players have been expecting this level since last year. This week the pair started with the fall, but today it went up and is trading around 108.50. Prime minister of Japan Shinzo Abe claimed that weak Yen can affect SME, while Head of BOJ Haruhiko Kuroda doesn’t see any harm in low course of national currency. Chief Cabinet Secretary Yoshihide Suga mentioned that weak Yen didn't raise the volume of export, but he also stated that his opinion couldn’t be seen as an estimation of Yen course.

This week investors are waiting for the fundamental data on Japanese Manufacturing sector as well as US FRS Meeting Minutes.

Support and resistance

Support levels are 108.35, 108.00 and 107.75. The pair will meet resistance at 108.55, 108.85, 109.20, 109.45. The main target for the Bulls is 110.00.

Trading tips

Pending buy orders can be placed at 107.75, don't forget about stop-losses. Long-term buy orders can be opened at 109.00.

Ilya Laschenko

Analyst of LiteForex Investments Limited

Presented by LiteForex

USD/JPY recovers to 107 area

10-year US T-bond yield extends slide, drops below 2%. US Dollar Index stays calm near the 96 mark. Fed's Williams & Bostic, FOMC Chairman Powell...

Oscillates in a familiar trading range

The USD/JPY pair lacked any firm directional bias and seesawed between tepid gains/minor losses through the early European session on...

USD/JPY climbs to 1-week tops

Improving risk sentiment dents the JPY's relative safe-haven status. The USD remains supported by a solid rebound in the US bond yields. Focus now shifts...

USD/JPY backs away from highs

US Dollar Index retreats toward 97 area. Nikkei Manufacturing PMI in Japan improves slightly in March. Coming up: Retail sales and manufacturing...

USDJPY Jumps As UK Rejects No-Deal Brexit

The UK parliament rejected a no-deal Brexit on Thursday evening. This leads to speculation that the UK might formally ask the EU for an extension...

On Wednesday Yen slips in Asia

On Wednesday, the Japanese yen headed south versus its major peers because investor risk appetite improved during Asia trade, although worries...

USD/JPY keeps showing a negative trend

Since the beginning of the week, USD/JPY fell by 100 points. The currency pair is close to the round 109.000 with 109.550 acting as the closest...

USD/JPY started to grow after a long descent

Yesterday the quotes grew by 100 points and updated the local maximums. Right now the safe haven currency is consolidating and has good prospects...

USD/JPY in an aggressive sell-off

During the trading yesterday, the yen grew by more than 1% against the USD. The quotes reached 111.000 and can descend further. The local resistance...


Share it on:   or