USD/JPY: general review

23 October, 2014

Current trend

Yesterday, the pair USD/JPY has grown amid the rise in the USD. Following the release of the US consumer price index, which has grown by 0.1%, exceeding the forecast, the USD started to regain lost positions. This week the pair USD/JPY has been trying to consolidate after the recent decline. The price has consolidated above the level of 107.00 after closing at the level of 107.13 at the end of the trading day yesterday. At today’s opening session the pair has maintained yesterday’s momentum, continuing to rise and trading at the level of 107.50.

Some US news is scheduled for the release today. If labor market data and business activity index in the manufacturing sector prove to be above expectations, it can become an additional driver for the rise in the USD against Japanese Yen.

Support and resistance

Resistance levels: 107.83 (middle line of Bollinger bands), 109.00 (important psychological level), 110.08 (lows of 1 October).

Support levels: 107.09 (lows of the Asian session), 106.55 (moving average with the period of 55 days), 105.60 (Fibonacci retracement of 50%).

Trading tips

If the price exceeds the level of 107.85 it will boost the rise up to the level of 109.00.  

Andrey Cherkas

Analyst of LiteForex Investments Limited

Presented by LiteForex

USD/JPY eases from 2-month tops

Fading safe-haven demand continued weighing on the JPY and provided a goodish lift on Tuesday. The ongoing slide in the US bond yields...

Yen flexes bullish muscles

Everyone wanted a piece of the Japanese Yen on Wednesday after disappointing ADP payroll data from the United States and gloomy outlook on trade...

Yen shunned as risk appetite improves

The Japanese Yen is entangled in losing battle against every single G10 currency today as risk appetite improves on trade optimism and...


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...

  


Share it on:   or