FXTM information and reviews
OctaFX information and reviews
XM information and reviews
FXCC information and reviews
Libertex information and reviews
FxPro information and reviews

USDJPY restrained, unable to break neutralizing shackles

16 September 2020

USDJPY continues to be robbed of directional momentum as the pair lingers, controlled by the 105.09 and 107.00 boundaries of a sideways pattern. The Ichimoku lines and the cloud propose minimal change in price action, while the drifting tone of the simple moving averages (SMAs) reflects little promise in assisting a new direction.

Nonetheless, the short-term oscillators are slightly tilting towards an unfolding negative outcome. The MACD, in the negative region, has dipped below its red trigger line, while the RSI is falling in bearish territory, heading towards the 30 oversold mark.

A successful pivot from the floor of the pattern may see resistance develop from the red Tenkan-sen line at 105.84 until the 50-day SMA of 106.14, involving the cloud’s lower band and the blue Kijun-sen line. Slightly above, the 106.43 level may step into the spotlight, that being the 50.0% Fibonacci retracement of the up leg from 101.17 to 111.71. However, should buying interest persist, the 100-day SMA at 106.78 and the nearby ceiling of the range at 107.00, in-line with the cloud’s upper surface, could prove hard to overcome. Subsequently, the section from the 107.53 barrier to the 38.2% Fibo of 107.67, where the 200-day SMA also resides could deny further advances towards the 108.16 peak.

To the downside, immediate hardened support may arise from the 61.8% Fibo of 105.20 to the 105.09 low. If this base of the horizontal structure fails to obstruct further loss of ground, the key support zone of 104.18 to 104.50 may try to dismiss negative tendencies from evolving. Diving deeper though, the attention could shift towards the 76.4% Fibo of 103.66 and the 103.09 trough.

In brief, a break above 107.00 or below 105.09 is required to reveal the next direction in the short-term timeframe.




USD/JPY sticks to its consolidative theme
USD/JPY sticks to its consolidative theme

USD/JPY remains side-lined for the time being, note FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang. Yesterday, we highlighted that ‘upward momentum has slowed and USD is unlikely...

5 Aug 2022

USD/JPY pares intraday losses to multi-week low
USD/JPY pares intraday losses to multi-week low

USD/JPY stages a goodish bounce from a multi-week low touched earlier this Friday. Recovering US bond yields help revive the USD demand and offers support to the pair...

29 Jul 2022

The Yen updated the lows
The Yen updated the lows

USDJPY reached new highs – the “greenback” continues to get stronger. The Japanese Yen plunged against the USD. The current quote for the instrument is 137.02. A new high for the pair is at 137.28....

11 Jul 2022

The Yen may drop
The Yen may drop

USDJPY is preparing a new attack on the highs. The Japanese Yen is slowly falling against the USD. The current quote for the instrument is 136.16. The statistics published...

8 Jul 2022

200-hour SMA, around 135.60 might continue to cap the upside
200-hour SMA, around 135.60 might continue to cap the upside

USD/JPY recovered a few pips from the daily low, though lacked any follow-through buying. Ascending trend-line breakdown and failure near the 200-hour SMA favours bearish traders...

4 Jul 2022

The Yen hit new lows
The Yen hit new lows

USDJPY updated its 24-year highs and may continue rising. The Japanese Yen hit a new 24-year low against the USD. The current quote for the instrument is 136.25. The high in USDJPY...

22 Jun 2022

HFM information and reviews
IronFX information and reviews
FXCM information and reviews
Pepperstone information and reviews
NordFX information and reviews
LegacyFX information and reviews

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.