USD/JPY Forecast: Strong selling pressure around 119.10

USD/JPY 17th April, 2015

USD/JPY fell again after testing strong resistance around 120.80 level, it moved back and forth during the last 2 weeks but, this time moves were not easy and the trend was not clear. Although, the same inner voice I’ve talked about in this post is still telling me that uptrend will resume soon. We will stop talking about these strong resistance levels: 120.80 or 122.02 for a while till USD/JPY finds a strong support. Based on my current analysis, I can see that we have 2 strong support levels around 116.60 and 117.50.

Non-farm payroll data was a real shock for the market watchers after expecting strong numbers, the weak numbers stressed on the market worries related to the timing of the rate hike and whether the economy is ready for it or not. Over all, it is too early to judge whether this weak NFP data is just a random fall or it is a new trend for the employment in united states. We’ve to wait for April’s report.

The USD/JPY has the following major resistance and support levels:

  • RESISTANCE: 124
  • SUPPORT: 117.50

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (50 pips stop loss applied):

  • Sell: at 119 – Take profit 118.25 (75 pips profits)
  • Buy: at 116.90 – Take Profit 117.90 (100 pips profits)
  • Buy: at 117.60 – Take Profit 119 (140 pips profits)
  • Buy: at 118.20 – Take Profit 120 (180 pips profits)

This review is valid during trading week: 20th-24th April, 2015

USD/JPY Forecast

USD/JPY Forecast: March Nonfarm Payroll in Vision

usdjyp 31st, march 2015

USD/JPY fell after testing resistance at 122 level under heavy selling pressure, to find a decent support around 118.31. This move was not fast but, moving back from 118.31 to 120 again was piece of cake for the bulls. I’ve inner voice telling me that this easy uptrend is not the end of this newly-born bullish wave. However, we have 2 important resistance levels to watch at 120.45 and 122.02. If we broke those levels, you should buy and hold for a while till the pair gives a test to 123-124 levels. My previous expectations are the same however, take care from the quick falls, they are extremely dangerous in this area.

Non-farm payroll expectations are high. On 3rd April, 2015, everyone is betting that it will be one of the highest numbers in the NFP history. Personally, I am not that optimistic so, I am expecting NFP to come out around: 290K-300K which is not far away from the last month numbers and it is very supportive for a stronger dollar too.

The USD/JPY has the following major resistance and support levels:

  • RESISTANCE: 124
  • SUPPORT: 118.20

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (50 pips stop loss applied):

  • Sell: at 122.8 – Take profit 122 (80 pips profits)
  • Buy: at 119.80 – Take Profit 121 (120 pips profits)
  • Buy: at 120.1 – Take Profit 121 (90 pips profits)

This review is valid during trading week(s): 1st-10th April, 2015

USDJYP FORECAST, 11th March, 2015

USD/JPY forecast before Federal Budget Balance & Core Retail Sales

USDJYP FORECAST, 11th March, 2015

USD/JPY finally broke important resistance at: 120.45 level and tested 122 level yesterday in the morning (during the asian session) . My expectation was perfectly correct, as you can see USD/JPY is ongoing hot battle field between the bulls and the bears. The bulls still have the enough control to test 122 level again and I am expecting another break trying to touch one of these levels (123-124). The USD/JPY has the following major resistance and support levels:

  • RESISTANCE: 123
  • SUPPORT: 118.20

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (50 pips stop loss applied):

  • Sell: at 122.5 – Take profit 122 (50 pips profits)
  • Buy: at 121.5 – Take Profit 122 (50 pips profits)
  • Buy: at 120.5 – Take Profit 121 (50 pips profits)

QUICK HINT: USD/JPY is still too dangerous!. Take care

This review is valid during trading week: 11th-13th March, 2015

USD/JPY starting March below major resistance

USDJYP 1st March

USD/JPY stayed in this range 120.60 to 116.85 during February 2015. This is a consolidation area and the economic events during february did not push this pair to test strong resistance or a strong support. In march, things might change. The USD/JPY has the following major resistance and support levels:

  • RESISTANCE: 120.45
  • SUPPORT: 116.85

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop loss applied):

  • Sell: at 116.70 – Take profit 116 (70 pips profits)
  • Buy: at 120.50 – Take Profit 121 (50 pips profits)
  • Buy: at 119 – Take Profit 120 (100 pips profits)

QUICK HINT: USD/JPY is becoming too dangerous pair. At this area, you must watch the market closely, breaking in any side (up or down) will send the market directly to the new area and it will stay for a while there. Take care

This review is valid during trading week: 2nd-6th March, 2015

USD/JPY – The long battle!

USD JYP 12th DECEMBER 2014

USD/JPY is very bullish the last 7 weeks and this week, it pulled back a little bit from 121.84 to 117.4 affected by the selling pressure in the stock market, however this move reversed the last few hours to 119.45. This is a sign that we are gonna walk slowly over the next few days as a rest for this pair before continuing the uptrend or reverse it. We will play the smart game and hunt some quick pips. No long term positions are required at this stage too. The USD/JPY has the following major resistance and support levels:

  • RESISTANCE: 121.88
  • SUPPORT: 109

Breaking these levels in any direction will take us higher or lower.
My Daily BUY/SELL advice (30 pips stop loss applied):

  • Sell at: 120.05 – Take Profit 119 (100 pips profits)
  • Buy at: 121.90 – Take Profit 122.40 (50 pips profits)
  • Buy at: 117.50 – Take Profit 118 (50 pips profits)

QUICK HINT: USD/JPY is trying to have some rest in this zone. We can go either ways (up to 125 or down to 115). From this area, I can taste the bearish flavor. Take care!

This signal is valid on: 12th, December 2014