USDJPY: Bearish, Extends Weakness
February 3, 2014 10:46 amVideo
Latest News
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
- Hot forecast for EUR/USD on April 19, 2024 April 19, 2024
- We’ve Donated Books in Vietnam for Children’s Day April 19, 2024
- Week Ahead – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Technical Analysis – GBPJPY range trading continues April 19, 2024
- Overview of the GBP/USD pair on April 19th. The Bank of England may lower the rate in May April 19, 2024
- Overview of the EUR/USD pair on April 19th. Jerome Powell crushed all euro growth prospects April 19, 2024
- Key events on April 19: fundamental analysis for beginners April 19, 2024
USDJPY: The pair remains vulnerable to the downside following its last week losses. A follow through lower is snow underway suggesting further decline with eyes on the 101.50 level a possibility. A cut through here will call for a run at the 101.00 level where a breach will turn attention to the 100.00 level, its big psycho level. We expect a bounce higher off this level if tested. Its daily RSI is bearish and pointing lower supporting this view. On the other hand, resistance resides at the 102.85 level where a violation will turn focus to the 104.50 level and then the 104.00 level. If a violation of here occurs, expect more recovery to follow towards the 104.91 level where a breach will aim at the 105.43 level. On the whole, USDJPY remains exposed to the downside in the short term.
GET THE FULL ANALYSIS
UNPARALLELED FOREX ANALYSIS covering EURUSD, GBPUSD, USDJPY, AUDUSD, EURJPY, EURGBP, USDCAD and more Daily.GET STARTED TODAY
Related Posts: