USD/JPY Poised for Further Gains, NFP Next

Key Highlights The US Dollar made a nice upside move and traded above the 106.50 resistance against the Japanese Yen. There was a break above a crucial bearish trend line with resistance at 106.70 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending March 31, 2018 increased from 218K (revised) to 242K. Today, the US Nonfarm Payrolls r...
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Can GBP/JPY Hold This Crucial Support?

Key Highlights The British Pound corrected lower from 150.58 but it found support near 148.80 against the Japanese Yen. There is a significant ascending channel forming with support near 148.80 on the 4-hours chart of GBP/JPY. The pair remains in an uptrend as long as it is above the 148.80 support. Today, the UK Manufacturing PMI for March 2018 will be released, ...
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USD/JPY Upsides Remain Capped Near 106.50

Key Highlights The US Dollar remains in a major bearish trend below 107.50 against the Japanese Yen. There is a key bearish trend line forming with current resistance at 106.50 on the daily chart of USD/JPY. The pair has to move above 106.50 and then 107.50 to move back in a bullish zone. Tokyo’s Consumer Price Index in March 2018 (YoY) increased 1.0%, compared ...
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Can EUR/JPY Recover Above 132.50?

Key Highlights The Euro made a major top near the 137.50 level against the Japanese Yen. There was a break below an important bullish trend line with support at 134.20 on the daily chart of EUR/JPY. The German GfK Consumer Confidence for April 2018 posted a minor rise from 10.8 to 10.9. Today, the German CPI report for March 2018 (Prelim) will be released, which i...
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USD/JPY Broke Crucial Support On Weekly Chart

Key Highlights The US Dollar started a downside move from well above 114.00 and declined below 107.00 against the Japanese Yen. There was a break below a crucial bullish trend line with support at 108.50 on the weekly chart of USD/JPY. The US Initial Jobless Claims for the week ending March 17, 2018 rose from 226K to 229K. Today, the US Durable Goods Orders report...
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Can GBP/JPY Continue Trading Higher?

Key Highlights The British Pound made a nice upside move and traded above 149.00 against the Japanese Yen. There is a major ascending channel forming with support at 148.20 on the 4-hours chart of GBP/JPY. The UK Claimant Count Change came in at 9.2K in Feb 2018, compared with the forecast of -5.0K. Today, the BOE interest rate decision is scheduled and the market...
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USD/JPY Remains in Bearish Trend Below 107.00

Key Highlights The US Dollar failed to move higher above 107.00 and declined against the Japanese Yen. There is a crucial bearish trend line forming with current resistance at 106.80 on the 4-hours chart of USD/JPY. The US initial jobless claims for the week ending March 10, 2018 declined from the last revised reading of 230K to 226K. Today, the US Industrial Prod...
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EUR/JPY: Is This Upside Break in Euro to Yen?

Key Highlights The Euro started a nice upside move from the 130.50 swing low against the Japanese Yen. There was a break above a crucial contracting triangle with resistance at 131.60 on the 4-hours chart of EUR/JPY. The pair could gain traction if it continues to find support near 131.50. Today, the German CPI figures for Feb 2018 will be released, which is expec...
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USD/JPY Facing Uphill Task Ahead of US NFP

Key Highlights The US Dollar found support near 105.30 and recovered against the Japanese Yen. There is a monster bearish trend line forming with resistance at 107.10 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending March 3, 2018 posted a rise from 210K to 231K. Today, the US nonfarm payrolls figure for Feb 2018 will be released, ...
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USD/JPY Likely to Extend Declines Below 106.00

Key Highlights The US Dollar recovered slightly this week against the Japanese Yen, but upsides were capped by 107.60. There is a major resistance zone forming near 107.60 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims figure for the week ending Feb 24, 2018 posted a decline from the last revised reading of 220K to 210K. Tokyo’s Consumer Price In...
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