USD/JPY Nosedives, Breaks Key Support Ahead of US GDP

Key Highlights The US Dollar was under a lot of pressure recently and it declined below the 110.00 support against the Japanese Yen. There is a major bearish trend line forming with current resistance at 110.60 on the 4-hours chart of USD/JPY. On the downside, the next supports are at 108.50 and 108.00. The US Initial Jobless Claims for the week ending Jan 20th 20...
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USD/JPY Showing Positive Recovery Signs

Key Highlights The US Dollar found support after trading as low as 110.19 against the Japanese Yen. There was a break above a short-term bearish trend line with resistance at 111.15 on the 4-hours chart of USD/JPY. The pair faces many resistances on the upside at 111.80 and 112.00. The US Building Permits in Dec 2017 declined by 0.1%, less than the forecast of -1....
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USD/JPY Poised to Extend Declines Below 111.00

Key Highlights The US Dollar failed to stay above the 112.00 support area and declined against the Japanese Yen. USD/JPY is now well below the 112.00 support, which is a strong bearish sign. A major support sits at 111.00 where buyers may attempt to prevent further losses. Other major pairs such as EUR/USD and GBP/USD recently gained bullish traction. USDJPY Te...
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EUR/JPY Carving Top or Correcting Lower?

Key Highlights The Euro after a solid upside move formed a high at 136.63 against the Japanese Yen. The EUR/JPY pair moved down sharply and broke a crucial bullish trend line with support at 135.25 on the 4-hours chart. The pair must stay above 134.40 to avoid any further declines in the near term. Today’s German Trade Balance report for Nov 2017 could have a po...
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USD/JPY Remains In Broad Range of 112.00-114.00

Key Highlights The US Dollar succeeded in holding the 112.00 support against the Japanese Yen, and moved higher. The USD/JPY pair is approaching a major bearish trend line with current resistance at 113.10 on the 4-hours chart. The 113.10, 113.50 and 113.80 levels are major upside barriers for buyers in the near term. The US ADP Employment Change in Dec 2017 regis...
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Can USD/JPY Make it This Time?

Key Highlights The US Dollar is once again approaching towards a major resistance near 113.75-114.00. On the downside, there is a key bullish trend line forming with support at 113.20 on the 4-hours chart of USD/JPY. A break and 4-hour close above 114.00 could open the doors for more upsides. The third estimate of the US GDP came in at +3.2%, less than the forecas...
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USD/JPY Signaling Bearish Continuation Below 112.30

Key Highlights The US Dollar faced bearish pressure after the fed rate decision and declined below 113.00 against the Japanese Yen. USD/JPY also broke a crucial support area near 112.30 and a bullish trend line on the 4-hours chart. Japan’s Tankan Large Manufacturing Index in Q4 2017 posted an increase from 22 to 25. Today’s Industrial production report in the...
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EUR/JPY: Here is Why 132.60 is Significant

Key Highlights The Euro failed to move above 133.80 recently and corrected lower against the Japanese Yen. EUR/JPY is approaching a major break as there is a contracting triangle forming with support at 132.60 on the 4-hours chart. The US Core CPI in Nov 2017 posted an increase of 1.7%, less than the forecast of 1.8% (YoY). The feds raised interest rates from 1.25...
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USD/JPY Remains Bullish Ahead of US NFP Report

Key Highlights The US Dollar made a good comeback from the 110.80 support against the Japanese Yen. The USD/JPY pair is now forming a decent uptrend and is following a bullish trend line with support at 112.40 on the 4-hours chart. The US initial jobless claims for the week ending Dec 2, 2017 declined from 238K to 236K. Today’s US Nonfarm payrolls release for No...
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USD/JPY – US Dollar Kick Starts Recovery Vs Japanese Yen

Key Highlights The US Dollar found support near 110.80-110.00 against the Japanese Yen, and started an upside move. There was a break above a crucial bearish trend line with resistance at 111.80 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Nov 25, 2017 declined to 238K. Japan’s National CPI in Oct 2017 increased to 0.2%, com...
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