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Usd/Jpy at 91.00 Support

Discussion in 'Technical Analysis' started by ActionForex.com, Sep 18, 2009.

  1. ActionForex.com

    ActionForex.com Content Contributor

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    Usd/Jpy is trading higher at the moment away from singificant Fibonacci support zone, threatening the upper resistance line and 91.62 wave IV) high at the same time. Any break of this resistance zone will confirm the higher wave A) leg that may find the top somewhere around the 38.2% Fibonacci...

    complete article here...
     
  2. MDunleavy

    MDunleavy New Member

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    As discussed before, rebound from 90.12 should have completed at 92.52 and fall from 97.77 is likely resuming.Intraday bias remains on the downside for the moment for 90.12 low first. Break will target lower channel support at 89.56 next. On the upside, in case of another rise, we'd continue to expect recovery to be limited by 93.29 resistance and bring fall resumption . However, decisive break of 93.29 will indicate that whole fall from 97.77 has completed and will turn focus back to upper channel resistance (now at 96.46).[actionforex]

    "P&F USDJPY30 Box Size 230X3 or(0.74%) HI/LO
    Data 97.036 - 90.121 ~ 1.5 Month ~ 43.5 Day
    Database 1501 records 91.267 (Last Close)
    2009-08-11 01~00
    2009-09-23 13~00
    (GMT+01:00) Paris
    BJF Trading Group"

    97.06|~23|||______________________________________________|-0.02%|7.7%
    96.83|~46|||__o___________________________________________|0.21%|7.44%
    96.60|~69|||__o_x_________________________________________|0.45%|7.19%
    96.37|~92|||__o_x_o_______________________________________|0.69%|6.93%
    96.14|~115||__o_x_o_______________________________________|0.92%|6.68%
    95.91|~138||__o_x_o_______________________________________|1.16%|6.42%
    95.68|~161||__o_x_o_______________________________________|1.4%|6.17%
    95.45|~184||__o_x_o_______________________________________|1.63%|5.91%
    95.22|~2O7||__o___o_x_____________________________________|1.87%|5.66%
    94.99|~23O||______o_x_o_____x_____________________________|2.11%|5.4%
    94.76|~253||______o_x_o_____x_o___________________________|2.35%|5.15%
    94.53|~276||______o_x_o_x___x_o_x_________________________|2.58%|4.89%
    94.30|~299||______o___o_x_o_x_o_x_o_______________________|2.82%|4.64%
    94.07|~322||__________o_x_o_x_o_x_o_______________________|3.06%|4.38%
    93.84|~345||__________o___o_x_o___o_______________________|3.29%|4.13%
    93.61|~368||______________o_______o_______________________|3.53%|3.87%
    93.38|~391||______________________o_x_____________________|3.77%|3.62%
    93.15|~414||______________________o_x_o_x_________________|4%|3.36%
    92.92|~437||______________________o_x_o_x_o_______________|4.24%|3.11%
    92.69|~46O||______________________o___o_x_o_______________|4.48%|2.85%
    92.46|~483||__________________________o_x_o_________x_____|4.72%|2.6%
    92.23|~5O6||__________________________o_x_o_________x_o___|4.95%|2.34%
    92.00|~529||__________________________o___o_________x_o___|5.19%|2.08%
    91.77|~552||______________________________o_________x_o___|5.43%|1.83%
    91.54|~575||______________________________o_x_______x_o___|5.66%|1.57%
    91.31|~598||______________________________o_x_o_x___x_o_x_|5.9%|1.32%
    91.08|~621||______________________________o_x_o_x_o_x_o_x_|6.14%|1.06%

    90.85|~644||______________________________o_x_o_x_o_x_o_x_|6.37%|0.81%
    90.62|~667||______________________________o_x_o_x_o___o___|6.61%|0.55%
    90.39|~69O||______________________________o___o_x_________|6.85%|0.3%
    90.16|~713||__________________________________o___________|7.09%|0.04%
    89.93|~736||______________________________________________|7.32%|-0.21%
    Column|||0|||_8_6_104_6_3_4_6_5_3_8_3_6_5_125_6_5_3_8_8_3_|
    Count

    [​IMG]
     
  3. MDunleavy

    MDunleavy New Member

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    USD/JPY Charges Higher Following Disappointing Trade Balance
    Daily Forex Technicals | Written by FastBrokers | Oct 22 09 15:01 GMT |
    USD/JPY Charges Higher Following Disappointing Trade Balance

    The USD/JPY is popping after Japan’s Trade Balance came in much lower than analyst expectations coupled with a downward revision of the previous release. Analysts are eager to point out that Japan’s exports declined at a slower rate. However, the Trade Balance still took a hit, telling us the improvement in imports far exceeded that in exports. The USD/JPY is climbing in reaction to the unexpected outflow of Yen in conjunction with a rally fueled by oversold conditions. The USD/JPY has managed to separate itself from 90 while climbing past our 1st and 2nd tier downtrend lines. However, topside volume is fading and the currency pair still faces our 3rd and 4th tier downtrend lines along with 9/21 highs. Meanwhile, there are many downtrend lines we can construct beyond these barriers due to the currency pair’s extensive deterioration over the medium-term. Therefore, we are cautiously optimistic and will need further topside confirmation before considering revising our outlook on the USD/JPY over the longer-term. As for the downside, the USD/JPY continues to create breathing room. We find cushions in the form of our 3rd tier uptrend line along with 10/21 lows and the highly psychological 90 level.

    Meanwhile, all eyes will be on tomorrow’s wave of EU and British econ data long with continued Q3 results. The USD/JPY’s correlation with U.S. equities it’s a bit out of whack these days. However, any broad-based favoritism of the risk trade would likely benefit the USD/JPY’s uptrend. Considering the GBP/USD and EUR/USD have limited topside technical barriers, the USD/JPY’s present run could have more room to go over the near-term.[actionforex]

    "P&F USDJPY5 Box Size 10X3 or(0.33%) HI/LO
    Data 91.7 - 88.829 ~ 0 Month ~ 9.06 Day
    Database 2021 records 91.303 (Last Close)
    2009-10-13 20~25
    2009-10-22 21~45
    (GMT+01:00) Paris
    BJF Trading Group"

    91.70|~1O|||________________________________________________________x___|0%|3.23%
    91.60|~2O|||________________________________________________________x_o_|0.11%|3.12%
    91.50|~3O|||____________________________________________________x___x_o_|0.22%|3.01%
    91.40|~4O|||____________________________________________________x_o_x_o_|0.33%|2.89%
    91.30|~5O|||========================x===========================x=o=x=o=|0.44%|2.78%
    91.20|~6O|||________________________x_o_________________x___x___x_o_____|0.55%|2.67%
    91.10|~7O|||________________________x_o_x_______________x_o_x_o_x_______|0.65%|2.56%
    91.00|~8O|||________________________x_o_x_o_________x___x_o_x_o_x_______|0.76%|2.44%
    90.90|~9O|||____________________x___x_o_x_o_x_______x_o_x_o___o_x_______|0.87%|2.33%
    90.80|~1OO||____________________x_o_x_o_x_o_x_o_____x_o_x_____o_________|0.98%|2.22%
    90.70|~11O||________________x___x_o_x_o_x_o_x_o_____x_o_x_______________|1.09%|2.11%
    90.60|~12O||________________x_o_x_o___o___o_x_o_____x_o_x_______________|1.2%|1.99%
    90.50|~13O||________________x_o_x_________o_x_o_x___x_o_________________|1.31%|1.88%
    90.40|~14O||________________x_o_x_________o___o_x_o_x___________________|1.42%|1.77%
    90.30|~15O||________________x_o_x_____________o_x_o_x___________________|1.53%|1.66%
    90.20|~16O||________________x_o_______________o_x_o_____________________|1.64%|1.54%
    90.10|~17O||________________x_________________o_________________________|1.74%|1.43%
    90.00|~18O||________________x___________________________________________|1.85%|1.32%
    89.90|~19O||________________x___________________________________________|1.96%|1.21%
    89.80|~2OO||x___x___________x___________________________________________|2.07%|1.09%
    89.70|~21O||x_o_x_o_________x___________________________________________|2.18%|0.98%
    89.60|~22O||__o_x_o_____x___x___________________________________________|2.29%|0.87%
    89.50|~23O||__o_x_o_x___x_o_x___________________________________________|2.4%|0.76%
    89.40|~24O||__o_x_o_x_o_x_o_x___________________________________________|2.51%|0.64%
    89.30|~25O||__o_x_o_x_o_x_o_____________________________________________|2.62%|0.53%
    89.20|~26O||__o_x_o___o_x_______________________________________________|2.73%|0.42%
    89.10|~27O||__o_x_____o_________________________________________________|2.84%|0.31%
    89.00|~28O||__o_x_______________________________________________________|2.94%|0.19%
    88.90|~29O||__o_________________________________________________________|3.05%|0.08%
    88.80|~3OO||____________________________________________________________|3.16%|-0.03%
    Column||||||2_9_9_6_3_4_5_3_145_7_3_7_7_5_7_5_8_4_3_8_5_7_3_3_4_7_3_5_4_|
    Count


    Excel_USDJPY_Outlook.zip

    [​IMG]
     
  4. MDunleavy

    MDunleavy New Member

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    As the greenback has continued to move higher, suggesting gain towards 91.63 is likely, however, as outlook is still consolidative, upside should be limited to 92.00 and further choppy trading below 92.33 resistance would take place, bring another retreat later, however, support at 89.18 should remain intact and dollar should stage a strong rebound from there later this week.
    In view of the above analysis, we are trading both sides of the market, selling on further rise for 90.00 or buy on subsequent retreat. Only below support at 89.18 would risk weakness to 88.83 but recent low at 88.01 should hold.[actionforex]

    [​IMG]

    Excel_USDJPY_60min_091105.xls
     
  5. MDunleavy

    MDunleavy New Member

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    USD/JPY closed higher due to loss taking on Monday as it consolidated some of last week's decline. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends last week's decline, the reaction low crossing is the next downside target. Closes above last Wednesday's high crossing would temper the near-term friendly outlook.[Written by HY Markets]

    "P&F USDJPY1440 Box Size 130X4 or(4.93%) HI/LO
    Data 125.94 - 84.819 ~ 92 Month ~ 2800 Day
    Database 2000 records 90.285 (Last Close)
    2002-05-28 00~00
    2010-01-26 00~00
    (GMT+01:00) Paris
    BJF Trading Group chart"

    126.10|~13O||________________________________|-0.13%|48.67%
    124.80|~26O||oXoX____________________________|0.91%|47.14%
    123.50|~39O||oXoXo________X__________________|1.94%|45.6%
    122.20|~52O||oXoXo________Xo_________________|2.97%|44.07%
    120.90|~65O||oXoXo____X_X_Xo_________________|4%|42.54%
    119.60|~78O||oXo_o____XoXoXo_________________|5.03%|41.01%
    118.30|~91O||oX__o____XoXoXo_________________|6.07%|39.47%
    117.00|~1O4O|oX__o____XoXoXoX________________|7.1%|37.94%
    115.70|~117O|o___o____XoXo_oXo_______________|8.13%|36.41%
    114.40|~13OO|____o__X_XoX__oXoX______________|9.16%|34.88%
    113.10|~143O|____o__XoXoX__oXoXo_____________|10.2%|33.34%
    111.80|~156O|____oX_XoXoX__o_oXo_____________|11.23%|31.81%
    110.50|~169O|____oXoXoXoX____oXoX____________|12.26%|30.28%
    109.20|~182O|____oXoXoXo_____oXoXo___________|13.29%|28.74%
    107.90|~195O|____oXoXoX______o_oXo___________|14.32%|27.21%
    106.60|~2O8O|____oXoXoX________oXo___________|15.36%|25.68%
    105.30|~221O|____o_oXoX________oXo___________|16.39%|24.15%
    104.00|~234O|______o_oX________oXo___________|17.42%|22.61%
    102.70|~247O|________o_________oXo___________|18.45%|21.08%
    101.40|~26OO|__________________oXo______X____|19.49%|19.55%
    100.10|~273O|__________________oXoX_____Xo___|20.52%|18.02%
    98.80|~286O||__________________oXoXo__X_Xo___|21.55%|16.48%
    97.50|~299O||__________________oXoXo__XoXoX__|22.58%|14.95%
    96.20|~312O||__________________o_oXo__XoXoXo_|23.61%|13.42%
    94.90|~325O||____________________oXo__XoXoXo_|24.65%|11.89%
    93.60|~338O||====================oXoX=Xo=oXoX|25.68%|10.35%
    92.30|~351O||____________________oXoXoX__o_oX|26.71%|8.82%
    91.00|~364O||____________________o_oXoX____oX|27.74%|7.29%
    89.70|~377O||______________________oXoX____oX|28.78%|5.75%
    88.40|~39OO||______________________o_o_____oX|29.81%|4.22%
    87.10|~4O3O||______________________________oX|30.84%|2.69%
    85.80|~416O||==============================o=|31.87%|1.16%
    84.50|~429O||________________________________|32.9%|-0.38%
    Column|~442O|87541568919946947511179448467496|
    Count||||||||____5____4________415___________|

    [​IMG]


    BJF-Trading-Group_Excel_Chart
     
  6. MDunleavy

    MDunleavy New Member

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    USDJPY is currently trading 94.70 levels. A break above 94.30(2 days close), we could target 97-98 levels. Weekly close above 92 levels has increased chances for a bearish move for the yen currency. Importers hold for medium term covers. (USDJPY- 94.70). Long Term (3-6 months) target 98 and higher.We just need a conistent break of 94.30 to make thes happen.

    "P&F USDJPY1440 Box Size 140X4 or(5.32%) HI/LO
    Data 125.75 - 84.819 ~ 92 Month ~ 2800 Day
    Database 2000 records 94.26 (Last Close)
    2002-09-04 00~00
    2010-05-05 00~00 (GMT+01:00) Paris
    BJF Trading Group chart"


    [​IMG]

    BJF-Trading-Group_Excel_Chart
     
  7. MDunleavy

    MDunleavy New Member

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