Update on intra-day USD/JPY

[alroughani]

At the closing of the Friday market the USD/JPY was around 114.39.

Yen fell down from 116.20 during the US market in response to the payroll data.

I expect the USD/JPY to remain in tight 100 pip session today ranging from a minor support at 114.20 to a moderate support at 113.60- 113.65
.
This support is the
61.8% retracement of 108.75 to 121.38 at 113.57 and 38.2% retracement of 101.65 to 121.38 at 113.84

The resistence will be moderate at 114.80 and then a stronger one at
115.34

Please see the attached graph.

Good luck.

 

[alroughani]

Update on the intraday USD/JPY for Jan 11, 2006

[Short term (Intraday)
114,84. USD JPY broke 114,70 resistance. USD JPY is in an downtrend directed by 1H exponential moving averages. The volatility is low. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The price should continue to consolidate. The price should find a resistance below 115,00. The risk/reward ratio is too low to take a position..

Resistances
114,70 - 114,80
Supports
114,35 - 114,10 - 114,00

please review the attached graph

Good luck

 

[alroughani]

JPY-114.22 13th Jan,2006 Pre-Japanese Update
.
As expected, Yen found support at 113.50 levels, but could not rally above 114.40. So we exited our 113.60 buy position at 114.15 for a profit of 55 pips. For now we would still expect the currency to raise towards 115.00. S0 prefer buying on dips near 113.90 for the currency to rally towards the above said target to be reached.

Buy @ 113.90 for 114.80, with stop below 113.60.

Taking positions is a personal strategy. So think carefully with your own technical analysis and place trades without bias.

Good luck

 

[alroughani]

Update on January 18 USD/JPY


Dollar/yen Tests Key Resistance
The greenback gained ground versus the yen on the first trading day following the US holiday. USDJPY pulled away from the 116-level, which marks a three-month descending trendline. The Bank of Japan upgraded its assessment of several regions of the country's economy. Nevertheless, the BoJ is not expected to divert from its current easing stance when it announces its monetary policy decision later in the week.

Dollar/yen has since pulled away from 116 to settle around 115.50. A break past 116, will likely see the pair quickly accelerate to 116.45, followed by 117 and 117.40. Interim support starts at 115.20, backed by 115 and 114.60. Subsequent floors will emerge at 114 and 113.40.

 

[alroughani]

Yesterday's selloff indicates the upmove fm 113.41
has formed a temporary. top at earlier this week at 115.94
and consolidation with downside bias is seen, below
114.80 would bring retracement towards 114.35/40 but
114.00/10 is expected to hold fm here.

Trade from short side with stop as indicated, above
may risk one more rise to 116.10/15 before down...

Resistance/Support
R: 115.44/115.94/116.47
S: 114.80/114.57/113.79