USD JPY daily trade

Just below at the 118.50 level I see quite a bit of support, so I think that that is going to be a bit of a “floor” in this marketplace. With that, I am simply waiting for a supportive candle in order to start buying yet again. I have no interest in selling, the US dollar has been so strong recently and it’s a bit difficult to imagine selling it even though the Japanese yen is a safety currency.

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade on a long or short side from a risk/reward perspective. I'm going to stand aside until a more attractive opportunity presents itself.

Support at 118.60 has already held back the bears twice. If the third test fails too, the price will rebound up towards resistance at 119.40.

A break below 118.6 would trigger a drop towards 118.3. Go short  below 119.45 with the main target at 118.3.

I certainly won’t sell, but I don’t have a reason to start going long from a longer-term trader’s perspective either.

A recovery to 119.71 is looked for, potentially 119.98, where I would expect fresh sellers. Above can see strength extend back to the top of the nearterm range at 120.28/52.

Fall below 120.32 puts it back on a downward path.

The pair stands above its support. Go long positions a with a target 124.8 and stoploss 123.4

I'm going to buy and believe that ultimately this market will then head to the 125 level.

I still believe the downside potential is at least 122,50 and stay short.

I believe that this market is trying to build up enough momentum to finally break free of the 125 barrier, and continue the longer-term uptrend higher.

While below 123,80 on an hourly closing I still expect lower levels for this dollar suggesting a 122 undershooting.

Long positions above 120 with targets @ 126 & 127.7 in extension.

I'm going to open a long position above 121.5 with TP @121.95 and SL @121.

The USD/JPY pair initially tried to rally during the course of the session on Friday, but found the 125 level to be a bit too resistive. With that being the case, we did up falling drastically from there, as we are trying to find some type of support below in order to go long. With this, a supportive candle below will continue to be a buying opportunity as we should eventually go above the 125 handle and continue the way much higher.

The USD/JPY pair fell initially during the day on Friday, as the jobs number missed the anticipated 217,000 jobs added during the month of August. However, there were underlying factors that suggested perhaps the employment situation was and as Dyer as initially thought, and with that of course we saw quite a bit of volatility in this pair. After all, the market looks as if there are buyers below. After all, we did up forming a hammer by the end of the day and that of course suggests that there is plenty of support. The 118.50 level caused a bit of support previously, and it looks like it is repeating that again after the Friday session.

The USD/JPY pair initially fell during the course of the session on Monday, but turned back around to form a hammer. With that being the case, the market looks as if it is ready to bounce again, and as a result we believe that the market will try to reach towards the 122 handle again. Having said that though, the market is going to have to deal with a lot of volatility on the way higher, but we don’t see how this market doesn’t go higher based upon the fact that the 118.50 level has been so resilient for support.

USD/JPY is staying in range of 118.58/121.62 and intraday bias remains neutral for the moment. On the upside, break of 121.62 will extend the rebound from 116.13 and target 125.27/85 resistance zone.

USDJPY has extended its decline, bringing the immediate attention back towards key trendline support at 119.35/22, where we would look for a fresh hold. A direct capitulation here though can see the range resolved lower for the early September low at 118.65, ahead of 118.29/26.

Break of 118.58 will turn focus back to 116.13 support instead. In the bigger picture, a medium term top should be in place at 125.85 on bearish divergence condition in daily MACD. Initial support was seen at 38.2% retracement of 101.08 to 125.85 at 116.38.

The USD/JPY pair fell significantly during the course of the week, dropping down rather significantly. However, the market turned back around to form a hammer, and as a result it looks like the markets going to go higher given enough time. The 120 level continues to be a bit of a magnet for price in general, and a break above the top of the hammer should send this market looking for the 121 level, and then eventually the 125 level.

The sideway consolidation continues in USD/JPY as it stays bounded in range of 118.58/121.62. On the upside, break of 121.62 will extend the rebound from 116.13 and target 125.27/85 resistance zone.

USDJPY is testing 121.62 resistance, a break of this level will signal resumption of the uptrend from 116.13, then the following upward movement could bring price to 125.00 area. Support levels are at 118.16 and 116.13, only break below these levels could bring price to 110.00 area.

The USD/JPY pair broke higher during the course of the session on Tuesday, as we start reaching towards the 121.50 level. If we can get above there, the market should continue to go much higher than, perhaps as high as the 125 level. If we pullback from here though, we think there is more than enough support below to keep this market going higher.

The USD/JPY pair initially fell during the course of the day on Wednesday, but turned back around to form a positive candle. We actually pierced the 121 .50 level, and as a result we are buyers if we can break above the top of the range for the session. Pullback should have more than enough support just below, and as a result we believe that the market cannot be sold and will go higher regardless of what happens as there’s so much in the way of bullish pressure underneath. Ultimately, we believe that this market reaches to the 125 handle.

Decisive break 125.27/85 will confirm up trend resumption and will target 130 handle. Nonetheless, break of 122.21 will indicate short term topping and bring deeper fall back to 55 days EMA (now at 121.75) and below.

The USD/JPY pair broke down significantly during the course of the day on Wednesday, finally cracking the bottom of the recent consolidation area that has been intact for a couple of months now. However, we think there is more than enough support below to eventually bring in enough buying interest to turn the market back around. With this being the case, we are simply waiting to see if we get a supportive candle which appears on the daily chart in order to start going long. However, we suspect it might take a couple of sessions to get there.

Our preference: short positions below 121.35 with targets @ 120.55 & 120.15 in extension.Alternative scenario: above 121.35 look for further upside with 121.85 & 122.25 as targets.Comment: the RSI is mixed to bearish.

Reversal has failed. With the second attempt the price easily broke through the level (1/ , thereby abolishing the scenario of its growth to the main support and resistance level (4/ . Now the main option is lowering to the main support level (0/ , and a subsequent rebound from this level.

USD/JPY's rebound from 115.96 is still in progress. Further rise is in favor to 120.33 support turned resistance first. Break will target 123.74 next. Overall, price actions from 125.85 are viewed as a sideway consolidation pattern and we'll hold on to this view as long as 115.96 support holds.

USD/JPY is currently trading with a bullish bias. During the previous trading day, usd/jpy crossed above a key resistant level 118.81, unless the price closes below 118.54, we will likely be headed long with our ultimate target at 121.40. Otherwise, we will be short below 118.54 with targets at 116.00.

Intraday bias in USD/JPY remains on the downside for the moment and deeper fall could be seen back to key support level at 115.96. At this point, price actions from 125.85 are viewed as a sideway consolidation pattern.

The USD/JPY pair broke down during the session on Thursday, as we are starting to slice through the last vestiges of support. Quite frankly, there is a hammer from a couple of weeks back that if we break down below there, this market should rush to the 115 level. However, it should be noted that we are so oversold at this point that the stronger move will be to the upside if we get a strong jobs number coming out of the United States. We prefer that, but at this point in time we have to simply wait.

USDJPY is in consolidation of the downtrend from 123.75. Range trading between 110.97 and 116.00 is possible in a couple of weeks. Resistance is at 116.00, as long as this level holds, the downtrend could be expected to continue, and next target would be at 105.00 area. Only break above 116.00 resistance could signal completion of the downtrend.

USD/JPY stayed in the consolidation pattern above 110.98 last week and outlook is unchanged. Initial bias stays neutral this week first. In case of another rise, we'd expect upside to be limited by 115.96 support turned resistance and bring fall resumption.

USD/JPY's break of 110.98 support suggests that larger decline from 125.85 is resuming. Initial bias remains on the downside this week for long term fibonacci level at 106.63.

Current Position; Tiny shorts from 113.70 partially covered 112.15. Trading View: Lower stops 112.85. Exit the remainder 111.00. Short Term Trend (1-3 weeks): Approaching the top of the short term channel, where should struggle