Last week I outlined two scenarios, one bearish and one bullish. The line in the sand was set at the 95.00 level. USD climbed abv this level and that triggered the bullish scenario. So, I am again bullish here and expect a rise twd 98.90 level and possibly slightly higher.
By Alexander Nikolov | Apr 08, 2013 | TrendRecognition
US Dollar - Japanese Yen (USD/JPY) did something which we could not witness for quite some time. The pair showed a volatility of 225 pips during last week.
Nov 19, 2012 | ForexAbode
The bullish strategy that we adopted a couple of weaks ago is doing well as USD has now come close to the key 80.
By Alexander Nikolov | Nov 05, 2012 | TrendRecognition
Now, the wave structure of the decline from the Mar 2012 top starts to look clearer with last week's price action. The breakdown (below 77.90) did not produce anything significant on the downside as the prices quickly returned into the previous range zone.
By Alexander Nikolov | Sep 16, 2012 | TrendRecognition
Despite diving to as low as 77.13, USD/JPY staged as strong rebound from there and closed back inside prior range. The development mixed up the near term outlook and we'll stay neutral initially this week. Near term focus is on 79.03 resistance. As long as 79.03 holds, fall fro 84.17 is still in favor to extend to 75.56/76.02 support zone. However, break of 79.
Sep 16, 2012 | ActionForex
USD/JPY dropped to as low as 78.18 last week and fall from 79.65 extended. Initial bias remains on the downside this week for 77.90 support. Break will suggest that whole decline from 84.17 is resuming. In such case, further fall should be seen through 77.66 towards 75.56/76.02 support zone. On the upside, above 78.84 will bring another recovery to extend the consolidation pattern fro 77.66.
Sep 03, 2012 | ActionForex
No change here since our previus update. The daily chart is in sideways mode and the immediate pressure is slightly on the downside. The price pattern suggests a basing formation might be forming here below the key 80.61 level. But to confirm this view, we simply need a move abv 80.61 level. If that occurs, a rally twd the key resistance on the weekly chart at 83.80/84.10 will become likely.
By Alexander Nikolov | Sep 03, 2012 | TrendRecognition
No change here. USD made a top at 79.65 early last week and declined twd the lower end of its recent range (77.90-80. As said many times before, only a mvoe abv 80.61 will indicate an upside break out of this basing pattern and it will suggest a rally twd the key resistance near 84.10. On the downside, a move below 77.90 will likely trigger losses twd 76.00.
By Alexander Nikolov | Aug 27, 2012 | TrendRecognition
While the pair may be biased to the downside on correction, as long as it holds above the 78.78 level, upside risk cannot be ruled out. However, if that level is taken out, further weakness should develop towards the 77.66 level followed by the 77.00 level.
By Mohammed Isah | Aug 20, 2012 | FX Tech Strategy
USD managed to move abv 78. The daily chart however is still neutral and it will remain neutral as long as the prices stay below 80.61 key resistance level. A move abv this level will not be a confirmation of the larger-degree bullish idea but at least will shift the immediate focus on the upside on the daily chart as well. What we need, is a move abv 84.20 - such a move will confirm t.
By Alexander Nikolov | Aug 20, 2012 | TrendRecognition
USD/JPY's strong rebound last week indicates that fall from 80.61 has completed at 77.90. Initial bias remains on the upside this week and further rally should be seen to 79.96/80.61 resistance zone. Nonetheless, note that current development doesn't warrant the case that fall from 84.17 has reversed. And hence, we'll be cautious on topping signal at around 80.61.
Aug 18, 2012 | ActionForex
No change from our previous comments here. USD/JPY market has become very boring with small daily and weekly ranges. The daily chart is neutral to slighly negative as long as the prices stay below the 80.61 level. But I do not expect a huge downside from here as I believe a Long-Term low has likely been found already.
By Alexander Nikolov | Aug 13, 2012 | TrendRecognition