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Action Insight: USDJPY Technical Outlook

Action Insight is the most popular section of the site, read by traders around the world. Our team of analysts work around the clock, analyzing the markets from technical and fundamental perspectives in providing the reports in this section to you.



USD/JPY Mid-Day Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | Feb 09 12 13:48 GMT
USD/JPY rises further to as high as 77.35 so far in early US session and remains firm. Intraday bias is on the upside for stronger rally. But still, note again that near term outlook remains bearish as long as 78.28 resistance holds and fall from 79.52 is in favor to continue. Below 76.80 will indicate completion of the rebound and turn bias back to the downside for 76.02 and then 75.56 key support. However, decisive break of 78.28 will turn near term outlook bullish for 79.52 resistance instead.
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USD/JPY Daily Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | Feb 09 12 07:28 GMT
USD/JPY's rebound from 76.02 resumed after brief retreat and edged higher to 77.23 so far. Further rise could be seen but still, near term outlook remains bearish as long as 78.28 resistance holds and fall from 79.52 is in favor to continue. Below 76.70 minor support will flip bias back to the downside for 76.02 and then 75.56 key support.
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USD/JPY Mid-Day Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | Feb 08 12 13:02 GMT
Despite recovering further 77.18 earlier today, USD/JPY faced strong resistance from 55 days EMA and retreats sharply. Outlook remains unchanged though. While another rise cannot be ruled out yet, near term outlook remains bearish as long as 78.28 resistance holds and fall from 79.52 is in favor to continue. Below 76.51 minor support will flip bias back to the downside for 76.02 and then 75.56 key support.
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USD/JPY Daily Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | Feb 08 12 07:44 GMT
USD/JPY recovers further to as high as 77.15 so far today and breaks 55 days EMA as expected. Intraday bias is mildly on the upside and further rebound could still be seen. But after all, near term outlook remains bearish as long as 78.28 resistance holds and fall from 79.52 is in favor to continue. Below 76.51 minor support will flip bias back to the downside for 76.02 and then 75.56 key support.
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USD/JPY Mid-Day Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | Feb 07 12 13:36 GMT
USD/JPY edges higher to 76.86 as recovery from 76.02 temporary low continues today. Further rebound could be seen to 55 days EMA (now at 77.09) and above. But after all, near term outlook remains bearish as long as 78.28 resistance holds. Whole decline from 79.52 is still in progress. Below 76.02 will resume such fall for a test on 75.56 low.
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USD/JPY Daily Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | Feb 07 12 07:34 GMT
USD/JPY's recovery from 76.02 temporary low might extend higher towards 55 days EMA (now at 77.09). Nonetheless, near term outlook remains bearish as long as 78.28 resistance holds. Whole decline from 79.52 is still in progress. Below 76.02 will resume such fall for a test on 75.56 low.
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USD/JPY Mid-Day Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | Feb 06 12 13:54 GMT
No change is USD/JPY's outlook. Consolidation from 76.02 is still in progress and stronger recovery might be seen to 55 days EMA (now at 77.12). But we'll continue to stay bearish as long as 78.28 resistance holds. Fall from 79.52 is expected to resume sooner or later and below 76.02 will target a test on 75.56 low.
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USD/JPY Daily Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | Feb 06 12 07:00 GMT
Intraday bias in USD/JPY remains neutral for the moment and some more consolidations could be seen above 76.02 temporary low. Recovery from there might extend to 55 days EMA (now at 77.12). Though, note that we'll stay bearish as long as 78.28 resistance holds and expect further decline ahead. Below 76.02 will extend the fall from 79.52 and target a test on 75.56 low.
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USD/JPY Weekly Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | Feb 04 12 06:57 GMT
USD/JPY dropped sharply to as low as 76.02 last week but made a temporary low there and recovered. Initial bias is neutral this week for some consolidations and the pair might recover back towards 55 days EMA (now at 77.14). Though, note that the strong break of 76.55 support confirmed resumption of whole fall from 79.52. Hence, we'll stay bearish as long as 78.28 resistance holds and expect further decline ahead. below 76.02 will target a test on 75.56 low.
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USD/JPY Mid-Day Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | Feb 03 12 14:22 GMT
The strong rebound and break of 76.42 minor resistance indicates short term bottoming in USD/JPY. Intraday bias is mildly on the upside for rebound towards 55 days EMA (now at 77.12) But after all, there is no clear indication of near term reversal as long as 78.28 resistance holds. That is, decline from 79.52 should resume sooner or later. Below 76.02 will target 75.56 low next.
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