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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 Weekly Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | May 23 15 08:10 GMT
USD/JPY's rise and break of 120.50 minor resistance aurges that the sideway pattern from 122.01 could have completed at 118.88 already. And, the larger up trend might be resuming too. Initial bias remains on the upside this week for 122.01 first. Break will target next key resistance at 124.13. Nonetheless, we'd stay cautious before the breakout. Below 120.63 minor support will turn bias neutral again and would probably extend recent range trading.
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USD/JPY Mid-Day Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | May 22 15 13:26 GMT
USD/JPY's rise resumes after brief retreat and intraday bias is back on the upside. Sideway pattern from 122.01 is possibly completed at 118.88 and further rise would be seen to retest 122.01 first. Decisive break there will bring up trend resumption and target 124.13 key resistance next. Nonetheless, we'd stay cautious before the breakout. Below 120.63 minor support will turn bias neutral again and would probably extend recent range trading.
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USD/JPY Daily Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | May 22 15 03:25 GMT
USD/JPY retreats today but with 120.58 minor support intact, further rise is still in favor. Sideway pattern from 122.01 is possibly completed at 118.88 and further rise would be seen to retest 122.01 first. Decisive break there will bring up trend resumption and target 124.13 key resistance next. Nonetheless, we'd stay cautious before the breakout. Below 120.58 minor support will turn bias neutral again and would probably extend recent range trading.
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USD/JPY Mid-Day Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | May 21 15 13:22 GMT
Intraday bias in USD?JPY remains on the upside for the moment. Sideway pattern from 122.01 is possibly completed at 118.88 and further rise would be seen to retest 122.01 first. Decisive break there will bring up trend resumption and target 124.13 key resistance next. Nonetheless, we'd stay cautious before the breakout. Below 120.58 minor support will turn bias neutral again and would probably extend recent range trading.
Read more...
 
USD/JPY Daily Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | May 21 15 02:42 GMT
As noted before, USD/JPY's sideway pattern from 122.01 is possibly completed at 118.88. Intraday bias remains on the upside for retesting 122.01 first. Decisive break there will bring up trend resumption and target 124.13 key resistance next. Nonetheless, we'd stay cautious before the breakout. Below 120.58 minor support will turn bias neutral again and would probably extend recent range trading.
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USD/JPY Mid-Day Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | May 20 15 13:07 GMT
As noted before, USD/JPY's sideway pattern from 122.01 is possibly completed at 118.88. Intraday bias remains on the upside for retesting 122.01 first. Decisive break there will bring up trend resumption and target 124.13 key resistance next. Nonetheless, we'd stay cautious before the breakout. Below 120.37 minor support will turn bias neutral again and would probably extend recent range trading.
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USD/JPY Daily Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | May 20 15 03:43 GMT
USD/JPY surges to as high as 120.97 so far. The break of 120.50 resistance and 120.83 resistance suggests that the sideway pattern from 122.01 is likely completed at 118.88. Intraday bias is now on the upside for retesting 122.01 first. Decisive break there will bring up trend resumption and target 124.13 key resistance next. Nonetheless, we'd stay cautious before the breakout. Below 120.37 minor support will turn bias neutral again and would probably extend recent range trading.
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USD/JPY Mid-Day Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | May 19 15 13:27 GMT
Intraday bias in USD/JPY remains neutral for the moment. Overall, the pair could still be in consolidation pattern from 121.84 and another decline might be seen. Below 118.32 will extend the decline from 122.01. In that case, we'd expect strong support from 115.55 cluster support (38.2% retracement of 105.19 to 121.84 at 115.47) to contain downside and bring rebound. Meanwhile, above 120.50 will turn focus back to 122.01 resistance.
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USD/JPY Daily Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | May 19 15 06:54 GMT
Intraday bias in USD/JPY remains neutral for the moment. Overall, the pair could still be in consolidation pattern from 121.84 and another decline might be seen. Below 118.32 will extend the decline from 122.01. In that case, we'd expect strong support from 115.55 cluster support (38.2% retracement of 105.19 to 121.84 at 115.47) to contain downside and bring rebound. Meanwhile, above 120.50 will turn focus back to 122.01 resistance.
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USD/JPY Mid-Day Outlook Print E-mail
USDJPY Outlook | Written by ActionForex.com | May 18 15 14:19 GMT
USD/JPY recovers mildly today but stays in sideway trading and intraday bias remains neutral. Overall, the pair could still be in consolidation pattern from 121.84 and another decline might be seen. Below 118.32 will extend the decline from 122.01. In that case, we'd expect strong support from 115.55 cluster support (38.2% retracement of 105.19 to 121.84 at 115.47) to contain downside and bring rebound. Meanwhile, above 120.83 will turn focus back to 122.01 resistance.
Read more...
 
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