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USD/JPY Daily Technical Forex
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USD/JPY Daily Technical Forex
Thu, Jun 19 2008, 09:58 GMT
by Timothy Straiton
Current level at 10:10 CET is 107.51, trading below the daily pivot point level of 108.01 and also below first support at 107.58. Second support comes in at 107.29. The falling 200 day moving average at 108.14, seems to be capping the upside while the daily MACD is threatening to sink below the zero line. Good support is to be expected at 106.80, being the Fibonacci 38.2 percent retracement of the entire 95.75 - 124.15 range. Pivot point related resistance levels for today are at 108.31 and then 108.74.
Published on Thu, Jun 19 2008, 09:58 GMT
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USD/JPY Daily Technical Forex
Tue, Jun 17 2008, 12:21 GMT
by Timothy Straiton
Current level at 14:20 CET is 108.26, close to the daily pivot point at 108.22 and challenging the 200 day moving average, now at 108.21 for the first time since the 8th August 2007. The daily picture remains positive with Bollinger and standard error bands poised to the upside. A 14 day ADX at 20 and rising reflects the clear directional force to the upside. The next significant resistance is at 110.15 which marks the Fibonacci 50 percent retracement level of the entire 95.75 - 124.15 range. Pivot point related resistance levels for today are set at 108.56 and then 108.92. Support levels are at 107.87 and then 107.54.
Published on Tue, Jun 17 2008, 12:21 GMT
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USD/JPY Daily Technical Forex
Thu, Jun 12 2008, 09:09 GMT
by Timothy Straiton
Current level at 11:07 CET is 107.46, trading above the daily pivot point level of 107.10 but shying first resistance at 107.63. Second resistance is at 108.29. The daily picture remains positive despite the fact that we have reached the initial Fibonacci 38.2 percent retracement level at 106.80, measured over the entire 95.75 - 124.15 range. Daily Bollinger and standard error bands are poised to the upside and the 14 day relative strength index is at 64 percent. The falling 200 day moving average is now close at hand at 108.29. Pivot point related support levels for today are at 106.44 and then 105.91.
Published on Thu, Jun 12 2008, 09:09 GMT
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USD/JPY Daily Technical Forex
Tue, Jun 10 2008, 06:54 GMT
by Timothy Straiton
Current level at 08.54 CET is 106.56, trading above the daily pivot point level of 105.81, having remained pinned under first resistance at 106.85 throughout Asian trade. The 106.80 level represents the Fibonacci 38.2 percent retracement of the 124.15 - 95.75 range and could well cap the upside for the time being. The daily picture remains positive with Bollinger and standard error bands poised to the upside. The daily MACD oscillator is rising and above the zero line. Pivot point related support levels for today are set at 105.27 and then 104.23. Second resistance comes in at 107.40.
Published on Tue, Jun 10 2008, 06:54 GMT
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USD/JPY Daily Technical Forex
Thu, Jun 5 2008, 08:05 GMT
by Timothy Straiton
Current level at 10:05 CET is 105.95, trading well above the daily pivot point level of 105.06 and also above second resistance at 105.87. The 106.80 level will no doubt act as a magnet as it marks the 38.2 percent Fibonacci retracement of the entire 124.15 - 95.75 range. Falling trendline resistance from the 124.15 high also comes in at the same level. Daily Bollinger and standard error bands are poised to the upside. The 14 day RSI is at 62 percent. Pivot point related support levels for today are set at 104.77 and then 104.25.
Published on Thu, Jun 5 2008, 08:05 GMT
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USD/JPY Daily Technical Forex
Mon, Jun 2 2008, 07:52 GMT
by Timothy Straiton
Current level at 09:52 CET is 105.10, trading well under the daily pivot point level of 105.50 and now close to second support at 105.00. The phase of upside retracement which has been in force since the middle of March now seems to be stalling. Daily Bollinger bands have remained flat over the past week while the upper band at 105.62 has sealed off attacks to the upside. Levels to monitor now are the Fibonacci 38.2 percent retracement level at 106.80 and the 23.6 retracement level at 102.60 ahead of the Daily Ichimoku cloud top at 102.37. Pivot point related resistance levels for today are set at 105.75 and then 105.99.
Published on Mon, Jun 2 2008, 07:52 GMT
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USD/JPY Daily Technical Forex
Thu, May 29 2008, 08:04 GMT
by Timothy Straiton
Current level at 10:04 CET is 105.08, trading above the daily pivot point level of 104.63 which has held up throughout Asian trade. Daily Bollinger and standard error bands are poised slightly to the upside. The daily MACD oscillator is above the zero line and poised to the upside. The 55 day moving average is at 102.54 and has begun to rise. The next important level to watch on the upside is the Fibonacci 38.2 percent retracement level at 106.80, measured over the 95.75 - 124.15 range. Downside levels to monitor are the Fibo 23.6 retracement at 102.75 and the daily Ichimoku cloud, currently marked out within the 102.03 - 102.37 range. Pivot point related resistance levels for today are set at 105.36 and then 106.05. Support levels are at 103.94 and then 103.20.
Published on Thu, May 29 2008, 08:04 GMT
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USD/JPY Daily Technical Forex
Mon, May 26 2008, 07:51 GMT
by Timothy Straiton
Current level at 09:51 CET is 103.28, trading below the daily pivot point level of 103.54, with the 14 day ADX at 12 which is the lowest level seen over the past 12 months and reflects the utter lack of direction in this currency pair. A break down through the daily Ichimoku cloud, bracketed within the 101.35 - 102.37 range would bring a little life into this market. Daily Bollinger and standard error bands are poised to the downside. Pivot point related support levels for today are set at 102.84 and then 102.33. Resistance levels are at 104.05 and then 104.75.
Published on Mon, May 26 2008, 07:51 GMT
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USD/JPY Daily Technical Forex
Thu, May 22 2008, 09:32 GMT
by Timothy Straiton
Current level at 11:32 CET is 103.16, trading just below the daily pivot point level of 103.24, having seen a low in late Asian trade of 102.73. The daily picture is one of gradual deterioration with Bollinger and standard error bands now poised to the downside and daily MACD below the zero line. The daily Ichimoku cloud is close at hand and encases the 102.37 - 100.48 range. The 23.6 percent Fibonacci retracement level at 102.70, measured over the entire 124.15 - 95.75 range has managed to contain attacks to the downside over the past 5 weeks and should be monitored closely. Pivot point related support levels for today are set at 102.78 and then 102.51. Resistance levels are at 103.52 and then 103.97.
Published on Thu, May 22 2008, 09:32 GMT
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USD/JPY Daily Technical Forex
Tue, May 20 2008, 12:16 GMT
by Timothy Straiton
Current level at 14:15 CET is 104.11, trading close to the daily pivot point level of 104.22 and lacking direction. Daily Bollinger and standard error bands remain flat while the daily MACD remains below the zero line. The 14 day ADX is at 14 and falling, which reflects the utter lack of directional force in this currency pair. The first important test of the downside will be 102.37, which corresponds to the Fibonacci 23.6 percent retracement level of the the 95.75 - 124.15 range and also forms the top of the daily Ichimoku cloud. Pivot point related support levels for today are at 103.75 and then 103.16. Resistance levels are at 104.81 and then 105.28.
Published on Tue, May 20 2008, 12:16 GMT
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USD/JPY Daily Technical Forex
Mon, May 19 2008, 09:10 GMT
by Timothy Straiton
Current level at 11:09 CET is 103.79, trading below the daily pivot point level of 104.23, having seen a high of 104.31 in early European trade. The daily picture is slightly on the defensive with standard error bands poised to the downside and daily MACD below the zero line. Bollinger bands are flat and contracting. Should the downside accelerate, then initial support is expected at 102.37 which represents the daily Ichimoku cloud top. The flat 55 day moving average is nearby at 102.33. The falling 14 day ADX is at 16 and reflects the lack of direction evident in this currency pair at present. Pivot point related support levels for today are at 103.36 and then 102.66. Resistance levels are at 104.93 and then 105.80.
Published on Mon, May 19 2008, 09:10 GMT
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USD/JPY Daily Technical Forex
Thu, May 15 2008, 09:55 GMT
by Timothy Straiton
Current level at 11:55 CET is 105.09, trading around the daily pivot point level of 105.05, having seen a low of 104.56 in early European trade. The Fibonacci 23.6 percent retracement level of 102.60, measured over the 95.75 - 124.15 range appears to contain the downside at present. The daily Ichimoku cloud top at 102.37 represents additional support. From a daily perspective there is a clear lack of direction, as reflected by the falling 14 day ADX, currently at 19. Falling standard error bands and rising Bollinger bands also demonstrate lacking direction in this currency pair. Pivot point related support levels for today are set at 104.65 and then 104.18. Ressitance levels are at 105.52 and then 105.92.
Published on Thu, May 15 2008, 09:55 GMT
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USD/JPY Daily Technical Forex
Tue, May 13 2008, 08:30 GMT
by Timothy Straiton
Current level at 10:28 CET is 103.44, trading below the daily pivot point level of 103.49. Daily Bollinger bands are flat while standard error bands are now poised to the downside. Daily MACD is now below the zero line. The bullish tendency in force over the past 2 months seems to be evaporating and it seems likely that downside potential will be tested. Pivot point related support levels for today are set 102.95 and then 102.04. Resistance levels are at 104.40 and then 104.95. Further levels to watch on the downside are the daily Ichimoku cloud which is marked out within the 100.46 - 102.37 bracket and the lower daily Bollinger band at 102.15.
Published on Tue, May 13 2008, 08:30 GMT
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USD/JPY Daily Technical Forex
Fri, May 9 2008, 07:36 GMT
by Timothy Straiton
Current level at 09:35 CET is 103.07, trading below the daily pivot point level of 104.02. The daily MACD has now moved below the zero line and suggests further downside potential may well lie ahead. The next interesting levels to the downside are the daily Ichimoku cloud top and base, currently marked out by 102.37 and 100.76. A break through the base will put immediate focus on the previous low at 95.75. Pivot point related support levels for today are set at 103.08 and then 102.45. Resistance levels are set at 104.64 and then 105.56.
Published on Fri, May 9 2008, 07:36 GMT
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USD/JPY Daily Technical Forex
Thu, May 8 2008, 11:39 GMT
by Timothy Straiton
Current level at 13:38 CET is 104.30, trading below the daily pivot point level of 104.98, having stamped out a 1.8 percent range over the past 24 hours. Although daily Bollinger and standard error bands are still poised to the upside, daily MACD is about to cross below the zero line, which suggests that upside momentum is fading. The falling 200 and 55 day moving averages remind us that this market remains in a long-term bear trend and that further fantasy to the downside could well unfold soon. The daily Ichimoku cloud is encapsuled within the 101.07 - 102.37 range and market action around these levels should be monitored closely. Pivot point related support levels for today are 104.36 and then 104.00. Resistance levels are at 105.34 and then 105.95.
Published on Thu, May 8 2008, 11:39 GMT
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USD/JPY Daily Technical Forex
Wed, May 7 2008, 08:07 GMT
by Timothy Straiton
Current level at 09:35 CET is 105.00, trading above the daily pivot point level of 104.64. Both daily and hourly Bollinger and standard error bands are poised to the upside and reflect the friendly tendency currently in place. The daily MACD threatens to fall below the zero line and could be the first indication that upside momentum is evaporating. Pivot point related support levels for today are at 104.15 and then 103.54. Resistance levels are set at 105.24 and then 105.73.
Published on Wed, May 7 2008, 08:07 GMT
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USD/JPY Daily Technical Forex
Tue, May 6 2008, 14:53 GMT
by Timothy Straiton
Current level at 12:40 CET is 104.89, trading below the daily pivot point level of 105.10 although the daily Bollinger and standard error bands are poised to the upside. For the last 10 days this market has managed to stay above the daily Ichimoku cloud top which is currently marked out at 101.22 and 102.37. The initial upside target is 106.90 which represents the Fibonacci 38.2 percent retracement of the 124.15 - 95.75 range. Pivot point related support levels for today are set at 104.58 and then 104.22. Resistance levels are at 105.46 and then 105.98.
Published on Tue, May 6 2008, 14:53 GMT
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USD/JPY Daily Technical Forex
Fri, Apr 25 2008, 09:13 GMT
by Timothy Straiton
Current level at 11:12 CET is 104.52, trading above the daily pivot point level of 104.08, having stalled at first resistance of 104.84. General JPY strength makes the upside heavy going in this currency pair, however both daily and hourly indicators confirm a mildly positive trend showing through. The next important resistance is the Fibonacci 38.2 percent retracement level of 106.80, measured over the 95.75 - 124.15 range, followed by the falling trendline resistance line at 109.00 drawn from the 124.15 high. Pivot point related support levels for today are set 103.61 and then 102.84.
Published on Fri, Apr 25 2008, 09:13 GMT
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USD/JPY Daily Technical Forex
Thu, Apr 24 2008, 09:09 GMT
by Timothy Straiton
Current level at 11:08 CET is 103.76, 0.3 percent higher than yesterday compared with gains in other US$ crosses of up to 0.85 percent. It appears that the JPY is gradually showing signs of stability across the board. Pivot point related resistance levels for today are set at 103.88 and then 104.35. Todays pivot point is at 103.31 with support levels at 102.84 and then 102.28. The daily outlook remains constructive with Bollinger and standard error bands poised to the upside. The daily Ichimoku cloud top is at 103.13 while the hourly value is at 103.35.
Published on Thu, Apr 24 2008, 09:09 GMT
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USD/JPY Daily Technical Forex
Wed, Apr 23 2008, 09:32 GMT
by Timothy Straiton
Current level at 11:31 CET is 103.25 trading above the daily pivot point level of 103.05 and also above the daily Ichimoku cloud top at 103.13. Both daily and hourly Bollinger and standard error bands are poised slightly to the upside and reflect the lack of downside pressure observed in this currency pair since the 17th of March when a new multi-year low was made at 95.75. Pivot point related support levels for today are set at 102.55 and then 102.17. Resistance levels are at 103.43 and then 103.93.
Published on Wed, Apr 23 2008, 09:32 GMT
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USD/JPY Daily Technical Forex
Tue, Apr 22 2008, 07:34 GMT
by Timothy Straiton
Current level at 09:35 CET is 103.06, trading below the daily pivot point level of 103.42 and also below the hourly Ichimoku cloud base, currently at 103.14. Pivot point related support levels for today are set at 102.77 and then 102.34. Resistance levels are at 103.85 and then 104.50. The daily picture remains slightly on the bullish side with bollinger and standard error bands poised upwards.
Published on Tue, Apr 22 2008, 07:34 GMT
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USD/JPY Daily Technical Forex
Mon, Apr 21 2008, 12:23 GMT
by Timothy Straiton
Current level at 14:23 CET is 103.48, trading below the daily pivot point level of 103.53 with hourly Bollinger and standard error bands poised slightly to the downside. Since the sharp sell-off last month, culminating in a move down to 95.75 on March 17th, this market has managed to regain compusure. Daily Bollinger and standard error bands are now poised to the upside and this currency pair has managed to break above the daily Ichimoku cloud top, situated at 103.13. Pivot point related resistance levels for today are set at 104.79 and thereafter at 105.91 ahead of the Fibonacci 38.2 percent retracement level of 106.80, measured over the 95.75 - 124.15 range. Support levels today are at 102.41 and then 101.15.
Published on Mon, Apr 21 2008, 12:23 GMT
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USD/JPY Daily Technical Forex
Thu, Mar 27 2008, 09:16 GMT
by Timothy Straiton
Current level at 10:15 CET is 99.67, trading above the daily pivot point level of 99.38 and unable to challenge the previous low of 95.76. Daily Bollinger bandwidth is contracting rapidly while daily standard error bands have started to rise. We are now almost 13 percent below the 200 day moving average which in itself is provoking a sharp recovery. Pivot point related resistance levels are set at 99.98 and then 199.92. Support levels are at 98.43 and then 97.84.
Published on Thu, Mar 27 2008, 09:16 GMT
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USD/JPY Daily Technical Forex
Wed, Mar 26 2008, 10:26 GMT
by Timothy Straiton
Current level at 11:25 CET is 99.36, trading below the daily pivot point of 100.21 in an overall bearish environment. Daily Bollinger bands are now contracting and suggest that a period of consolidation lies ahead. The 14 day ADX is also falling and confirms the lack of directional movement at present. Daily standard error bands have started to rise while daily Bollinger bands are still falling. Pivot point related support levels for today are at 99.37 and then 98.80. Resistance levels are at 100.79 and then 101.62. We are still trading at almost 12 percent below the 200 day moving average and thus a correction to the upside must be reckoned with soon.
Published on Wed, Mar 26 2008, 10:26 GMT
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USD/JPY Daily Technical Forex
Tue, Mar 25 2008, 10:55 GMT
by Timothy Straiton
Current level at 11:54 CET is 100.38, trading above the daily pivot point level of 100.37 with hourly Bollinger and standard error bands now flat. After having reached the Fibonacci 76.4 percent retracement level of the 79.78 - 147.62 range at 95.90, the chances are good that a sizeable recovery will unfold and possibly challenge the daily Ichimiko cloud base at 107.02. Daily Bollinger bands are contracting while daily standard error bands are now turning to the upside. Pivot point related resistance levels for today are set at 101.26 and then 101.79. Support levels are at 99.84 and thereafter at 98.94.
Published on Tue, Mar 25 2008, 10:55 GMT
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USD/JPY Daily Technical Forex
Thu, Mar 20 2008, 09:08 GMT
by Timothy Straiton
Current level at 10:08 CET is 99.69, trading above the daily pivot point level of 98.85, having reached our medium term downside objective of 95.90 on the 17th of March. This level corresponds to the Fibonacci 76.4 percent retracement level measured over the 1995 low of 79.78 to the 1998 high of 147.62. We are now trading at 13.5 percent below the falling 200 day moving average, which suggests that a strong rebound will be seen in the not too distant future. The 14 day ADX is levelling off from fairly high readings which suggests that the downside directional force is now evaporating. Pivot point related resistance level for today are set at 100.02 and then 101.27. The daily Ichimoku cloud base is now at 107.40 and this will probably be the initial magnet in the coming corrective phase.
Published on Thu, Mar 20 2008, 09:08 GMT
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USD/JPY Daily Technical Forex
Mon, Mar 17 2008, 11:44 GMT
by Timothy Straiton
Current level at 12:45 CET is 96.50, trading well below the daily pivot point level of 99.71 and having reached our downside target of 95.70 which represents the Fibonacci 76.4 percent retracement level of the entire 79.78 - 147.62 range. While an overshooting is by all means possible in such a volatile market environment, we are of the opinion that additional significant downside potential has been exhausted for the present time. Existing short positions should now be hedged.
Published on Mon, Mar 17 2008, 11:44 GMT
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USD/JPY Daily Technical Forex
Fri, Mar 14 2008, 13:36 GMT
by Timothy Straiton
Current level at 12:10 CET is 100.58, trading below the daily pivot level of 100.73, having broken through the old December 1999 support level of 101.30 earlier this week. The next significant support is to be encountered at 95.90 which represents the Fibonacci 76.40 percent retracement level of the entire 79.78 - 147.62 range. This target may well not be reached immediately, bearing in mind that we are trading 12.5 percent below the 200 day moving average and the 14 day RSI is currently at 23 percent. Such values could well provoke a reaction to the upside in the not too distant future. Pivot point related resistance levels for today are set at 101.68 and then 102.64. Support levels are at 99.77 and then 98.83.
Published on Fri, Mar 14 2008, 13:36 GMT
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USD/JPY Daily Technical Forex
Wed, Feb 27 2008, 09:20 GMT
by Timothy Straiton
Current level at 10:20 CET is 106.32, trading well below the daily pivot point of 107.54 and also below the hourly Ichimoku cloud base at 107.48. In view of the absurdly low valuations of the JPY against other majors, a catching-up process may well soon materialize and bring a downward acceleration to the long term target of 95.90, which corresponds to the Fibonacci 76.4 percent retracement of the 79.78 - 147.62 range. Pivot point related resistance levels for today are set at 107.92 and then 108.52, ahead of the daily Ichimoku cloud base at 108.58.
Published on Wed, Feb 27 2008, 09:20 GMT
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USD/JPY Daily Technical Forex
Mon, Feb 25 2008, 09:42 GMT
by Timothy Straiton
Current level at 10:42 CET is 107.67, trading well above the daily pivot point level of 107.16 and curently eating its way up through the hourly Ichimoku cloud which is bracketed by 107.58 and 107.76. Pivot point related resistance levels for today are set at 107.59 and then 108.00. Support levels are at 106.75 and then 106.32. The daily picture reflects lack of direction with longer term moving averages still poised to the downside while Bollinger bands are poised slightly to the upside.
Published on Mon, Feb 25 2008, 09:42 GMT
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USD/JPY Daily Technical Forex
Fri, Feb 22 2008, 11:21 GMT
by Timothy Straiton
Current level at 12:20 CET is 107.01, trading below the daily pivot point of 107.61 and looking ready to resume the bearish trend which has dictated this currency pair for the past 7 months. Pivot point related support levels for today are set at 106.88 and then 106.43. Resistance levels are at 108.06 and then 108.78. The Fibonacci 61.8 percent retracement at 105.70, measured over the 79.78 - 147.62 range has managed to repel probes to the downside for now, although the current technical scenario suggests that fresh attacks to the downside are pending. A break of the recent low at 104.97 would set focus on the November 1999 low of 101.30 ahead of the Fibo 76.4 percent retracement at 95.80.
Published on Fri, Feb 22 2008, 11:21 GMT
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USD/JPY Daily Technical Forex
Thu, Feb 21 2008, 09:55 GMT
by Timothy Straiton
Current level at 10:54 CET is 108.02, trading close to the daily pivot point at 107.97 and also above the hourly Ichimoku cloud top at 107.77. Daily Bollinger and standard error bands are still poised slightly to the upside while hourly values of the same indicators are falling. Pivot point related resistance levels for today are set at 108.46 and then 108.85 ahead of the 23.6 percent Fibonacci retracement at 109.50, measured over the 104.97 - 124.15 range. Support levels are seen at 107.57 and then 107.08. The longer term moving averages are still poised to the downside with the 55 day at 109.28 and the 200 day at 115.10. The falling 14 day ADX testifies to the current directionless status of this currency pair.
Published on Thu, Feb 21 2008, 09:55 GMT
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USD/JPY Daily Technical Forex
Wed, Feb 20 2008, 09:07 GMT
by Timothy Straiton
Current level at 10:06 CET is 107.51, trading below the daily pivot point of 107.79 which also forms the hourly Ichimoku cloud base. Although daily Bollinger and standard error bands are poised slightly to the upside, the extent of the recent recovery has been limited. Only a successful challenge of the Fibonacci 23.6 percent retracement at 109.50, measured over the 104.97- 124.15 range would raise hopes of a sustained recovery. Numerous technical factors however, suggest that the downside has not yet run its course. The longer term moving averages remain poised to the downside and we are still trading below the daily Ichimoku cloud base, currently at 109.17. Pivot point related resistance levels for today are set at 108.35 and then 108.85. Support levels are set at 107.29 and then 106.72.
Published on Wed, Feb 20 2008, 09:07 GMT
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USD/JPY Daily Technical Forex
Mon, Feb 18 2008, 10:42 GMT
by Timothy Straiton
Current level at 11:40 CET is 108.19, trading above the daily pivot point level of 107.80 and in sync with general US$ strength seen in other majors. Both hourly and daily Bollinger and standard error bands are poised to the upside and the current price is above the hourly Ichimoku cloud top at 108.12. Pivot point related resistance levels for today are set at 108.34 and then 108.85. Support level are at 107.28 and then 106.75. Further significant resistance is to be expected at 109.50 which represents the Fibonacci 23.6 percent retracement of the 104.7 - 124.15 range.
Published on Mon, Feb 18 2008, 10:42 GMT
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USD/JPY Daily Technical Forex
Fri, Feb 15 2008, 09:53 GMT
by Timothy Straiton
Current level at 10:45 CET is 108.15 trading above the daily pivot point level of 108.07 and trying to hold onto gains after the break out of the 105-108 bracket yesterday. Daily Bollinger and standard error bands are now poised slightly to the upside and the next resistance level of significance is the Fibonacci 23.6 percent retracement level at 109.50 measured over the 104.97 - 124.15 range. The daily Ichimoku cloud base is at 110.64. Whether the current break to the upside has stamina remains uncertain. The falling 200 and 55 day moving averages suggest that the chances of a relapse are more likely. Pivot point related resistance levels for today are set at 108.38 and then 108.92. Support levels are at 107.53 and then 107.22.
Published on Fri, Feb 15 2008, 09:53 GMT
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USD/JPY Daily Technical Forex
Thu, Feb 14 2008, 08:51 GMT
by Timothy Straiton
Current level at 09:49 CET is 108.28, trading above the daily pivot point level of 107.85 and finally leaving the 105 -108 range which has bracketed this market since the middle of January. Pivot point related resistance levels for today are set at 108.71 and then 109.23 ahead of the 23.6 percent Fibonacci retracement of the 104.97 - 124.15 range which comes in at 109.50. The falling daily ichimoku cloud base is currently at 110.78. Daily Bollinger and standard error bands are now poised to the upside and we expect further gains to be made during the sessions to come. Pivot point related support levels today are set at 107.33 and then 106.47.
Published on Thu, Feb 14 2008, 08:51 GMT
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USD/JPY Daily Technical Forex
Wed, Feb 13 2008, 09:09 GMT
by Timothy Straiton
Current level at 10:07 CET is 107.25, trading close to todays pivot point level of 107.21. Daily Bollinger bandwidth has fallen to extremely low levels and is to us a warning that the potential for an explosive move is now latent. Based on the location of longer term indicators, we must assume that a move to the downside is more likely. The market has remained below the 200 and 55 day moving averages since the beginning of the year and moves to the upside have been meek so far. The first hint of downside acceleration would be a break of the recent low of 104.97. Technical support levels thereafter would be the December 1999 low of 101.33, followed by the Fibonacci 76.4 percent retracement level at 95.80, measured over the entire 79.78 - 147.62 range. Pivot point related resistance levels today are at 107.61 and then 107.94.
Published on Wed, Feb 13 2008, 09:09 GMT
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USD/JPY Daily Technical Forex
Mon, Feb 11 2008, 08:57 GMT
by Timothy Straiton
Current level at 09:55 CET is 106.67, trading well below the daily pivot point level of 107.40 and also below second support of 106.82. This currency pair is still not able to generate any directional movement whatsoever and continues to oscillate within the 105 -108 bracket. The longer term outlook remains on the defensive with the 200 day moving average now at 115.54 and falling. Daily Bollinger and standard error bands remain flat and narrow. Pivot point related resistance levels are set at 107.66 and then 107.98.
Published on Mon, Feb 11 2008, 08:57 GMT
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USD/JPY Daily Technical Forex
Fri, Feb 8 2008, 10:39 GMT
by Timothy Straiton
Current level at 11:38 CET is 107.48, trading above the daily pivot point level of 107.02, having seen a brief low yesterday of 105.92. This currency pair is in the eye of the hurricane, with US dollar strength on the one hand and Yen strength on the other. Daily MACD has moved into positive territory and daily standard errror bands are now poised to the upside; both technical factors which make a US$ recovery seem likely now. The first Fibonacci retracement goal near at hand is the 23.6 percent retracement level at 109.50, measured over the 104.97 - 124.15 range. Pivot point related resistance levels for today are set at 108.13 and then 108.93. Support levels are at 106.22 and then 105.11.
Published on Fri, Feb 8 2008, 10:39 GMT
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USD/JPY Daily Technical Forex
Wed, Feb 6 2008, 08:46 GMT
by Timothy Straiton
Current level at 09:45 CET is 106.42, trading below the daily pivot point level of 107.06 but unable to break out of the 105 - 108 bracket. Daily Bollinger bandwidth is still contracting to extreme levels and this could provoke a strong break out of the current range. The long term picture remains bearish with falling 200 and 55 day moving averages, while daily Bollinger and standard error bands are poised slightly to the downside. Should the downside open up again then levels to watch will be 101.30, being the November 1999 low, followed by 95.90 which represents the Fibonacci 76.4 percent retracement level of the entire 79.78 - 147.62 range. Pivot point related support levels for today are set at 106.37 and then 105.96. Resistance levels are at 107.47 and then 108.16.
Published on Wed, Feb 6 2008, 08:46 GMT
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USD/JPY Daily Technical Forex
Tue, Feb 5 2008, 09:44 GMT
by Timothy Straiton
Current level at 10:43 CET is 107.22, trading well above the daily pivot point of 106.77 and flirting with second resistance at 107.31. Daily Bollinger and standard error bands are now no longer falling and this makes further upside retracement more likely, with 109.50 representing the Fibonacci 23.6 percent retracement of the 124.15 - 104.97 range. Thereafter, the daily Ichimoku cloud base comes in at 111.57. Pivot point related support levels for today are set at 106.45 and then 106.23.
Published on Tue, Feb 5 2008, 09:44 GMT
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USD/JPY Daily Technical Forex
Mon, Feb 4 2008, 09:56 GMT
by Timothy Straiton
Current level at 10:55 CET is 106.86, trading above the daily pivot point level of 106.33 and also above the hourly Ichimoku cloud top at 106.31. Hourly Bollinger and standard error bands are poised to the upside while daily values of the same indicators are flat with Bollinger bandwidth still contracting. The longer term picture remains bearish with the 200 and 55 day moving averages both poised to the downside. Sporadic moves to the upside have proven to be very meek and short lived so far. Pivot point related support level for today are set at 105.92 and then 105.36. Resistance levels are at 106.89 and then 107.30.
Published on Mon, Feb 4 2008, 09:56 GMT
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USD/JPY Daily Technical Forex
Fri, Feb 1 2008, 08:24 GMT
by Timothy Straiton
Current level at 09:23 CET is 106.49, trading above the daily pivot point level of 106.32 but below the hourly Ichimoku cloud base which is at 106.55. The daily picture remains negative with falling long term moving averages although Bollinger and standard error bands are more or less flat. The downside seems to be blocked off by the Fibonacci 61.8 retracement level of 105.70, measured over the 79.78 - 147.62 range. On the other hand rallies to the upside have been extremely meek. Based on the general US dollar weakness against most majors, we feel it is only a matter of time before we break lower. Downside targets are the old December 1999 lows at 101.33 and then the Fibonacci 76.4 percent retracement level of 95.80, measured over the 79.78 - 147.62 range. Pivot point related resistance levels for today are set at 106.93 and then 107.47. Support levels are at 107.78 and then 105.17.
Published on Fri, Feb 1 2008, 08:24 GMT
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USD/JPY Daily Technical Forex
Thu, Jan 31 2008, 11:01 GMT
by Timothy Straiton
Current level at 12:01 CET is 106.46, trading below the daily pivot point level of 106.61, having seen a low today of 106.03. The daily picture remains bearish with long-term moving averages still fallling, although daily Bollinger and standard error bands are now more or less flat. Both the JPY and the USD are competing to be the weakest currencies amongst the majors at present. This has resulted in a stalmate situation for this currency pair. Pivot related support levels today are set at 105.76 and then 105.25. Resistance levels are at 107.12 and then 107.97.
Published on Thu, Jan 31 2008, 11:01 GMT
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USD/JPY Daily Technical Forex
Tue, Jan 29 2008, 08:59 GMT
by Timothy Straiton
Current level at 09:58 CET is 106.64, trading below the daily pivot point level of 106.74, plagued by random moves and unable to break down through the important 61.8 percent Fibonacci retracement level of the 79.78- 147.62 range at 105.70. The bear move which has been in place since late December seems to be running out of steam and makes the chance of a rally increasingly likely. Daily standard error bands are now flat while Bollinger bandwidth is contracting. Should a rally unfold as we suspect, then the first resistance level to focus on will be the Fibonacci 23.6 percent retracement at 109.50, measured over the 124.15 - 104.97 range. Pivot related resistance levels today are at 107.48 and then 107.88. Support level s are at 106.34 and then 105.60.
Published on Tue, Jan 29 2008, 08:59 GMT
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USD/JPY Daily Technical Forex
Mon, Jan 28 2008, 09:38 GMT
by Timothy Straiton
Current level at 10:38 CET is 106.56, trading below the daily pivot point level of 107.11, having seen a low in Asian trade of 106.00 but unable make a daily close under the important 105.70 level as yet. Daily Bollinger bandwidth continues to contract and reflect the current inability of this currency pair to generate directional movement. Daily standard error bands have now turned positive and could be a pre-warning that more upside corrections are awaiting us. As long as the 105.70 level holds on a daily close basis, there is a fair chance that the Fibonacci 23.6 percent retracement level of the 104.97 - 124.15 range at 109.50 will be targeted in the near.-term. Pivot point related resistance levels today are at 107.50 and then 108.29.
Published on Mon, Jan 28 2008, 09:38 GMT
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USD/JPY Daily Technical Forex
Fri, Jan 25 2008, 12:01 GMT
by Timothy Straiton
Current level at 13:02 CET is 107.55, trading above the daily pivot point level of 106.73. Increasing signs of a recovery are making themselves apparent. The daily standard error bands have now started to trend upwards while Bollinger bands are contracting. The daily MACD histogram is now crossing above the zero line. The Fibonacci 23.6 percent retracement level of the 105.70 - 124.15 range comes in at 110 and should be the initial destination for the current recovery. Pivot point related resistance levels today are at 107.52 and then 108.03. Support levels are at 106.23 and then 105.44.
Published on Fri, Jan 25 2008, 12:01 GMT
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USD/JPY Daily Technical Forex
Wed, Jan 23 2008, 09:34 GMT
by Timothy Straiton
Current level at 10:34 CET is 106.16, trading below the daily pivot point level of 106.42. Falling daily DI- values suggest that the downside momentum is subsiding. The daily picture, however remains bearish with falling Bollinger and standard error bands and with Bollinger bandwidth contracting. Only a convincing break of the 105.60 level will mean that the bear trend has accumulated fresh energy. Further downside targets are 101.33 and 95.90. Pivot point related resistance levels for today are at 107.23 and then 107.84. Support levels are to be encountered at 105.80 and the 1.0500.
Published on Wed, Jan 23 2008, 09:34 GMT
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USD/JPY Daily Technical Forex
Tue, Jan 22 2008, 09:31 GMT
by Timothy Straiton
Current level at 10:30 CET is 106.44, trading above the daily pivot point level of 106.13 and finding temporary support at the Fibonacci 61.8 percent retracement level of 105.70, measured over the 79.78 - 147.62 range. While the longer term outlook remains bearish with the falling 200 day moving average at 116.42 and daily Bollinger and standard error bands poised to the downside, rising hourly Bollinger and standard error bands reflect a recovery, with pivot related resistance levels at 106.57 and then 107.43. The daily Ichimoku cloud base is now at 111.22 and could be viewed as as a target level for counter-trend activity.
Published on Tue, Jan 22 2008, 09:31 GMT
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USD/JPY Daily Technical Forex
Mon, Jan 21 2008, 09:29 GMT
by Timothy Straiton
Current level at 10:27 CET is 106.01, trading below the daily pivot point level of 106.94 and seemingly immune to the friendlier US$ tone seen in other major currencies. Immediate downside target is the daily pivot point related second support level of 105.70, which coincides with the Fibonacci 61.8 percent retracement level of the 79.78 - 147.62 range. Further important downside targets are 101.33 and then 95.80, the latter being the 76.4 percent retracement level of the same range. Resistance levels today are set at 107.52 and then 108.18.
Published on Mon, Jan 21 2008, 09:29 GMT
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USD/JPY Daily Technical Forex
Fri, Jan 18 2008, 11:30 GMT
by Timothy Straiton
Current level at 12:28 CET is 107.41, trading above the daily pivot point level of 107.01, having albeit reached the 61.8 percent Fibo retracement level of 105.70, measured over the 79.78 - 147.62 range. The daily picture remains bearish, with longer-term moving averages poised to the downside. Daily Bollinger and standard error bands are also poised to the downside although bear trend intensity is now subsiding. Pivot related resistance levels today are at 107.48 and then 108.36. Support levels are at 106.13 and then 105.66. Should a rally materialize, then resistance could be expected at 111.00, being the Daily Ichimoku cloud base, followed by 113.70 which is the Fibo 50 percent retracement of the 79.78 - 147.62 range.
Published on Fri, Jan 18 2008, 11:30 GMT
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USD/JPY Daily Technical Forex
Thu, Jan 17 2008, 08:23 GMT
by Timothy Straiton
Current level at 09:20 CET is 107.56, trading above tha daily pivot point level of 107.10 in sync with the general US$ recovery. The low yesterday of 105.92 just about reached the 61.8 percent Fibonacci target which we set at 105.70. With the 14 day RSI at 28 percent, there is now room for a recovery. Pivot related resistance levels are set at 108.29 and then 109.11. Support levels are at 106.28 and then 105.10.
Published on Thu, Jan 17 2008, 08:23 GMT
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USD/JPY Daily Technical Forex
Wed, Jan 16 2008, 07:58 GMT
by Timothy Straiton
Current level at 08:55 CET is 106.22, trading well below the daily pivot point level of 107.26, having seen a low in early European trading of 105.98 and thus coming close to the Fibonacci 61.8 retracement target of 105.70, measured over the 79.78-147.62 range. The daily and hourly Bollinger and standard error bands remain poised to the downside, however the 14 day RSI is already inside oversold territory at 28 percent and thus a reaction to the upside could take place soon.
Published on Wed, Jan 16 2008, 07:58 GMT
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USD/JPY Daily Technical Forex
Tue, Jan 15 2008, 14:27 GMT
by Timothy Straiton
Current level at 15:30 CET is 106.82, trading below the daily pivot point level of 108.21 and currently resting on second support at 106.70. The break of the previous low of 107.22, now opens up the way to the Fibonacci 61.8 percent retracement level of 105.70, measured from the 79.78 - 147.62 range. Further important support levels are the 76.4 percent Fibo retracement level of the same range at 95.80 and the December 1999 low at 101.33.
Published on Tue, Jan 15 2008, 14:27 GMT
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USD/JPY Daily Technical Forex
Mon, Jan 14 2008, 12:00 GMT
by Timothy Straiton
Current level at 13:00 CET is 107.45, trading well below the pivot point level of 109.07 and also below second support at 107.99. Both daily and hourly Bollinger and standard error bands are poised to the downside and underline the bearish sentiment attached to this market at the current time. A break of 107.20 will put focus on the 61. 8 percent Fibonacci retracement level of the 79.78 - 147.62 range which comes in at 105.70. Thereafter additional suport is to be expected at 101.33, being the December 1999 low.
Published on Mon, Jan 14 2008, 12:00 GMT
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USD/JPY Daily Technical Forex
Fri, Jan 11 2008, 10:25 GMT
by Timothy Straiton
Current level at 11:24 CET is 108.87, trading well below the daily pivot point level of 109.54 and below first support at 108.98. Second support level is at 108.56 and has not yet been challenged. The daily picture remains on the defensive with Bollinger and standard error bands still poised to the downside and the daily Ichimoku cloud base remaining unchallenged at 110.46. Pivot based resistance levels today are at 109.96 and then 110.51. Only a break of the previous low of 107.23 would open the way to our intermediate downside target level of 105.70.
Published on Fri, Jan 11 2008, 10:25 GMT
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USD/JPY Daily Technical Forex
Thu, Jan 10 2008, 08:35 GMT
by Timothy Straiton
Current level at 09:35 CET is 109.74, trading above the daily pivot point level of 109.66 and now tracing out higher highs and higher lows over the past three trading days. Despite the immense noise in this market at present, the risk seems to be to the upside for now. Daily pivot-based resistance is at 110.48, which is also the daily Ichimoku cloud base. Second resistance is to be encountered at 110.95 before the gap at 111.35 is closed. Support levels today are at 109.19 and then 108.36. Only a break of the 107.20 level will open up the way to the intermediate target of 105.70.
Published on Thu, Jan 10 2008, 08:35 GMT
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USD/JPY Daily Technical Forex
Wed, Jan 9 2008, 09:08 GMT
by Timothy Straiton
Current level at 10:08 CET is 109.34, trading above the daily pivot point level of 109.19, having remained locked in a sideways channel