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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 for the past 4 trading days. The daily outlook remains bearish, with Bollinger and standard error bands poised to the downside. Pivot point based resistance is at 109.58 and then 110.23. Support is to be found at 108.54 and then 108.15. The daily Ichimoku cloud base is now at 110.40 and should this level be reached, the chances are high that the gap at 111.30 will also be closed. Only a break of the previous low at 107.22 would open up the way to our intermediate downside target of 105.70.

Published on Wed, Jan 9 2008, 09:08 GMT

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USD/JPY Daily Technical Forex

Tue, Jan 8 2008, 09:39 GMT
by Timothy Straiton

Current level at 10:40 CET is 109.63, trading above the daily pivot point level of 109.16, having remained within the 107.90 - 109.75 range for the past three trading days. Long term moving averages remain poised to the downside as do daily Bollinger and standard error bands. In spite of the overall bearish tone of this market, a break above 110 could nevertheless spark off a gap closing move up to 111.35. Pivot point based resistance today is to be found at 109.78 and then 110.34. Support levels are at 108.60 and then 107.99.

Published on Tue, Jan 8 2008, 09:39 GMT

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USD/JPY Daily Technical Forex

Mon, Jan 7 2008, 10:22 GMT
by Timothy Straiton

Current level at 11:22 CET is 109.59, trading well above the daily pivot point level of 108.69 in sync with a general US$ recovery. Hourly Bollinger and standard error bands are poised to the upside. Resistance levels today are set at 109.46 and then 110.31. The daily Ichimoku cloud base is now at 110.40. Support levels are at 107.83 and then 107.06. The daily picture remains on the defensive with Bollinger and standard error bands poised to the downside and a falling 55 day moving average now at 111.94.

Published on Mon, Jan 7 2008, 10:22 GMT

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USD/JPY Daily Technical Forex

Fri, Jan 4 2008, 10:42 GMT
by Timothy Straiton

Current level at 11:40 CET is 109.50, trading above the daily pivot point level of 109.18, having taken a brief visit down as far as 108.25 yesterday. We are still below the daily Ichimoku cloud base, currently at 110.33 and upward retracement over the past 24 hours has been limited. Only a break up through first resistance at 110.11 would negate the current down trend. A break of the previous low of 107.22 would open up the path to our medium-term target of 105.70. Support levels for today are set at 108.61 and then 107.68. Resistance levels are to be encountered at 110.11 and then 110.67.

Published on Fri, Jan 4 2008, 10:42 GMT

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USD/JPY Daily Technical Forex

Thu, Jan 3 2008, 08:36 GMT
by Timothy Straiton

Current level at 09:35 CET is 109.58, trading well below the daily pivot point level of 110.29, having plunged over 200 points yesterday afternoon. We are now trading well below the daily Ichimoku cloud base at 110.43 and market movement has of yet not brought forth any significant upside retracement over the past 14 hours. Support levels today are set at 108.64 and then 107.58 ahead of the previous low of 107.22 made on 26th Novemeber 2007. A break here would set focus on the long term downside target at 105.70. Resistance levels today are set at 111.35 and then 112.98.

Published on Thu, Jan 3 2008, 08:36 GMT

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USD/JPY Daily Technical Forex

Wed, Jan 2 2008, 08:37 GMT
by Timothy Straiton

Current level at 09:37 CET is 111.61, trading above the 23.6 percent Fibonacci retracement level of 111.20, measured over the 124.15 - 107.22 range. Daily Bollinger bands are flat and contracting while standard error bands are poised to the downside and suggest further US$ weakness to come. A break of the previous low of 107.22 will put focus on 105.70 which is the Fibonacci 61.8 percent retracement level of the 79.78 - 147.62 range.

Published on Wed, Jan 2 2008, 08:37 GMT

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USD/JPY Daily Technical Forex

Mon, Dec 31 2007, 12:02 GMT
by Timothy Straiton

Current level at 12:59 CET is 112.14, trading below the daily pivot point level of 112.86, having bounced off first support at 111.71 earlier today. Hourly Bollinger and standard error bands remain poised to the downside. The daily picture suggests that the recent rally from 107.23 to 114.66 is over with the 38.2 percent Fibo retracement of this range now having been met at 111.78 this morning. The majority of daily momentum indicators are now poised to the downside and it seems likely that the Fibo 61.8 percent retracement level at 110.05 is likely to be reached in the near future.

Published on Mon, Dec 31 2007, 12:02 GMT

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USD/JPY Daily Technical Forex

Fri, Dec 28 2007, 09:35 GMT
by Timothy Straiton

Current level at 09:55 AM CET is 113.19, trading below the daily pivot point of 113.96. Hourly trend indicators favour the downside and present. Resistance levels today are set at 114.39 and 115.08. Support levels are set at 113.27 and 112.84. From a daily perspective, standard error bands are poised to the downside and suggest that for US Dollar - Japanese Yen a bearish trend is currently in place. Daily Bollinger bandwidth is contracting and suggests that this market is currently lacking direction. The 14 day RSI is now at 54.2 percent and thus not yet in overbought or oversold territory.

Published on Fri, Dec 28 2007, 09:35 GMT

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USD/JPY Daily Technical Forex

Thu, Dec 27 2007, 11:09 GMT
by Timothy Straiton

Current level at 12:09 CET is 114.36, trading above the daily pivot point level of 114.17. Both daily and hourly Bollinger and standard error bands are poised to the upside and the next significant resistance levels are at 115.70 and 117.70, being the Fibonacci 50 respectively 61.8 percent retracement levels of the entire 124.15 - 107.16 range. Resistance levels for today are set at 114.46 and then 114.67. Support levels are at 113.96 and then 113.67.

Published on Thu, Dec 27 2007, 11:09 GMT

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USD/JPY Daily Technical Forex

Fri, Dec 21 2007, 09:44 GMT
by Timothy Straiton

Current level at 10:45 CET is 113.35, trading above the daily pivot point level of 113.10 with trading activity within a close 45 pip range up to now. Support levels are set at 112.80 and 112.47 while resistance levels are at 113.43 and then 113.73. Daily Bollinger and standard error bands remain poised to the upside while Bollinger bands have started to contract, which reflects the current static market state. The upside move has stalled just short of the Fibo 38.2 percent retracement level at 113.70, measured over the 124.15 - 107.23 range. Should this level break, then the next upside target would be the 50 percent Fibo retracement of the same range which comes in at 115.70.

Published on Fri, Dec 21 2007, 09:44 GMT

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USD/JPY Daily Technical Forex

Thu, Dec 20 2007, 09:33 GMT
by Timothy Straiton

Current level at 10:32 CET is 112.98, trading below the daily pivot point level of 113.19 and having difficulty in making further upside advances. The next obstacle will be the 38.2 percent Fibo retracement level at 113.70, measured over the 107.23 - 124.15 range. We expect the recent upward correction to fade at current levels and to resume the bear trend. Our initial downside target remains 105.70 with overshooting to the 101 level not to be ruled out. Support levels today are set at 112.90 and then 112.42.

Published on Thu, Dec 20 2007, 09:33 GMT

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USD/JPY Daily Technical Forex

Wed, Dec 19 2007, 11:13 GMT
by Timothy Straiton

Current level at 12:12 CET is 113.04, trading below the daily pivot point level of 113.21, having stalled yesterday just short of the 38.2 percent Fibonacci retracement level at 113.70, measured over the 107.23 - 124.15 range. The chances are good that the current period of retracement is coming to an end and will allow the prevailing bear trend to unfold. Support levels today are noted at 112.88 and then 112.40. Resistance levels are at 113.69 and then 114.00. The falling 200 day moving average is now at 117.43. Our longer term downside target remains 105.70 with possible overshooting to the 101 region.

Published on Wed, Dec 19 2007, 11:13 GMT

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USD/JPY Daily Technical Forex

Tue, Dec 18 2007, 10:09 GMT
by Timothy Straiton

Current level at 11:08 CET is 113.38, trading above the daily pivot point level of 113.07 and targeting the 113.70 level which represents the 38.2 percent Fibo retracement level of the 124.15 - 107.22 range and also marks second support. Hourly trend indicators are poised to the upside as are hourly and daily Bollinger and standard error bands. Support levels today are set at 112.66 and then 112.43. A touch more to the upside is anticipated today.

Published on Tue, Dec 18 2007, 10:09 GMT

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USD/JPY Daily Technical Forex

Mon, Dec 17 2007, 09:42 GMT
by Timothy Straiton

Current level at 10:38 CET is 113.23, trading above the daily pivot point level of 113.04 and just short of the Fibonacci 38.2 percent retracement level of 113.70, measured over the 124.15 - 107.23 range. Daily Bollinger and standard error bands are currently poised to the upside and attempts to short this market should be delayed until there are more signs that demand has been satisfied. Resistance levels today are set at 113.83 and then 114.39. Support levels are at 112.48 and then 111.69.

Published on Mon, Dec 17 2007, 09:42 GMT

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USD/JPY Daily Technical Forex

Thu, Dec 13 2007, 10:39 GMT
by Timothy Straiton

Current level at 11:39 is 111.74, trading just below the daily pivot point level of 111.75, with hourly momentum readings a touch on the weak side. Support levels today are set at 111.04 and then 109.88. Resistance levels are 112.91 and then 113.62 with the 38.2 Fibo retracement of the 124.15 - 107.23 range coming in at 113.70. Daily Bollinger and standard error bands are poised only slightly to the upside and give the impression that this market is waiting for an excuse to re-instate the prevailing bear trend. The falling 200 day moving average is now at 117.49 and the falling 55 day moving average is at 113.10.

Published on Thu, Dec 13 2007, 10:39 GMT

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USD/JPY Daily Technical Forex

Wed, Dec 12 2007, 09:33 GMT
by Timothy Straiton

Current level at 10:32 CET is 111.17, trading above the daily pivot point level of 111.11, having made a 50 percent retracement of yesterdays violent move to the downside. Upside momentum both on the daily and hourly time frames appears less convincing and the current corrective phase in the overall bearish trend could soon evaporate. Resistance levels today are set at 111.74 and then 112.77. Support levels are at 110.08 and then 109.46. The longer term downside target is set at 105.70 which is the Fibonacci 61.8 percent retracement level of the 79.78 - 147.62 range.

Published on Wed, Dec 12 2007, 09:33 GMT

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USD/JPY Daily Technical Forex

Tue, Dec 11 2007, 09:19 GMT
by Timothy Straiton

Current level at 10:18 CET is 111.96, trading above the daily pivot point level of 111.67 and above first resistance at 111.89. Second resistance is at 112.10. Both daily and hourly Bollinger and standard error bands are poised to the upside and the next important upside target is the 38.2 percent Fibo retracement at 113.70, based on the 124.15 - 107.23 range. Support levels today are set at 111.46 and then 111.24. The falling 200 day moving average is currently at 117.57.

Published on Tue, Dec 11 2007, 09:19 GMT

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USD/JPY Daily Technical Forex

Fri, Dec 7 2007, 10:10 GMT
by Timothy Straiton

Current level at 11:09 CET is 111.47, trading above the daily pivot point level of 111.12 and about to close the gap at 111.62, which also coincides with first resistance today. A break above this level would put focus on second resistance at 111.95. Support levels today are at 111.79 and then 110.29. Daily Bollinger and standard error bands are gradually turning to the upside and indicate further JPY weakness. Further upside resistance is to be encountered at 113.80 which is the Fibo 61.8 percent retracement of the 117.93 - 107.23 range.

Published on Fri, Dec 7 2007, 10:10 GMT

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USD/JPY Daily Technical Forex

Thu, Dec 6 2007, 09:15 GMT
by Timothy Straiton

Despite the US$ strength seen in other major crosses, the USD/JPY has made a half-hearted attempt to participate in this move. This situation becomes evident if we look at the JPY stability against other major currencies. Daily Bollinger bands remain poised to the downside and bandwidth is contracting. The 14 day RSI is at 49 percent and thus the oversold status of this market has now been unwound. While attempts to close te gap at 111.62 remain possible, the falling long term moving averages suggest that the downside 61.8 percent Fibo target of 105.70, based on the 79.78 - 147.62 range will eventually be met. The current level of 110.74 at 10:15 CET is above the daily pivot point level of 110.53.

Published on Thu, Dec 6 2007, 09:15 GMT

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USD/JPY Daily Technical Forex

Tue, Dec 4 2007, 09:47 GMT
by Timothy Straiton

Current level at 10:45 CET is 109.97, trading below the daily pivot point of 110.54 and below first support at 110.07. The second support level today is at 109.66. Daily Bollinger bands are falling and contracting. The falling 200 day moving average is at 117.68. The falling 55 day moving average is at 113.59. The overall daily picture is negative. The previous oversold status in this market has been unwound and puts focus on the long-term 61.8 percent Fibo retracement level at 105.70, measured from the 79.78 - 147.62 range.

Published on Tue, Dec 4 2007, 09:47 GMT

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USD/JPY Daily Technical Forex

Mon, Dec 3 2007, 09:34 GMT
by Timothy Straiton

US$ strength seen against major currencies is not making itself so much apparent against the JPY. Current level at 10:33 CET is 110.40, trading below the daily pivot point of 110.71. Support levels today are set at 110.18 and then 109.13. Resistance levels are set at 111.76 and then 112.29. Despite the current unwinding of the oversold technical status in this currency pair, we still expect the 61.8 percent Fibo retracement level at 105.70 (measured from the 79.78 - 147.62 range) to be reached within the next 6 weeks.

Published on Mon, Dec 3 2007, 09:34 GMT

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USD/JPY Daily Technical Forex

Thu, Nov 29 2007, 09:00 GMT
by Timothy Straiton

Current level at 09:55 CET is 110.17, trading above the daily pivot point of 109.60. Resistance levels today are set at 110.92 and then 111.81. Support levels are at 108.70 and then 107.37. Hourly Bollinger and standard error bands are flat. Upside fantasy should subside at 111.62, the previous low which was ruptured on 9th November. The long term downside target remains 105.70 which is the 61.8 percent Fibonaccci retracement level of the 79.78 - 147.62 range. Nevertheless, bearing in mind the current massive undervaluation of the JPY against other majors, levels under 100 can not be excluded.

Published on Thu, Nov 29 2007, 09:00 GMT

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USD/JPY Daily Technical Forex

Wed, Nov 28 2007, 09:12 GMT
by Timothy Straiton

Current level at 10:12 CET is 108.96, trading above the daily pivot point level of 108.44 with an engulfing bull candlestick having been formed on yesterdays daily chart. Resistance levels today are set at 109.58 and then 110.30. Support levels are at 107.72 and then 106.58. Daily Bollinger and standard error bands are still poised to the downside but downside pressure is easing off in sync with the general US$ recovery. Based on the 117.95 - 107.22 range, the first significant Fibo retracement level is marked at 111.30 (38.2 percent). The longer-term downside objective of 105.70 (61.8 percent Fibo retracement of the 79.78-147.62 range) will probably nevertheless be achieved in the not too distant future.

Published on Wed, Nov 28 2007, 09:12 GMT

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USD/JPY Daily Technical Forex

Tue, Nov 27 2007, 09:10 GMT
by Timothy Straiton

Current level at 10:08 CET is 108.29, trading above the daily pivot point level of 107.79, having traded as low as 107.22 in late NY business. The downside target for this market is the Fibonacci 61.8 percent retracement level at 105.70, measured from the 79.78 - 147.62 range. However, faltering downside momentum readings suggest that a corrective phase to the upside may well manifest itself before this target is reached. Resistance levels today are set at 108.36 and then 109.33. Support levels today are at 106.82 and then 106.25.

Published on Tue, Nov 27 2007, 09:10 GMT

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USD/JPY Daily Technical Forex

Mon, Nov 26 2007, 08:35 GMT
by Timothy Straiton

While the daily outlook remains negative with Bollinger and standard error bands poised to the downside, todays activity has remained above the daily pivot point of 108.14 as of 09:35 CET. Resistance levels to watch today are at 108.75 and then 109.20. Support levels are at 107.69 and then 107.09. The 14 day RSI is at 31 percent. Daily readings above 34 percent would reveal bullish divergence and put focus on the upside.

Published on Mon, Nov 26 2007, 08:35 GMT

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USD/JPY Daily Technical Forex

Fri, Nov 23 2007, 12:00 GMT
by Timothy Straiton

Current level at 12:59 CET is 107.89, trading below the daily pivot point level of 108.67 and now finding a temporary base around second support at 107.80. The daily picture remains bearish with Bollinger and standard error bands poised to the downside with Bollinger bandwidth expanding. The 61.8 percent Fibonacci retracement level based on the 79.78 - 147.62 range comes in at 105.70. Overshooting from here will find additional support at the December 1999 lows of 101.30.

Published on Fri, Nov 23 2007, 12:00 GMT

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USD/JPY Daily Technical Forex

Thu, Nov 22 2007, 11:29 GMT
by Timothy Straiton

Current level at 09:25 CET is 108.82, trading just shy of the daily pivot point level of 108.91 with hourly Bollinger and standard error bands poised to the upside. Yesterdays low was 108.26 and support levels today are set at 108.00 and then 107.35. Further support is seen at 106.80 being the 38.2 Fibo projection target of the 124.15 - 111.62 range. While the daily picture remains bearish with Bollinger and standard error bands poised to the downside, the 14 day RSI is now at 30 percent. A reading above 40 percent would suggest bullish divergence and at the same time an early warning of recovery. Resistance levels today are set at 109.56 and then 110.46.

Published on Thu, Nov 22 2007, 11:29 GMT

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USD/JPY Daily Technical Forex

Tue, Nov 20 2007, 09:16 GMT
by Timothy Straiton

Despite new lows in the US dollar against the majority of currencies, the USD/JPY has defied gravity. Current level at 09:58 CET is 110.17, trading above the daily pivot point of 110.14, but shy of first resistance at 110.66. Further out, the daily picture remains negative, with daily Bollinger and standard error bands poised clearly to the downside. Downside targets remain 105.40, being the 61.8 percent Fibo retracement level of the entire 79.78 - 147.62 range. Additional support is expected at 101.30, the low of December 1999.

Published on Tue, Nov 20 2007, 09:16 GMT

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USD/JPY Daily Technical Forex

Fri, Nov 2 2007, 09:27 GMT
by Timothy Straiton

Current level at 10:27 CET is 114.76, trading below the daily pivot point of 114.98, having been rejected by the daily Ichimoku cloud base currently at 114.93. On an hourly basis this market remains on the defensive, attempting to regain composure after yesterdays violent sell-off. The 23.6 percent Fibo retracement level at 114.60, measured from the 111.62 - 124.15 range seems to offer support at present. Resistance levels today are set at 115.47 and then 116.41. Support levels are 114.04 and then 113.54.

Published on Fri, Nov 2 2007, 09:27 GMT

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USD/JPY Daily Technical Forex

Thu, Nov 1 2007, 08:49 GMT
by Timothy Straiton

Current level at 09:47 CET is 115.66, trading above the daily pivot point of 115.11 and focussing on resistance levels at 115.68 and 116.08 ahead of the 38.2 Fibo retracement level of 116.40, measured from the 111.62 - 124.15 range. Hourly Bollinger and standard error bands are poised to the upside while the daily MACD is about to break above the zero line. Support levels today are set at 114.71 and then 114.14. This market is in the process of eating its way up through the daily Ichimoku cloud, the top of which lies now at 117.02.

Published on Thu, Nov 1 2007, 08:49 GMT

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USD/JPY Daily Technical Forex

Wed, Oct 31 2007, 10:28 GMT
by Timothy Straiton

Current level at 11:27 CET is 115.14, trading above the daily pivot point level of 114.70, having broken above first resistance at 114.98 and targeting second resistance at 115.34. Overall short-term picture remains constructive with 50 and 100 hour EMA s poised to the upside. Our hourly trend intenstiy index suggests the path of least resistance is to the upside right now. We are currently above the daily Ichimoku cloud base at 115.02. Further upside targets are the 38.2 percent Fibo retracement at 116.40 and the 50 percent retracement at 117.85, measured over the 111.62 -124.15 range. Support levels today are set at 114.38 and then 114.07.

Published on Wed, Oct 31 2007, 10:28 GMT

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USD/JPY Daily Technical Forex

Mon, Oct 29 2007, 08:43 GMT
by Timothy Straiton

Current level at 09:40 CET is 114.13, trading below the daily pivot point level of 114.26 in a narrow 25 pip range throughout Asian trading. Support levels today are to be encountered at 113.95 and 113.67. Resistance is at 114.54 and then 114.85, ahead of the daily Ichimoku cloud base at 114.97. Daily Bollinger and standard error bands are poised to the downside, while the falling 200 day moving average is currently at 118.92.

Published on Mon, Oct 29 2007, 08:43 GMT

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USD/JPY Daily Technical Forex

Mon, Sep 24 2007, 07:46 GMT
by Timothy Straiton

Current level at 09:46 CET is 114.84, trading below the daily pivot point level of 115.27 with hourly Bollinger and standard error bands poised to the downside and daily values still flat. Support levels today are set at 114.69 and then 113.91. The 38.2 percent Fibo retracement level at 116.40 has been able to cap escapades to the upside on a number of occasions during the past 4 weeks and a sustained move to the downside in sync with the generally offered US Dollar may not be so far away. Further Fibo retracement level to watch, based on the 101.70 - 124.15 range are the 61.8 level at 110.35 and the 76.4 percent level at 107.00.

Published on Mon, Sep 24 2007, 07:46 GMT

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USD/JPY Daily Technical Forex

Fri, Sep 21 2007, 07:46 GMT
by Timothy Straiton

Current level at 09.45 CET is 115.06, trading above the daily pivot point level of 114.92 with the daily Bollinger and standard error bands flat and indicating trendless activity. The daily Ichimoku cloud is in free fall, with the base now at 116.42 and top at 117.88. Resistance levels today are set at 115.89 and then 117.03. Support levels are at 113.78 and then 112.82. Short-term momentum indicators suggest the upside is favoured at time of writing.

Published on Fri, Sep 21 2007, 07:46 GMT

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USD/JPY Daily Technical Forex

Thu, Sep 20 2007, 08:30 GMT
by Timothy Straiton

Current level at 10:30 CET is 115.44, having yesterday reached the Fibo 38.2 percent retracement level of 116.40, measured from the 111.62 - 124.15 range. Activity today remains in sync with the general negative US tendency. This market bounced off second support at 115.29 but remains below the daily pivot point level of 116.00. Hourly Bollinger and standard error bands remain poised to the downside, while daily values remain flat. Given the current lack of direction, this market could well continue to trade within the 114.60 - 116.40 range.

Published on Thu, Sep 20 2007, 08:30 GMT

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USD/JPY Daily Technical Forex

Wed, Sep 19 2007, 07:49 GMT
by Timothy Straiton

Current level at 09:50 CET is 115.78, trading just above the daily pivot point level of 115.69, on track for the 38.2 percent Fibo retracement level of 116.40, measured from the 111.62 - 124.15 range. Daily Bollinger and standard error bands are now lightly poised to the upside and reflect the gradual evaporation of bearish sentiment in this currency pair. Resistance levels today are set at 116.59 and then 117.27. Support levels are at 115.01 and then 114.11.

Published on Wed, Sep 19 2007, 07:49 GMT

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USD/JPY Daily Technical Forex

Tue, Sep 18 2007, 07:26 GMT
by Timothy Straiton

Current level at 09:25 CET is 114.89, trading below the daily pivot point level of 115.02, but above first support at 114.67. Daily Bollinger and standard error bands are flat and narrow, giving no hint of where we go from here. A possible upside target is the 38.2 percent Fibo retracement level at 116.40, measured from the 111.62 -124.15 range. Resistance today is set at 115.43 and then 115.77. Second support is at 114.27.

Published on Tue, Sep 18 2007, 07:26 GMT

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USD/JPY Daily Technical Forex

Mon, Sep 17 2007, 08:58 GMT
by Timothy Straiton

Current level at 10:58 CET is 114.89, trading below the daily pivot point level of 115.03 but above the 23.6 percent Fibo retracement level of 114.65, measured from the 111.62 - 124.15 range. Daily Bollinger and standard error bands are flat and contracted, which reflects the lack of direction displayed in this market at present. Support levels today are set at 114.66 and then 114.00. Resistance levels are at 115.69 and then 116.06, ahead of the 38.2 percent Fibo retracement level of 116.40 which remains a viable target in the short term.

Published on Mon, Sep 17 2007, 08:58 GMT

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USD/JPY Daily Technical Forex

Fri, Sep 14 2007, 10:19 GMT
by Timothy Straiton

Current level at 12:19 CET is 114.97, trading above the daily pivot point level of 114.78 and now managing to sit comfortably above the 23.6 percent Fibo retracement level at 114.60, measured from the 111.62. 124.15 range. Support levels today are set at 114.07 and 113.42, resistance levels are at 115.44 and 116.15. The 116.40 level marks the 38.2 percent Fibo retracement of the above-mentioned range and remains a realistic upside target in an otherwise trendless market.

Published on Fri, Sep 14 2007, 10:19 GMT

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USD/JPY Daily Technical Forex

Thu, Sep 13 2007, 08:18 GMT
by Timothy Straiton

Current level at 10:17 CET is 114.53 trading above the daily pivot point level of 114.12 and also above first resistance at 114.45 with hourly Bollinger and standard error bands poised slightly to the upside. Daily Bollinger and standard error bands are now both flat and contracting reflecting the lack of direction in this market at the present time. Second resistance level is set at 114.71, while support levels are at 113.86 amd 113.53. The 14 day RSI is now at 41 percent and thus the oversold situation seen during the middle of August has now been unwound. With EURJPY approaching heavy resistance at 159.70, the upside in USDJPY will probably be limited.

Published on Thu, Sep 13 2007, 08:18 GMT

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USD/JPY Daily Technical Forex

Tue, Sep 11 2007, 07:26 GMT
by Timothy Straiton

Current level at 09:25 CET is 113.55, having traded above the daily pivot point level of 113.42 throughout most of the Asian session. Hourly Bollinger and standard error bands are flat. Support levels today are set at 112.83 and then 111.97. Resistance levels are at 114.27 and then 114.86. The daily picture remains negative with Bollinger and standard error bands poised to the downside. Further downside objectives are to be encountered at 110.35 and 107.00, which are the 61.8 and 76.4 percent Fibo retracement levels of the 101.70 -124.15 range.

Published on Tue, Sep 11 2007, 07:26 GMT

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USD/JPY Daily Technical Forex

Fri, Sep 7 2007, 08:19 GMT
by Timothy Straiton

Current level at 10:18 CET is 115.13, trading below the daily pivot point of 115.22, having bounced off first support this morning at 114.88. This currency pair has established a trading range between the 38.2 percent and 23.6 percent Fibo retracement levels of 116.40 and 114.60, measured from the 111.62 - 124.15 range. Daily Bollinger bands are still contracting and poised to the downside while standard error bands are flat. Resistance levels today are set at 115.68 and then 116.01.

Published on Fri, Sep 7 2007, 08:19 GMT

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USD/JPY Daily Technical Forex

Thu, Sep 6 2007, 07:54 GMT
by Timothy Straiton

Current level at 09:53 CET is 115.41, trading below the daily pivot point level of 115.56 but having negated yesterdays bear move which started in early Asian trade yesterday at 116.47 and reached a low 24 hours later at 114.81. Daily standard error bands are poised to the upside while Bollinger bands are still contracting. Support levels today are set at 114.64 and then 114.03. Resistance levels are at 116.16 and then 117.08. The 38.2 percent Fibo retracement level at 116.40 has capped the upside of this market on numerous occasions recently, therefore we would like to see this level acting as support before we assume more fantasy to the upside.

Published on Thu, Sep 6 2007, 07:54 GMT

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USD/JPY Daily Technical Forex

Wed, Sep 5 2007, 06:33 GMT
by Timothy Straiton

Current level at 08:33 is 115.70, trading below the daily pivot point level of 116.00, with daily Bollinger bands contracting and standard error bands poised to the upside. This currency pair seems to fail on the upside at the 38.2 percent Fibo retracement level of 116.40, measured from the 124.15 - 111.62 range. Daily MACD is poised to the upside without accompanying upside price movement, which suggests a re-instatement of the downside move lies ahead. Support levels today are set at 115.57 and then 114.87. Resistance levels are at 116.70 and 117.13.

Published on Wed, Sep 5 2007, 06:33 GMT

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USD/JPY Daily Technical Forex

Mon, Sep 3 2007, 08:47 GMT
by Timothy Straiton

Current level at 10:45 CET is 115.95 trading just above the daily pivot point level of 115.93, with hourly standard error bands poised to the upside and Bollinger bands contracting. The downside panic seen over the past few weeks seems to be receding and the market is regaining composure just above the 38.2 Fibo retracement level of the 101.70 - 124.15 range at 115.60. Support levels today are set at 115.26 and then 114.77. Resistance levels are 116.42 and then 117.10. Daily MACD is now poised to the upside and suggests a probe to higher levels most likely.

Published on Mon, Sep 3 2007, 08:47 GMT

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USD/JPY Daily Technical Forex

Fri, Aug 31 2007, 09:05 GMT
by Timothy Straiton

Current level at 11:04 CET is 116.27, trading above the daily pivot point level of 115.75 with the daily MACD now turning positive and hourly Bollinger and standard error bands poised to the upside. Resistance levels today are set at 116.32 and then 116.82, while support lies at 115.25 and then 114.68. This currency pair seems to have found comfort oscillating between the Fib 23.6 and 38.2 retracement levels of 114.60 and 116.40, measured from the 111.62 - 124.15 range. The 200 day moving average is now flat at 119.57.

Published on Fri, Aug 31 2007, 09:05 GMT

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USD/JPY Daily Technical Forex

Wed, Aug 29 2007, 08:20 GMT
by Timothy Straiton

Current level at 10:20 CET is 114.53, trading below the daily pivot point level of 114.76 with hourly Bollinger bands contracting and suggesting a period of consolidation emerging. The daily picture remains bearish with Bollinger and standard error bands poised to the downside. Based on the 101.70 - 124.15 range, the following Fib retracement levels should be noted as landmarks for moves to come. The 50 percent retracement is at 112.90, the 61.8 percent retracement is at 110.35 and the 38.2 percent retracement is at 115.60. We have now been trading for 15 consecutive days below the 200 day moving average which is at 119.48 and falling. These facts suggest that more downside lies ahead.

Published on Wed, Aug 29 2007, 08:20 GMT

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USD/JPY Daily Technical Forex

Tue, Aug 28 2007, 08:25 GMT
by Timothy Straiton

Current level at 10:25 CET is 115.51, trading well under the daily pivot point level of 116.14 and also beneath first support at 115.53, with second support close at 115.21. Both Daily and hourly Bollinger and standard error bands are still poised slightly to the downside while the oversold situation on the daily charts has been now unwound. The 38.2 Fibo retracement level of the 111.62 - 124.15 range which is at 116.40, seems to have capped the upside and the 23.6 percent level at 114.60 would be the next downside objective.

Published on Tue, Aug 28 2007, 08:25 GMT

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USD/JPY Daily Technical Forex

Mon, Aug 27 2007, 09:36 GMT
by Timothy Straiton

Current level at 11:35 CET is 116.23, trading just above the daily pivot point of 116.13, with first resistance today at 116.76, followed by second resistance at 117.12. The market has come to rest around the 38.2 Fibo retracement level of 116.40, measured from the 111.62 - 124.15 range. Daily Bollinger bands are contracting while daily standard error bands are almost flat. Support levels today are 115.77 and 115.14.

Published on Mon, Aug 27 2007, 09:36 GMT

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USD/JPY Daily Technical Forex

Thu, Aug 23 2007, 08:36 GMT
by Timothy Straiton

Current level at 10:35 CET is 115.92, trading well above the daily pivot point of 114.91 with hourly Bollinger and standard error bands poised to the upside. We are trading above first resistance today at 115.87 and the next upside target is second resistance at 116.40, which coincides with the 38.2 Fibo retracement of the 111.62 - 124.15 range. The daily outlook nevertheless is negative with Bollinger and standard error bands poised to the downside and the oversold status of the past week gradually unwinding.

Published on Thu, Aug 23 2007, 08:36 GMT

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USD/JPY Daily Technical Forex

Wed, Aug 22 2007, 08:16 GMT
by Timothy Straiton

Current level at 10:15 CET is 114.84, trading above the daily pivot point level of 114.55. Resistance levels today are at 115.11 and 115.79. Support is set at 113.86 and then 113.30. Hourly standard error bands are poised to the upside. On a daily basis we are trading inside the lower Bollinger band for the third consecutive day and the bands have ceased to expand. This suggests that the recent bout of nervousness is receding and a period of consolidation is taking over. Based on the 111.62-124.15 range, the next important Fibo resistance target would be the 38.2 percent retracement at 116.40.

Published on Wed, Aug 22 2007, 08:16 GMT

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USD/JPY Daily Technical Forex

Tue, Aug 21 2007, 07:35 GMT
by Timothy Straiton

Current level at 09:35 CET is 114.29, trading below the daily pivot point of 114.66 in a directionless state. Support levels today are set at 113.84 and then 112.83. Resistance levels are 115.68 and then 116.51. Hourly momentum readings favour the downside at present. Daily Bollinger and standard error bands are also still poised to the downside.

Published on Tue, Aug 21 2007, 07:35 GMT

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USD/JPY Daily Technical Forex

Mon, Aug 20 2007, 08:23 GMT
by Timothy Straiton

Current level at 10:22 CET is 115.36, trading above the daily pivot point level of 113.64, after having seen a low of 111.60 on Friday. Hourly Bollinger and standard error bands are now poised to the upside. We are now focussing on the 101.70 - 124.15 range from which we note the following Fib retracement levels: 61.8 percent at 111.62, which we touched of Friday, 50 percent at 114.00 and then 38.2 percent at 116.40, which may well signal the end target of the current upside retracement.

Published on Mon, Aug 20 2007, 08:23 GMT

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USD/JPY Daily Technical Forex

Thu, Aug 16 2007, 08:15 GMT
by Timothy Straiton

Current level at 10:15 CET is 115.97, trading under the daily pivot point level of 116.73, having hit a low of 115.70 in late Asian trading and thus under the rising trendline support from the Jan 2005 low of 101.70 which comes in at 115.77. We are approaching interesting levels now. A break of the previous low of 115.16 will target the 161.8 percent Fibo projection target of the 115.16 -124.15 range which is at 109.60.

Published on Thu, Aug 16 2007, 08:15 GMT

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USD/JPY Daily Technical Forex

Wed, Aug 15 2007, 08:33 GMT
by Timothy Straiton

Current level at 10:32 CET is 116.97, trading around second support at 116.91. First support today is at 117.24, which coincides with the 76.4 Fibo retracement of the 115.11 - 124.15 range and could well be revisited today. The pivot point today is set at 117.88, with first resistance at 118.21 and second resistance at 118.85. Looking further out, the 40 week moving average currently at 119.66, has started to fall. The rising trendline support from the Jan 2005 low of 101.70 is now at 115.856. The Fibo 38.2 retracement level of the 101.70 - 124.15 range is at 115.55.

Published on Wed, Aug 15 2007, 08:33 GMT

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USD/JPY Daily Technical Forex

Tue, Aug 14 2007, 09:18 GMT
by Timothy Straiton

Current level at 11:16 CET is 118.28 , trading above the daily pivot point at 118.14, having seen a low today at 117.77. The daily picture is one of consolidation with contracting Bollinger bands and downside moves making less and less headway. The upside appears to be offering the least resistance at present. Resistance levels are to be encountered at 118.59 and thereafter 119.02. Support levels are at 117.71 and then 117.26. A further support level worth watching is the rising trendline from the Jan 2005 low of 101.80 which is now at 115.79.

Published on Tue, Aug 14 2007, 09:18 GMT

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USD/JPY Daily Technical Forex

Mon, Aug 13 2007, 08:00 GMT
by Timothy Straiton

Current level at 00:00 CET is 118.33, trading above the daily pivot point level of 118.12 with hourly indicators poised slightly to the upside. Although the daily Bollinger and standard error bands are still poised to the downside, this market is having difficulty generating any further downside thrust right now. Support levels to watch today are at 117.48 and then 116.58. Resistance levels are set at 119.02 and thereafter at 119.65.

Published on Mon, Aug 13 2007, 08:00 GMT

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USD/JPY Daily Technical Forex

Fri, Aug 10 2007, 09:14 GMT
by Timothy Straiton

Current level at 11:13 is 118.12, trading under the daily pivot point level of 118.68 and above first support at 117.58. Daily Bollinger and standard error bands are poised to the downside, while hourly reading are flat and suggesting a period of consolidation or possible upside retracement. Important levels on the downside remain the rising trendline support line from the January 2005 low of 101.70 which is now situated at 115.75. A break here will put the focus on the 50 percent Fibo retracement level at 112.90 and the 61.8 percent level at 110.30, measured from the 101.70 - 124.15 range. Upside resistance levels for today are 119.24 and then 120.33.

Published on Fri, Aug 10 2007, 09:14 GMT

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USD/JPY Daily Technical Forex

Thu, Aug 9 2007, 08:59 GMT
by Timothy Straiton

Current level at 10:58 is 119.01, trading under the daily pivot point level of 119.36 and now resting on first support at 118.97. Daily Bollinger and standard error bands are still poised to the downside, while Bollinger bandwidth is now starting to contract, which suggests a period of consolidation now likely. Attempts to the upside will meet with resistance at 120.07 and then 120.50. Second support is at 118.32. Rising trendline support from the Jan 2005 low of 101.70 comes in today at 115.72.

Published on Thu, Aug 9 2007, 08:59 GMT

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USD/JPY Daily Technical Forex

Wed, Aug 8 2007, 06:42 GMT
by Timothy Straiton

Current level at 08:44 is 119.05, trading above the daily pivot point level of 118.56 with hourly Bollinger and standard error bands poised to the upside. Resistance levels today are set at 119.19 and then 119.58. Support levels are 118.17 and then 117.54. This currency pair is in the process of stamping out a base, having targetted all the important Fibo retracement targets in the last ten days. The 14 day RSI falling trendline has also been broken and the overall picture favours a recovery from here.

Published on Wed, Aug 8 2007, 06:42 GMT

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USD/JPY Daily Technical Forex

Tue, Aug 7 2007, 08:17 GMT
by Timothy Straiton

Current level at 10:19 CET is 118.73, trading above the daily pivot point level of 118.45 and now oscillating around the 61.8 Fibo retracement level of the 115.16 - 124.15 range at 118.60. Resistance levels today are set at 119.52 and 120.17. Support levels are 117.81 and 116.73. Daily Bollinger and standard error bands, although still poised to the downside, are losing downside thrust to some extent and thus recovery attempts could be expected from here.

Published on Tue, Aug 7 2007, 08:17 GMT

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USD/JPY Daily Technical Forex

Mon, Aug 6 2007, 08:10 GMT
by Timothy Straiton

Current level at 10:14 CET is 117.67, trading under the daily pivot point of 118.42 and having gapped lower to 117.19 in initial Asian trade. The daily picture remains on the defensive in spite of the market squatting in oversold territory with Bollinger and standard error bands poised to the downside. Focus remains on the 50 percent Fibo retracement level at 116.60 and the 61.8 percent level at 114.75, measured from the 108.98 - 124.15 range. Intra-day support levels are to be found at 117.53 and 117.05, while resistance levels are at 118.90 and 119.79.

Published on Mon, Aug 6 2007, 08:10 GMT

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USD/JPY Daily Technical Forex

Fri, Aug 3 2007, 07:34 GMT
by Timothy Straiton

Current level at 09:37 CET is 119.21, trading above the daily pivot point level of 118.96 and in the process of unwinding the oversold state which had developed over the past week. Daily Bollinger and standard error bands are still poised to the downside, although the Bollinger bands are now contracting which suggests a period of consolidation most probable. Resistance levels today are set at 119.57 and then 120.00. Support levels are at 118.54 and 117.92.

Published on Fri, Aug 3 2007, 07:34 GMT

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USD/JPY Daily Technical Forex

Thu, Aug 2 2007, 08:23 GMT
by Timothy Straiton

Current level at 10:25 CET is 118.78, trading above the daily pivot point of 118.49, having almost reached the 76.4 Fibo retracement level of the 115.16 - 124.15 range at 117.30 yesterday (low was 117.60). The rising trendline support from the May 2006 low of 108.98, currently at 118.45 has been ruptured on the last five consecutive daily sessions without the market being able to close below it. The four last consecutive closes have been above the daily Bollinger lower band. The 14 day RSI, having visited 25 percent 4 days ago is now at 31 percent. These three observations suggest that the downside potential has been exhausted for the time being. Resistance levels today are set at 119.37 and thereafter at 119.88. Support levels are at 117.98 and 117.10.

Published on Thu, Aug 2 2007, 08:23 GMT

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USD/JPY Daily Technical Forex

Tue, Jul 31 2007, 08:53 GMT
by Timothy Straiton

Current level at 10:56 CET is 119.23, trading above the daily pivot point of 118.73. We have not been able to close under the 61.8 Fibo retracement level at 118.60 on a daily basis and with the 14 day RSI having hit 25 percent on Friday, the chances are good for a recovery towards first resistance at 119.47 and thereafter at 119.90. Hourly Bollinger and standard error bands are poised to the upside. Support levels today are set at 118.29 and then 117.55.

Published on Tue, Jul 31 2007, 08:53 GMT

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USD/JPY Daily Technical Forex

Mon, Jul 30 2007, 08:49 GMT
by Timothy Straiton

Current level at 10:52 CET is 118.89, trading above the daily pivot point of 118.60 with the 14 day RSI in oversold terrritory at 28 percent. Initial resistance today comes in at 119.23 followed by 119.91. Support levels are set at 117.93 and then 117.23. Hourly momentum readings favour the upside at present although the daily outlook remains defensive with standard error bands poised to the downside and Bollinger bands still expanding.

Published on Mon, Jul 30 2007, 08:49 GMT

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USD/JPY Daily Technical Forex

Fri, Jul 27 2007, 09:11 GMT
by Timothy Straiton

Current level at 11:13 CET is 119.15, having reached the 61.8 percent Fibo retracement target at 118.65 sooner than we had anticipated. The 14 day RSI is well into oversold territory at 26 percent, so a correction to the upside was inevitable. We are trading above the daily pivot point of 119.03 and resistance levels today are set at 120.04 and then 121.74. The rising trendline support from the May 2006 low of 108.99 which comes in at 118.30 was briefly perforated yesterday. Under this lies the 76.4 percent Fibo retracement level from the 115.16 - 124.15 range at 117.30.

Published on Fri, Jul 27 2007, 09:11 GMT

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USD/JPY Daily Technical Forex

Thu, Jul 26 2007, 08:24 GMT
by Timothy Straiton

Current level at 10:26 CET is 120.36, challenging the daily pivot point level at 120.30. The daily picture remains negative with Bollinger and standard error bands poised to the downside while Bollinger bandwidth is expanding. Our downside target remains 118.65 which marks both the 61.8 Fibo retracement of the 115.16 - 124.15 range and also coincides with the rising trendline support from the May 2006 low of 108.99. Given the rather oversold state of this market at present, we cannot exclude retracements to the upside which should be used to establish short positions. Resistance levels today are set at 120.80 and then 121.14. Support levels are 119.96 and then 119.47.

Published on Thu, Jul 26 2007, 08:24 GMT

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USD/JPY Daily Technical Forex

Wed, Jul 25 2007, 08:03 GMT
by Timothy Straiton

Current level at 10:05 CET is 120.18, having seen a low of 119.82 in Asian trade and thus almost reaching the 50 percent Fibo retracement level of 119.65, measured from the 115.16 - 124.15 range. The daily pivot point is set at 120.37 with first support at 119.76 and second support at 119.38. Resistance levels are 120.76 and 121.37. The 14 day RSI is now at 31 percent and thus gradually running into oversold territory, although daily Bollinger and standard error bands stiill point clearly to the downside. The downside target for the current move is at 118.60, being the 61.8 percent Fibo Retracement of the aforementioned range.

Published on Wed, Jul 25 2007, 08:03 GMT

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USD/JPY Daily Technical Forex

Tue, Jul 24 2007, 07:47 GMT
by Timothy Straiton

Current level at 09:49 CET is 120.57, trading below first support at 120.70, above second support at 120.31 and under the Daily Ichimoku cloud base at 120.68. Both daily and hourly Bollinger and standard error bands remain poised to the downside and focus passes now to the 50 percent Fibo retracement of the 115.16 - 124.15 move which lies at 119.65. The daily pivot point is at 121.16 with resistance at 121.55 and then 122.01.

Published on Tue, Jul 24 2007, 07:47 GMT

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USD/JPY Daily Technical Forex

Mon, Jul 23 2007, 06:44 GMT
by Timothy Straiton

Current level at 08:45 CET is 121.03, having almost reached the 38.2 percent Fibo retracement level of 120.70 and now trading between first support at 120.63 and the daily pivot point at 121.53. While daily Bollinger and standard errror bands remain poised to the downside, the 14 day RSI is now at 37 percent and together the stochastic indicator, is moving gradually into oversold territory. Hourly momentum indicators suggest that the downside force is now exhausted.

Published on Mon, Jul 23 2007, 06:44 GMT

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USD/JPY Daily Technical Forex

Fri, Jul 20 2007, 10:42 GMT
by Timothy Straiton

Current level at 09:30 CET is 122.25, trading above the daily pivot point level of 121.96 and first resistance at 122.20. The inclination of hourly standard error bands , Bollinger bands and MACD suggest the upside remains favoured, targeting second resistance at 122.42. Support levels today are seen at 121.74 and then 121.50. Daily Bollinger bands are contracting and thus suggest a continuation of the current period of consolidation in this currency pair.

Published on Fri, Jul 20 2007, 10:42 GMT

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USD/JPY Daily Technical Forex

Thu, Jul 19 2007, 08:33 GMT
by Timothy Straiton

Current level at 10:35 is 121.91, trading on the daily pivot point level, with both daily and hourly momentum indicators poised to the downside. This market is hovering above the daily Ichimoku cloud top at 121.63, tracing out lower highs since last Friday. Our initial downside target remains 120.70 which is the 38.2 percent Fibo retracement of the 115.16 - 124.15 range. Support levels today are seen at 121.53 and then 121.15. Resistance is set at 122.31 and then 122.71.

Published on Thu, Jul 19 2007, 08:33 GMT

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USD/JPY Daily Technical Forex

Wed, Jul 18 2007, 08:18 GMT
by Timothy Straiton

Current level at 10:20 CET is 121.91, trading below the daily pivot point level of 122.12 and above first support at 121.85. Hourly momentum readings suggest that the current short-term downside move is more or less exhausted, although the daily picture remains negative. Second support today is set at 121.37. Our downside target remains 120.70 which is the 38.2 Fibo retracement level of the 115.16 - 124.15 range. Resistance levels today are set at 122.61 and then 122.89.

Published on Wed, Jul 18 2007, 08:18 GMT

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USD/JPY Daily Technical Forex

Tue, Jul 17 2007, 08:19 GMT
by Timothy Straiton

Current level at 10:22 CET is 121.83, trading just under the daily pivot point of 121.85, with daily momentum indicators poised to the downside in sync with the general negative trend for the US dollar. Support levels today are set at 121.54 and 121.20 ahead of the 38.2 Fibo retracement level of 120.70, measured from the 115.16 - 124.15 range. To the upside, resistance is expected at 122.20 and 122.50. Hourly momentum indicators are poised flat to negative.

Published on Tue, Jul 17 2007, 08:19 GMT

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USD/JPY Daily Technical Forex

Fri, Jul 13 2007, 07:38 GMT
by Timothy Straiton

Current level at 09:39 CET is 122.40, having re-conquered the support level of 122.19 and now trading above the daily pivot point level of 122.27. Daily Bollinger and standard error bands are poised to the downside, while hourly momentum readings are supportive to flat. The lack of follow through on the break of support at 122.19 suggests that further short-term upside potential is at hand which could reach resistance at 123.02. Nevertheless, we remain sceptical with regard to the upside potential in this market at the present time.

Published on Fri, Jul 13 2007, 07:38 GMT

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USD/JPY Daily Technical Forex

Thu, Jul 12 2007, 07:48 GMT
by Timothy Straiton

Current level at 09:50 CET is 122.06, trading above the daily pivot point of 121.97. First support is at 121.41, followed by the 38.2 percent Fibo retracement at 120.70, measured from the 115.16 - 124.15 range. Resistance is to be expected at 123.00 and then 123.5, should the 122.19 level give way. Daily indicators paint a somewhat bearish picture in spite of vicious intra day swings, which we interpret and as a gradual termination of this impressive bull run.

Published on Thu, Jul 12 2007, 07:48 GMT

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USD/JPY Daily Technical Forex

Wed, Jul 11 2007, 08:34 GMT
by Timothy Straiton

Current level at 10:05 CET is 121.31, trading below the daily pivot point of 122.30, having broken support at 122.19, and now on track for the 38.2 Fibo retracement of the 115.16 - 124.15 range which is at 120.70. We are now just above the daily Ichimoku cloud top which is at 121.15 and this level may initially ward off attacks to the downside. Daily momentum readings, however paint a rather bearish picture and we would expect downward pressure to dominate in the weeks ahead with focus on Fibo 61.8 retracement at 118.60.

Published on Wed, Jul 11 2007, 08:34 GMT

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USD/JPY Daily Technical Forex

Tue, Jul 10 2007, 07:14 GMT
by Timothy Straiton

Current level at 09:15 CET is 123.23, trading below the daily pivot point level of 123.41, with daily Bollinger bandwidth closing in and standard error bands poised flat. Support levels today are set at 123.16 and 122.97. Resistance levels are at 123.61 and then 123.85. This market has so far defended important support at 122.19 and unless this can be broken, further attempts to the upside cannot be ruled out.

Published on Tue, Jul 10 2007, 07:14 GMT

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USD/JPY Daily Technical Forex

Mon, Jul 9 2007, 07:15 GMT
by Timothy Straiton

Current level at 09:16 CET is 123.54, trading well above the daily pivot point of 123.24 and tackling with first resistance at 123.65 while hourly momentum readings are topping out. Further resistance levels are at 123.85 and 123.96. Suport levels are set at 122.92 and 122.52. Daily Bollinger bands are narrowing while daily standard error bands are poised to the downside. Important levels to the downside remain 122.19 and then rising trendline support from the March low of 115.16 which comes in now at 121.70.

Published on Mon, Jul 9 2007, 07:15 GMT

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USD/JPY Daily Technical Forex

Fri, Jul 6 2007, 07:19 GMT
by Timothy Straiton

Current level at 09:20 CET is 123.19, having overcome first resistance at 123.17 to trade as high as 123.30 and just short of second resistance at 123.43. Cast iron support at 122.19 and rising hourly Bollinger and standard error bands suggest the upside will be slightly favoured today. A clear break through the 23.6 percent Fibo projection target at 123.85 would open the way to 124.85. Support levels today are set at 122.49 and then 122.19.

Published on Fri, Jul 6 2007, 07:19 GMT

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USD/JPY Daily Technical Forex

Thu, Jul 5 2007, 08:08 GMT
by Timothy Straiton

Current level at 10:10 CET is 122.59, trading close to the daily pivot point level of 122.51, with hourly momentum readings looking heavy and hourly standard error bands reversing the upside move graduallly. Support levels today are set at 122.32, 122.19 and 122.00, while resistance should be encountered at 122.86 and then 123.04. Rising trendline support from the March low of 115.16 comes in at 121.53.

Published on Thu, Jul 5 2007, 08:08 GMT

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USD/JPY Daily Technical Forex

Wed, Jul 4 2007, 08:33 GMT
by Timothy Straiton

Current level at 10:35 CET is 122.47, trading above the daily pivot point level of 122.39, having failed on three attempts this week to break through the important 122.19 support level. Hourly momentum readings are slightly favouring the upside now with resistance levels set at 122.71 and then 123.00. Should 122.19 still give way, then expect initial support at 121.45 which marks the rising trendline from the March low of 115.16.

Published on Wed, Jul 4 2007, 08:33 GMT

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USD/JPY Daily Technical Forex

Tue, Jul 3 2007, 08:20 GMT
by Timothy Straiton

Current level at 10:23 is 122.52, trading under the daily pivot point level of 122.56 but above the important support level of 122.19. Standard error bands are poised to the upside on an hourly basis but are turning to the downside on a daily basis. Hourly momentum indicators suggest a correction to the upside most likely from here. Resistance levels are set at 123.08 and then 123.79. A convincing break of 122.19 would bring support levels of 121.85 and 121.33 into focus, the latter level also marking the rising trendline support from the March 2007 low of 115.16.

Published on Tue, Jul 3 2007, 08:20 GMT

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USD/JPY Daily Technical Forex

Mon, Jul 2 2007, 08:28 GMT
by Timothy Straiton

Current level at 10:30 CET is 122.62, having broken first support at 122.86 and focussing on second support at 122.57. A break of the important 122.19 level will lend more credence to a trend reversal in this currency pair and a subsequent focus on rising trendline support at the 121.35 level, meaured from the March 2007 low of 115.16. Resistance levels today are at 123.48 and then 123.83. Daily pivot point is at 123.20.

Published on Mon, Jul 2 2007, 08:28 GMT

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USD/JPY Daily Technical Forex

Fri, Jun 29 2007, 07:51 GMT
by Timothy Straiton

Current level at 09:50 CET is 123.48, trading above the daily pivot point of 123.08 and on track to probe the second resistance level of 123.70. The important 122.19 level has held off downside attacks and attention will no doubt turn to the upside, focussing on the Fibo projection targets of 123.85 and 124.85. Support levels today are at 122.80 and 122.46. Both daily and hourly momentum readings remain supportive.

Published on Fri, Jun 29 2007, 07:51 GMT

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USD/JPY Daily Technical Forex

Thu, Jun 28 2007, 09:38 GMT
by Timothy Straiton

Current level at 11:40 CET is 123.12, trading above the daily pivot point level of 122.75, the market having rebounded off the previous ruptured high of 122.19. Resistance today is seen at 123.31 and then at 123.83, ahead of the previous high of 124.15. Hourly momentum readings suggest more upside to come today. Daily Bollinger and standard error bands still point to the upside.

Published on Thu, Jun 28 2007, 09:38 GMT

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USD/JPY Daily Technical Forex

Wed, Jun 27 2007, 08:58 GMT
by Timothy Straiton

Current level at 10:58 is 122.57, trading well under the daily pivot point of 123.23, having broken first support at 122.73 and focussing on second support at 122.29 ahead of the ruptured previous high of 122.19. If this breaks, then focus will be on rising trendline support from the 115.16 low, which is now at 121.10. Resistance levels today are set at 123.65 and 124.13.

Published on Wed, Jun 27 2007, 08:58 GMT

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USD/JPY Daily Technical Forex

Tue, Jun 26 2007, 07:54 GMT
by Timothy Straiton

Current level at 09:55 CET is 123.20, trading under the daily pivot point of 123.61. Hourly momentum readings reveal a drift to the downside, targeting second support level at 122.93 and possibly even the previous high at 122.19, given the show of strength of the JPY against most major currencies today. Resistance levels today are at 123.96 and then 124.29.

Published on Tue, Jun 26 2007, 07:54 GMT

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USD/JPY Daily Technical Forex

Mon, Jun 25 2007, 07:37 GMT
by Timothy Straiton

Current level at 09:38 is 123.79, trading under the daily pivot point of 123.89, with hourly momentum running gradually into negative territory. Support levels today are at 123.62 and thereafter at 123.39. The 14 day RSI is in overbought territoy at 73 percent. This is the fourth consecutive day that this currency pair is trading under the daily Bollinger upper band, so we would expect some kind of downside correction to materialise soon. Resistance levels are set at 124.12 and thereafter at 124.39 ahead of the 38.2 percent Fibo projection target of 124.85, measured from the 115.16 - 122.19 range.

Published on Mon, Jun 25 2007, 07:37 GMT

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USD/JPY Daily Technical Forex

Fri, Jun 22 2007, 08:54 GMT
by Timothy Straiton

Current level at 10:55 CET is 124.04, trading above the daily pivot point level of 123.62, having surpassed the 23.6 Fibo projection target of 123.85 and now focussing on the 38.2 Fibo projection target of 124.85. We are now more than 4 percent above the 200 day moving average, a level which has preceded trend reversals in the past. The 14 day RSI at 76 percent is also a warning sign.

Published on Fri, Jun 22 2007, 08:54 GMT

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USD/JPY Daily Technical Forex

Thu, Jun 21 2007, 08:33 GMT
by Timothy Straiton

Current level at 10:35 CET is 123.63, trading above the daily pivot point of 123.43 and just short of the 23.6 percent Fibo projection target of 123.85, measured from the 115.16 - 122.19 range. Today resistance levels are 123.79, 123.85 and thereafter 124.04. Support levels are at 123.18 and thereafter at 122.82. The 14 day RSI is now at 73 percent and we will be looking for signs of negative divergence over the coming days.

Published on Thu, Jun 21 2007, 08:33 GMT

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USD/JPY Daily Technical Forex

Wed, Jun 20 2007, 08:15 GMT
by Timothy Straiton

Current level at 10:15 CET is 123.33, trading under the daily pivot point of 123.45, having dificulty in exploring further downside at present. Suppport levels are 123.17 and 123.00. Daily Bollinger and standard error bands are still pointing to the upside, although we are trading under the upper daily Bollinger band for the second time this week. Resistance levels today are 123.62, ahead of the 23.6 percent Fibo projection target of 123.85.

Published on Wed, Jun 20 2007, 08:15 GMT

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USD/JPY Daily Technical Forex

Tue, Jun 19 2007, 06:55 GMT
by Timothy Straiton

Current level at 08:55 CET is 123.57, trading just above the daily pivot point at 123.54. First resistance today is calculated at 123.85, which is also the Fibo 23.6 percent projection target measured from the 115.15 - 122.19 range. The 14 day RSI is now at 76 percent so we would like to get mentally prepared for possible downside action soon. Hourly momentum indications are flat. Support levels today are 123.35 and then 123.07.

Published on Tue, Jun 19 2007, 06:55 GMT

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USD/JPY Daily Technical Forex

Mon, Jun 18 2007, 07:37 GMT
by Timothy Straiton

Current level at 09:40 CET is 123.47, trading above the daily pivot point level of 1.2332 and with hourly momentum readings in positive territory but suggesting more fantasy to the downside today. Support levels are at 122.97 and then 122.54 ahead of the previous high of 122.19. Resistance levels are placed at 123.74 and then 124.09. This pair is trading well above the daily Bollinger upper band, so a close below this band which is currently at 123.15, will be an initial indication of upside exhaustion. Fibo projection targets are placed at 123.85, 124.85 and 125.70.

Published on Mon, Jun 18 2007, 07:37 GMT

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USD/JPY Daily Technical Forex

Fri, Jun 15 2007, 07:34 GMT
by Timothy Straiton

Current level at 09:35 CET is 123.19, trading above the daily pivot point level of 122.85, with daily Bollinger and standard error bands pointing to the upside and price activity above the upper Bollinger band, indicating a strong upward move in force. Resistance levels today are 123.19 and 123.48 ahead of the 23.6 Fibo projection level at 123.85, measured from the 115.16- 122.19 range. Support levels are 122.56 and 122.22.

Published on Fri, Jun 15 2007, 07:34 GMT

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USD/JPY Daily Technical Forex

Thu, Jun 14 2007, 08:22 GMT
by Timothy Straiton

Current level at 10:23 CET is 122.88, trading above the daily pivot point level of 122.30. Resistance levels for today are set at 123.14 and 123.60 and the 23.6 percent Fibo projection target of 123.85. The 122.19 level should constitute a firm base for any downside movement today, however a break would bring 121.84 and then 121.00 into focus. Topping out hourly momentum readings suggest downside correction possible during the course of todays trading.

Published on Thu, Jun 14 2007, 08:22 GMT

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USD/JPY Daily Technical Forex

Wed, Jun 13 2007, 09:14 GMT
by Timothy Straiton

Current level at 10:42 CET is 122.29, trading well above the daily pivot point level of 121.69, having broken the previous high of 122.19 and giving more credence to a growing optimistic US dollar sentiment. This event has changed the outlook somewhat and we focus now on Fibo projection targets measured from the 115.16-122.19 range. These are 123.85 (23.6 percent) and then 124.85 (38.2 percent). The trend support line measured from the the March 2007 low of 115.16 comes in today at 120.38.

Published on Wed, Jun 13 2007, 09:14 GMT

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USD/JPY Daily Technical Forex

Tue, Jun 12 2007, 08:35 GMT
by Timothy Straiton

Current level at 10:37 CET is 121.74, trading just above the daily pivot point level of 121.66 with hourly momentum readings flat. Daily Bollinger bandwith is at the lowest level in the last 5 years and so we remain alert for a sudden upturn in directional activity. Resistance levels today are 121.85 and 122.02, ahead of the previous high of 122.19. Support levels are at 121.49 and then 121.30.

Published on Tue, Jun 12 2007, 08:35 GMT

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USD/JPY Daily Technical Forex

Mon, Jun 11 2007, 07:34 GMT
by Timothy Straiton

Current level at 09:35 CET is 121.56, trading above the daily pivot point level of 121.41 and in a narrow 25 pip range throughout the Asian session. Levels to watch are the previous high of 122.19 and the 76.4 Fibo retracement level of 120.55, measured from the 115.16- 122.19 range. Initial support today expected at 121.00 and resistance at 122.09.

Published on Mon, Jun 11 2007, 07:34 GMT

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USD/JPY Daily Technical Forex

Fri, Jun 8 2007, 07:21 GMT
by Timothy Straiton

Current level at 09:22 CET is 121.01, trading just under the daily pivot point level of 121.08, but lacking direction and rejecting US strength observed in other major crosses. Support today is seen at 120.61 and the 76.4 percent Fibo retracement level of the 115.16- 122.19 move at 120.55. Hourly momentum readings still a touch on the defensive. Resistance levels are at 121.38 and then 121.86.

Published on Fri, Jun 8 2007, 07:21 GMT

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USD/JPY Daily Technical Forex

Thu, Jun 7 2007, 08:21 GMT
by Timothy Straiton

Current level at 10:20 CET is 121.30, trading above the daily pivot point level of 121.14 with hourly momentum readings supporting a marginal recovery. Resistance today is expected at 121.40 and then 121.75. First support is at 120.78 followed by the 120.55 Fibo 76.4 percent level and then the rising trendline support level of 120.08 measured from the March low of 115.16.

Published on Thu, Jun 7 2007, 08:21 GMT

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USD/JPY Daily Technical Forex

Wed, Jun 6 2007, 09:08 GMT
by Timothy Straiton

Current level at 11:10 CET is 121.34, trading below the daily pivot point of 121.47 with hourly momentum suggesting the formation of a short-term base . Support levels today are 121.00 and then 120.66 ahead of the 76.4 Fibo retracement of the entire 115.16-122.19 range which is at 120.55. Resistance is at 121.81 and then the previous high of 122.19. Daily standard error bands are in the process of turning to the downside and together with negative daily RSI divergence, gives this market a somewhat defensive flavour.

Published on Wed, Jun 6 2007, 09:08 GMT

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USD/JPY Daily Technical Forex

Tue, Jun 5 2007, 08:46 GMT
by Timothy Straiton

Current level at 10:22 CET is 121.74, trading below the daily pivot point level of 121.79. The 14 day RSI has broken rising trendline support at 65 percent and this can be interpreted as an early indication that a top may be building, however only as long as the previous high of 122.19 remains intact. Support levels for today are 121.45, 121.22 and then 120.55 which is the 76.4 percent retracement of the entire 115.15 - 122.19 move. Hourly momentum readings are currently in negative territory.

Published on Tue, Jun 5 2007, 08:46 GMT

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USD/JPY Daily Technical Forex

Mon, Jun 4 2007, 06:23 GMT
by Timothy Straiton

Current level at 08:00 CET is 122.08 trading just above the daily pivot point level of 121.95, having not yet been able to overcome the previous high of 122.19 made on the 29th January this year. Rising daily Bollinger and standard error bands, the latter still in a narrow channel, underline the robustness of this unspectactular but nontheless positive trend. Support today is to be expected at 121.75 and then 121.46. A break of 122.19 will put focus on the Fibo projection levels measured from 115.16 at 123.85 (23.6 percent) and then 124.85 (38.2 percent).

Published on Mon, Jun 4 2007, 06:23 GMT

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USD/JPY Daily Technical Forex

Fri, Jun 1 2007, 07:37 GMT
by Timothy Straiton

Current level at 09:20 CET is 121.92, trading above the daily pivot point level of 121.73 and within striking range of the previous high of 122.19. Resistance today is 122.00 and support is to be encountered at 121.47 and then 121.20. The daily Bollinger and standard error bands are still pointing to the upside with the narrow standard error bands suggesting a healthy but gradual upward trend currently in place.

Published on Fri, Jun 1 2007, 07:37 GMT

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USD/JPY Daily Technical Forex

Thu, May 31 2007, 14:48 GMT
by Timothy Straiton

Current level at 10:40 CET is 121.67, trading above the daily pivot point level of 121.54. Hourly momentum readings currently supportive, targeting resistance levels of 121.82 and thereafter at 122.04. Support levels are 121.32 and then 121.04. The daily standard errror and Bollinger Bands are pointing to the upside, although daily momentum readings seem over-extended and make this currency pair look ripe for a downside correction unless the previous high of 122.19 is soon taken out.

Published on Thu, May 31 2007, 14:48 GMT

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USD/JPY Daily Technical Forex

Thu, May 24 2007, 08:45 GMT
by Timothy Straiton

Current level at 10:30 CET is 121.48, trading below the daily pivot point level of 121.57. Hourly momentum readings suggest more downside to be expected today with support at 121.28 and then 120.97. Resistance is seen at 121.89 and then 122.19. The 14 day RSI is now at 67 percent and a break of the 62 percent level will bring credence to more downside potential in this currency pair.

Published on Thu, May 24 2007, 08:45 GMT

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USD/JPY Daily Technical Forex

Wed, May 23 2007, 08:14 GMT
by Timothy Straiton

Current level at 09.50 CET is 121.78, trading above the daily pivot point level of 121 43 and defying gravity as usual. The 14 day RSI is now at 72 percent, thus an overbought scenario is gradually coming into place. Hourly momentum readings are still in positive territory and resistance levels today are 121.87 and then the previous high of 122.19. Support levels are 121.26 and 120.99. Only if the 14 day RSI breaks under the 61 percent level, would we start to focus on the downside of this market.

Published on Wed, May 23 2007, 08:14 GMT

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USD/JPY Daily Technical Forex

Tue, May 22 2007, 08:22 GMT
by Timothy Straiton

Current level at 10:09 CET is 121.44, trading just above the daily pivot point level of 121.34. Current upward hourly momentum trend is still intact, targeting resistance levels of 121.74 and then 122.03, ahead of the previous high of 122.19. Support is at 121.04 and 120.65.

Published on Tue, May 22 2007, 08:22 GMT

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USD/JPY Daily Technical Forex

Mon, May 21 2007, 08:06 GMT
by Timothy Straiton

Current level at 09:48 CET is 121.26, trading above the daily pivot point level of 121.05 and having recovered almost all of the Friday downside correction. Resistance levels today are 121.44, 121.78 ahead of the previous high of 122.19. Further upside expected at present with daily standard error and Bollinger bands channeling to the upside. A break below the daily pivot point at 121.05, will bring support levels of 120.72, 120.55 and 120.32 into focus.

Published on Mon, May 21 2007, 08:06 GMT

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USD/JPY Daily Technical Forex

Fri, May 18 2007, 07:19 GMT
by Timothy Straiton

Current level at 09:05 CET is 121.20, trading above the daily pivot point of 121.09, having breached the Fibo resistance at 120.55 on Wednesday. Resistance today is seen at 121.55 and thereafter at 121.81. Support is at 120.83 and 120.37. Hourly momentum readings suggest that although we are in positive teritory, a correction to the downside is most likely.

Published on Fri, May 18 2007, 07:19 GMT

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USD/JPY Daily Technical Forex

Wed, May 16 2007, 09:12 GMT
by Timothy Straiton

Current level at 10:55 CET is 120.34, trading just above the daily pivot point level of 120.30. The 76.4 percent Fibo retracement level of the the 115.16 to 122.19 range at 120.55 has proven to be a tough barrier up to now. Should it break, then further resistance is seen at 120.81. Todays support levels are 120.02 and 119.80. Rising trendline support from the March 2007 low of 115.16 comes in at 118.95. The daily Ichimoku cloud top is still at 118.67.

Published on Wed, May 16 2007, 09:12 GMT

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USD/JPY Daily Technical Forex

Tue, May 15 2007, 07:40 GMT
by Timothy Straiton

Current level at 09:20 CET is 120.17, trading under the daily pivot point level of 120.28. Support to be encountered at 120.11 and then 119.84. Resistance is at 120.55 and thereafter at 120.72. Rising trendline support from the March 2007 low of 115.16 comes in at 118.97. The 200 day moving average is at 118.32. Hourly momentum still just in positive territory, but showing signs of stalling now.

Published on Tue, May 15 2007, 07:40 GMT

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USD/JPY Daily Technical Forex

Fri, May 11 2007, 09:09 GMT
by Timothy Straiton

Current level at 10:30 CET is 119.89, trading below the daily pivot point level of 120.06. Short-term momentum readings here have recovered to the 100 equilibrium level without any significant upside move in the cash price. This is a negative and puts immediate focus on downside support levels of 119.59 and 119.32. The 14 day RSI has broken support and also suggests that more downside is ahead. The daily Ichimoku cloud top is still at 118.68 and probably the next important downside target. On the upside, Fibo resistance at 120.55 remains unchallenged.

Published on Fri, May 11 2007, 09:09 GMT

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USD/JPY Daily Technical Forex

Thu, May 10 2007, 09:20 GMT
by Timothy Straiton

Current level at 11:07 CET is 120.28, trading above the daily pivot point level of 119.92. Hourly momentum readings would indicate that more upside is possible, with an attempt to break the 120.55 Fibo resistance likely. On the downside, support is at 119.70, 119.50 and 119.37.

Published on Thu, May 10 2007, 09:20 GMT

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USD/JPY Daily Technical Forex

Wed, May 9 2007, 07:41 GMT
by Timothy Straiton

Current level at 09:17 CET is 119.81, trading under the daily pivot point level of 119.86, with hourly momentum in negative terrritory but attempting to form a short-term base. Support is seen at 119.50, which if broken, will open up focus on 118.65, the Fibo 50 percent retracement level of the 115.16- 122.19 range and also the daily Ichimoku cloud top. Upside resistance remains still unchallenged at 120.55.

Published on Wed, May 9 2007, 07:41 GMT

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USD/JPY Daily Technical Forex

Tue, May 8 2007, 08:27 GMT
by Timothy Straiton

Current level at 10:00 CET is 119.94, trading just below the daily pivot point level of 120.01. Hourly momentum still slightly favouring the downside with support levels at 119.84 and then at 119.58. Resistance is at 120.27, 120.44 and the Fibo 76.4 retracement level at 120.5.

Published on Tue, May 8 2007, 08:27 GMT

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USD/JPY Daily Technical Forex

Mon, May 7 2007, 08:18 GMT
by Timothy Straiton

Current level at 09:50 CET is 119.91, trading below the daily pivot point level of 120.16 and testing support at 119.86. Further support is seen at 119.56. Resistance is at 120.46, 120.50 and 120.76. Slipping hourly momentum readings suggest that the downside dominates for now.

Published on Mon, May 7 2007, 08:18 GMT

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USD/JPY Daily Technical Forex

Fri, May 4 2007, 08:02 GMT
by Timothy Straiton

Current level at 09:48 CET is 120.36, trading just above the daily pivot point level at 120.28, however meeting stiff resistance at the 76.4 Fibo retracement level of 120.50. A break to the upside from there will meet additional resistance at 120.61 and 120.81. Hourly momentum readings, which have been supportive over the past 5 trading days are now showing signs of weakness, which leads us to the conclusion that JPY strength could emerge despite a resilient USD. Downside support is seen at 120.06 and 119.73. More significant support levels are 119.50 and thereafter at 118.68, which also marks the daily Ichimoku cloud top.

Published on Fri, May 4 2007, 08:02 GMT

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USD/JPY Daily Technical Forex

Thu, May 3 2007, 08:15 GMT
by Timothy Straiton

Current level at 09:38 CET is 120.14. Hourly momentum readings are still in positive territory but stalling. A break throught the pivot point at 119.97 will target support levels at 119.66 and 119.18. Resistance today is to be encountered at 120.45, 120.50 (Fibo 76.4 percent retracement of the 115.16-122.19 move) and 120.76.

Published on Thu, May 3 2007, 08:15 GMT

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USD/JPY Daily Technical Forex

Wed, May 2 2007, 09:29 GMT
by Timothy Straiton

Current level at 11:12 CET is 120.00, trading above the daily pivot point level of 119.58. Positive hourly momentum suggests that we may meet the 76.4 Fibo retracement level of 120.50 measured from the 115.16 -122.19 move. Should on the other hand, the pivot level fall, we expect support at 119.29 and 118.74.

Published on Wed, May 2 2007, 09:29 GMT

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USD/JPY Daily Technical Forex

Tue, May 1 2007, 08:23 GMT
by Timothy Straiton

Current level at 10:05 CET is 119.61, trading above the daily pivot point level of 119.44 and within a narrowing range. Today's resistance levels are at 119.74, 120.04 and then the 76.4 Fibo retracement level at 120.50. Support at 119.13 and 118.84. Rising trendline support from the March 2007 low of 115.16 comes in at 118.15.

Published on Tue, May 1 2007, 08:23 GMT

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USD/JPY Daily Technical Forex

Mon, Apr 30 2007, 07:43 GMT
by Timothy Straiton

Current level at 09:20 CET is 119.50, trading just above the daily pivot point level of 119.40. Hourly momentum is stalling after positive action seen during the latter part of last week. Today's support levels are 119.04 and 118.48. Resistance is at 119.96 and thereafter at 120.32. Rising trendline support from the March 2007 low at 115.16 comes in at 118.08. The daily Ichimoku cloud top is still at 118.67.

Published on Mon, Apr 30 2007, 07:43 GMT

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USD/JPY Daily Technical Forex

Fri, Apr 27 2007, 08:14 GMT
by Timothy Straiton

Current level at 09:58 CET is 119.42, trading above the daily pivot point level of 119.24, with hourly momentum readings still just in positive terrritory. Support today at 118.82 and thereafter at 118.07. Resistance at 119.98, 120.40 and the 76.4 percent Fibo retracement of the 115.16-122.19 move at 120.50.

Published on Fri, Apr 27 2007, 08:14 GMT

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USD/JPY Daily Technical Forex

Thu, Apr 26 2007, 09:17 GMT
by Timothy Straiton

Current level at 11:04 CET is 119.11, well above the daily pivot point level of 118.59. Hourly momentum supportive and short-term resistance seen at 119.20 and thereafter at the 61.8 percent Fibo retracement level at 119.50. Short-term support at 118.34 and then at 117.98.

Published on Thu, Apr 26 2007, 09:17 GMT

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USD/JPY Daily Technical Forex

Wed, Apr 25 2007, 08:10 GMT
by Timothy Straiton

Current level at 09:50 CET is 118.48, trading just under the daily pivot point level of 118.56. Contracting daily Bollinger bands may be a warning that the current period of lethargy could soon come to an end. Hourly momentum readings are supportive and upside target remains 119.50 as long as the support at 117.60 holds. Short-term support levels are 118.20 and 117.85.

Published on Wed, Apr 25 2007, 08:10 GMT

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USD/JPY Daily Technical Forex

Tue, Apr 24 2007, 08:46 GMT
by Timothy Straiton

Current level at 10:15 CET is 118.58, trading just under the daily pivot point of 118.62. Market still trapped between the daily Ichimoku cloud base and top at 117.78 and 118.67. Rising trendline support from the 115.16 low at the beginning of March comes in at 117.76. This level also marks the 38.2 Fibo retracment line of the entire 115.15 - 122.19 move.

Published on Tue, Apr 24 2007, 08:46 GMT

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USD/JPY Daily Technical Forex

Mon, Apr 23 2007, 07:22 GMT
by Timothy Straiton

Current level at 08.50 CET is 118.29, trading under the daily pivot point level of 118.62. Hourly momentum readings are flat to negative. Market still trapped within the Daily Ichimoku cloud marked by the 118.67 and 117.74 levels. The 38.2 and 50 percent Fibo retracement levels of the 115.16-122.19 range seem also to bracket this market at 117.85 respectively, 118.65. Further out, expect resistance at 119.50 and support at 116.82.

Published on Mon, Apr 23 2007, 07:22 GMT

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USD/JPY Daily Technical Forex

Fri, Apr 20 2007, 09:08 GMT
by Timothy Straiton

Current level at 10:28 CET is 118.77, trading above the daily pivot point level of 118.23 with hourly momentum readings looking supportive and edging into positive territory gradually. Fibo retracement levels at 117.75 and 118.70 seem to be bracketing activity at present. These levels also represent the daily Ichimoku cloud top and base. The next important resistance is to be encountered only at 119.50.

Published on Fri, Apr 20 2007, 09:08 GMT

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USD/JPY: Current level at 09:40 CET is 118.69

Wed, Apr 18 2007, 15:47 GMT
by Timothy Straiton

Current level at 09:40 CET is 118.69, below the daily pivot point level of 119.16, but just above the daily Ichimoku cloud top at 118.67, which also happens to coincide with the 50 percent Fibo retracement of the entire 115.16-122.19 move. Hourly momentum is in negative territory, however a recovery could be on the cards here. Immediate resistance is to be encountered at 119.50 and support at 117.85. The 200 day moving average is rising at 117.98.

Published on Wed, Apr 18 2007, 15:47 GMT

Archive

USD/JPY Daily Technical Forex
Published On Thu, Jun 19 2008, 09:58 GMT
USD/JPY Daily Technical Forex
Published On Tue, Jun 17 2008, 12:21 GMT
USD/JPY Daily Technical Forex
Published On Thu, Jun 12 2008, 09:09 GMT
USD/JPY Daily Technical Forex
Published On Tue, Jun 10 2008, 06:54 GMT
USD/JPY Daily Technical Forex
Published On Thu, Jun 5 2008, 08:05 GMT

More Reports from this Contributor

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