Japanese yen continues losing ground, and moving inside an ascendant channel. Pair has entered in a consolidation stage, and as  long as the 91.50 area holds, it has further room to rise; Immediate resistances come at 92.00 and the 92.30/50 area; above it, expect the pair to test the 93.00 level. Under 91.50 supports come at 91.20 and 90.80 level, not seen for today.

Stocks move down, U.S. futures, and European stocks, yet gold seems unable to move lower. Gold rebound to the upside, dollar to the downside. However, seems the week end will favor greenback, and yen. USD/JPY level lo watch is 88.70. Under that level, 88.20 lows, ahead of 87.60 area and 87.20 year lows.

With treasury prices a little higher early Monday in a day of reprieve ahead of record supply and the FOMC meeting, Usd/Jpy regained the upside, starting the week also above the 4 hours descendant channel we have been following these days. Also with a double floor around 90.20, and with the neck around 91.60, pair should address now to the 93.00 area to complete that figure. 4 hours charts anyway look over bought, so consider some downside corrections before a new leg up. Resistances from current level lie at 92.60, followed by mentioned 93.00 area, ahead of stronger 93.35 level. Supports, for the next hours lie at 92.20, 91.80 and finally 91.50 area.

I really have no “hopes” on a bullish recovery in this pair, yet…. we are technical analyst right? anyway, 4 hours charts indicators are strongly bullish, while current candle break above 20 SMA that is gaining some bullish slope. Approaching to the roof of the descendant channel coming form the 97.78 highs reached past month after U.S. Payrolls, candle opening above 91.70 will confirm further rises in the pair. Height of the channel is of around 180 pips, that means objective for the movement could well be around 93.50. Resistances today come at 91.70, 92.10 and 92.50 area, while supports lie at 91.10, 90.65 and the 90.20 zone.

Take a look at this 4 hours charts: pair remains clearly bearish, despite the extreme readings in bigger time frames. 20 SMA strongly bearish momentum cutting the 100 line, CCI strongly down. Nothing suggest a bottom is near, or a trend change. Under 90.00, expect the pair to extend the fall, with next supports at 89.65 and 89.20 zone. Resistances from actual price lie at 90.60, 91.10 and 91.35, not seen today.

We now Japanese Yen has been appreciating strongly this year, following risk sentiment mood. Now fighting the 93.00 level back, pair started the week above a 4 hours descendant channel, suggesting some upside continuation; theoretically, that means around 200 pips to the upside, the height of the channel, and a probable retest of the 95.00 level, as long as the pair complete the pullback to the roof of the broken channel, and don’t close the day inside it. As 93.35/45 area has been acting as strong support, maybe a candle opening above that level could help us confirm the movement; next resistances will come at 93.80  and the 94.00 area for today; pullback will be complete at 92.82, so that’s our first support for today, followed by the 95.50 zone and finally 95.20. Let’s see it technicals could overcome sentiment.

Japanese Yen continues strongly bearish, gaining lower levels weak after week; hovering around 94.00 past one, now USD/JPY has also lost the 93.00, and is fighting the 92.40/50 support area. If this gives up, a brief halt around 92.10, ahead of stronger 91.70 is seen for today. Under that level, expect the pair to approach to the 90.00 are sooner than later. Resistance today lie at 95.80 93.10 and 93.40. 

USD/JPY is higher on U.S. rising futures: DJIA hitting 9550, and S&P above 1030, pushing above yearly highs are holding the downside in this pair, that test the 93.70 support early today. Now around 94.20, resistances are located at 94.45, 94.70/80 and the 95.10 area. No clear signals coming from 4 hours charts at this point. Supports, are at 94.00, 93.70 and 93.40 area.

Here we are, finally Japanese yen breached the 94.20 lows, and reached 93.70, looking extremely oversold in 4 hours charts, yet with no signs of reversing or halting. Next key level comes around 93.40/50, and we could expect some rebound there, if pair continues falling with no corrections. Under that, 93.00 comes next. Resistances now come at 94.20, 94.45 area and above 94.80.

USD/JPY extend loses and print a fresh intraday low of 94.80 and holds under 95.00. Clearly bearish, 4 hours indicators are showing signs of exhaustion, thus sentiment could send the pair to retest the 94.50 area before some upside correction. If this last don’t hold, next support lies at 94.20. Above 95.00, resistance will be at 95.25 area ahead of stronger 95.50/60 zone.

As the pair is highly correlated with U.S. yields, falling yields are keeping the pair under pressure. If U.S. CPI shows a weak number, pair will continue falling.