Forex Bio

Technical Analysis for USDJPY 7 May 2010

The USDJPY had a significant bearish momentum yesterday, bottomed at 88.23 but closed higher at 90.53 and keep corrected higher around 91.68 at the time I wrote this comment. On daily chart below we can see that price violated the bullish channel, slipped below the major trendline support but now traded higher above the trendline indicating the major bullish scenario remains intact so far but surely under serious threat especially if price move below the trendline support again testing 88.15...

Technical Analysis for USDJPY 5 May 2010

The USDJPY was indecisive yesterday. The bias is neutral in nearest term. The major bullish scenario remains intact but price has a problem to consistently move above 94.70 key level. I think we need a break above 95.10 area to continue the bullish scenario testing 95.50 and 96.70 this week. Immediate support at 94.31 (yesterday’s low). Break below that area could trigger further bearish momentum testing 94.00...

Technical Analysis for USDJPY 4 May 2010

The USDJPY had a bullish momentum yesterday. On daily chart below we can see that price is now struggling around 94.70 region. The bias is bullish in nearest term but note that we need a consistent move above 94.70 area to continue the major bullish scenario towards 95.50 and 96.70 this week. Another movement below 94.70 area could lead us back into no trading zone as direction would become...

Technical Analysis for USDJPY 29 Apr 2010

The USDJPY had a bullish momentum yesterday, topped at 94.31 and closed at 94.01. The major bullish outlook since the bullish running from 84.82 remains intact but the pair has been moving in a range area of 94.70 – 92.00 for more than 4 weeks now without a clear direction. I will keep stay away from this tricky pair for now. Immediate support at 93.30. Break below that area could trigger further bearish pressure testing 93.00 – 92.50 area. Initial resistance at 94.70. Break above that area...

Technical Analysis for USDJPY 26 Apr 2010

After corrected lower and slipped below the bullish channel since failed to break above 94.70 area, the USDJPY had a significant bullish momentum last week and break above 93.75 indicating potential bullish outlook as downside correction may end and price ready to continue the bullish scenario . However we need a clear break above 94.70 area to continue the bullish scenario targeting 95.50 even 96.70 – 97.80 region this week. Another move below 93.75 should lead us into no trading zone in...

Technical Analysis for USDJPY 15 Apr 2010

The USDJPY made another indecisive movement yesterday, made another Doji on daily chart. On h4 chart below we can see that price still trapped in range area of 93.75 – 92.50 indicating consolidation. The bias remains neutral in nearest term. I still prefer a bullish scenario but we need a clear break above 93.75 to end the consolidation phase/downside correction targeting 95.50 region. On the other hand, break below 92.50 and violation to the bullish channel could be seen as a serious...