JPY News

USDJPY remains in downtrend from 111.57, the rise from 108.13 is likely consolidation of downtrend. Resistance is at 109.40, as long as this level holds, the downtrend could be expected to continue, and next target would be at 107.00 area. On the upside, a break of 109.40 resistance will indicate that the downtrend had completed at 108.13 already, then further rise to 110.50 area could be seen.

USDJPY stays in the descending price channel on 4-hour chart and remains in downtrend from 112.19, the price action from 108.13 could be treated as consolidation of the downtrend. As long as the pair is in the channel, the downtrend could be expected to continue, and next target would be at 107.00 area. On the upside, a clear break above the channel resistance will indicate that the downtrend had completed at 108.13 already, then the following rebound could bring price to 110.50 zone.

USDJPY is facing the resistance of the descending price channel on 4-hour chart. A clear break above the channel resistance will indicate that the downtrend from 112.19 had completed at 108.13 already, then further rise to 110.50 area could be seen. On the downside, as long as the channel resistance holds, the rise from 108.13 could be treated as consolidation of the downtrend, and further decline to 107.00 area is still possible after the consolidation.

USDJPY broke above the top of the descending price channel on 4-hour chart, indicating that the downward movement from 112.19 had completed at 108.13 already. However, the bounce from 108.13 would possibly be consolidation of the longer term downtrend from 115.50. Range trading between 108.13 and 110.57 would likely be seen over the next several days. Resistance is at 110.57, only break above this level will confirm that the downtrend from 115.50 is complete, then the following upward movement could bring price to 113.00 zone.

Corporate service prices in Japan were up 0.8 percent on year in March, the Bank of Japan said on Tuesday.

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USDJPY stays in a ascending price channel on 4-hour chart and remains in short term uptrend from 108.13. As long as the pair is in the channel, the upward movement could be expected to continue, and next target would be at 112.00 area. On the downside, a clear break below the channel support will indicate that the upward movement had completed at 110.57 already, and the downtrend from 115.50 has resumed, then further decline to test 108.13 support could be seen.

USDJPY remains in uptrend from 108.13, the fall from 111.77 is likely consolidation of the uptrend. Near term support is at the bottom of the price channel on 4-hour chart. As long as the pair is in the channel, the uptrend could be expected to continue, and next target would be at 113.00 area. Only a clear break below the channel support will indicate that the uptrend had completed at 111.77 already, then the following pullback could bring price to 109.00 area.

The manufacturing sector in Japan continued to expand in April, and at a faster rate, the latest survey from Nikkei revealed on Monday with a PMI score of 52.7.

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Japan's new vehicle sales growth eased sharply in April, figures from the Japan Automobile Dealers Association showed Monday.

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USDJPY stays in a ascending price channel on 4-hour chart and remains in uptrend from 108.13. Near term support is at the bottom of the channel. As long as the channel support holds, the upward movement could be expected to continue, and next target would be at 113.00 area. Key support is at 110.87, only a break below this level will indicate that the upwards movement had completed at 112.30 already, then the pair will find support around 109.50.