Yen Daily Fundamental Analysis

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The Bloomberg Dollar Spot Index rose less than 0.1 percent. It rose 0.2 percent in the final session after the purchasing managers index grew at a faster pace than economists forecast and new home sales data for September are close to their highest level in nearly nine years.

 

The yen was little changed to 104.54 per dollar, near its lowest level in three months. The majority of economists expect the Bank of Japan will keep stimulus unchanged when Governor Haruhiko Kuroda and policy board meeting on 31 October to 1 November to assess the progress of the monetary policy conducted so far.

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The movement of USDJPY pair on European session is stronger after the price of this pair opened lower at 104.45 in early trading (0000 GMT), and now the pair is at 104.94. The yen trimmed its strength entering the European session responds sentiment Fed rate hikes are stronger by this week's FOMC meeting. 

 

Moreover depressed economic datas early in the session as well as industry data and retail data Japan. Until the evening session USDJPY's price is expected to continue rising if the economic data exceeded expectations the evening session.

 

Technically, USDJPY is moving up towards strong resitance and if the pair breaks continued up to the range of 105.00-103.80. But if it does not reach this range then the pair will drop to the bottom of the range 105.48-104.15. So the normal range of USDJPY pair is estimated to have the support level at 103.06 and the resistance level at 106.18.

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The movement of USDJPY pair on European session is stronger than expected where the price actually opened higher at 104.83 in early trading (0000 GMT), and now the pair is at 104.91. Price also has been break the strong resistance.

Yen entering the European session still can not breathe after two straight days of distress, BOJ attitude to trim inflation target for the long-term negative sentiment for Yen. This currency was also hit by a strong European stock market trading. And at the evening session, US economic data has the potential to elevate US dollar.

Technically, USDJPY may rise towards 105.10-105.51 and if the pair breaks then it may rise towards the range of 105.60-105.89. But if it does not reach this range then the pair will drop to the range of 104.54-104.05. So USDJPY pair is estimated to have the support level at 103.49 and the resistance level at 105.88.

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The movement of USDJPY at the European session (07:55:35 GMT) moving weak after this pair's opening lower in early trading at 103.30 (00.00 GMT), and now the pair are currently located at the position of 68.89. Before the pair had already reached his strong support.

Japan yen exchange rate on European session still continued the rally by safe haven trading sentiment weighing the United States political conditions. Japan market today off so there is no catalyst activator and throughout the day following global sentiment.

USDJPY technical basis is expected to be down to the range of 98.58-102.13, and if this pair didn't reach the range ready to reverse back to the range of strong resistant at 103.76. So the normal range of USDJPY today is expected to have support at 101.43 and resistant level at 104.85

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USDJPY pair movement in the European session (07:45:35 GMT) moves so strong after opening higher at 102.99 in early trading (0000 GMT), and now the pair is in the position of 103.23. Japanese yen exchange rate continue to respond to strong fundamentals of US Dollar on Asia session. The data is expected to increase and add a strong signal of the Fed rate hike in December.

Technically, USDJPY is expected to rise towards the range 103.38-103.73, and if this pair does not reach it then it will return back to around 102.78 range. It seems that normal range of USDJPY pair is estimated to have the support level at 101.46 and the resistance level at 104.14.

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The movement of USDJPY on European session moves higher after opening lower at 104.07 in early trading (0000 GMT), and now the pair is at 104.34. Yen enter the European session with enormous hit by a strong rise of US dollar moemntum after FBI announced a new evidence couldn't found charges against Hillary Clinton. The lack of domestic catalysts driving the Japanese make the pair move to the US dollar sentiment.

 

Technically, USDJPY's pair is moving up towards then range between 104.68-105.12 which act as resistance level and if cannot reach that range then this pair will fall down towards the range between 102.60-102.10. So this pair could be argued to have the range between support level at 102.08 and the resistance level at 103.22.

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The movement of USDJPY pair on European session (08:55:35 GMT / 15:55 pm) is sluggish after the price of this pair opened lower at 105.15 in early trading (0000 GMT), and now the pair is moving at around 103.58.

 

The Japanese yen continued to strengthen since the beginning of the Asian session by the momentum of US dollar retreats await the results of the US presidential election which was won by Donald Trump, the retreat movement able to lif USDJPY pair back towards around 104.75. This recommendation will be valid until the Asian session trading tomorrow.

 

Technically, USDJPY is moving up towards the range between 104.25-105.62 and if until the pair will be continued up to the range of 105.62-107.63. So many analysts argued that the normal range for USDJPY pair is estimated to have the support level at 99.96 and the resistance level at 107.63.

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USDJPY pair movement based on Asian trading session (03:35:27 GMT) moves weaker after the price of this pair opened higher at 105.65 in early trading (0000 GMT), and now the pair is in the position of 105.48.

Japanese yen exchange rate based on Asia's session trading is trying to keep the pace of the rebound that formed in early trading as US dollars to respond to weak fundamentals. But the yen's strength is limited by several economic data releases which were less impressive as factory machinery orders data and the data on investment in the Japanese financial markets.

Technically USDJPY was moderate rise towards the range of 106.04-106.60, and if the pair breaks this range will be continued rise to around 106.76. But if it is failed, pair has the potential to go down again towards the range of between 104.86-102.50. So USDJPY pair is estimated to have the support level at 101.27 and the resistance level at 107.53.

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The movement of USDJPY pair on Asian session (04:40:35 GMT / 11:40 pm) is sluggish after opening lower at 106.82 in early trading (0000 GMT), and now the pair is at 106.45.

Japanese Yen on Asian session rebounded by the collapse in bond yields is very large region so as to make the market concerned and the hunt for a safe haven. Besides the US dollar also retreat from the highest peaks 9 trading days. The yen's strength to ignore the negative sentiment on the economic data released data.

Technically, the USDJPY is moving down towards 106.10-105.44. But if it is not until these ranges, the pair may rise to a range of 106.98-107.65. So USDJPY pair is estimated to have the support level at 103.80 and the resistance level at 109.73.

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Japanese yen exchange rate movements forex trading on Tuesday (15/11), which tends to be the strongest since the Asian session supported by the momentum of the US dollar profit taking. Retreat dollars occurred after previous trading that has been rallying for six consecutive days reached the highest position in the trade throughout 2016.

 

Today's trading was no Japanese economic data that can sustain the movement of the yen, so that the movement in the spot market consolidation among the positive sentiment may revive the USDJPY pair. The yen is expected to be cut back by the strength of these data.

 

Yen exchange rate movements strengthened against the US dollar, USDJPY opened higher at 108.43 in early trading and fall down 15 pips and value pair rolling at 108.28. For the movement of the pair until the end of the evening session trading to remain strong, so USDJPY pair rose to around 108.55 to 109.78. But if there is a technical correction and impairment pair slid to around 107,60-106.58.

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The movement of USDJPY pair on Asia session (02:20:25 GMT / 09.30 am) move weaker after the price opened higher at 109.08 in early trading (0000 GMT), and now the pair is at 108.85.

 

Japanese Yen attempted to rally on Asia session after BOJ Governor said that if Donald Trump's policies encouraging US economic growth then it is also good for Japanese economy. Previously Yen observed to be tumbled by the attitude of BOJ which buy government bonds in an unlimited amount.

 

Technically, USDJPY is declining towards the range between 108.28-107.85 and a break would fall further towards between 107.50 to 107.35. But if it is not until these ranges can pair climbed back into the range of 109.34-109.97 . So the analyst suggests that USDJPY pair is estimated to have the support level at 107.35 and the resistance level at 110.20

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The movement of USDJPY pair based on Asian session (02:20:25 GMT / 9:20 pm) moving strongly after the price openedg higher at 110.13 in early trading, and now the pair is moving at 110.59.

Japanese Yen on Asian session again depressed by the strong fundamentals US dollar after the hawkish speech Janet Yellen that amplify signals Fed rate hikes. Yen on the previous trading has been depressed by the BOJ plans to buy government bonds is not limited to Japan.

Technically, the USDJPY is moving up towards the range between 110.88-111.66, but if it is failed will may descend towards the range 109.70 to 109.02. So Analyst argued that the normal range on the USDJPY pair is estimated to have the support level at 107.71 and the resistance level at 111.65.

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The movement of USDJPY pair on Asian session is strengthening after this pair make a strong opening at 110.95 in early trading , and now this pair still have a good sentiment and keep moving at around 111.00.

Japanese Yen based on Asian session seems depressed again by foreign trade balance report which showing Japan exports lowered and the surplus to fall in the period October compared to the previous period. But Yen could move if there is fundamental support, in addition to the US session there is no data to support the movement of the US dollar.

Technically, the USDJPY is moving up towards 111.37-111.66, but if failed to break 111,37 then this pair may fall towards the range between 110.48 to 109.14. So USDJPY pair is estimated to have the support level at 108.82 and the resistance level at 111.70.

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After Japan's stock opened on Thanksgiving Day holiday on Wednesday (23/11), at the beginning Asian session, flash data released manufacturing PMI business performance of the country for the period November that increase the performance is bad for the yen against major rivals. Observed since such data, not only the yen weakened against the US dollar also against the euro, sterling and Australian dollar.

Data Markit manufacturing PMI reports showed a decrease score slightly from the previous month period as well as market expectations. After the release of the data flash manufacturing, the USDJPY pair managed to rise to its highest level in eight months and until the evening session feared they would rally.

For the movement of this pair until the end of the evening session trading has the potential to rally more even higher. So it estimated that UADJPY may rise to the rnage between 113.65 to 113.98 and to higher price if able to break 113.98.

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Japanese yen exchange rate movements rebound since Asian session on Friday until this afternoon European trading session, which began receiving a strong energy from the release of BOJ inflation data which increased from the previous period on an annual basis.

Safe haven trade was formed to respond to the drop in crude oil prices that make moving European stock markets opened higher after a negative from the previous trading. Because this is a safe haven sentiment USDJPY pair depressed the first time after three straight days of driving.

Yen on European session strengthened against the US dollar, USDJPY opened lower at 113.34 in early trading and observed to fall down about 31 pips and the pair rolled at 113.03, so USDJPY may fell again to the range 112.25 to 111.80. And if there is a correction, the pair may bounce back towards the range 114.24.

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The movement of Japanese Yen against US Dollar on Asia session is weak after the price opened at 112.79 higher than previous position on the early session, because of that the price is keep rising and right now USDJPY traded at 113,41.

USDJPY on Asia session is moving stronger as the respond to the Nikkei Index which is still weak which impacted the forex market at the same time. Aside from that the other factor is US Dollar which give more pressure since the early opening of the market.

Technically, this pair may dropped down towards 111.11 up to 110.30 and if the price able to break 110.30 it will fall deeper towards 109.00. But if failed the price may break 113.18 up to 114.10. So it could be say that USDJPY today has the support level stop at 110.55 dan resistance at 114.96.

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Japanese yen rally which lasted two consecutive days since US dollar tumbled last week by a decline in US bond yields, stalled since entering Asia session on Tuesday (29/11) up to the European session. Back lifting USDJPY pair is driven by a strong sentiment despite Fed rate hike at the beginning of the session trying reinforced by a hefty Japanese economic data such as data on consumer spending and the performance of the domestic retail business.

Trumponomics sentiment since the presidential election has made US dollar Stronger on forex market throughout the world such as Europe and Asia, which consequently suppress exchange rates in Asia. But Yen had strengthened a few days after receiving the support of safe haven trading post unstable market conditions.

And at the evening session sentiment rising interest rates the US central bank is expected to be intensified after a US government report that will report the condition of the country's economic growth in the third quarter.

For the movement of the pair until the end of the evening session trading has the potential to rise, so the analyst estimates that USDJPY may be further rise again to the range between 112.96 to 113.81. And if there is a correction, the pair may fall back towards the range between 111.40-110.90.

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The movement of USDJPY pair on Asian session is strong after the price of this pair opened higher at 112.39 in early trading, and now the pair is at 112.70. Considering that the pair able to break its resistance is better.

Japanese Yen seems weakening on Asian session resumed trading earlier by the strengthening plan of Fed on interest rates in December, after data Q3-2016 US Prelim GDP showed an increase above expectations. And at the evening session USDJPY may strengthen if US ADP data showed positive data.

It seems that USDJPY climbing towards 113.11-113.89 and a break between that will go to the range of 114.00-114.40. So analyst argued that the normal range for USDJPY pair is estimated to have the support level at 109.73 and the resistance level at 114.38.

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Momentum dollar weakness against many of Yen by profit taking after earlier trading market exhibited significantly strengthened enough data is supported by strong ADP employment change in November, the momentum for the Japanese yen rebounded after depressed during two consecutive days.

However, during the American session, there are several US economic data as a powerful driver of potentially high lift the US dollar, such as the unemployment rate of data, construction data, PMI manufacturing data. The data is expected to show increasing data unless the data from the previous period unemployment rate is expected to fall. This data can support the NFP data due to be released Friday.

For the movement of the pair until the end of the evening session trading has the potential to go down, so the analyst estimates may be further USDJPY pair dropped again to the range 113.54 to 113.16. And if there is a correction, the pair could rise back towards the range 114.90-115.56.

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USDJPY pair movement on Europe session (07:00:27 GMT) moving flat after opening higher at 114.07 in early trading (0000 GMT), and now the pair is in the position of 114.08.

Japanese yen exchange rate on Europe session began trimmed strength after Asian session trying to continue to rally from the previous trading. Sentiment release of US NFP data later in the evening gives strength to USDJPY on American session USDJPY. If the disappointing US NFP data, the pair may fall further.

Technically USDJPY attempted to climb towards 114.35-114.84, and if the pair breaks 114.35 then it may touch around 115.00. But if it is not until this range, pair has the potential to go down again towards the range between 113.49-112.81. So the analyst suggests that USDJPY pair have the support level at 112.05 and the resistance level at 115.72.

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The movement of USDJPY pair on Asia trading session is better after the price of this pair opened lower at 113.29 in early trading, and now the pair is at 113.59. This pair also trying to break its resistance.

Japanese seems pressured by a decline in Japan consumer sentiment data by the Cabinet office of the country which were significant enough. In early trading sentiment was strengthened by safe haven after the Italian referendum results, but trimmed back by the rise of the US dollar rebound expectations.

Technically, USDJPY is moving up towards the range between 114.07-114.76 and if not breaks will fall back to around 112.50 -111.96. So the analyst suggests that the normal range of USDJPY pair is estimated to have the support level at 112.08 and the resistance level at 115.08.

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The movement of USDJPY on Asian session observed strengthening after opened lower at 113.85 in early trading, and now this pair is moving towards 113.76. This pair also seems trying to break one of the support line first.

Japanese Yen on late Asian session still powered to beat US dollars by the strengthening stock market and Nikkei which lift a fundamental lack of US dollars in an evening session. Japanese economic data releases this morning is weak to index average cash earnings were lower than expected.

Technically, the USDJPY may rise towards the resistance range 114.70-115.43 and if not breaks will fall back to around 113.54 -112.96. So analysts suggest that the normal range for USDJPY pair is estimated to have the support level at 112.59 and the resistance level at 114.91.

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After the Japanese government announced its economic growth declined in the third quarter from the previous quarter, Yen movements in the forex market actually showed gains. USDJPY continued movement of the yen in the previous trading power that receives power from the US bond trading conditions.

Japan's Cabinet Office announced Q3-2016 GDP fell to 0.3% from 0.5% in the previous period, even fell below the expectations of an increase in growth of 0.6%. The fall in the exchange rate data as a major driver of the Japanese yen USDJPY did not make the pair to rise.

Besides ending the American stock trading early this morning, monitored the country's government bond yields fell. 10th bond yield fell about 0.003 bp to 2.34%, as well as to bond the 30th dropped 0,003 bp to 3.02%. The condition weakens the US dollar in the USDJPY dropped to around 113 from the highest peak this year at 114.

For the movement of the pair until the end of the evening session trading has the potential to continue to fall, so the analysts estimate may be further USDJPY pair dropped again to the support range between 112.78 to 112.01. But if there is a correction to rise to a range of 114.07-114.86.

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USDJPY pair movement on European session moves rallied after the price of this pair opened lower at 114.02 in early trading (0000 GMT), and now the pair is at 114.49. So this pair also facing a strong resistance.

Japanese Yen on early Asia session has not been able to go strong after getting a big enough selling pressure in earlier trading after the announcement of the ECB tapering continuation of the American session yesterday. Despite the positive sentiment in early trading on the data BSI manufacturing index, which rose significantly, the yen was weighed by Fed rate hike sentiment that lifted the USDJPY pair until the evening session.

Technically USDJPY is moving up towards 114.78-115.41 and if failed will fall back to around 113.77 -112.92. So analysts argued that the normal range for USDJPY pair is estimated to have the support level at 112.41 and the resistance level at 115.41.

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The movement of USDJPY pair on Asian session rallied after the price of this pair opened higher at 115.03 in early trading (0000 GMT), and now the pair is at 115.16. Also about to break the strong resistance.

It seems that Yen on late Asia session retreat by the cessation of safe haven trading after the release of China's steady economic data exceeded expectations. Asian stock markets opened previously dropped by the fed rate hike concerns that triggered safe-haven trades.

Technically, this pair seems fall down towards 115.50-116.41 and if it did not get through 115.50 then USDJPY will fall back to around 114.50 -113.53. So the analyst suggests that USDJPY pair is estimated to have the support level at 112.77 and the resistance level at 116.75.