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JPY In The Week Ahead

This week we will hear once again from the BOJ as their press conference will be released this Wednesday.
We have already heard from several of the central banks and the trend has been some adjustments to their monetary policy due to lower oil prices. The BOJ is in a different position, however the press conference has potential to cause some volatility if there are any changes to the monetary policy.
Some of the Yen pairs like USDJPY and EURJPY already show a possible completed Wave cycle to th…
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USDJPY gains on the back of further easing from BOJ

The pair has seen a significant jump to close out the month as the BOJ have announced further measures in easing.
Although the pair is quite overbought as the annoucement came as a surprise (expectation was for the annoucement to come in Dec). Any form of dips will be bought on the pair.
Levels
109.87 - Previous High
113.95 - Weekly Support / Resistance
115.00 - Major Psychological level
115.93 - Fib expansion / Resistance
First chart simply shows a bollinger band breakout with a clear contracti…
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Jignesh avatar
Jignesh 5 Нояб.

After gapping higher to start the week, the USDJPY has continued full speed ahead with it's bullish momentum.  In fact, we are hovering around the monthly targets only a few days into the month.  Some of the other Yen Pairs are signalling a possible pull back.  For now 115 should offer an area of profit taking, but the potential this month to take out the targets for higher is a viable option.

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Jignesh 10 Нояб.

The pair made a high at 150.50 last week, which was not a level I was watching nor included in the analysis.  So far we've broken through the 1H trendline (from start of week).  Major resistance for the pair this week will be the 115 target price.  With some signals of USD weakness to end the past week we may see the pair pulling back towards 114 - 114.2

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Jignesh 17 Нояб.

CORRECTION: the previous comment was meant to read a high of 115.50 not 150.50

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Jignesh 17 Нояб.

After touching highs at 117.05 last week, the pair has started on a bearish tone on the back of a JPY risk event to start the week.  Currently the previous high area, and 50% of the last leg up confluences at 115.46-115.50.  This area can offer some intern support.  A break of this level will expose the monthly target level 115 which will also be support.  The USD is largely looking like it has been an intern top and targets are looking very likely for this pair.

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Jignesh 25 Нояб.

The pair is in a strong breakout and continues to post highs week after week.  The next main level of reistance will come at 120

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