USDJPY trend analysis Monday, June 28

USDJPY trend analysis Monday, June 28

The short-term trend of the US dollar against the Japanese yen(USDJPY) is neutral. As long as 109.70 support holds its position, we can expect another uptrend. With the break of 111.10, the key resistance of 111.71 will be the next target of the USDJPY. The break of this resistance could trigger a deep uptrend and move the market to the estimated 61.8% Fibonacci at 112.64. However, from the traders' point of view, if the pair crosses below the support of 109.70, the short-term trend of USDJPY will decline to the support of 107.47.

 

 

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Weekly Analysis: Will USDJPY reach the bottom of the downtrend channel?

USDJPY Thursday, February 11

USDJPY currency pair trend

 

Weekly Analysis: Will USDJPY reach the bottom of the downtrend channel?

Weekly Analysis: Will USDJPY reach the bottom of the downtrend channel?

In late 2016, the USDJPY entered the long-term bearish channel after hitting 118.66 and fell to the bottom of the channel at 101.18. Also, from early July 2020 to January 29, the USDJPY entered a medium-term downtrend channel in which the pair moved to a moving average after breaking the channel ceiling. USDJPY is supported by the 105.00 trend rate and has reached the partial resistance of 106.75 after breaking the average of 50.
In this week's trading, if the USDJPY faces buying pressures and crosses the above resistance level of 106.75, the market will move up to the long-term average of 200 at the trend level of 108.00 and then the long-term downtrend channel.

USDJPY

USDJPY currency pair trend

The short-term trend of the US dollar against the Japanese yen is neutral. The USDJPY pair is in the downtrend channel starting from 111.71. Hence, we can expect a deep downward movement from the market. If USDJPY falls below 103.31, it could prepare for a reversal to the 102.58 price floor. However, from the buyers' point of view, the break of 104.39 and the downtrend channel will mark the end of the downtrend starting from 111.71 and can push the USDJPY to the resistance of 105.67.