The USD/JPY pair did almost nothing during the day on Monday, as we should see quite a bit of support just below. I believe that the 112 level will be very important, and if we can see above there we should continue to find buyers. If we can break above the 113 handle, we could go ahead and start reaching towards the 114 level again. Nonetheless, this will be a very choppy market, as we try to figure out what’s going on with Federal Reserve and how many interest rate hikes there will be for the rest of the year.link

Over the near-term, the return of inflation and a range of uncertainties, including European elections and protectionism should be supportive for the Japanese Yen.
Traders expect to see a lot of stop-loss selling if the USD/JPY breaks under 112.00.link

USDJPY DAILY

Its just over 10 days since the dollar has fallen and showing bearish candles , although the markets look pretty flat on the daily chart . We currently at a strong support at 111.500 (WS1) and bulls might look to enter anytime soon. We can also see that the markets has been ranging between 115.500 and 111.500 . The stochastic is currently sitting at oversold .

Source: 21-3-2017

USDJPY H4

As we see the current support holding up the price at the moment and the stochastic is sitting little above oversold , we might expect bulls to jump in the market and try to take the price up . Looking at the 21 and 55 EMAs , they confirm a bearish momentum and the speed between them is supporting the movement .

Source: 21-3-2017

USDJPY H1

Until we break through the WS1 or 111.500 support , bulls will keep trying to push the price up . If it happens that the price breaks through this current support , bulls will look for WM1 as their next support entry point.

Source: 21-3-2017

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