Posts tagged ‘usd jpy’

February 17, 2012

USD/JPY nears the post-intervention spike at 79.55

On Thursday, the post-BoJ rally of USD/JPY continued unabated. Almost all news was considered USD/JPY supportive. In Europe, the dollar profited from uncertainty on the Greek debt deal. Later in the session, USD/JPY was the exception to a broadbased correction of the dollar as sentiment on risk improved. USD/JPY closed the session at 78.94, compared to 78.43 on Wednesday evening.

Overnight, USD/JPY cleared the 79.00 barrier. This time, the constructive sentiment on risk continued to support the USD/JPY cross rate. The pair might get further support from a rise in core bond yields. So, a test of the key 79.55 (post intervention high) might be on the cards.

Support S1: 78.97: Previous reaction high S2: 78.50 STMA S3: 7820 Break-up area S4: 77.47/36 Reaction low

Resistance R1: 79.11: Reaction high R2: 79.55 : Intervention spike R3: 80.24: August high

February 16, 2012

USD/JPY vulnerable above 78.80

By Charmer Charts

The USD/JPY kept adding gains to 78.80, but Charmer Charts analysts advise taking profit there for now: “We are overextended on the short and med term charts therefore any move beyond 78.80 is looking a bit on the vulnerable side”, says Carol Harmer.

On the downside, she says: “We would look for weakness to hold the 78.30/15 support and we would re-enter longs, keeping stops below 77.90”, while after the correction, a move higher will bring the USD/JPY to 79.60, Nov-2011 highs.

February 15, 2012

USD/JPY finds support

After falling around 40 pips in the American session from 78.60/70 high zone to break 78.40 support and reach intra-day low at 78.18, the USD/JPY seems to have found support at this level with the pair moving in range between 78.20 and 78.35 where the january 25th high placed at 78.28

February 15, 2012

USD/JPY breakout: volatilities higher

From Dow Jones:

” The USD/JPY breakout drives volatilities higher, with Tuesday’s break to the topside extended in Asia Wednesday, as the pair hit 78.67–the highest since the post-intervention spike at the end of October. Investors have taken fright on this latest move, taking the entire implied volatility curve higher. One-month is up 0.5 of a point and back to the levels at the beginning of the month at 8.25%. Three-month is trading 0.3 of a point firmer from Tuesday at 8.65%. Twelve-month adds 0.1 of a point to trade at 10.9% in Europe Wednesday. With sentiment gauges trading in favor of JPY puts, further gains in USD/JPY will take the curve higher. USD/JPY trades at 78.48.”