LMFX PAMM


Forex broker List

  • USD/JPY Forecast – US Dollar Could Extend Declines Vs Japanese Yen

    USD/JPY Forecast – US Dollar Could Extend Declines Vs Japanese Yen

    • – The US Dollar failed to move above the 110.90 level and declined against the Japanese Yen.
    • – There was a break below a short-term contracting triangle with support at 110.50 on the hourly chart of the USD/JPY pair.
    • – Recently in Japan, the Merchandise Trade Balance Total figure for May 2018 was released by the Ministry of Finance.
    • – The outcome was below the market forecast of ¥-235.0B as there was a trade deficit of ¥-578.3B.

     

    Japan’s Merchandise Trade Balance

    Recently in Japan, the Merchandise Trade Balance Total figure for May 2018 was released by the Ministry of Finance. The market was positioned for a trade deficit of ¥-235.0B in May 2018, compared with the last surplus of ¥626.0B.

     

    The actual result was below the market forecast of ¥-235.0B as there was a trade deficit of ¥-578.3B. Imports of goods and services in May 2018 increased 14.0% compared with the forecast of +8.2%. Moreover, the Exports of goods and services in May 2018 increased 8.1% compared with the forecast of +7.5%.

     

    The USD/JPY pair is currently trading near the 110.50 level and it seems like there is a risk of a downside move in the near term.

     

    USD/JPY Technical Analysis

    The US Dollar traded towards the 111.00 level recently against the Japanese Yen. The USD/JPY pair almost tested the 110.00 level and formed a high near 110.90. Later, there was a downside reaction and the pair declined below the 110.80 and 110.60 levels.

     

    USD/JPY Technical Analysis US Dollar Japanese Yen

     

    During the decline, there was a break below the 50% Fib retracement level of the last wave from the 109.91 low to 110.90 high. There was even a break below the 110.50 pivot level. However, the decline was protected by the 110.30 level.

     

    Moreover, the 61.8% Fib retracement level of the last wave from the 109.91 low to 110.90 high also acted as a support. The pair is currently recovering, but it seems like upsides might be capped by the 110.60 and 110.70 resistance levels.

     

    If there is a failure to move past 110.70, there could be a downside reaction. Supports on the downside are around 110.30 and 110.10, followed by 110.00.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • USD/JPY Forecast – US Dollar Dips Remain Supported Vs Japanese Yen

    USD/JPY Forecast – US Dollar Dips Remain Supported Vs Japanese Yen

    • – The US Dollar is in an uptrend above the 109.50 support against the Japanese Yen.
    • – There is a key bullish trend line formed with support at 109.60 on the hourly chart of the USD/JPY pair.
    • – Recently in Japan, the Monetary Base report for May 2018 was released by the Bank of Japan.
    • – The outcome was above the market forecast of +7.6% as the Monetary Base rose 8.1%.

     

    Japan’s Monetary Base

    Recently in Japan, the Monetary Base report for May 2018 was released by the Bank of Japan. The market was positioned for a rise of around 7.6% in the base compared with the last reading of 7.8%.

     

    The actual result was above the market forecast of +7.6% as the Monetary Base rose 8.1%, which was also higher compared with the last reading of 7.8%.

     

    The USD/JPY pair is currently trading in a positive zone and any dips towards the 109.50 level remains supported in the near term.

     

    USD/JPY Technical Analysis

    The US Dollar started a major upside move from the 108.50 pivot level against the Japanese Yen. The USD/JPY pair climbed higher above the 109.00 and 109.20 resistance levels, and also settled above the 100 hourly simple moving average.

     

    USD/JPY Technical Analysis US Dollar Japanese Yen

     

    The pair traded close to the 109.80 level and a high was formed at 109.76. Later, a downside move and the pair corrected lower towards 106.00. There is a key bullish trend line formed with support at 109.60 on the hourly chart of the USD/JPY pair.

     

    Moreover, the 23.6% Fib retracement level of the last wave from the 108.72 low to 109.76 high is positioned near the 109.51 level. Therefore if the pair breaks the trend line support, it could test 109.51.

     

    The chances of a downside break below 109.50 are very low. Should there be a break below 109.50, the pair could test the 50% Fib retracement level of the last wave from the 108.72 low to 109.76 high at 109.24.

     

    On the upside, the 109.75 level is a short term resistance. Above this, the USD/JPY pair could break the 110.00 level in the near term.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • USD/JPY Forecast – US Dollar Could Decline Further Vs Japanese Yen

    USD/JPY Forecast – US Dollar Could Decline Further Vs Japanese Yen

    • – The US Dollar remained in a downtrend and broke the 109.40 support against the Japanese Yen.
    • – There was a break below a major bullish trend line with support at 109.40 on the hourly chart of the USD/JPY pair.
    • – Recently in Japan, the Jobs/application ratio for April 2018 was released by the Japan Institute of Labor.
    • – The outcome was below the market forecast of 1.60 as the ratio was unchanged from 1.59.

     

    Japan’s Jobs/Application Ratio

    Recently in Japan, the Jobs/application ratio for April 2018 was released by the Japan Institute of Labor. The market was positioned for a rise in the ratio from the last reading of 1.59 to 1.60 in April 2017.

     

    The actual result was below the market forecast of 1.60 as the ratio was unchanged from 1.59. The unemployment rate also remained at 2.5%, which was in line with the market forecast.

     

    The USD/JPY pair is clearly under pressure and it seems like it could extend the current decline below the 109.00 level in the near term.

     

    USD/JPY Technical Analysis

    The US Dollar started a major downside move from the 110.00 handle against the Japanese Yen. The USD/JPY pair declined and broke a few key supports such as 109.60 to settle below the 100 hourly simple moving average.

     

    USD/JPY Technical Analysis US Dollar Japanese Yen

     

    During the downside move, there was a break below a major bullish trend line with support at 109.40 on the hourly chart of the USD/JPY pair. The pair traded below the 109.00 level and formed a new weekly low at 108.92.

     

    At the moment, the pair is consolidating losses and it recently tested the 23.6% Fib retracement level of the last decline from the 109.46 high to 108.92 low. It may correct a few more pips, but upsides are likely to be capped by the 109.20 and 109.30 levels.

     

    Moreover, the 50% Fib retracement level of the last decline from the 109.46 high to 108.92 low is at 109.19 to prevent upsides. Further above, there is a bearish trend line with resistance at 109.35, which may act as a strong hurdle for buyers. On the downside, the next major support sits at 108.50.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • USD/JPY Forecast – US Dollar Correcting Lower Vs Japanese Yen

    USD/JPY Forecast – US Dollar Correcting Lower Vs Japanese Yen

    • – The US Dollar started a downside correction after trading towards 111.40 against the Japanese Yen.
    • – There is a declining channel in place with resistance at 111.00 on the hourly chart of the USD/JPY pair.
    • – Recently in Japan, the Merchandise Trade Balance Total for April 2018 was released by the Ministry of Finance.
    • – The outcome was above the market forecast of ¥405.6B as the trade surplus was ¥626.0B.

     

    Japan’s Merchandise Trade Balance

    Recently in Japan, the Merchandise Trade Balance Total for April 2018 was released by the Ministry of Finance. The market was positioned for a trade surplus of ¥405.6B in April 2018, compared with the last ¥797.3B.

     

    The actual result was above the market forecast of ¥405.6B as the trade surplus was ¥626.0B. Looking at the Imports of goods and services, there was an increase of 5.9%, less than the forecast of +9.6% (YoY). Exports of goods and services rose 7.8%, less than the market expectation of +8.1%.

     

    The USD/JPY pair seems to be correcting lower towards the 110.60 support and the 100 hourly simple moving average.

     

    USD/JPY Technical Analysis

    The US Dollar gained a lot of traction during the past few days and moved above the 110.00 and 110.50 resistance levels against the Japanese Yen. The USD/JPY pair even broke the 111.00 level and settled above the 100 hourly simple moving average.

     

    USD/JPY Technical Analysis US Dollar Japanese Yen

     

    The pair traded as high as 111.39 before starting a downside correction. It moved down and broke the 50% Fib retracement level of the last wave from the 110.60 low to 111.39 high. There was even a close below the 111.00 support level.

     

    There is also a declining channel in place with resistance at 111.00 on the hourly chart of the USD/JPY pair. The pair may continue to trade towards the 110.70 support, the 76.4% Fib retracement level of the last wave from the 110.60 low to 111.39 high, and the 100 hourly SMA.

     

    However, the most important support is near the last swing low of 110.60. Therefore, any further declines in USD/JPY are likely to find supports on the downside near 110.70 and 110.60.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • USD/JPY Forecast – US Dollar Remains in Uptrend above 110.00 Vs Japanese Yen

    USD/JPY Forecast – US Dollar Remains in Uptrend above 110.00 Vs Japanese Yen

    • – The US Dollar placed nicely in a bullish zone above the 110.00 level against the Japanese Yen.
    • – There is a major bullish trend line forming with support at 110.20 on the hourly chart of the USD/JPY pair.
    • – Recently in Japan, the Gross Domestic Product for Q1 2018 was released by the Cabinet Office.
    • – The outcome was below the market forecast of 0% (QoQ) (Prelim) as there was a decline in the GDP by 0.2%.

     

    Japan’s Gross Domestic Product

    Recently in Japan, the Gross Domestic Product for Q1 2018 was released by the Cabinet Office. The market was positioned for no change in the GDP in Q1 2018 compared with the previous quarter.

     

    The result was below the market forecast of 0% (QoQ) (Prelim) as there was a decline in the GDP by 0.2%. In terms of the yearly change, Japan’s GDP declined by 0.6% (Prelim), which was below the forecast of 0%.

     

    The USD/JPY pair is trading with a positive bias above the 110.00 level and it may continue to move higher in the near term.

     

    USD/JPY Technical Analysis

    The US Dollar formed a support base near the 109.30 level against the Japanese Yen. The USD/JPY pair started an upside move and traded above the 109.50 and 110.00 resistance levels. It even settled above 110.00 and the 100 hourly simple moving average.

     

    USD/JPY Technical Analysis US Dollar Japanese Yen

     

    The pair traded as high as 110.45 before it faced sellers. It started a downside correction and declined below the 23.6% Fib retracement level of the last wave from the 109.81 low to 110.45 high. However, there are many supports on the downside above 110.00.

     

    There is also a major bullish trend line forming with support at 110.20 on the hourly chart of the USD/JPY pair. Moreover, the 38.2% Fib retracement level of the last wave from the 109.81 low to 110.45 high is currently acting as a support near 110.20.

     

    Therefore, as long as the pair is above 110.00, it remains in an uptrend. On the upside, an initial resistance is at 110.45, followed by the 110.80 level. On the downside, supports are at 110.20, 110.00 and 109.80.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • USD/JPY Forecast – US Dollar Approaching Key Break Vs Japanese Yen

    USD/JPY Forecast – US Dollar Approaching Key Break Vs Japanese Yen

    • – The US Dollar is trading with a positive bias above the 109.00 level against the Japanese Yen.
    • – There is a key bullish trend line forming with support at 109.20 on the hourly chart of the USD/JPY pair.
    • – Recently in Japan, the Nikkei Manufacturing PMI (final reading) for April 2018 was published.
    • – The outcome was above the market forecast of 53.3 as there was a rise in the PMI from 53.3 to 53.8.

     

    Japan’s Nikkei Manufacturing PMI

    Recently in Japan, the Nikkei Manufacturing PMI (final reading) for April 2018 was published. The market was positioned for no change in the PMI from the last reading of 53.3.

     

    The result was above the market forecast of 53.3 as there was a rise in the PMI from 53.3 to 53.8. More importantly, Output growth quickens to three-month high in April 2018. The report added:

     

    A twenty-first consecutive month of rising production in the Japanese manufacturing sector was recorded in April. The rate of growth in output was solid overall and the fastest since January.

     

    The USD/JPY pair remains in an uptrend and it seems like the pair is approaching a crucial upside break above 109.50 in the near term.

     

    USD/JPY Technical Analysis

    The US Dollar started a decent upside move from the 107.60 swing low against the Japanese Yen. The USD/JPY pair traded higher and broke many hurdles such as 108.00 and 109.00 to settle above the 100 hourly simple moving average.

     

    USD/JPY Technical Analysis US Dollar Japanese Yen

     

    The pair recently traded as high as 109.54 before starting a downside correction. It declined below the 38.2% Fib retracement level of the last wave from the 108.53 low to 109.54 high. However, the decline was protected by the 109.00 support and the 50% Fib retracement level of the last wave from the 108.53 low to 109.54 high.

     

    It seems like the pair is forming a breakout pattern with resistance near 109.50 and support at 109.00. There is also a key bullish trend line forming with support at 109.20 on the hourly chart of the USD/JPY pair.

     

    The current price action suggests that the pair is likely to move above the 109.50 resistance to register further gains in the near term. The next hurdle on the upside is at 110.00.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • USD/JPY Forecast – US Dollar Could Test 108.00 Vs Japanese Yen

    USD/JPY Forecast – US Dollar Could Test 108.00 Vs Japanese Yen

    • – The US Dollar is moving higher and is currently placed nicely above 107.70 against the Japanese Yen.
    • – There is a crucial ascending channel forming with support at 107.65 on the hourly chart of the USD/JPY pair.
    • – Recently in Japan, the Nikkei Manufacturing PMI for April 2018 (Prelim) was released.
    • – The outcome was above the market forecast of 52.6 as there was a rise in the PMI from 53.1 to 53.3.

     

    Japan’s Nikkei Manufacturing PMI

    Recently in Japan, the Nikkei Manufacturing PMI for April 2018 (Prelim) was released. The market was positioned for a decline in the PMI from the last reading of 53.1 to 52.6 in April 2018.

     

    The result was above the market forecast of 52.6 as there was a rise in the PMI from 53.1 to 53.3. All three key areas – Output, new orders and employment increased at a faster rate. Joe Hayes, Economist at IHS Markit, stated:

     

    Survey data depicted a positive backdrop in the Japanese manufacturing sector during April. The improvement in the headline PMI was underpinned by stronger rates of growth in output, new orders and employment. Furthermore, business confidence strengthened, while output prices were hiked to a stronger degree, signalling optimism in demand conditions.

     

    The USD/JPY pair was not impacted much and it remains in a bullish zone towards the 108.00 level in the near term.

     

    USD/JPY Technical Analysis

    The US Dollar formed a decent support above 106.80 against the Japanese Yen, and started an upside move. The USD/JPY pair gained pace, broke many resistances such as 107.00 and 107.50, and settled above the 100 hourly simple moving average.

     

    USD/JPY Technical Analysis US Dollar Japanese Yen

     

    The pair recently traded above the 76.4% Fib retracement level of the last drop from the 107.77 high to 106.88 low. More importantly, it is currently trading a few pips above the last swing high at 107.77.

     

    This means the pair may perhaps continue to move higher and it could test the 1.236 fib extension of the last drop from the 107.77 high to 106.88 low. It could even test the 108.00 resistance level in the near term.

     

    On the downside, there are many supports above 107.50. There is also a crucial ascending channel forming with support at 107.65 on the hourly chart of the USD/JPY pair. Therefore, any dips toward 107.50 remains supported.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • USD/JPY Forecast – US Dollar Could Breakdown Vs Japanese Yen

    USD/JPY Forecast – US Dollar Could Breakdown Vs Japanese Yen

    • – The US Dollar is trading below the 107.00 level and it remains at a risk of more losses against the Japanese Yen.
    • – There is a major bearish trend line forming with resistance near 107.25 on the hourly chart of the USD/JPY pair.
    • – Recently in Japan, the Money Supply M2+CD report for March 2018 was released by the Bank of Japan.
    • – The outcome was around the market forecast as there was a rise of 3.2% in the Money Supply M2+CD.

     

    Japan’s Money Supply M2+CD

    Recently in Japan, the Money Supply M2+CD report for March 2018 was released by the Bank of Japan. The market was positioned for a rise of 3.2% in the Money Supply M2+CD in March 2018 compared with the same month a year ago.

     

    The result was around the market forecast as there was a rise of 3.2% in the Money Supply M2+CD. However, the last reading was revised down from 3.3% to 3.2%.

     

    The USD/JPY pair is currently struggling to move higher and it seems like it may decline further towards or below 106.60 in the near term.

     

    USD/JPY Technical Analysis

    The US Dollar struggled a lot to break the 107.40 resistance area against the Japanese Yen. The USD/JPY pair made many attempts to move past 107.40-50, but buyers failed to gain momentum which resulted in a downside move.

     

    USD/JPY Technical Analysis US Dollar Japanese Yen

     

    On the downside, the 106.65 zone is acting as a strong support. The pair recently traded as low as 106.64 and corrected higher above 38.2% Fib retracement level of the last decline from the 107.39 high to 106.64 low. However, the upside move was capped by the 107.05 level and the 100 hourly simple moving average.

     

    Moreover, the pair failed to break the 50% Fib retracement level of the last decline from the 107.39 high to 106.64 low. The pair is under pressure and it seems like it could retest the 106.65 support.

     

    If sellers remain in control, there is a chance of a downside break in the near term. The next support sits at 106.20. On the upside, there is also a major bearish trend line forming with resistance near 107.25 on the hourly chart, which is a crucial barrier for buyers.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • USD/JPY Forecast – US Dollar Could Decline Further Vs Japanese Yen

    USD/JPY Forecast – US Dollar Could Decline Further Vs Japanese Yen

    • – The US Dollar traded towards 107.00 before starting a downside move against the Japanese Yen.
    • – There is a declining and expanding triangle forming with resistance near 106.25 on the hourly chart of the USD/JPY pair.
    • – Recently in Japan, the Monetary Base report for March 2018 was released by the Bank of Japan.
    • – The outcome was below the market forecast of +9.6% as there was a rise in the base by 9.1%.

     

    Japan’s Monetary Base

    Recently in Japan, the Monetary Base report for March 2018 was released by the Bank of Japan. The market was positioned for a rise of 9.6% in the Monetary Base in March 2018 compared with the same month a year ago.

     

    The result was below the market forecast of +9.6% as there was a rise in the base by 9.1%. This was also below the last increase of 9.4%. The overall result was positive, but it missed the expectation.

     

    The USD/JPY pair is currently correcting higher, but it will most likely face resistance on the upside near the 106.20-25 area.

     

    USD/JPY Technical Analysis

    The US Dollar traded higher this past week and moved above the 106.50 level against the Japanese Yen. The USD/JPY pair traded towards the 107.00 level where it faced selling interest, and later a downside move was initiated.

     

    USD/JPY Technical Analysis US Dollar Japanese Yen

     

    The pair declined and traded below the 106.50 support and the 100 hourly simple moving average. It traded as low as 105.65 and it is currently correcting higher. At the moment, the 38.2% Fib retracement level of the last decline from the 106.44 high to 105.65 low is acting as a resistance.

     

    More importantly, there is a declining and expanding triangle forming with resistance near 106.25 on the hourly chart. Below the triangle resistance, the 61.8% Fib retracement level of the last decline from the 106.44 high to 105.65 low is at 106.14 to act as a hurdle.

     

    If the pair corrects further higher, it is likely to face sellers on the upside near the 106.20-25 levels. On the downside, a break below the 105.80 support may call for a retest of 105.65. Below 106.65, the pair may even test the 105.20 level.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • USD/JPY Forecast – US Dollar Approaching Crucial Resistance Vs Japanese Yen

    USD/JPY Forecast – US Dollar Approaching Crucial Resistance Vs Japanese Yen

    • – The US Dollar started a new upside wave from the 104.63 swing low against the Japanese Yen.
    • – There was a break above a key bearish trend line with resistance near 104.85 on the hourly chart of the USD/JPY pair.
    • – Recently in Japan, the Corporate Service Price Index (CSPI) for Jan 2018 was released by the Bank of Japan.
    • – The outcome was below the market forecast of +0.7% as there was a rise in the index by 0.6%.

     

    Japan’s Corporate Service Price Index

    Recently in Japan, the Corporate Service Price Index (CSPI) for Jan 2018 was released by the Bank of Japan. The market was positioned for a rise of 0.7% in the CSPI, similar to the last reading.

     

    The result was below the market forecast of +0.7% as there was a rise in the index by 0.6%. Moreover, looking at the Services Producer Price Index (All items <excluding International transportation>), it posted an increase of 0.6% from the previous year.

     

    The USD/JPY pair remains in a decent uptrend, but the pair is now approaching a crucial barrier near the 105.75-85.

     

    USD/JPY Technical Analysis

    The US Dollar formed a decent support after a major decline towards the 104.50 level against the Japanese Yen. The USD/JPY pair started an upside move and traded above the 105.00 resistance level to set the pace for more gains.

     

    USD/JPY Technical Analysis US Dollar Japanese Yen

     

    The pair recently also traded above the 38.2% Fib retracement level of the last decline from the 106.63 high to 104.63 low. The upside move was positive since the pair broke a key bearish trend line with resistance near 104.85 on the hourly chart.

     

    The pair also succeeded in trading above 105.20 and the 100 hourly simple moving average. At the moment, the pair is flirting with the 50% Fib retracement level of the last decline from the 106.63 high to 104.63 low.

     

    On the upside, the previous support area at 105.75 is likely to act as a major hurdle along with another bearish trend line with current resistance at 105.85. The overall bias is positive above 105.00, but it won’t be easy for buyers to break the 105.75-85 resistance.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

Join Our Newsletter:

US & Canadian Traders Welcome Make the trade