Written By : ForexAbode.com || Monday, 15 June 2015 04:56 GMT

USD/JPY Daily Analysis - June 15, 2015

Current Exchange Rate: 123.62 at the time of analysis update.

Intraday outlook: Neutral outlook for USD/JPY.

 

The intraday outlook remains neutral for USD/JPY. The price-action is contained within a symmetrical triangle and though we favor an upward breakout but would avoid trading for short-term positions. On the downside a break below 123.10 to 123.25 support zone is important to bring further consolidation towards 122.46 to 122.60 support zone but on the upside any break over 123.82 will indicate the resumption of the uptrend. 

Overall we expect 125.00 level to act as a psychological resistance in the mid-term and with that intact we expect some volatile sideways moves in the coming days.

 

USD/JPY Daily and Hourly Charts

USD/JPY Hourly Chart      

USD/JPY analysis - hourly chart- June 15, 2015.

USD/JPY Daily Chart      

USD/JPY technical analysis - daily chart - June 15, 2015.

Daily price action of USD/JPY in a symmetrical triangle pattern.

The Forex technical analysis for USD/JPY is updated daily. Please check the update time at the top before taking any action.

Further Resources and notes

Note 1: Please subscribe to the analysis newsletter so that we can send email alerts as soon as we update the the same.

Note 2: Please also take a look at USD/JPY forecast or mid-term term trading approach updated on the weekends.

You may also check the  updates for USD/JPY market sentiments.

USD/JPY Interest Rate comparison
(For Carry Trades)
US dollar (USD) interest rate
0.25%
Japanese yen (JPY) interest rate
0.10%
USD/JPY interest Rate Comparison
0.15%

USD/JPY Resistance and Support with Daily Pivot Points (Values at GMT 00:00)

Last Updated (Monday, 15 June 2015 06:32) GMT

Standard Pivot Point for USD/JPY Fibonacci Pivot Point for USD/JPY Woodie Pivot Point for USD/JPY Camarilla Pivot Point for USD/JPY
R3 124.48 R3 124.15     R3 123.62
R2 124.15R2 123.89R2 124.14R2 123.56
R1 123.79 R1 123.72 R1 123.78 R1 123.49
Pivot 123.46 Pivot 123.46 Pivot 123.45 Pivot 123.46
S1 123.1 S1 123.2 S1 123.09 S1 123.37
S2 122.77 S2 123.03 S2 122.76 S2 123.3
S3 122.41 S3 122.77     S3 123.24
Open 123.60 Open 123.60 Open 123.60 Open 123.60
High 123.82 High 123.82 High 123.82 High 123.82
Low 123.13 Low 123.13 Low 123.13 Low 123.13
Close 123.43 Close 123.43 Close 123.43 Close 123.43

USD/JPY's Correlation with other currency majors

USD/JPY Correlation Values:
 
USD/JPY
P
e
r
i
o
d
U
S
D
/
J
P
Y
AUD
/USD
EUR
/CHF
EUR
/GBP
EUR
/JPY
GBP
/USD
NZD
/USD
USD
/CAD
USD
/CHF
EUR
/USD
1
W
e
e
k
1 -0.31 0.86 -0.18 0.85 0.25 -0.83 0.08 0.4 0.02
1
M
o
n
t
h
1 0.64 0.73 -0.18 0.67 -0.21 -0.86 0.29 0.68 -0.63
1
Y
e
a
r
1 -0.2 -0.47 -0.6 0.94 0.69 0.49 0.66 -0.68 0.69

USD/JPY Correlation Graph:
 
-0.31
   
-0.2
   
 
0.86
   
-0.47
   
 
-0.18
   
-0.6
   
 
0.85
   
0.94
   
 
0.25
   
0.69
   
 
-0.83
   
0.49
   
 
0.08
   
0.66
   
 
0.4
   
-0.68
   
 
0.02
   
0.69
   
   
0.31
   
0.2
 
   
0.86
   
0.47
 
   
0.18
   
0.6
 
   
0.85
   
0.94
 
   
0.25
   
0.69
 
   
0.83
   
0.49
 
   
0.08
   
0.66
 
   
0.4
   
0.68
 
   
0.02
   
0.69

Notes and caution about Forex analysis for USD/JPY

The daily USD/JPY analysis is not just based on technical indicators but also takes into account the overall price action and other aspects which can affect the Forex market in general and USD/JPY price action specifically. Please also note that many times the price mentioned at the time of analysis update maybe different than the entry level suggested. These positions would mean limit orders for buying or short-selling. Hence please do not treat this analysis just as trading signals for USD/JPY.

However, please note that the analysis reflects our views about the currency market based various factors. Forex trading is a speculative market and the price may always have unpredictable moves. We cannot take the responsibility for any losses dues to and positions taken based on our views.

Please check the current USD/JPY Exchange Rate.

You may also check and share any Real-Time USD/JPY Trades in Forum.

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