Written By : ForexAbode.com || Monday, 29 June 2015 05:48 GMT

USD/JPY Daily Analysis - June 29, 2015

Current Exchange Rate: 122.84 at the time of analysis update.

Intraday outlook: Mildly bearish outlook for USD/JPY.

USD/JPY fell strongly to 122.11 and in doing so it broke the 55-day EMA support. This support was breached first time since May 18th i.e after 41 days. The curreny pair recovered after that but the recovery was limited to below 123.25 support turned resistance (please check 4-hourly chart). Some sideways moves can beexpected but in case a resistance holds in the range of 123.25 to 123.32 and a break below 122.52 takes place then we would expect a retest of the recent 122.10 first and then 121.70.

 

USD/JPY Daily and Hourly Charts

USD/JPY Hourly Chart      

USD/JPY analysis - hourly chart- June 29, 2015.

USD/JPY Daily Chart      

USD/JPY technical analysis - daily chart - June 29, 2015.

Extended daily chart of USD/JPY

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

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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 (Tuesday, 30 June 2015 02:28) 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 123.94 R3 123.57     R3 122.82
R2 123.57R2 123.23R2 123.54R2 122.74
R1 123.07 R1 123.03 R1 123.02 R1 122.66
Pivot 122.7 Pivot 122.7 Pivot 122.67 Pivot 122.7
S1 122.2 S1 122.36 S1 122.15 S1 122.5
S2 121.83 S2 122.16 S2 121.8 S2 122.42
S3 121.33 S3 121.83     S3 122.34
Open 122.59 Open 122.59 Open 122.59 Open 122.59
High 123.19 High 123.19 High 123.19 High 123.19
Low 122.32 Low 122.32 Low 122.32 Low 122.32
Close 122.58 Close 122.58 Close 122.58 Close 122.58

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.

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