Written By : ForexAbode.com || Tuesday, 30 June 2015 06:02 GMT

USD/JPY Daily Analysis - June 30, 2015

Current Exchange Rate: 122.44 at the time of analysis update.

Intraday outlook: Mildly bearish outlook for USD/JPY.

USD/JPY dropped to a low of 121.94 and in doing so the pair broke the support of 55-day EMA. However, some psychological support of the approaching range of 120.00 was natural and that pushed the price up towards 122.60 .

Overall, though we expect some more gains initially but the short-term outlook stays bearish. Please note that the recent price-action pattern has been to have resistances near 5-period EMA on 4-hourly chart. Right at this moment USD/JPY is trying to break that level and we expect a break. However, The first level of resistance is expected in the zone of 122.60 to 123.73. In case there is a break over this resistance zone, then also we would expect the upside lbeing limited to 123.07 

On the downside 121.94 should extend the decline towards a strong support zone of 121.20 to 121.40 first and then towards 120.70. 

 

USD/JPY Daily and Hourly Charts

USD/JPY Hourly Chart      

USD/JPY analysis - hourly chart- June 30, 2015.

USD/JPY Daily Chart      

USD/JPY technical analysis - daily chart - June 30, 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

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 (Wednesday, 01 July 2015 04:29) 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 123.63 R3 123.18     R3 122.72
R2 123.18R2 122.88R2 123.21R2 122.64
R1 122.84 R1 122.69 R1 122.9 R1 122.57
Pivot 122.39 Pivot 122.39 Pivot 122.42 Pivot 122.39
S1 122.05 S1 122.09 S1 122.11 S1 122.43
S2 121.6 S2 121.9 S2 121.63 S2 122.36
S3 121.26 S3 121.6     S3 122.28
Open 122.67 Open 122.67 Open 122.67 Open 122.67
High 122.73 High 122.73 High 122.73 High 122.73
Low 121.94 Low 121.94 Low 121.94 Low 121.94
Close 122.50 Close 122.50 Close 122.50 Close 122.50

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.

Forex Trading Alerts subscription


Name:
Email:
Confirm Email:
9+12

We will send email alerts as soon as the Forex analysis is updated.
Request you to check the Junk (spam mail) folder immediately in case Google group mail is not received in Inbox.

Enter Forexabode Blog

Enter Forex Abode Community

Forex Rates