News

- News
  - News
  - Weekly View
- Daily Reports
- Articles
- Dashboard
- Videos
  - Whiteboard Wednesday
  - Market Commentary
- Tools
- Webinars
Notification
You don't have new notification!
Clear all
Login
Register

Login to Market Insight Account

Your Market Insight account gives you access to the tools that we offer our customers including our
Technical Studies & Sentiment for your accounts.

Remember Me Forgot Password?

Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

Create a Market Insight's Account

Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

I confirm I have read and understood the GKFX Privacy Policy, agree to the supporting Terms Of Use and consent to being contacted by phone or email with regards to GKFX services and for marketing purposes. I understand that I can opt out of marketing communication following the submission of my application.

Thank you!

Welcome to Market Insight family!

You have succesfully completed the registration. We will send you an e-mail to give you some instructions and our Terms and Conditions!
Our account representatives will be contacting you as soon as possible. If you have any further questions please do not hesitate to
mail us via support@gkfx.com

News

USD/JPY Price Analysis: Rallies sharply towards 135.00 on buyers stepping in, eyeing the 20-DMA

The USD/JPY rises for the third time during the week, reaching a fresh weekly high at 135.50, spurred by positive US jobs data released on Friday, whi | 05/08/2022 18:54

The USD/JPY is soaring during the week by almost 1.50%.
A bullish-engulfing candle pattern in the daily chart opens the door for further gains.
In the near term, a pullback towards 134.00 is on the cards.

The USD/JPY rises for the third time during the week, reaching a fresh weekly high at 135.50, spurred by positive US jobs data released on Friday, which caused a knee-jerk reaction of almost 200 pips, from around 133.07 to its aforementioned weekly high. At 135.06, the USD/JPY gains 1.66%.

USD/JPY Price Analysis: Technical outlook

USD/JPY’s Friday price action shows that the major formed a huge bullish-engulfing candle pattern, meaning buying pressure is stepping in. At the same time, the exchange rate sits above the 50-day EMA at 134.84, which, decisively broken, could pave the way towards the 20-day EMA at 136.04. Worth noting that buyers are gathering momentum, as shown by the Relative Strength Index (RSI), about to cross the 50-central line, another reason for sellers to get out of the way once buyers have regained control.

Therefore, the USD/JPY’s first resistance would be the 135.00 figure, followed by the 20-day EMA at 136.04, and then the June 22 daily high at 136.71.

USD/JPY Daily Chart

Meanwhile, the USD/JPY hourly chart illustrates the major faced resistance near the R3 pivot at 135.60, dipping towards the R2 daily pivot point at 135.00, where bids keep the pair above the 135.00 figure. Nevertheless, the uptrend appears to be losing steam, as the Relative Strength Index reached overbought territory, meaning that buying pressure is easing, so a pullback towards the R1 daily pivot around 133.94 is on the cards.

USD/JPY Hourly chart

USD/JPY Key Technical Levels

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

GKFX Team Make Better Trading Decisions

David Morrison The week ahead

Eleanor Bridger Update: ECB Extends Tapering Program

Chaminda Ranasinghe

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

ForexF
IndicesI
CommoditiesC

Login to Market Insight Account

Create a Market Insight's Account

Thank you!

News

USD/JPY Price Analysis: Rallies sharply towards 135.00 on buyers stepping in, eyeing the 20-DMA

The USD/JPY rises for the third time during the week, reaching a fresh weekly high at 135.50, spurred by positive US jobs data released on Friday, whi | 05/08/2022 18:54

USD/JPY Price Analysis: Technical outlook

USD/JPY Key Technical Levels

Share

Popular News

According to FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, USD/CNH is expected to keep navigating the 6.7350-6.8000 range for the time b | 08/08/2022 09:06

Silver attracts some dip-buying near the $19.80 region on Monday and recovers further from over a one-week low set in the previous session. The white | 08/08/2022 08:58

Considering advanced prints from CME Group for natural gas futures markets, open interest shrank for the second session in a row on Friday, now by nea | 08/08/2022 08:52

Further upside momentum could lift USD/JPY back to the 136.00 region in the next weeks, note FX Strategists at UOB Group Lee Sue Ann and Quek Ser Lean | 08/08/2022 08:32

EUR/USD continues to trade below 1.02 at the beginning of the week. The pair is set to remain soft within a 1.01-1.03 range, analysts at ING report. I | 08/08/2022 08:21

The dollar starts the new week on the firm side after some impressive US July jobs figures on Friday. Firm US July CPI data this week can see the doll | 08/08/2022 08:15

Economists at ING have been bearish on EUR/USD this year, but not bearish enough. They are cutting their EUR/USD forecast by roughly 4-5% across 2022- | 08/08/2022 07:09

CME Group’s flash data for crude oil futures markets noted open interest shrank for the second session in a row on Friday, this time by almost 30K con | 08/08/2022 08:07

Gold plunged down to support levels near $1,772, after the release of much stronger-than-expected US July payrolls data. In the view of strategists at | 08/08/2022 08:05

FX option expiries for August 8 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: EUR amounts 1.0100-05 692m 1.0175 234m 1.0200-0 | 08/08/2022 08:04

The AUD/USD pair builds on Friday's late bounce from the 0.6870 area, or over a two-week low, and gains some positive traction on the first day of a n | 08/08/2022 07:05

Here is what you need to know on Monday, August 8: Boosted by the upbeat July jobs report, the US Dollar Index (DXY) gained 0.8% on Friday and ended u | 08/08/2022 08:02

Austria Trade Balance rose from previous €-2146.9M to €-1576.7M in June | 08/08/2022 07:01

Gold price (XAU/USD) pares intraday losses at around $1,775 amid the initial Monday morning in Europe. The yellow metal’s latest rebound could be link | 08/08/2022 08:01

Extra downside in AUD/USD now appears limited around the 0.6855 level, comment FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang. Key Quotes | 08/08/2022 07:51

European companies’ return on equity (RoE) will inevitably decline in the future due to four reasons. These developments will result in significant c | 08/08/2022 07:49

Gold is trading slightly below $1,780. This mark aligns as a key technical level for XAU/USD, FXStreet’s Eren Sengezer reports. First support is locat | 08/08/2022 07:41

Gold started the month of August on a firm footing and climbed toward $1,800 before erasing a portion of its weekly gains on Friday. According to FXSt | 08/08/2022 07:32

Open interest in gold futures markets remained erratic on Friday and dropped by nearly 7K contracts, according to preliminary readings from CME Group. | 08/08/2022 07:21

Steel price regains upside momentum, after Friday’s pullback to a one-week low, as concerns surrounding short-term supply deterioration join nearby de | 08/08/2022 07:14

In the opinion of FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, GBP/USD risks a deeper pullback on a breach of the 1.2000 yardstick. Key | 08/08/2022 07:09

The USD/JPY pair is addressing an inventory distribution phase after a perpendicular upside move from the critical support of 133.00. Auctioning in an | 08/08/2022 07:06

Gold price witnessed a dramatic U-turn from monthly highs on Friday. XAU/USD could challenge $1,750, with big Fed rate hike bets back in play, FXStree | 08/08/2022 07:00

Denmark Industrial Production (MoM) fell from previous 2.8% to 1.1% in June | 08/08/2022 06:00

Norway Manufacturing Output up to 0.3% in June from previous -2.2% | 08/08/2022 06:00

USD/CAD renews intraday low near 1.2930 as the bulls take a breather after posting the biggest run-up in three weeks heading into Monday’s European se | 08/08/2022 06:50

Switzerland Unemployment Rate s.a (MoM) in line with forecasts (2.2%) in July | 08/08/2022 05:45

The GBP/USD pair is displaying back and forth moves in a narrow range of 1.2048-1.2080 in the early Tokyo session. The cable has displayed a pullback | 08/08/2022 06:37

Analysts at Goldman Sachs note that they stick to their call of a 50 bps rate hike by the Reserve Bank of New Zealand next week, despite a modest easi | 08/08/2022 06:35

FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang expect EUR/USD to remain side-lined within the 1.0100-1.0300 range in the next few weeks. K | 08/08/2022 06:22

Sentiment

Market Insight's Views

Market Insight

Social Media

RISK WARNING

Login to Market Insight Account

Create a Market Insight's Account

Thank you!