{"id":63514,"date":"2014-11-11T09:33:25","date_gmt":"2014-11-11T14:33:25","guid":{"rendered":"http:\/\/countingpips.com\/?p=63514"},"modified":"2014-11-11T09:41:17","modified_gmt":"2014-11-11T14:41:17","slug":"usdjpy-breaks-resistance-new-target-at-117-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/11\/usdjpy-breaks-resistance-new-target-at-117-50\/","title":{"rendered":"USD\/JPY Breaks Resistance; New Target At 117.50"},"content":{"rendered":"<div id=\"inves-3111570491\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 11, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bullish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>JPY suffers across the board as Consumer Confidence in October falls to 38.9;<\/li>\n<li>Japan Economy Watchers Sentiment came out at 44.0, well below the expected 49.2;<\/li>\n<li>USD\/JPY eyes more gains after breaking above the 115.50 resistance.<\/li>\n<\/ul>\n<p><em>Market participants are showing renewed interest in selling JPY across the board, with USD\/JPY already priced above a major resistance level.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/11\/USDJPY11thNovember.jpg\" alt=\"USDJPY11thNov\" \/><\/p>\n<p>Late last week, USD\/JPY showed several weakness signals post-NFP, forming a double top reversal pattern over the course of two days. This weakness was followed by a moderate drop down to 113.82, approximately 170 pips from top to bottom; as a result we cannot complain that pattern didn\u2019t pan out as planned, at least in intraday trading.<\/p>\n<p>Since the 10th\/11 U.S. trading session, however, buying momentum began building again at a steady pace, lifting USD\/JPY up to last week\u2019s resistance and ultimately above. Spot is currently trading around 115.60, as the pair is about the re-test 115.50 from above. If this level holds and USD\/JPY continues to trade above resistance, traders will focus on 117.50\/60 next, a price pivot level dating back to 2007, which could also be an intermediary target on the way towards 120.00 in the long term.<\/p><div id=\"inves-4038416271\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>Stochastic is warning of extreme overbought conditions on all major timeframes, but with no price action signs confirming a correction and while the Higher Highs &amp; Higher Lows swing configuration holds, buying dips and resistance breakouts remains the preferred strategy for USD\/JPY.<\/p>\n<p>*********<\/p>\n<p>Prepared by Alex, Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bullish Key Takeaways JPY suffers across the board as Consumer Confidence in October falls to 38.9; Japan Economy Watchers Sentiment came out at 44.0, well below the expected 49.2; USD\/JPY eyes more gains after breaking above the 115.50 resistance. Market participants are showing renewed interest in selling JPY across the board, with USD\/JPY [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-63514","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=63514"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63514\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=63514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=63514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=63514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}