{"id":16028,"date":"2010-11-29T08:15:40","date_gmt":"2010-11-29T13:15:40","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=16028"},"modified":"2010-11-29T08:15:40","modified_gmt":"2010-11-29T13:15:40","slug":"usdjpy-looks-to-correct-gains","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/11\/29\/usdjpy-looks-to-correct-gains\/","title":{"rendered":"USD\/JPY Looks to Correct Gains"},"content":{"rendered":"<p><strong>By Yan Petters <\/strong>&#8211; The USD\/JPY pair saw quite a consistent bullish trend during the past  month. The pair gained about 400 pips during the last four weeks,  rising from the 80.20 level up to the 84.20 level on Friday. However,  after the pair failed to breach through the 84.20 level it began  correcting gains, and is now trading near the 83.90 level. The bearish  correction is likely to extend today, with potential to reach the 83.00  level.<\/p>\n<p>\u2022 The chart below is the USD\/JPY 4-hour chart by ForexYard.<br \/>\n\u2022 There is a very distinct bearish channel formed on the 4-hour chart, and the pair is now floating in its bottom.<br \/>\n\u2022 The pair recently reached as high as the 84.20 level, yet this appears to have initiated a mild bearish correction.<br \/>\n\u2022 The Slow <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Stochastic<\/a> has just completed a bearish cross above the 80-line, indicating that a bearish correction might take place.<br \/>\n\u2022 In addition, the <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">RSI<\/a> is now pointing down, reaching towards the 70-line. If the RSI will  cross the 70-line, it is likely to validate the bearish move.<br \/>\n\u2022 The next <a href=\"http:\/\/www.forexyard.com\/en\/price-support-levels\">support levels<\/a> are located at the 83.80, 83.50 and 83.00 levels.<br \/>\n\u2022 The next <a href=\"http:\/\/www.forexyard.com\/en\/price-resistance-levels\">resistance levels<\/a> are found at the 84.20, 84.90 and 85.30 levels.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/11\/USD-JPY.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/11\/USD-JPY.bmp\" alt=\"\" width=\"588\" height=\"613\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                                                                                                                               may         not       be                      suitable             for             all                                       investors.                        There             is     a                                                                      possibility                          that                                   you                     could                              sustain  a             loss                  of       all                of                 your                                                             investment         and                                                   therefore        you                                        should             not                              invest                               money            that              you                                          cannot                          afford   to                                   lose.          You                                      should              be                     aware             of                           all                  the                risks                                                  associated                   with                         Foreign                                    Exchange                                       trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The USD\/JPY pair saw quite a consistent bullish trend during the past month. The pair gained about 400 pips during the last four weeks, rising from the 80.20 level up to the 84.20 level on Friday. However, after the pair failed to breach through the 84.20&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-16028","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=16028"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16028\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=16028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=16028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=16028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}