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USD/JPY : Elections in Japan lead to the resumption of the uptrend


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#1 ⇑ Haut ⇑ 15-11-2012 09:49:39

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USD/JPY : Elections in Japan lead to the resumption of the uptrend

Elections in Japan of December 16th give as winner the right political party who is for a new monetary easing without any limits with an objective of inflation at 2 or 3%.

This led to a strong bullish rally on the pair USD/JPY who got back above 80, giving us a buy signal. Currently, the price is testing the next resistance at 81 and just got out of its medium term bullish channel (black lines) from the top (after a false exit from the bottom).

We advise to trade only long positions as far as 80.20 is support. The breakout of 81 will give a new buy signal and will open the way towards 81.50 and 82 in extension.

In case of return below 80.20, we will be neutral between this level and 79.76 (level of the lower band of the channel).

USD/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-15112012.png

USD/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-15112012-2.png







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#2 ⇑ Haut ⇑ 19-11-2012 09:10:48

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Re: USD/JPY : Elections in Japan lead to the resumption of the uptrend

The Yen continues to depreciate againt the US Dollar. The price is now moving above its medium term bullish channel (black lines) and got over the resistance at 81, giving us a new buy signal. Howerer, the pair USD/JPY seems to make a break into its bullish rally and is moving since November 15th between the support at 81 and the resistance at 81.50. Despite this, the price has opened the week on a small bullish gap.

We continue to advise long positions as far as 80.75 is support. The breakout of 81.50 will give a new buy signal and should allow the price to reach the next resistance at 82.

In case of return below 80.75, we will be neutral between this level and 80.25.

USD/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-19112012.png

USD/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-19112012-2.png




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#3 ⇑ Haut ⇑ 21-11-2012 09:29:24

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Re: USD/JPY : Elections in Japan lead to the resumption of the uptrend

A new bullish wave has occured on the pair USD/JPY who started its bullish rally in November 14th. The price broke yesterday the resistance at 81.50 and is currently testing the next resistance at 82. On the short term, the movement seems to be lead by a bullish channel (purple line in h1). On the medium term, the pair continues to move above the upper band of the channel (black lines).

We continue to advise long positions as far as 81.15 is support. None correction is expected as far as the price is moving into its bullish channel. The yen should pursuit to depreciate against the US Dollar and the breakout of 82 will give us a new buy signal. We will then target the next resistance at 82.50 and 83 in extension.

In case of return below 81.15, we will be neutral between this level and 80.50.

USD/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-21112012.png

USD/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-21112012-2.png




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#4 ⇑ Haut ⇑ 22-11-2012 09:40:41

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Re: USD/JPY : Elections in Japan lead to the resumption of the uptrend

The Yen continues to depreciate strongly again the US Dollar. The price is going to test the resistance at 83. The pair is still moving into its short term bullish channel (purple lines).

We continue to advise long positions as far as 82 is support. This level matches with the lower band of the channel. The breakout of 83 will give a new buy signal and should open the way towards 83.50 and 84 in extension.

In case of return below 82, we will be neutral between this level and 81.

USD/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-22112012.png

USD/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-22112012-2.png




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#5 ⇑ Haut ⇑ 28-11-2012 09:36:09

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Re: USD/JPY : Elections in Japan lead to the resumption of the uptrend

The depreciation of the Yen against the US Dollar finaly stopped on 82.83, after a bullish rally of almost 400 pips. Currently, the pair USD/JPY is making a correction, psuhing back the price below 82. The movement is leading a short term bearish slant (blue line). At this time, the bullish trend is not in danger.

We are neutral between 81 and 82. We advise to wait an exit of this range to take position:
- Long positions in case of return above 82 (this will indicate also the breakout of the bearish slant). We will then expect a test of 83 and 84 in extension
- Short positions if 81 is broken. The upper band of the medium term bullish channel could act as support. A return on 80 will be then expected.

USD/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-28112012.png

USD/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-28112012-2.png




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#6 ⇑ Haut ⇑ 29-11-2012 09:06:16

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Re: USD/JPY : Elections in Japan lead to the resumption of the uptrend

The price didn't stay long below the support at 82 and the bullish seems already to take up after these few days of technical correction. The buy signal given by the breakout of 82 is reinforced by the breakout of the short term bearish slant (blue line).

We continue to advise long positions as far as 81.50 is support. This level matches with the upper band of the medium term bullish channel (black lines). A test of the resistance at 82.60 should occur soon and the resistance at 83 could be then reached. The breakout of this level will give a new buy signal and will open the way towards 83.50 and 84 in extension.

In case of return below 81.50, we will be neutral between this level and 81.

USD/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-29112012.png

USD/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-29112012-2.png




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#7 ⇑ Haut ⇑ 07-12-2012 09:49:31

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Re: USD/JPY : Elections in Japan lead to the resumption of the uptrend

Since one week, the currency pair USD/JPY is waiting the anticipated elections in Japon on December 16th. The pair is moving between the support at 81.80 and the resistance at 82.71. The exit of this range should lead to a strong movement. An exit from the top is expected and could lead the price towards 83.50 and 84 in extension.

We continue to advise long positions as far as 81.80 is support. This level matches with the upper band of the medium term bullish channel (black lines). The breakout of 82.71 will give a strong new buy signal.

In case of return below 81.80, a sell signal will be given. The support at 81 should then be reached quickly.

USD/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-07122012.png

USD/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-07122012-2.png




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#8 ⇑ Haut ⇑ 13-12-2012 10:27:37

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Re: USD/JPY : Elections in Japan lead to the resumption of the uptrend

Nothing seems to stop the bullish rally started on mid November on the currency pair USD/JPY. The breakout of the major resistance at 82.71 gave us a new buy signal. The price is currently testing the highs of March towards 83.72. The price could reach in extension 84 but a technical correction towards 83 is expected. This level matches with the medium term bullish slant (purple line).

However, we continue to advise only long positions as far as 82.71 is support. The breakout of 83.72 will give a new buy signal  and should open the way towards the annual high at 84.17. In extension, 84.50 could then be reach. Stay in mind that the elections in Japan on December 16th could reverse the trend.

In case of return below 82.71, we will be neutral between this level and 81.70.

USD/JPY 4h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-13122012.png

USD/JPY 1h chart
http://www.tribuforex.fr/analyses/FOREX/usdjpy-13122012-2.png




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    USD/JPY : Elections in Japan lead to the resumption of the uptrend



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