Dollar Index Update

$USDX Daily Chart - The dollar index gained last week as expected, reaching the first check point at 1.382 of BC (previous post). The Euro and Pound weakened about 130 pips and 180 pips respectively against the dollar while Yen, Swiss Franc and Canadian Dollar weakened 131, 130 and 160 pips respectively.

$USDX 4 hour Chart - I remain bullish on the US against the Yen and Canadian Dollar, but I think it might find resistance against the Euro, Pound and CHF. Next check point for USDX is at 84.82. Economic Data Calendar 

$USDJPY Outlook

Still very bullish for $USDJPY. I am gonna look to buy the pair, betting that it will reach 83.00 in short term, as long it holds above 81.69.

USDJPY HOURLY CHART - Possible uptrend continuation.

USDJPY DAILY CHART - Just to be prepared if the pair break above 83.00.

$USDJPY Update

The pair is currently forming correction pattern. Dollar weakened  to 81.85 earlier today but quickly rebound above 82.00. I expect price movements between the projected trendlines targeting 81.50. US home sales data will surely be the main focus. A surprise will likely keep USDJPY in its current pattern while focus will then shift to Japan retail sales and another set of US data on Thursday.

$USDJPY 4-Hour Chart

 

 

$USDJPY 1-Hour Chart

$USDJPY Outlook Next Week

Link to EURJPY outlook.

$USDJPY MONTHLY CHART - Targeting 87.00 if the pair can hold above 82.40 at the end of the month. 

$USDJPY WEEKLY CHART - It seems that it has the momentum to break resistance but better to protect some profit here and double check your calendar.

$USDJPY DAILY CHART - Daily close below broken trendline may trigger correction to 81.50. Other than that, I expect to see a fight to break 83.00.

$EURJPY Outlook

$EURJPY MONTHLY CHART - Technically speaking, this pair promise a conclusion of a major downtrend.

$EURJPY WEEKLY CHART - Some possible targets for uptrend scenario.

$EURJPY DAILY CHART - Upside target for next week.