Japanese Yen

[setravis]

Japanese Yen
The dollar broke through primary support at ¥85 and is headed for a test of support at the 1995 low of ¥80. Bank of Japan intervention grows increasingly likely as the yen strengthens and should prevent any further appreciation below ¥80.
Target calculations: 85 - ( 95 - 85 ) = 75

[setravis]

Japanese Yen...

The dollar broke through primary support at ¥85 and is headed for a test of support at the 1995 low of ¥80. The Bank of Japan threatens to intervene to prevent further appreciation, but there are doubts about the political will to do so. Recovery above ¥86.50 is unlikely at this stage, but would warn that the down-trend is weakening — as would 63-day Twiggs Momentum recovery above its declining trendline.

Target calculations: 85 - ( 95 - 85 ) = 75

[setravis]

Japanese Yen...

The dollar broke through primary support at ¥85 and is headed for a test of support at the 1995 low of ¥80. Efforts by the Bank of Japan to halt the decline have so far proved fruitless. Recovery above ¥85 is unlikely at this stage, but would warn that the down-trend is weakening — as would 63-day Twiggs Momentum recovery above its declining trendline.

Target calculations: 85 - ( 95 - 85 ) = 75

[setravis]

Japanese Yen...

The dollar jumped sharply against the yen, breaking short-term resistance at ¥85 on the back of large-scale intervention by the Japanese government. Continued (yen) sales by the Bank Of Japan are likely to maintain support at ¥83 in the short/medium-term. Ability to hold this level in the long-term is doubtful, however, given the magnitude of the task and the results of the last (2004) intervention (WSJ). Breach of support at the 1995 low of ¥80 would be an admission of failure and would confirm a further primary decline. 21-day Twiggs Momentum holding below the zero line indicates a strong primary down-trend.

[setravis]

Japanese Yen...
The dollar retreated below resistance at ¥85, headed for another test of ¥83, which is likely to elicit further intervention from the BOJ. Ability to hold this level in the long-term is doubtful, given the magnitude of the task. Breach of support at the 1995 low of ¥80 would be an admission of failure and would confirm a further primary decline.

[setravis]

Japanese Yen...
The dollar is headed for another test of ¥83 and is likely to elicit further intervention from the BOJ. Ability to hold this support level in the long-term is doubtful, given the magnitude of the currency flows involved. Breach of support would be an admission of failure and would indicate a further primary decline (below the 1995 low of ¥80).

[setravis]

Japanese Yen...

The dollar broke through support at ¥83 despite efforts by the Bank of Japan to halt the decline. Expect a test of the 1995 low at ¥80.

* Target calculations: 83 - ( 86 - 83 ) = 80

[setravis]

Japanese Yen...

The dollar broke its 1995 low of ¥81 and is now testing the nearby psychological boundary of ¥80. Recovery above ¥81 would warn of another bear rally.

* Target calculations: 85 - ( 95 - 85 ) = 75

[setravis]

Japanese Yen...

The dollar retraced to test the new resistance level after breaking its 1995 low of ¥81. Tall shadows indicate selling pressure. Respect of resistance at ¥82 would warn of another strong decline.

* Target calculations: 83 - ( 86 - 83 ) = 80

[setravis]

Japanese Yen...

The dollar is testing its upper trend channel after finding support at ¥80. Breakout above ¥83 (or Twiggs Momentum recovery above zero) would warn that the down-trend is weakening, while reversal below ¥80 (or TM respect of zero) would suggest a decline to ¥77*.

* Target calculations: 80 - ( 83 - 80 ) = 77

[setravis]

Japanese Yen...
The dollar continues to test long-term support at ¥80. Twiggs Momentum oscillating around zero signals uncertainty, but the longer term picture is more positive, suggesting a bottom. Recovery above ¥84.50 would signal a new up-trend.

[setravis]

Japanese Yen...

A lower high indicates the dollar is headed for another test of long-term support at ¥80. A Twiggs Momentum peak below zero strengthens the signal. In the long term, failure of support at ¥80 would offer a target of ¥76*, while recovery above ¥84.50 would signal an advance to ¥87*.

* Target calculation: 80 - ( 84 - 80 ) = 76; 84 + ( 84 - 81 ) = 87

[setravis]

Japanese Yen...

A Twiggs Momentum peak at the zero line indicates the dollar is headed for another test of long-term support at ¥80. In the long term, failure of support at ¥80 would offer a target of ¥76*, while recovery above ¥84.50 would signal an advance to ¥87*.

* Target calculation: 80 - ( 84 - 80 ) = 76; 84 + ( 84 - 81 ) = 87

[setravis]

Japanese Yen...

The yen is headed for another test of its 1995 high of $0.0123 against the dollar (or ¥81 per dollar). The higher trough and Twiggs Money Flow holding above zero indicate buying pressure. Breakout would offer a target of $0.0129*.

* Target calculation: 123 + ( 123 - 117 ) = 129

[setravis]

Japanese Yen...

The yen is edging towards its 1995 high of $0.0123 against the dollar (¥81/dollar). A higher trough would be a bullish sign, but Twiggs Money Flow reversed below zero, warning of selling pressure. Breach of the rising trendline would signal a loss of momentum, suggesting another test of primary support.

* Target calculation: 123 + ( 123 - 117 ) = 129