Advertisement
Advertisement
trade360
BREAKING NEWS : Start Trading Today Join Now!
Advertisement trade

Daily Technical Outlook on Major - USD/JPY

Written AceTrader Team | 2018-01-10 04:37:13 GMT

Trend Daily Chart
Sideways

Daily Indicators
Neutral

21 HR EMA
112.69

55 HR EMA
112.81

Trend Hourly Chart
Sideways

Hourly Indicators
Turning up

13 HR RSI
44

14 HR DMI
-ve

Daily Analysis
Consolidation with downside bias

Resistance
113.39 - Mon's high
113.18 - Y'day's high
112.96 - Y'day's European high

Support
112.37 - Y'day's low
112.06 - Last week's low (Tue)
111.65 - Oct's low (16th)

  • USD/JPY - 112.60.. Dlr continued to swung wildly on Tue. Price fell fm 113 .18 (AUS) to 112.50 in Asia after BoJ trimmed its bond purchase, rising US yields lifted price to 112.96 in Europe b4 dropping to session lows of 112.37 in NY.

  • Looking at the bigger picture, despite dlr's resumption of MT fall fm 118 .66 (Dec 2016) to retrace the uptrend fm 2016 29-month bottom at 99.00 to 107.32 in Sep, subsequent rally on rising U.S. yields to 113.45 in early Oct, then to Nov's 7-1/2 month peak at 114.74 confirms said decline has made a low there. Having said that, dlr's decline to 110.84 in late Nov signals MT rise fm 107.32 has made a top. Last week's weakness to 112.06 suggests choppy trading below Dec's 113.75 peak would continue, below 112.03 would extend fall fm 113.75 to 111.41 but reckon key sup at 110.84 would remain intact. On the upside, only a daily close abv 113.13 suggests low is made, risks gain twds 113.75.

  • Today, y'day's rebound fm 112.37 to 112.79 at Asian open due to soaring U.S. yields suggests temp. low is made n range trading is in store, as long as 112.96 holds, downside bias remains for marginal weakness but only below 112.00/ 06 would extend fall fm 113.75 twd 111.65. Abv 113.18 risks gain twd 113.39.

USDJPY

Author

AceTrader Team
XM

Featured Forex Brokers

Broker Profile Open Account
XM
  • Minimum Deposit: 5 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CySEC,ASIC ,FCA
  • XM
    tickmill
  • Minimum Deposit: 25 USD
  • Leverage of up to 1:500
  • Broker Type : ECN/STP & STP
  • Regulation : FSA SD008
  • tickmill
    markets
  • Minimum Deposit: 100 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CySEC
  • markets

    The Best Crypto to Crypto

    Exchanger Advantages Open Account
    binance
  • Safety Stability: Multi-tier & multi-cluster system architecture
  • Binance charges a quite low commission fee
  • Multiple-Coin Support : BTC, ETH, LTC, BNB...
  • High Liquidity
  • Multiple-Language Support
  • binance
    changelly
  • Instant cryptocurrency exchange
  • More than 500,000 satisfied users
  • Changelly charges a quite low commission fee
  • Safety Stability
  • changelly
    bitmex
  • Bitmex - Bitcoin Mercantile Exchange is a cryptocurrency derivatives trading platform.
  • Bitmex charges a quite low commission fee
  • Safety Stability
  • changelly

    Best Brokers to Trade Crypto

    Broker Profile Open Account
    XM
  • Offer: 30 USD No Deposit Bonus - 50% Deposit Bonus
  • Minimum Deposit: 5 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CySEC,ASIC ,FCA
  • XM
    FBS
  • Offer: 50USD No Deposit Bonus
  • Offer: 100% Deposit Bonus
  • Minimum Deposit: 1 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CRFIN (Russia), 009069697 IFSC (Belize), IFSC/60/230/TS/12
  • FBS
    eToro
  • Offer: 1000USD Deposit Bonus
  • Minimum Deposit: 50 USD
  • Leverage of up to 1:400
  • Broker Type : STP
  • Regulation : ASIC, 335692 CFTC/NFA, 0382918 CySEC, 109/10
  • eToro

    Contact us
    Email: reviewbrokers.net@gmail.com
    Skype:fxvnpro