country flagالعربية
0

USD/JPY Technical analysis 11 January 2019

2019-01-11 12:22 am | Resource: Technical Analysis | No Views : 177

Time frame Used - four hours
The USDJPY is moving in a sideway direction in the near term.
USD/JPY CHART
The USD/JPY has already rebounded as we expected in the previous report to hit the 108.50 level as it faces selling pressure around this level, as well as the USD/JPY faces resistance around the Bollinger's moving average line.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to a lack of signals.
Therefore, we expect that the USD/JPY will retreat to levels of  107.72 - 106.80, and this scenario fails in case of  stabilize above the 108.50 level.
The alternative scenario is that the USD/JPY broke level of 104.74 down to target the 99.75 level.
Recommendation
Our view is currently neutral around USD/JPY
The fundamental overview
• On the economic data level there are no reports or economic data that have a strong impact on the Japanese economy.
• The US Core Consumer Price Index and the US Consumer Price Index will be released on a monthly basis at 8.30 am GMT.
Resistance: 108.50 - 109.00 - 109.50
Support: 107.72 - 106.80 - 104.74
Direction: sideway
Technical Analysis
Forex Analysis
Bitcoin News


Other news

European stocks rise slightly after the US-China agreement

Major European stock markets were flat on Thursday as news of a tentative deal between the United States and China pushed up stocks. Meanwhile, in the UK, the media reported that a group of British parliamentarians had prepared legislation to prevent uncontrolled withdrawal from the bloc as the race continued for the seat of the Conservative Party leader and prime minister. The United States and China agree on a tentative…

More news

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.