country flagالعربية

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 18 March 2019

2019-03-18 08:26 am | Resource: Technical Analysis | No Views : 49

Time frame Used - four hours
The USDJPY is moving in a sideway direction in the near term.
the USD/JPY was able to hold steady at 111.12 to rebound slightly to 111.90 as it faces some selling pressure around this level , but it is still above the Bollinger’s moving average line.
In view of the technical indicators
Both the RSI and Stochastic are indicators to weakness of the indicators.
Therefore, we expect that the USD/JPY will fall to level of  111.12 again and this scenario fails in case of stability above level of  112.10.
The alternative scenario is that the USD/JPY breached level of 112.10 to the upside for targeting levels of  113.07 - 113.57.
Big Picture
Looking at the daily chart, we find that the USD/JPY also broke the upside channel down.
Our view is currently neutral around USD/JPY.
The fundamental overview
• On the economic data level there are no data or reports that have a strong and effective impact on the Japanese yen.
• On the other hand, the US housing market data will be released at 9 am GMT.
Resistance: 112.10 - 113.07 - 113.57
Support: 111.12 - 110.35 - 109.57
Direction: sideway
Technical Analysis
Forex Analysis
Bitcoin News

Other news

Dollar fell after the unemployment data and durable goods orders

The dollar fell on Thursday after the number of people applying for unemployment rose more-than-expected last week. US durable goods orders rise in March Reflecting a sharp rebound in transport equipment orders, the Commerce Department released a report on Thursday showing new orders for durable goods manufactured in the US jumped more than expected in March. Durable goods orders rose 2.7 percent in March after a revised 1.1 percent drop…

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 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.