country flagالعربية

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

2019-04-16 11:07 pm | Resource: Technical Analysis | No Views : 86

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market.
Time frame Used - four hours
The USD/JPY is moving in a bullish direction in the near term.
USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00 levels as the USD/JPY faces resistance and selling pressure around this level.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area.
Therefore, we expect that the USD/JPY will drop to 111.54 - 111.27 levels again, and this scenario fails in case of stability above level of  112.10.
The alternative scenario is that USD/JPY is breaching the level 112.10  to target the levels of 112.50 - 113.05.
Big Picture
Looking at the daily chart, the USD/JPY is able to breach the resistance level of 111.52 to the upside, but it still faces the resistance level around 112.21.
Sell USD/JPY around 112.10 level for targeting levels of 111.54 - 111.27 With the activation of stop loss in case of closure above the level of 112.10.
The fundamental overview
• On the economic data level, the revised reading data for the Japanese industrial production will be issued on a monthly basis at 4.30 am GMT.
• On the other hand, the US Trade Balance data will be released at 12:30 GMT, as well as the final reading of US wholesale inventories on a monthly basis at 2 pm GMT.
Resistance: 112.10 - 112.50 - 113.05
Support: 111.83 - 111.54 - 111.27
Direction: Up
Technical Analysis
Forex Analysis
Bitcoin News

Other news

Dollar is rising against its major counterparts in Asian trading on Monday

The Dollar rose against major currencies on Monday morning as traders followed Trump's comments on the trade war with China and the possibility of military intervention in Iran Trump: We reached an agreement with China, but they changed it US President Donald Trump said the United States "largely" made a trade deal with China before the negotiations collapsed and Washington implemented a new round of tariffs on Chinese imports. "We…

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.