Technical Analysis Report - USD/JPY
27/07/2016 // 05:11:55 am
The Yen rose after the Japanese monetary and fiscal easing plans disappointed the investors. The BoJ will be using 6 trillion Yen for the fiscal stimulus against the expected 10 to 20 trillion yen.
Bears hold the control of the market. Traders moved the dollar lower from 3-week highs yesterday and the currency pair lost about 1%. The resistance is observed at 105.30, the support exists in at 104.50.
MACD moved into the negative zone indicating the strengthening positions of the sellers. Movement of the RSI towards the oversold area indicates a sell signal.
In the 4-hours chart, the pair broke the 50, 100 and 200 Day-EMAs. The moving averages (50, 100 and 200) reversed the direction from upward to the downward direction.
The indicators suggest short positions and a bearish mood is in the market. The price is expected to restart its decline towards 103.50.
29/09/2016 // 07:44:21 am
Pound was weighed by Shafik’s dovish comments (the BOE deputy) as
29/09/2016 // 07:41:12 am
On wednesday, the US currency dollar rose because of profit fixati
27/09/2016 // 10:33:13 am
The dollar remained under pressure against its major rivals as stocks