Technical Analysis Report - USD/JPY
12/08/2016 // 06:10:56 am
After the release of the Jobless Claims Report, yen suffered staggering loss and erased all the initial gains and the traders are asking for further action from the Bank of Japan.
On Thursday, the market was almost neutral during the European Session but became active once the improved U.S Jobless Claims report was released. The dollar gained position on the backdrop of the strong U.S labour data. Traders were able to add up thrust to the price and move it higher. The instrument breached the level of 101.40 and kept rallying. The resistance is observed at 102.50, the support stands in at 101.40.
MACD indicator is at the centreline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD comes back to the negative territory the sellers will hold the regime in the market. RSI bounced from the oversold area and is heading upwards.
The price breached the 50 and 100 EMAs in the 1-hour chart and is ascending north. Now the 200-EMA acts as a resistance for the USD/JPY. The direction of the moving averages (50, 100 and 200) is downwards in the mentioned time frame.
The currency pair, USD/JPY is expected to test the next bullish target at 102.00, where the 200-day moving average lies.
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