USDJPY recovers – Analysis - 15-08-2018

Economies.com
2018-08-15 04:16AM UTC

The USDJPY pair continued to rise yesterday to breach the intraday bearish channel’s resistance that appears on the chart, and begins to test the key resistance 111.32, which hints the attempt to stop the recent negative pressure and head to achieve gains on the intraday basis, but we notice that stochastic is overbought now, which might push the price to decline again.

 

Therefore, we prefer staying aside temporarily until we get clearer signal for the next trend, which we will get through breaching 111.32 resistance or breaking 110.60 support, noting that breaching this resistance will confirm the continuation of the bullish bias to achieve positive targets that start at 112.00 and extend to 113.38, while breaking the support will push the price to reactivate the bearish trend scenario that its initial targets located at 110.04 followed by 109.00.

 

Expected trading range for today is between 110.50 support and 112.00 resistance

 

Expected trend for today: Depends on the above mentioned levels

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

EUR USD Analysis

Forex

End of day EURUSD price forecast update - 28-03-2024
2024-03-28 17:42PM UTC
The EURUSD price provided additional negative trades to reach the thresholds of the first waited ...
NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...