|
Technical Analysis Daily: USD/JPY |
 |
 |
 |
|
Technical Archives |
Written by ZIFX.com |
Mar 12 10 05:05 GMT
|
Technical Analysis Daily: USD/JPY
USD/JPY 90.47
USD/JPY Open 90.64 High 90.80 Low 90.17 Close 90.50
On Thursday Yen weakened insignificantly against the Dollar on BoJ policy easing speculation. The currency couple rose from 90.22 up to 90.71, although Industry sentiment remained negative at nearly -70%, closing the day at 90.50. On the 3 hour chart the bearish channel remains intact and our anticipations are for the Dollar to continue strengthening in the short term. Going above Wednesday's peak 90.80 may bring threat to the bullish outlook, and correctional movements may deepen further towards 91.76, followed by 92.67. Break bellow Tuesday's bottom at 89.62 should extend the depreciating impetus towards next target downwards 88.87. There are no economic events today for Japan except for the Industrial production already passed at 4:30. Quotes are currently moving bellow the 20 and 50 EMA, indicating slight bearish pressure. The RSI indicator is negative and rising, MACD is negative and calm, while CCI is neutral with significant decline, giving overall short signals.
Technical resistance levels: 90.80 91.76 92.67
Technical support levels: 90.17 89.62 88.87
Trading range: 90.60 - 89.95
Trend: Downward
Sell at 90.47 SL 90.77 TP 90.07
iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com
|
About the AuthorZIFX.com is managed by iFOREX Ltd. and it is in the business of teaching analysis of forex trends, and proposing potential trading signals - not recommendations. All statements and expressions are the opinion of the forex experts at ZIFX.com and are not meant to be either investment advice or a solicitation or recommendation to establish market positions. Our opinions are subject to change without notice. We strongly advise clients to conduct thorough research relevant to decisions and verify facts from various independent sources. The staff at ZIFX.com is not to be held responsible for individual market positions, all trades that clients may take are based on their own final decisions. We do not accept any liability for any loss or damage whatsoever, that may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in the trading signals or in any accompanying chart analyses, whether communicated by word or message, typed or spoken by any of ZIFX.com employees.
ZIFX.com |
