During the previous trading session, the currency exchange rate was trading sideways at the 110.00 level as it was predicted. On Monday morning, the rate was resisted by the 55-hour SMA at the 110.59 mark.
In regards to the near-term future, it is expected that the 55-hour simple moving average will support the rate to help it to break the resistance level of the 100-hour SMA. In this case, the rate will surge to the 61.80% Fibo at 110.77.
On the other hand, the resistance levels of the 55-hour and the 100-hour SMAs could resist the rate to the weekly pivot point at 110.46.
In regards to the near-term future, it is expected that the 55-hour simple moving average will support the rate to help it to break the resistance level of the 100-hour SMA. In this case, the rate will surge to the 61.80% Fibo at 110.77.
On the other hand, the resistance levels of the 55-hour and the 100-hour SMAs could resist the rate to the weekly pivot point at 110.46.
Comment:
During the previous trading session, the currency exchange rate passed the resistance level of the 61.80% Fibo as it was predicted. During Wednesday morning hours, the rate was trading sideways to be located at the 110.76 mark.
It is expected, that the US Dollar will continue to appreciate against the Japanese Yen with the help of today’s US FOMC Meeting Minutes release at 19:00 GMT
which could push the rate to break the resistance of the monthly R1 at 110.99.
On the other hand, the US Dollar could depreciate against the Japanese Yen during the release. In this case, most likely, the rate could depreciate to the 110.60 level.
During the previous trading session, the currency exchange rate passed the resistance level of the 61.80% Fibo as it was predicted. During Wednesday morning hours, the rate was trading sideways to be located at the 110.76 mark.
It is expected, that the US Dollar will continue to appreciate against the Japanese Yen with the help of today’s US FOMC Meeting Minutes release at 19:00 GMT
which could push the rate to break the resistance of the monthly R1 at 110.99.
On the other hand, the US Dollar could depreciate against the Japanese Yen during the release. In this case, most likely, the rate could depreciate to the 110.60 level.
Comment:
During Wednesday’s trading session, the rate was trading sideways to end the trading day at 110.60 as it was predicted. On Thursday morning, the currency exchange rate was trading between the 55-hour and the 100-hour simple moving averages to be located at the 110.74 mark.
In regards to the near-term future, most likely, the rate will bounce off the 61.80% Fibo at 110.77 to trade sideways at the 110.60 level.
However, today’s US Durable Goods Orders and Core Durable Goods Orders data release at 13:30 GMT could push the US dollar to appreciate against the Japanese Yen to break the resistance of the 61.80% Fibo to trade at the 110.80 level.
During Wednesday’s trading session, the rate was trading sideways to end the trading day at 110.60 as it was predicted. On Thursday morning, the currency exchange rate was trading between the 55-hour and the 100-hour simple moving averages to be located at the 110.74 mark.
In regards to the near-term future, most likely, the rate will bounce off the 61.80% Fibo at 110.77 to trade sideways at the 110.60 level.
However, today’s US Durable Goods Orders and Core Durable Goods Orders data release at 13:30 GMT could push the US dollar to appreciate against the Japanese Yen to break the resistance of the 61.80% Fibo to trade at the 110.80 level.
Comment:
During the previous trading session, the currency exchange rate was trading sideways below the 61,80% Fibo at 110.60. On Friday morning, the rate was located at the 110.87 mark.
In regards to the near-term future, most likely, the US Dollar will bounce off the upper boundary of the freshly drawn medium pattern line at 110.90 to trade sideways during the trading session.
On the other hand, the rate could break the resistance of the freshly drawn medium pattern line at 110.90 to trade at the 111.00 level.
During the previous trading session, the currency exchange rate was trading sideways below the 61,80% Fibo at 110.60. On Friday morning, the rate was located at the 110.87 mark.
In regards to the near-term future, most likely, the US Dollar will bounce off the upper boundary of the freshly drawn medium pattern line at 110.90 to trade sideways during the trading session.
On the other hand, the rate could break the resistance of the freshly drawn medium pattern line at 110.90 to trade at the 111.00 level.
During Monday’s trading session, the 55-hour simple moving average supported the currency exchange rate to trade above the weekly PP at 110.40. On Tuesday morning, the rate tested the 61.80% Fibonacci retracement level to be located at the 110.77 mark.
In regards to the near-term future, it is expected that the currency exchange rate will break the resistance of the 61.80% Fibo at 110.77 to trade at the 110.80 level during the day.
However, the resistance level of the 61.80% Fibo could resist the rate to push it towards the bottom boundary of the freshly drawn pattern line at the 110.60 mark.