USD/JPY – strong resistance at 105.07-105.09

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
Dollar’s day end closing above the falling trend line suggests a short-term bottom has been made at 99.986 levels, although a 450 pip rally could lead to a short-term loss of momentum and sideways to choppy trading.

Spot needs to break above strong resistance at 105.07 (50% of May 31 high-June 24 low) – 105.09 (78.6% of June 24 high-low) preferably on the daily closing basis if it has to break above 105.55 and test 106.00-106.30 levels.

On the lower side, fall back inside falling trend line on daily closing basis could yield a re-test of 100.00 levels.

Upticks in USD/JPY             to be met with fresh offers?

There is a widespread belief that Japan is coming up with a double barreled stimulus (fiscal + monetary) stimulus. Including us, there is a significant majority in the market that believes more stimulus is unlikely to be well received by the markets.

For example - Hantec Market analyst appeared on our Finance show today, where he talked about selling upticks in the USD/JPY             pair as he believes more stimulus won't work the way bank/government would like it to be. Here is the video titled - Bearish on Cable, Sell upticks in USD/JPY             – Hantec Markets - https://www.youtube.com/watch?v=AdxNmsMleqI
thanks for info ..
TipTVFinance LongBreak
You are welcome
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out