USD/JPY Short Term Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
129 0 1
•RES3 :122.01 (Mar 10th high)

•RES 3: 121.18 (Mar 20th high)

•RES 2: 120.80 (13th Apr             high)

•RES 1: 120.08 ( Apr             22nd high)

PRICE: 119.66 @ 05:06 GMT            

•SUP1: 119.10 (20 day 4HMA)

•SUP 2: 118.50 ( Apr             20th low)

•SUP 3 118.16 ( 61.8% retracement of 115.85 and 122.01)

•SUP 3 -116.85 (Feb 3rd low)

USD/JPY             has recovered from low of 118.48 after release of better than expected US Economic data.

US Jobless claims tumbled to 15 year low and consumer spending increased in March, signs the economy was regaining momentum in the second quarter.

Technically USD/JPY             has broken major support 118.50, lack of follow through selling and current rebound above short term resistance 119.45 suggests that it has formed temporary bottom around 118.50, a jump till 120.09/120.80 cannot be ruled out.

Short term bullish invalidation level-118.16. Any break below 118.16 will drag the pair further down till 116.85/115.90 in short term.

Indicator (4 hour chart)

CCI (50) - Buy

Woodies CCI (14) – Buy

Ichimoku- Buy

It is good to buy at dips around 119.30 for the target of 120.08/120.85 with stop around 118.50.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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
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