During Friday’s trading session, the currency exchange rate passed through the support level of the 200-hour simple moving average to fall to 111.00. On Monday morning, the rate was trading at the 111.21 mark. Note, the chart was fully reviewed to make some corrections to the chart!
In regards to the near-term future, it is expected that the 55-hour simple moving average will retrace the rate to push it to trade sideways at the 111.00 level.
However, today’s US Retail Sales and Core Retail Sales data release at 12:30 GMT might push the US Dollar to appreciate against the Japanese Yen to trade between the simple moving average at the 111.40 level.
In regards to the near-term future, it is expected that the 55-hour simple moving average will retrace the rate to push it to trade sideways at the 111.00 level.
However, today’s US Retail Sales and Core Retail Sales data release at 12:30 GMT might push the US Dollar to appreciate against the Japanese Yen to trade between the simple moving average at the 111.40 level.
Comment:
During Tuesday’s trading session, the 55-hour simple moving average supported the currency exchange rate to keep the rate to stay at 111.20. On Wednesday morning, the rate broke the resistance of the 100-hour SMA to trade at the 111.32 mark.
In regards to the near-term future, it is expected that the 55-hour and the 100-hour SMAs will support the rate to break the resistance of the weekly pivot point at 111.37. If the rate breaks the resistance level, then it will end the trading session at the 111.40 level.
However, today’s US Core Durable Goods Orders, Durable Goods Orders, US PPI data release at 12:30 GMT could push the rate fall to 111.00. Be aware!
During Tuesday’s trading session, the 55-hour simple moving average supported the currency exchange rate to keep the rate to stay at 111.20. On Wednesday morning, the rate broke the resistance of the 100-hour SMA to trade at the 111.32 mark.
In regards to the near-term future, it is expected that the 55-hour and the 100-hour SMAs will support the rate to break the resistance of the weekly pivot point at 111.37. If the rate breaks the resistance level, then it will end the trading session at the 111.40 level.
However, today’s US Core Durable Goods Orders, Durable Goods Orders, US PPI data release at 12:30 GMT could push the rate fall to 111.00. Be aware!
Comment:
During Wednesday’s trading session, the rate passed through 55-hour and the 100-hour simple moving averages to end the trading session at 111.20. On Thursday morning, the currency exchange rate broke the resistances of the SMAs to trade at the 111.60 mark.
In regards to the near-term future, most likely, the 200-hour simple moving average will support the rate to push it to the 111.80 level.
However, the US Dollar might appreciate against the Japanese Yen to force the rate to stay at the 111.40 level for the rest of the trading session.
During Wednesday’s trading session, the rate passed through 55-hour and the 100-hour simple moving averages to end the trading session at 111.20. On Thursday morning, the currency exchange rate broke the resistances of the SMAs to trade at the 111.60 mark.
In regards to the near-term future, most likely, the 200-hour simple moving average will support the rate to push it to the 111.80 level.
However, the US Dollar might appreciate against the Japanese Yen to force the rate to stay at the 111.40 level for the rest of the trading session.
Comment:
During Thursday’s trading session, the currency exchange rate was supported by the 200-hour simple moving average to end the trading session at 111.80 as it was expected! On Friday morning, the rate was trading sideways to stay at the 111.65 mark.
In regards to the near-term future, it is expected that the rate will try to reach the weekly R1 at the 111.95 mark.
Besides, the 55-hour and the 200-hour simple moving averages will support the surge during the day!
During Thursday’s trading session, the currency exchange rate was supported by the 200-hour simple moving average to end the trading session at 111.80 as it was expected! On Friday morning, the rate was trading sideways to stay at the 111.65 mark.
In regards to the near-term future, it is expected that the rate will try to reach the weekly R1 at the 111.95 mark.
Besides, the 55-hour and the 200-hour simple moving averages will support the surge during the day!
During Monday’s trading session, the currency exchange rate broke through the resistance of the 55-hour simple moving average to stay at the 111.00 level as it was predicted! On Tuesday morning, the rate was resisted by the 100-hour SMA to be located at the 111.37 mark.
Most likely, the 100-hour simple moving average will retrace the rate to depreciate to the 111.00 level.
On the other hand, the 55-hour simple moving average might support the US Dollar during today’s US Consumer Price Index and Core Consumer Price Index data release at 12:30 GMT to push the rate to end the trading session below the weekly pivot point at the 111.37 mark.