TipTVFinance

USD/JPY- Falling channel intact despite Abe’s stimulus talk

FX:USDJPY   U.S. Dollar / Japanese Yen
Hourly chart- Falling channel

Breach of rising trend line followed by a breach of rising channel to the downside, falling channel

Channel support could be put to test

Pair’s retreat from the high of 105.56 to a low of 105.12 in last couple of hours despite stimulus talk by Abe             suggests the spot is at a risk of a re-test of yesterday’s low of 104.19. The level could be breached and the falling channel support at 103.52 could be put to test.

On the higher side, only a hourly closing above falling channel would suggest trend reversal and may help the pair cut through strong resistance at 106.64

Japan stimulus details

PM Abe             informed us today – Economic stimulus to be in excess of JPY 28 trillion
JPY 13 trillion would be on fiscal measures
Only JPY 2 trillion earmarked for this calendar year
Cabinet due to approve the stimulus on August 2
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
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 Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out