During Friday’s trading session, the 100-hour simple moving average supported the rate to end the trading session at 111.40. On Monday morning, the rate was trading between the 55-hour and the 100-hour simple moving averages at the 111.51 mark.
It is expected, that the currency exchange rate will be trading sideways to end the trading session at the 111.60 level.
On the other hand, the support levels of the 200-hour and the 100-hour simple moving averages could push the US Dollar to appreciate against the Japanese Yen towards the 111.80 level.
It is expected, that the currency exchange rate will be trading sideways to end the trading session at the 111.60 level.
On the other hand, the support levels of the 200-hour and the 100-hour simple moving averages could push the US Dollar to appreciate against the Japanese Yen towards the 111.80 level.
Comment:
During Tuesday’s trading session, the support levels of the 55-hour SMA together with the weekly pivot point at 111.42 pushed the currency exchange rate to break the resistance level of the 100-hour SMA. On Wednesday morning, the rate was supported by the 100-hour SMA to be located at the 111.57 mark.
In regards to the near-term future, most likely, the 100-hour SMA will continue to support the rate for the rest of the trading session. It is expected that the rate might end the day at the 111.80 level.
On the other hand, today’s US Federal Funds Rate, FOMC Statement release at 18:00 GMT might push the rate to pass through most of the technical indicators to the bottom boundary of the pattern line at 111.30 mark.
During Tuesday’s trading session, the support levels of the 55-hour SMA together with the weekly pivot point at 111.42 pushed the currency exchange rate to break the resistance level of the 100-hour SMA. On Wednesday morning, the rate was supported by the 100-hour SMA to be located at the 111.57 mark.
In regards to the near-term future, most likely, the 100-hour SMA will continue to support the rate for the rest of the trading session. It is expected that the rate might end the day at the 111.80 level.
On the other hand, today’s US Federal Funds Rate, FOMC Statement release at 18:00 GMT might push the rate to pass through most of the technical indicators to the bottom boundary of the pattern line at 111.30 mark.
Comment:
During Wednesday’s trading session, the US Dollar depreciated against the Japanese Yen by 102 pips or 0.91 base point to end the trading session at 110.60. On Thursday morning, the US Dollar kept depreciating against the Japanese Yen to be located at the 110.44 mark.
In regards to the near-term future, most likely, the rate will trade sideways between the weekly S2 at 110.40 and the weekly S3 at 109.91 to stay at the 110.20 level.
However, the weekly S2 could retrace the rate to push it to break the resistance level of the monthly pivot point at 110.53 to trade near the 61.80% Fibonacci retracement level at the 110.77 mark.
During Wednesday’s trading session, the US Dollar depreciated against the Japanese Yen by 102 pips or 0.91 base point to end the trading session at 110.60. On Thursday morning, the US Dollar kept depreciating against the Japanese Yen to be located at the 110.44 mark.
In regards to the near-term future, most likely, the rate will trade sideways between the weekly S2 at 110.40 and the weekly S3 at 109.91 to stay at the 110.20 level.
However, the weekly S2 could retrace the rate to push it to break the resistance level of the monthly pivot point at 110.53 to trade near the 61.80% Fibonacci retracement level at the 110.77 mark.
Comment:
During Thursday’s trading session, the currency exchange rate traded sideways to end the trading day at 110.60. On Friday morning, the rate was located at the monthly pivot point at the 110.53 mark.
In regards to the near-term future, most likely, the rate will pass through the support level of the weekly S2 at 110.40 to depreciate to the weekly S3 at the 109.91 mark. It is expected that the rate will end the trading session at the 110.00 level.
On the other hand, the support level of the weekly S2 at 110.40 might support the rate to push it to trade sideways at 110.60.
During Thursday’s trading session, the currency exchange rate traded sideways to end the trading day at 110.60. On Friday morning, the rate was located at the monthly pivot point at the 110.53 mark.
In regards to the near-term future, most likely, the rate will pass through the support level of the weekly S2 at 110.40 to depreciate to the weekly S3 at the 109.91 mark. It is expected that the rate will end the trading session at the 110.00 level.
On the other hand, the support level of the weekly S2 at 110.40 might support the rate to push it to trade sideways at 110.60.
During Monday’s trading session, the currency exchange rate passed the support level of the 200-hour simple moving average to end the trading session at 111.20. On Tuesday morning, the rate was trading sideways at the 111.28 mark.
In regards to the near-term future, it is expected that the rate will break the pattern line at the 111.21 mark. In this case, most likely, the rate will end the trading session at the 111.00 level.
However, the pattern line at the 111.21 mark could support the rate to push it to the 111.40 level.