TipTVFinance

USD/JPY - Runs into trend line resistance on stimulus talk

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
USD/JPY             rose for the second day as investors expect Japanese government to come up with a fresh fiscal stimulus . Bank of Japan too is expected to announce fresh stimulus in support of the fiscal stimulus, thus making it a double barreled effort.

The pair ran into short-term falling trend line resistance of 103.62 before retreating sharply to 103.10 levels,

Outlook

Despite Dollar's retreat from 103.62 ( trend line hurdle) to 103.10, the bid tone remains intact, although fresh bids are seen only in case of a 4-hr/daily closing above the falling trend line . Such a move would add credence to the rebound from 100 levels and open doors for 105.55 levels.

On the lower side, only a day end closing below 100 would signal bullish invalidation and could yield a drop to 99 levels.
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