TipTVFinance

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

FX_IDC:USDJPY   US DOLLAR / 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.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out