During Monday morning hours, the currency exchange rate was resisted by the 200-hour simple moving average to stay at the 108.15 mark.
In regards to the near-term future, most likely, the rate will be trading sideways between the monthly S1 at 108.17 and the weekly S1 at 107.86.
The resistance levels of the monthly S1 and the 55-hour simple moving average will not let the US Dollar to appreciate against the Japanese Yen during the trading session on Monday.
In regards to the near-term future, most likely, the rate will be trading sideways between the monthly S1 at 108.17 and the weekly S1 at 107.86.
The resistance levels of the monthly S1 and the 55-hour simple moving average will not let the US Dollar to appreciate against the Japanese Yen during the trading session on Monday.
Comment:
During the previous trading session, the currency exchange rate broke the previously drawn descending medium pattern line at 108.64. On Wednesday, the rate was trading at the 108.56 mark.
In regards to the near-term future, it is expected that the rate will break the resistance of the corrected medium pattern line to surge towards the 109.00 level. Moreover, the simple moving averages will support the surge during the day.
On the other hand, the US Dollar could be resisted by the medium pattern line to pass most of the technical indicators to trade at the 108.200 level.
During the previous trading session, the currency exchange rate broke the previously drawn descending medium pattern line at 108.64. On Wednesday, the rate was trading at the 108.56 mark.
In regards to the near-term future, it is expected that the rate will break the resistance of the corrected medium pattern line to surge towards the 109.00 level. Moreover, the simple moving averages will support the surge during the day.
On the other hand, the US Dollar could be resisted by the medium pattern line to pass most of the technical indicators to trade at the 108.200 level.
Comment:
Due to the fact that the previous patterns were broken, the chart was fully reviewed to draw freshly new patterns.
During Thursday’s morning hours, the currency exchange rate was surging towards the weekly R1 which is located at the 109.18 mark. Moreover, the surge is supported by the 55-hour simple moving average.
It is expected that the USD/JPY will reach the 109.00 level during the trading session.
Due to the fact that the previous patterns were broken, the chart was fully reviewed to draw freshly new patterns.
During Thursday’s morning hours, the currency exchange rate was surging towards the weekly R1 which is located at the 109.18 mark. Moreover, the surge is supported by the 55-hour simple moving average.
It is expected that the USD/JPY will reach the 109.00 level during the trading session.
Comment:
During the previous trading session, the US Dollar appreciated against the Japanese Yen by 32 pips or 0.29%, breaking the resistance level of the weekly R1 at the 109.18 mark. On Friday morning, the rate was located at 109.47.
In regards to the near-term future, it is expected that the currency exchange rate will be retraced by the upper boundary of the pattern line at the 109.50 mark to trade sideways. Moreover, most likely, the rate will stay at the 109.40 level for the day.
However, the rate could be retraced by the 50.00% Fibo at 109.60 to hit the 109.200 level.
During the previous trading session, the US Dollar appreciated against the Japanese Yen by 32 pips or 0.29%, breaking the resistance level of the weekly R1 at the 109.18 mark. On Friday morning, the rate was located at 109.47.
In regards to the near-term future, it is expected that the currency exchange rate will be retraced by the upper boundary of the pattern line at the 109.50 mark to trade sideways. Moreover, most likely, the rate will stay at the 109.40 level for the day.
However, the rate could be retraced by the 50.00% Fibo at 109.60 to hit the 109.200 level.
During the previous trading session, the currency exchange rate traded sideways to stay near the monthly S1 at 108.17 as it was predicted! On Tuesday morning, the US Dollar appreciated against the Japanese Yen to the 108.57 mark.
In regards to the near-term future, most likely, the currency exchange rate will trade upwards to break the resistance of the descending dominant pattern line at 108.70. It is expected that the rate might reach the 108.00 level during the trading session on Tuesday.
On the other hand, the US dollar could depreciate against the Japanese Yen to pass through the support levels of the most technical indicators to trade at 108.20.