DavidBelleFX

USDJPY ANALYSIS FOR BEGINNING OF WEEK

FX:USDJPY   U.S. Dollar/Japanese Yen
Looking at the daily, it could be said that price could fall to the previous areas of resistance (now support) found at the 121.65/80 area. It is probable that many pending buy orders can be found here. The first hurdle could be 122.00, however. Also of note, is that the DXY             is showing the next resistance level on the daily at 93.17, which is something to take into consideration.

The trend on USDJPY             is still bullish , however sustained mixed US data recent has slightly slowed the rally. If you have been trading GBPUSD             you would certainly have noticed this (and hopefully have profited from the fundamental divergence). The market has taken Yellen's comments last week as dovish. The rate hike is going to take a 'gradual' approach with the dependent variable being a sustained period of good economic data to warrant the rate increase.


Form your own opinions.

This is not to be interpreted as investment advice.

Trading leveraged products carries a potentially high level of risk.

Losses may exceed deposits.
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