Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Call update: USD/JPY targets achieved, book partial profits, lower trailing stops, hold for 119 levels

 

  • Our USD/JPY call (http://www.econotimes.com/FxWirePro-USD-JPY-upside-capped-by-200-DMA-at-12147-good-to-sell-rallies-153594) has achieved targets.
     
  • Dovish comments from the BOJ Governor Kuroda saw a minor recovery in USD/JPY, but persisting risk-aversion is likely to keep the safe-haven bids for the yen intact.
     
  • US ADP jobs report will remain in focus; besides the oil price action will continue to provide further direction to the pair.
     
  • Technicals indicated further downside, RSI and Stochs point south, but MACD see scope for upside.
     
  • Next focus below 119.20 will be 119.00, we could see buying interest here, the point where demand originated post-BOJ negative rate decision.
     

Recommendation: Book partial profits, lower trailing stops to 120.70, TP: 119.20/119

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.