Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/JPY Daily Outlook

USD/JPY chart - Trading View 

  • USD/JPY hits 6-week lows at 109.70, extends weakness below 110 handle. 
     
  • The major trades under pressure at the beginning of the week, bias bearish.
     
  • US Treasury yield curve inverted for the first time since 2007, triggering alerts about a possible recession.
     
  • Technical indicators on the daily charts have turned bearish. The pair has broken below rising channel raising scope for weakness.
     
  • Price action has dipped below 23.6% Fib retracement of 104.656 to 112.137 rise (110.37) and strong trendline support (110.30).
     
  • Japan will release the January All Industry Activity Index shortly, expected at 0.2% vs. the previous -0.4%. 
     
  • Bias bearish, we see scope for test of 38.2% Fib at 109.27 ahead of 108.50 (Jan 31 low)

Support levels - 109.27 (38.2% Fib), 109, 108.50 (Jan 31 low)

Resistance levels - 110.37 (23.6% Fib), 110.85 (55-EMA), 111

Recommendation: Good to go short on upticks, SL: 110.40, TP: 109.30/ 109/ 108.50

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

April 22 19:00 UTC Released

USCold Pork Belly Stocks

Actual

58.788 Pounds M

Forecast

Previous

53.795 Pounds M

April 22 19:00 UTC Released

USBeef Stocks

Actual

450.657 Pounds M

Forecast

Previous

479.282 Pounds M

January 31 00:00 UTC 643481643481m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 643481643481m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 655301655301m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 643481643481m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 655301655301m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 643481643481m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 643481643481m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 643481643481m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

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