Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USDJPY Daily Outlook

Ichimoku analysis (Hourly chart)

 

Tenken-Sen-108.56

 

Kijun-Sen- 108.48

 

USDJPY is trading slightly weak after hitting a high of 108.66 at the time of writing. The intraday trend is still bullish as long as support 108.32 (200-H MA) holds. The strength in JPY came after UK MPs rejected the new Brexit deal. Markets eye US-China trade talks and further progress in Brexit for a major trend reversal.

 

On the lower side, 108.30 will be acting as intraday major support and any violation below will drag the pair down till 108/107.40 (61.8% fib).

 

The near term resistance is around 108.70 and any break above will take the pair to next level till 109.05/110. Major bullish continuation only above 109.05.

 

It is good to buy on dips around 108.30 with SL around 108 for the TP of 109.05.   

By Rangarajan Hariharan
  • Market Data
Close

Welcome to EconoTimes

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