|Day's range||88.789 - 89.023|
|52-week range||88.7886 - 89.0232|
Having successfully cleared 50-day SMA level, the USDJPY seems all set to conquer short-term descending trend-line resistance-mark of 113.75, break of which could accelerate its latest recovery towards 114.00 and then to the 114.45-50. Given the quote manage to sustain its up-move beyond 114.50, November high around 114.75 might offer intermediate halt during its north-run in direction to 61.8% FE level of 115.40. On the contrary, the 113.00 – 112.90 region, comprising 50-day SMA, may confine the pair’s immediate downside before reigniting the importance of ascending trend-line support of 112. ...
Considering USDCAD’s latest bounce from 1.2800–1.2790 support-zone, the pair seems again heading to confront the seven-week old descending TL resistance, at 1.2890; however, 1.2870 might offer an intermediate halt during its recovery. In case if the quote manages to conquer the 1.2890 mark, it can quickly rise to 1.2920 before targeting the 61.8% FE level of 1.2940. Should the pair fails to sustain latest pullback, the 1.2790 regains its importance, breaking which 1.2770 & 1.2745 could entertain short-term sellers. Moreover, pair’s extended declines below 1. ...
Ever since the USDJPY dropped below the 100-day & 200-day SMA confluence, around 111.60-70, the pair’s up-moves have been confined by the same region that now has an additional back-up of three-week old descending TL; however, the 110.90–111.00 horizontal-area has been successfully limiting the pair’s downturn. Hence, the 110.90 & 111.70 can be considered as strong levels to determine the quote’s near-term trend. Given the pair’s break of 111.70, it can quickly rise to 112.20, the 112.50 and the 50-day SMA level of 112.80 while its follow-on advances may aim for 113.30 and the 113. ...
USD/JPY Although two-month-old upward slanting trend-line triggered the USDJPY’s pullback, a short-term descending trend-channel resistance, at 113.70 now, is likely to confine the pair’s immediate advances. Should the pair refrain to respect the channel formation, it can quickly rise to 114.00 and then to the 114.30 levels ahead of aiming to confront the early-month high … Continue reading Important JPY Pairs’ Technical Overview: 16.11.2017
The Yen has weakened in early trading against the U.S Dollar this morning, but it is approaching important resistance levels which have proven to be strong since March of this year. Traders with a speculative taste may be tempted to sell the U.S Dollar against the Yen. Yen Weakening in Early Trading The Yen has … Continue reading Yen Churns Within Known Range