empty
 
 
12.03.2015 06:01 PM
Technical analysis of USD/JPY for March 12, 2015

This image is no longer relevant

Fundamental Outlook:
USD/JPY is expected to trade in a lower range. USD/JPY is underpinned by the bullish dollar sentiment (ICE spot dollar index hit near-12-year high 99.985 Wednesday, last 99.67 versus 98.55 early Wednesday) amid expectations that the Federal Reserve will abandon the term "patient" from its interest-rate statement next week and could raise interest rates from near zero as soon as June. Fed's James Bullard, in an interview with the Financial Times published Wednesday, warned that the end of the Fed's near-zero interest-rate policy is overdue given the rapid pace of improvement in the jobs market. USD/JPY is also supported by demand from the Japanese importers, and the ultra-loose Bank of Japan's monetary policy. The USD/JPY gains are tempered by the Japanese exports, lower longer-dated US Treasury yields (10-year at 2.108% versus 2.121% late Tuesday), selling of the yen crosses amid diminished investor risk appetite (VIX fear gauge rose 1.08% to 16.87, S&P 500 closed 0.19% lower at 2,040.24 overnight).

Technical comment:
The daily chart is positive-biased as the MACD is bullish, stochastics stays elevated at overbought levels, 5 and 15-day moving averages are advancing.

Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 122 and the second target at 122.50. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 120.60. A break of this target would push the pair further downwards, and one may expect the second target at 120.20. The pivot point is at 120.90.

Resistance levels:
122
122.50
122.75

Support levels:
120.60
120.20
120

Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN
  • Chancy Deposit
    Deposit akaun anda sebanyak $3,000 dan dapatkan $1000 lebih lagi!
    Dalam Jun kami membuat cabutan bertuah $1000 dalam Kempen Chancy Deposit!
    Dapatkan peluang untuk menang dengan membuat deposit $ 3000 ke dalam akaun dagangan. Setelah memenuhi syarat ini, anda menjadi peserta kempen.
    SERTAI PERADUAN
  • Trade Wise, Win Device
    Daftar untuk peraduan dan tambah dana akaun anda dengan sekurang-kurangnya AS$ 500 untuk layak memenangi peranti mudah alih.
    SERTAI PERADUAN
  • Bonus 100%
    Peluang istimewa anda untuk menerima bonus 100% pada deposit anda
    DAPATKAN BONUS
  • Bonus 55%
    Dapatkan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • Bonus 30%
    Dapatkan bonus 30% setiap kali anda membuat penambahan dana akaun anda
    DAPATKAN BONUS

Artikel yang dicadangkan

Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget