USDJPY awaits the negative motive – Analysis - 17-01-2017

Economies.com
2017-01-17 04:41AM UTC

The USDJPY pair continues to fluctuate around the key support 113.97 without managing to confirm breaking it until now, noticing that the EMA50 forms negative pressure that supports the continuation of the bearish wave inside the minor channel that appears on chart, while stochastic loses its positive momentum clearly to reach the thresholds of the overbought areas.

 

Therefore, these factors reinforce the chances of breaking the above mentioned support followed by pushing the price to head towards our main targets that begin at 111.97 and extend to 109.90, taking into consideration that breaching 115.65 level will stop the expected decline and lead the price to recover on the intraday and short term basis.

 

Expected trading range for today is between 112.70 support and 115.00 resistance.

 

Expected trend for today: Bearish

Forex and Currency News

Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...
USD/JPY news

Forex

Japan sends the stronger warning after yen crashes to 34-year nadir
2024-03-27 08:50AM UTC
Yen tumbled in European trade on Wednesday against a basket of major rivals, sharpening losses for ...
AUD/USD news

Forex

Aussie is worst performing G8 currency after inflation data
2024-03-27 05:33AM UTC
The Australian dollar fell in Asian trade on Wednesday against a basket of major rivals on track ...

Forex Technical Analysis

EUR GBP Analysis

Forex

The EURGBP settles below the resistance – Forecast today – 28-3-2024
2024-03-28 05:37AM UTC
EURGBP Pair Analysis and Forecast Expected Scenarios New negative close below the bearish ...
EUR JPY Analysis

Forex

The EURJPY leans above the major support – Forecast today – 28-3-2024
2024-03-28 05:35AM UTC
EURJPY Pair Analysis and Forecast Expected Scenarios Stability above the bullish ...
GBP JPY Analysis

Forex

The GBPJPY repeats the negative closings – Forecast today – 28-3-2024
2024-03-28 05:35AM UTC
GBPJPY Pair Analysis and Forecast Expected Scenarios Weak trades yesterday with fluctuation ...