USDJPY is poised to end the week up more than 1%. Although USDJPY fell to 137.50, bias remains to the upside. USDJPY Price Analysis: Break below 137.50, decline to 200-DMA immediate; otherwise 100-DMA is optical. , USDJPY is expected to end the week almost flat, having fallen from around 1 7.00 to 138. 6 last week after a soft inflation report from the United States (US) fueled speculation that the Federal Reserve (Fed) may hold off on raising interest rates. This week, however, USDJPY is recovering. At the time of writing, USDJPY is trading at 1 0.37. USDJPY PRICE ANALYSIS: TECHNICAL OUTLOOK Although USDJPY fell nearly 5% last week, USDJPY remains bullish. At the time of writing, USDJPY is comfortably above 1 0.00. However, USDJPY failed to break above the 100-day exponential moving average (EMA) at 1 0.95, which could worsen the rally to the November 11 high of 1 2. 8. Notably, the Relative Strength Index (RSI) broke out of oversold territory, suggesting that USDJPY buyers are outnumbering sellers. On the downside, key support levels for USDJPY are the September 22 low of 1 0.3 , followed by this week’s November 15 low of 137.65. On the upside, key resistance levels for USDJPY are at the 100-day EMA at 1 0.95, followed by 1 2. 8 and the 50-day EMA at 1 5.08.

Ethan Andrews

Learn More →

Dodaj komentarz

Twój adres e-mail nie zostanie opublikowany.