USD/JPY Steady As Markets Scent Fed Hike
ZIFX com | Jun 18, 2014 05:17AM ET
Open 102.17
High 102.31
Low 101.81
Close 102.13
On Tuesday the USD/JPY increased with 40 pips. The currency couple appreciated from 101.81 to 102.24 yesterday, matching the positive money flow sentiment at over +8%, closing the day at 102.13. This morning the dollar lifted slightly further against the yen, reaching 102.31.
On the 1 hour chart quotes are back into the range trading, while on the 3 hour chart trading is within wider scope. Break above today's top and nearest resistance 102.31 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 101.81, and consistent break below it could strengthen the yen further down towards next target 100.94.
Quotes are moving above the 20 and 50 the EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 102.31 103.20 104.05
Technical support levels: 101.81 100.94 100.10
Today so far +11 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 102.19 SL 101.93 TP 102.69, exit sent at 6:00 GMT+1.
Today so far +96, yesterday +72.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.