Last Update At 08 Oct 2015 23:41GMT
Trend Daily Chart
Sideways
Daily Indicators
Neutral
21 HR EMA
119.91
55 HR EMA
119.98
Trend Hourly Chart
Sideways
Hourly Indicators
Turning up
13 HR RSI
48
14 HR DMI
-ve
Daily Analysis
Choppy trading b4 one more rise
Resistance
120.66 - Sep 21 high
120.57 - Tue's high
120.38 - Hourly chart
Support
119.63 - Y'day's low
119.49 - Last Thur's low
119.23 - 70.7% r of 118.68-120.57
. USD/JPY - 119.89... Dlr came under renewed selling pressure in Asia Thur n briefly penetrated Wed's low at 119.75 to 119.63, price then recovered on short-covering in Europe but briefly fell to 119.73 after Fed minutes b4 rebounding.
. The bigger picture remain unchanged were dlr's rally fm Aug's 116.15 low to 121.74 signals early correction fm 2015 near 13-year peak at 125.86 (Jun) has ended there, however, subsequent daily swings inside the 1-month long 21.74-118.60 range suggest recent volatile consolidation would continue as not even Sep's FOMC outcome n Fri's disappointing U.S. jobs report could move price outside the indicated broad range. Therefore, one can buy dlr on dips in anticipation of subsequent headway twd 121.24 but only abv 121.74 would signal an upside break has occured n yield swift gain to 122.15 (61.8% r of 125.28-116.15) whilst below 118.60/68 sup would risk weakness to 117.79 (70.7% r of 116.15-121.74).
. Today, we're cautiously holding a long position in anticipation of another rise, bv 120.16/18 res would be the1st signal pullback fm this week's 120.57 (Tue) high over n yield re-test of this lvl later, then 120.66 but res 120.99 should hold. Below 119.63 may risk 119.30/40 b4 prospect of a strg recovery.
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