Last Update At 26 Nov 2015 00:03GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning down
21 HR EMA
122.66
55 HR EMA
122.67
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
51
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
123.38 - Last Thur's Eurpoean high
123.26 - Mon's high
122.94 - Y'day's high
Support
122.26 - Y'day's low
122.21 - Last Mon's low
122.01 - Nov 05 high (now sup)
. USD/JPY - 122.68... Although dlr extended recent decline to a 1-week low of 122.26 in Asi y'day, selloff in euro in Europe triggered broad-based buying in the dlr, price rallied to 122.94 in NY b4 retreating.
. On the bigger picture, last week's break of 123.61 res to a 12-week peak of 123.77 has justified our recent bullish stance on dlr, as this move signals correction fm 2015 near 13-year peak at 125.86 (Jun) has ended earlier at 116.15 (Aug low). Y'day's intra-day rally after initial weakness to 122.26 suggests aforesaid pullback fm 123.77 has ended there n outlook remains supportive for gain to 124.01 (80.9% r of 125.86-116.15), then 124.63 in Dec, a daily close abv there needed to retain bullish scenario for further headway twd 125.86. On the downside, only a daily close below 122.21/26 would risk stronger retracement twd 121.48/58 b4 rebound.
. Today, dlr's intra-day retreat fm 122.94 in NY suggests initial consolidation is in store in Asia, however, present broad-based weakness in yen signals upside bias remains, abv 122.94/96 would bode well for gain twd 123.26 later, abv suggests correction fm 123.77 is ovre n only below 122.48 risks 122.26.
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