DAILY TECHNICAL OUTLOOK ON USD/JPY
Last Update At
15 Jan 2013 23:22GMT
Trend Daily Chart
Up
Daily Indicators
Easing fm o/bot
21 HR EMA
88.85
55 HR EMA
88.94
Trend Hourly Chart
Sideways
Hourly Indicators
Rising fm o/sold
13 HR RSI
45
14 HR DMI
+ve
Daily Analysis
Choppy consolidation to continue
Resistance
90.00 - Psychological res
89.67 - Mon's high
89.12 - Y'day's Asian res
Support
88.28 - Y'day's low
87.98 - Jan 10 NY sup
87.40 - Jan 09 European sup
USD/JPY - 88.80 ... Despite y'day's initial brief rise to 89.63 in Asia y'day, failure to penetrate Mon's 30-month peak at 89.67 together with the yen- supportive comments fm Japanese ECOMIN Amari triggered massive profit-taking n price subsequently tumbled to 88.62 in Tokyo midday n then 88.28 b4 recovering.
Y'day's sharp selloff confirms MT uptrend fm 2011 Oct's record low of 75.32 has indeed made a temp. top at 89.67 n few days of 'choppy' consolidation is in store, possibly until BOJ's policy meeting held on next Mon n Tue, n as long as 89.12 res holds, another corrective decline to 88.28 is still likely, below wud bring a stronger retrace. of intermediate rise fm 86.83 to 87.91/98 (61.8% r of 86.83-89.67 n chart sup), however, anticipated low readings on hourly oscillators shud limit downside n reckon 87.23/40 sup area shud contain downside n yield strg rebound later. On the upside, a daily close abv 89.35 wud signal aforesaid upmove has once again resumed to 89.67 n then twds 90.00.
Today, selling dlr on intra-day recovery is recommended in anticipation of another drop but one can buy there for prospect of a rebound.
Last Update At
15 Jan 2013 23:22GMT
Trend Daily Chart
Up
Daily Indicators
Easing fm o/bot
21 HR EMA
88.85
55 HR EMA
88.94
Trend Hourly Chart
Sideways
Hourly Indicators
Rising fm o/sold
13 HR RSI
45
14 HR DMI
+ve
Daily Analysis
Choppy consolidation to continue
Resistance
90.00 - Psychological res
89.67 - Mon's high
89.12 - Y'day's Asian res
Support
88.28 - Y'day's low
87.98 - Jan 10 NY sup
87.40 - Jan 09 European sup
USD/JPY - 88.80 ... Despite y'day's initial brief rise to 89.63 in Asia y'day, failure to penetrate Mon's 30-month peak at 89.67 together with the yen- supportive comments fm Japanese ECOMIN Amari triggered massive profit-taking n price subsequently tumbled to 88.62 in Tokyo midday n then 88.28 b4 recovering.
Y'day's sharp selloff confirms MT uptrend fm 2011 Oct's record low of 75.32 has indeed made a temp. top at 89.67 n few days of 'choppy' consolidation is in store, possibly until BOJ's policy meeting held on next Mon n Tue, n as long as 89.12 res holds, another corrective decline to 88.28 is still likely, below wud bring a stronger retrace. of intermediate rise fm 86.83 to 87.91/98 (61.8% r of 86.83-89.67 n chart sup), however, anticipated low readings on hourly oscillators shud limit downside n reckon 87.23/40 sup area shud contain downside n yield strg rebound later. On the upside, a daily close abv 89.35 wud signal aforesaid upmove has once again resumed to 89.67 n then twds 90.00.
Today, selling dlr on intra-day recovery is recommended in anticipation of another drop but one can buy there for prospect of a rebound.
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