Daily technical and trading outlook – USD/JPY
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Last Update At 30 Nov 2021 00:05GMT.
Trend daily chart
Up
Daily Indicators
Bearish divergences
21 HR EMA
113.68
55 HR EMA
113.93
Trend hourly chart
Sideways
Hourly Indicators
Neutral
13 HR RSI
55
14 HR DMI
+ve
Daily analysis
Choppy consolidation to continue.
Resistance
114.49 - Last Tue's low (now res).
114.20 - Last Fri's NY high.
113.95 - Mon's high.
Support
113.42 - Mon's NY low.
113.00 - Mon's 2-week low.
112.73 - Nov's low (09).
USD/JPY - 113.82. Dlr swung wildly in hectic trading on Mon, despite initial recovery to 113.87 in Asia, price fell to a 2-week trough of 113.00 ahead of European open b4 rallying on cross-selling in yen to 113.95 in NY morning.
On the bigger picture, DLR's fall FM 118.66 (Dec 2016) to 2019 low at 104 .46 (Sep) confirms early uptrend FM 2016 29-month bottom at 99.00 has hit a top there. Despite hitting a 3-1/2 year bottom of 101.19 in Mar 2020 on risk-off trades due to COVID-19 pandemic, DLR's rally to 111.71 the same month signals correction over. Despite DLR's erratic fall to 102.60 (Jan 2021), subsequent rise to 116.65 at the start of Jul, then break of 2020 top at 112.22 to a fresh 3- year peak of 115.51 last week signals LT rise FM 2020 3-1/2 year low at 101.19 is en route twd 116.17. Having said that, Fri's selloff to 113.06 confirms temp. top is made n a weekly close below Nov's 102.73 would risk 112.07, then 110.83.
Today, DLR's retreat FM 113.95 suggests consolidation with downside bias remains but below 113.00 needed to extend recent fall FM 115.51 twd 112.73, bullish convergences on hourly indicators would prevent steep fall n yield correction tom. Only a daily close abv 114.00 risks retracement to 114.25, then 114.50/60.
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