News

USD/JPY technical analysis: Greenback trading at four-day low ahead of Fed’s Powell

  • USD/JPY is under pressure ahead of Fed’s Powell testimony. 
  • The market is pressure the 108.75 support. 
 

 

USD/JPY daily chart

 
USD/JPY is trading just below the 109.00 handle and the 200-day simple moving average (DMA) on the daily chart. In both September and November, the spot has been accelerating to the upside. Fed’s chief, Jerome Powell, is going to be testifying on the economy before a special Congressional commission at 16:00 GMT. Investors will be on the lookout for any clues about the future of monetary policy in the US.
 
 
 

USD/JPY four-hour chart

 
USD/JPY is challenging the 108.75 support level while trading just below the 50 and 100 SMAs. If the sellers keep the pressure on the market can continue to drift down towards the 108.47 and 107.93 levels, according to the Technical Confluences Indicator.
  
 

USD/JPY 30-minute chart

 
USD/JPY is under pressure near 4-day lows. Resistances are seen at the 108.90 and 109.03 price levels, according to the Technical Confluences Indicator.
  

Additional key levels

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.