fxsoriginal  DAILY USD/JPY TECHNICAL OUTLOOK

Last Update At 30 Jun 2020 00:19GMT

Trend Daily Chart

Sideways

Daily Indicators

Neutral

21 HR EMA

107.49

55 HR EMA

107.31

Trend Hourly Chart

Up

Hourly Indicators

Turning down

13 HR RSI

64

14 HR DMI

+ve

Daily Analysis

Consolidation with upside bias

Resistance

108.54 - Jun 09 high
108.24 - Jun 09 NY high
107.88 - Y'day's high

Support

107.45 - Last week's high (Thur, now sup)
107.05 - Y'day's low
106.81 - Last Fri's low

USD/JPY - 107.62... Despite swinging sideways in Asia n European morning, the pair met renewed buying at 107.05 n then jumped in NY session to 107.88 on cross-selling in jpy together with usd's strength b4 retreating.

On the bigger picture, dlr's erratic 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 on risk- off trades due to coronavirus pandemic, dlr's rally to 111.71 due to broad-based usd's strength signals low has been seen. Although price has staged a strong rebound after retreating to a 7-week low at 105.99 in May, dlr's fall to 106.08 last Tue suggests recovery has ended at 109.84 n weakness to 105.99 would be seen, break would head twd 105.15, below, 104.51. On the upside, only a daily close abv 108.54 would indicate pullback has ended, 109.84 later.

Today, dlr's cross-inspired rally abv last week's 107.45 high (now sup) to 107.88 on Mon confirms upmove fm Jun's low at 106.08 has resumed, o/bot read- ings on hourly oscillators would limit gain to 108.50/60 n yield retreat. On the downside, a daily close below 107.45 signals top is made, 107.05, 106.81/85.

USDJPY

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