DAILY USD/JPY TECHNICAL OUTLOOK
Last Update At 15 Nov 2017 00:27GMT
Trend Daily Chart
21 HR EMA
55 HR EMA
Trend Hourly Chart
13 HR RSI
14 HR DMI
Consoldiation b4 one more fall
114.34 - Last Tue's high
114.07 - Last Thur's high
113.91 - Y'day's high
113.09 - Lsst Thur's 1-week low
112.96 - Oct 31 low
112.73 - 100% proj. of 114.74-113.40 fm 114.07
. USD/JPY - 113.42.. Despite initial gain to 113.91 in early European trad ing, usd's broad-based weakness n falling U.S. yields knocked the pair lower to 113.31 in NY morning b4 recovering on renewed selling in yen crosses.
. On the bigger picture 1st, despite dlr's resumption of MT fall fm 118.66 (Dec 2016) to retrace the uptrend fm 2016 29-month bottom at 99.00 to 107.32 in Sep, subsequent impressive rally on rising U.S. yields to 113.45 in early Oct, then last Mon's 7-1/2 month peak at 114.74 confirms aforesaid decline has made a low there n outlook remains supportive for price to head twds 115.51 (Mar high) after consolidation, however, reckon 116.60 (80.9% r of 118.66-107.32) should hold. Having said that, dlr's retreat to 113.09 (Thur) suggests temporary top has been made n consolidation is seen b4 up. Only a daily close below 112.96 signals top is made n may risk stronger correction twds 111.65 b4 rebound.
. Today, dlr's decline fm 113.91 to 113.31 on Tue n present falling hourly indicators suggests downside bias remains n below last week's 113.09 low would extend early fall fm last Mon's 7-1/2 month peak at 114.74 to daily obj. at 112. 96, however, reckon 112.30/40 should hold. Only abv 113.91 risks 114.07.
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