Daily Technical Outlook on Major -USD/JPY

  DAILY USD/JPY TECHNICAL OUTLOOK
Last Update At 15 Nov 2017 00:27GMT

Trend Daily Chart
Up

Daily Indicators
Bearish divergences

21 HR EMA
113.50

55 HR EMA
113.54

Trend Hourly Chart
Sideways

Hourly Indicators
Falling

13 HR RSI
41

14 HR DMI
-ve

Daily Analysis
Consoldiation b4 one more fall

Resistance
114.34 - Last Tue's high
114.07 - Last Thur's high
113.91 - Y'day's high

Support
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.

USDJPY

Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.