DAILY USD/JPY TECHNICAL OUTLOOK
Last Update At 02 May 2018 00:26GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
109.68
55 HR EMA
109.48
Trend Hourly Chart
Up
Hourly Indicators
Easing fm o/bot
13 HR RSI
55
14 HR DMI
+ve
Daily Analysis
Consolidation b4 one more rise
Resistance
110.48 - Feb's high (2nd)
110.24 - 61.8% r of 113.75-104.57
109.92 - Intra-day's 11-week high
Support
109.52 - Y'day's NY low
109.09 - Mon's low
108.96 - Last Fri's low
. USD/JPY - 109.75.. Dlr moved narrowly in holiday-thinned Asian morning on Tue b4 climbing steadily in Europe due to renewed usd's strength. Intra-day gain accelerated in NY to 109.88 on usd's strength n then 109.92 in Aust. today.
. On the bigger picture, despite dlr erratic decline fm 118.66 (Dec 2016) to 107.32 in 2017 (Sep) confirms the early uptrend fm 2016 29-month bottom at 99.00 has formed a top there n subsequent break of this key sup to 105.55 in Feb, then to a 16-month trough of 104.57 in Mar, subsequent rally to 107.01, then to a 11-week high of 109.92 today confirms recent downtrend has made a low at 104.57, as this level was accompanied by 'bullish convergences' on daily indi- cators n price is en route to next obj. at 110.48 (Feb peak), however, reckon res at 111.48 shud cap upside. On the downside, only a daily close below 108.96 signals top made n risks weakness to 108.55, break, 107.78.
. Today, dlr's retreat fm intra-day 11-week high at 109.92 suggests initial range trading is in store, as long as 109.52/54 holds, further gain twd 110.24 is envisaged, however, as 15-min m hourly oscillators' reading would dis- play 'bearish divergences, reckon 110.48 should hold. Below 109.24, 108.96/00.
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