Daily Technical Outlook on Major -USD/JPY

   DAILY USD/JPY TECHNICAL OUTLOOK
Last Update At 14 Jun 2018 00:22GMT

Trend Daily Chart
Up

Daily Indicators
Neutral

21 HR EMA
110.37

55 HR EMA
110.30

Trend Hourly Chart
Sideways

Hourly Indicators
Falling

13 HR RSI
35

14 HR DMI
-ve

Daily Analysis
Consolidation with downside bias

Resistance
111.40 - May's 4-month high (21st)
111.07 - May 22 NY high
110.85 - Y'day's 3-week high

Support
110.09 - Intra-day low (AUS)
109.85 -Mon's NY low
109.20 - Last week's low (Fri)

. USD/JPY - 110.16.. Dlr continued this week's winning streak n climbed to 110.72 in Europe, despite retreat to 110.35, price spiked to a fresh 3-week top of 110.85 after expected Fed's rate hike b4 falling to 110.27 on profit taking.

. On the bigger picture 1st, dlr's erratic fall fm 118.66 (Dec 2016) to 107 .32 in 2017 (Sep) confirms the early uptrend fm 2016 29-month bottom at 99.00 has made a top there. Despite weakness to a 16-month trough of 104.57 in Mar, subse- quent rally to 110.04 at the start of May, then 111.40 signals recent decline has made a low there, as this level was accompanied by 'bullish convergences' on the daily indicators. Having said that, dlr's cross-inspired selloff to 108.12 in late May suggests correction of said upmove fm 104.57 has occured n would head to 107.98 (50% r), reckon 107.18 would contain weakness n bring rebound. On the upside, only abv 110.85 signals pullback over n risks 111.30/40.

. Today, dlr's strg retreat fm 110.85 confirms recent upmove fm 108.12 has made a temp. top there as this lvl was accompanied by 'bearish divergences' on hourly indicators n downside bias remains for weakness to 109.81 (38% r) but rec kon 109.60 would remain intact. Only abv 110.85 risks 111.02/07 b4 correction.

USDJPY

 

Interested in USDJPY technicals? Check out the key levels

    1. R3 111.31
    2. R2 111.08
    3. R1 110.71
  1. PP 110.49
    1. S1 110.12
    2. S2 109.89
    3. S3 109.52

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