fxsoriginal   DAILY USD/JPY TECHNICAL OUTLOOK
Last Update At 14 Aug 2019 00:15GMT

Trend Daily Chart
Down

Daily Indicators
Rising fm o/s

21 HR EMA
106.17

55 HR EMA
105.65

Trend Hourly Chart
Near term up

Hourly Indicators
Easing fm o/bot

13 HR RSI
17

14 HR DMI
+ve

Daily Analysis
Consolidation with upside bias

Resistance
107.69 - 61.8% r of 109.31-105.06
107.09 - Last week's high (Tue)
107.97 - Y'day's high

Support
106.30 - Last Thur's high (now sup)
105.79 - 61.8% r of 105.06-106.97
105.58 - Y'day's Asian high (now sup)

USD/JPY - 106.53.. Although dlr remained on the back foot in Tokyo trading on Tue due to weakness in Asian stocks n fell to 105.07 in Europe, price jumped in NY due to upbeat news on Sino-U.S. trade talks to 106.97 b4 easing.

Looking at the bigger picture, dlr's fall fm 118.66 (Dec 2016) to 107.27. in 2017 (Sep) confirms uptrend fm 2016 29-month bottom at 99.00 has made a top. Despite a strg rise fm 2018 16-month bottom at 104.57 to 114.55 in Oct, subse- quent flash crash to a 9-month low at 104.79 in early Jan suggests correction is over. However, dlr's erratic rise to a 4-month high at 112.39 in Apr indicates choppy trading abv 104.79 would continue. Having said that, dlr's erratic fall to 106.79 in Jun suggests downside bias remains n Mon's weakness to 105.06 would bring re-test of 104.79, break would head twd 103.71. On the upside, only abv 107.86 risks stronger correction twd 109.31 later this month.

Today, dlr's rally fm 105.07 to as high as 106.97 confirms recent fall has made a low at Mon's fresh 30-month trough at 105.06 n as long as 106.23/30 area holds, stronger retracement to 107.15/20 is likely, however, o/bot readings on hourly indicators should cap price at 107.86. Only below 106.00 risks 105.57.

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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

GBP/USD off 7-month highs, still firmer as Tories hold the lead

GBP/USD retraces from the new seven-month highs of 1.3180 but remains strongly bid, as weekend polls have reaffirmed a solid lead for PM Johnson's Conservatives. Cable dropped on Friday amid upbeat US data.

GBP/USD News

EUR/USD steadying above 1.1050 amid upbeat German export data

EUR/USD is trading above 1.1050, attempting a recovery after Germany reported an increase in exports in October. EUR/UDS dropped sharply on Friday amid upbeat US Non-Farm Payrolls and weak German industrial output. 

EUR/USD News

Forex Today: US-Sino trade tensions prevail, Boris closer to victory, EUR/USD licking its wounds

Trade talks: President Donald Trump has called on the World Bank to stop lending to China, a move that may aggravate tensions, with only six days to go until Washington is set to slap new tariffs on Beijing. Negotiations continue.

Read more

Gold clings to modest gains above $1460 level, lacks follow-through

The latest NFP report surpassed most optimistic estimates, which provided a goodish intraday lift to the US dollar and eventually prompted some aggressive selling around the dollar-denominated commodity.

Gold News

USD/JPY: tensions between Washington and Beijing back the JPY

Japanese Q3 Gross Domestic Product doubled the market’s expectations, up by 0.4%. The US calendar has nothing to offer today, attention focus on Washington-Beijing relationship. USD/JPY pressuring the post-NFP low, decline to accelerate once below 108.40.

USD/JPY News

Forex Majors

Cryptocurrencies

Signatures