Last Update At 04 Oct 2015 23:12GMT
Trend Daily Chart
Sideways
Daily Indicators
Neutral
21 HR EMA
119.87
55 HR EMA
119.89
Trend Hourly Chart
Sideways
Hourly Indicators
Turning up
13 HR RSI
54
14 HR DMI
+ve
Daily Analysis
Choppy trading with upside bias
Resistance
120.99 - Sep 17 high
120.66 - Sep 21 high
120.41 - Last Fri's high
Support
119.49 - Last Thur's low
119.25 - Last Tue's low
118.60 - Sep's low (Sep 04)
. USD/JPY - 119.98... The greenback went through a roller-coaster session on a daily basis last week but price swung the most on Fri when dlr tumbled fm 120.41 to as low as 118.68 in NY but only to rally to 120.13 near the close.
. On the bigger picture, although dlr's rally fm Aug's 116.15 low to 121.74 signals early correction fm 2015 near 13-year peak at 125.86 (Jun) has ended there, subsequent daily swings inside the 1-month long 121.74-118.60 range suggest recent volatile consolidation would continue as not even Sep's FOMC outcome n Fri's disappointing U.S. jobs report could move price outside said indicated broad range. Therefore, one can buy dlr on dips in anticipation of subsequent headway twd 121.24 but only abv 121.74 would signal an upside break has occured n yield swift gain to 122.15 (61.8% r of 125.28-116.15) whilst below 118.60/68 sup would risk weakness to 117.79 (70.7% r of 116.15-121.74).
. Today, Fri's rally fm NY morning low of 118.68 to as high as 120.13 near NY close as broad-based gain in U.S. stocks after initial selloff had boosted risk appetite, suggesting consolidation with upside bias would be seen n abv 120.41 would bring stronger gain to 120.66 but previous res at 120.99 should hold.
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