DAILY USD/JPY TECHNICAL OUTLOOK
Last Update At 14 Apr 2016 00:16GMT
Trend Daily Chart
Down
Daily Indicators
Falling
21 HR EMA
109.16
55 HR EMA
108.86
Trend Hourly Chart
Near term up
Hourly Indicators
Easing fm overbought
13 HR RSI
68
14 HR DMI
+ve
Daily Analysis
Down
Resistance
111.06 - Apr 5 high
110.67 - Mar 17 low (now res)
109.92 - Apr 05 low (now res)
Support
108.75 - Y'day's European low
108.44 - Tue's NY low
108.12 - Tue's Asian low
USD/JPY - 109.40...Dlr continued Tue's gain n rallied to 109.39 at Europe y'day. Later, despite a retreat to 109.02 in NY morning after downbeat U.S. retail sales, dlr edged higher again to 109.41, then 109.48 at Asian open today.
. On the daily picture, despite last week's break of Mar's 110.67 trough to a fresh 17-month bottom of 107.67 on Mon, then to 107.63, subsequent stronger-than-expected rebound suggests medium-term downtrend fm 2015 near 13-year peak at 125.86 (Jun) has made a temporary low n 1-2 weeks of choppy consolidation is in store b4 extending weakness to next downside obj. at 106.98 (being 61.8% pro- jection of 121.70-110.67 measured fm 113.80), however, 106.55 (38.2% r of the entire rise fm 75.32-125.86) would hold. On the upside, only a daily close abv 109.92 (prev. sup, now res) would risk stronger correction to 110.64 b4 prospect of another fall later this month.
. Today, as current price is trading abv the 21-hr n 55-hr emas, suggesting near term trend is up, so buying dlr on dips is the way to go, however, as hourly indicators would display prominent 'bearish divergences' on next upmove, 109.91 would hold n yield retreat. Below 108.75, top possibly made, 108.44._20160414091752.png)
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