Last Update At 30 Jul 2015 00:00GMT
Trend Daily Chart
Sideways
Daily Indicators
Neutral
21 HR EMA
123.78
55 HR EMA
123.68
Trend Hourly Chart
Near term up
Hourly Indicators
Rising
13 HR RSI
64
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
124.48 - Tue's high
124.19 - Last Thur's high
124.03 - Y'day's high
Support
123.01 - Mon's low
122.92 - Jul 14 low
122.45 - 50% r of 120.42-124.48
. USD/JPY - 123.90... Despite dlr's brief drop to 123.33 on Tue, rebound Chinese stocks prompted yen-selling n dlr later ratcheted high to 123.93 in NY. Price briefly dipped to 123.55 after FOMC statement before rising to 124.03 morning. Dlr briefly dropped to 123.55 after FOMC but only to rise to 124.03.
. Dlr's rally fm 120.42 (Jul low) to 124.48 last week confirms early correction fm Jun's near 13-year peak at 125.86 has ended there n despite fall to 123.01 Mon, y'day's rise to 124.03 suggests the erratic fall fm 124.48 has ended at 123.01 n further consolidation inside 123.01-124.48 broad range wud be seen. As long as 123.33 sup (y'day's low) holds , gain to 124.19 (last Thur's high) is envisaged, abv 124.48 res would encourage for a re-test of 125.86 in Aug, abv would extend LT uptrend fm 2011 record low of 75.32 to 126.78, this is 61.8% proj. of the intermediate upmove fm 115.57 to 125.86 measured fm 120.42. Below 123.01 would risk 122.45 (50% r fm 120.42-124.48)but 121.97 (61.8% r) wud hold.
. Today, we're holding a long position entered y'day at 123.45 for gain twd 124.19 res but profit should be taken ahead of key U.S. GDP later. Only below 123.33 would risk weakness to twd 122.92 but 122.45 should remain intact.
Recommended Content
Editors’ Picks
EUR/USD advances to near 1.0750 as risk appetite regains balance
EUR/USD extends its winning streak for the third successful day, trading around 1.0730 during the Asian session on Friday. The risk-sensitive currencies like the Euro gain ground as risk appetite regains balance ahead of US Nonfarm Payrolls.
GBP/USD advances to 1.2550, all eyes on US NFP data
The GBP/USD pair trades on a stronger note around 1.2540 amid the softer US Dollar on Friday. The US Federal Reserve Chair Jerome Powell delivered a modest dovish message after the meeting on Wednesday, which weighs on the Greenback.
Gold lacks firm near-term direction, remains stuck in a range ahead of US NFP
Gold price struggles to gain any meaningful traction amid mixed fundamental cues. The Fed’s less hawkish outlook drags the USD to a multi-week low and lends support. Bets for a delayed Fed rate cut and a positive risk tone cap gains ahead of the US NFP.
Solana price pumps 7% as SOL-based POPCAT hits new ATH
Solana price is the biggest gainer among the crypto top 10, with nearly 10% in gains. The surge is ascribed to the growing popularity of projects launched atop the SOL blockchain, which have overtime posted remarkable success.
US NFP Forecast: Nonfarm Payrolls gains expected to cool in April
The NFP report is expected to show that the US economy added 243,000 jobs last month, sharply lower than the 303,000 job creation seen in March. The Unemployment Rate is set to stay unchanged at 3.8% in the same period.