DAILY USD/JPY TECHNICAL OUTLOOKLast Update At 14 Jan 2016 00:14GMT
Trend Daily Chart
Down
Daily Indicators
Falling
21 HR EMA
117.86
55 HR EMA
117.86
Trend Hourly Chart
Sideways
Hourly Indicators
Falling
13 HR RSI
30
14 HR DMI
-ve
Daily Analysis
Consolidation b4 with downside bias
Resistance
118.85 - Last Fri's high
118.38 - Y'day's high
118.08 - Tue's high
Support
117.19 - Mon's NY low
116.69 - Mon's fresh 4-1/2 month trough
116.54 - 1.618 times ext. of 120.65-118.70 fm 119.70
. USD/JPY - 117.41.. Although dlr edged higher initially on Wed to 118.38 in Europe as rebound in global stocks boosted risk sentiment, price 'tanked' in NY afternoon when U.S. equities tumbled, dlr fell to 117.35 in Asia today.
. Looking at the bigger picture, dlr's break of chart sup at 118.06 (Oct'slow) to a 4-1/2 month trough of 116.69 in Australia on Mon bodes ill for the greenback in the coming days as such price action suggests re-test of key sup at 116.15 is on the cards. A break of this level, being reaction low of the major decline fm 2015 near 13-year peak at 125.86 (Jun) would pressure price to 115.57(2014 Dec low) n later twd 113.31, being 50% r of intermediate rise fm 100.76. Current falling daily technical indicators add credence to aforesaid bearish scenario n only abv 119.70 would dampen present bearish scenario on dlr.
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