Slobodan Drvenica
Windsor Brokers
USD/JPY
The USDJPY maintains firm tone and extends last Friday’s jump, looking for retest of 2021 high at 114.69, posted on Oct 20.
Repeated downside rejections at 113.40 zone (Fibo 23.6% of 109.11/114.69 rally) left a higher base after subsequent rebound signaled an end of shallow pullback.
Daily studies remain in full bullish setup and gain fresh positive momentum, while Friday’s bullish engulfing adds to positive signals.
The pair ended October with nearly 2.5% advance (the biggest monthly gain since March) marking the third straight month in green.
Bulls look for a firm break of cracked strong 114.60 resistance zone (Fibo 76.4% of 118.66/101.18 / 2017 peaks) to open way for extension through psychological 115 barrier and signal continuation of an uptrend from 102.59 (2021 low).
Converged 5/10DMA’s offer immediate support at 113.97, guarding more significant 113.40 higher base (reinforced by rising 20DMA), which needs to hold to keep bulls in play.
Res: 114.69; 115.00; 115.50; 116.00.
Sup: 113.97; 113.40; 113.00; 112.56.
-637713538062807471.png)
Interested in USD/JPY technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Recommended Content
Editors’ Picks
AUD/USD tumbles toward 0.6350 as Middle East war fears mount
AUD/USD has come under intense selling pressure and slides toward 0.6350, as risk-aversion intensifies following the news that Israel retaliated with missile strikes on a site in Iran. Fears of the Israel-Iran strife translating into a wider regional conflict are weighing on the higher-yielding Aussie Dollar.
USD/JPY breaches 154.00 as sell-off intensifies on Israel-Iran escalation
USD/JPY is trading below 154.00 after falling hard on confirmation of reports of an Israeli missile strike on Iran, implying that an open conflict is underway and could only spread into a wider Middle East war. Safe-haven Japanese Yen jumped, helped by BoJ Governor Ueda's comments.
Gold price jumps above $2,400 as MidEast escalation sparks flight to safety
Gold price has caught a fresh bid wave, jumping beyond $2,400 after Israel's retaliatory strikes on Iran sparked a global flight to safety mode and rushed flows into the ultimate safe-haven Gold. Risk assets are taking a big hit, as risk-aversion creeps into Asian trading on Friday.
WTI surges to $85.00 amid Israel-Iran tensions
Western Texas Intermediate, the US crude oil benchmark, is trading around $85.00 on Friday. The black gold gains traction on the day amid the escalating tension between Israel and Iran after a US official confirmed that Israeli missiles had hit a site in Iran.
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu, WIF token’s show of strength was not just influenced by Bitcoin price reclaiming above $63,000.