Slobodan Drvenica
Windsor Brokers
USDJPY
The pair remains in red for the third straight day and hit marginally lower low on Friday at 112.02, pressuring strong support at 111.95 (Fibo 61.8% of 110.83/113.74 / 06 Dec low).
Break and close below 111.95 would generate bearish signal for further weakness towards next targets at 111.69/62 (100/200SMA’s) and would look for test of key supports at 111.02 (daily cloud base) and 110.83 (27 Nov low) in extension.
Wednesday’s long bearish candle continues to weigh, along with dovish Fed, keeping bias with bears.
Broken daily Kijun-sen which caps today’s action, marks initial resistance at 112.37, with extended upticks expected to remain under converged 10/55SMA’s at 112.80/84.
Res: 112.37; 112.66; 112.84; 113.09
Sup: 111.95; 111.62; 111.52; 111.02
Interested in USDJPY 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
EUR/USD retreats to 1.0750, eyes on Fedspeak
EUR/USD stays under modest bearish pressure and trades at around 1.0750 on Wednesday. Hawkish comments from Fed officials help the US Dollar stay resilient and don't allow the pair to stage a rebound.
GBP/USD struggles to hold above 1.2500 ahead of Thursday's BoE event
GBP/USD stays on the back foot and trades in negative territory below 1.2500 after losing nearly 0.5% on Tuesday. The renewed US Dollar strength on hawkish Fed comments weighs on the pair as market focus shifts to the BoE's policy announcements on Thursday.
Gold fluctuates in narrow range above $2,300
Gold struggles to make a decisive move in either direction and moves sideways in a narrow channel above $2,300. The benchmark 10-year US Treasury bond yield clings to modest gains near 4.5% and limits XAU/USD's upside.
SEC vs. Ripple lawsuit sees redacted filing go public, XRP dips to $0.51
Ripple (XRP) dipped to $0.51 low on Wednesday, erasing its gains from earlier this week. The Securities and Exchange Commission (SEC) filing is now public, in its redacted version.
Softer growth, cooler inflation and rate cuts remain on the horizon
Economic growth in the US appears to be in solid shape. Although real GDP growth came in well below consensus expectations, the headline miss was mostly the result of larger-than-anticipated drags from trade and inventories.