fxsoriginal  Weekly USD/JPY technical outlook

Last Update At 19 Sep 202100:05GMT.

Trend daily chart

Sideways

Daily Indicators

Neutral

21 HR EMA

109.92

55 HR EMA

109.80

Trend hourly chart

Up

Hourly Indicators

Turning down

13 HR RSI

64

14 HR DMI

+ve

Daily analysis

Consolidation with upside bias.

Resistance

110.79 - Aug's high (11th).
110.44 - Sep's high (8th).
110.15 - last week's high (Mon).

Support

109.82 - Last Thur's high (now sup).
109.61 - Last Thur's reaction low (NY).
109.46 - Last Thur's Asian high (now sup).

USD/JPY - 109.99.. The pair went through a 'roller-coaster' week. Despite falling fm 110.15 (Mon) to a 4-week low of 109.12 Wed in tandem with US yields, price later rallied on broad-based usd's strength n climbed back to 110.07 Fri.

On the bigger picture, dlr's fall fm 118.66 (Dec 2016) to 2019 low at 104.46 (Sep) confirms early uptrend fm 2016 29-month bottom at 99.00 has hit a top there. Despite hitting a 3-1/2 year bottom of 101.19 in Mar 2020 on risk-off trades due to COVID-19 pandemic, dlr's rally to 111.71 the same month signals correction over. Despite dlr's erratic fall to 102.60 (Jan 2021), subsequent rise to 116.65 at the start of Jul signals pullback is over n as price has risen from 108.73 in early Aug to 110.79, re-test of 111.65 is envisaged but abv needed to head twd 2020 112.22 peak. Having said that, dlr's drop fm 110.79 in Aug would bring choppy swings, Only below 108.73 risks 108.35, break extends twd 107.49.

Today, dlr's rally to 110.07 (NY) in tandem with US yields suggests pull back fm Sep's 110.44 peak has ended at 109.12 n rising hourly indicators signal upside bias remains for gain to 110.15, break extends twd 110.44, 'bearish diver gences' on hourly indicators would cap dlr at 110.79. Below 109.82 risks 109.46.

USDJPY

Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD slides under 1.16 as US Retail Sales smash estimates

EUR/USD is trading under 1.16 after US Retail Sales smashed estimates with 0.7% in September. Treasury yields are rising. The risk-on mood continues to underpin the pair, as the ECB policymaker Wunsch dismisses inflation concerns. 

EUR/USD News

GBP/USD retreats below 1.3750 after US data

GBP/USD has pared some of its gains after US Retail Sales beat estimates, with the core group hitting 0.8% last month. Earlier, investors shrugged off dovish comments from two BOE members. 

GBP/USD News

XAU/USD slumps to $1,770 area on upbeat US data, surging US bond yields

Gold started the last day of the week on the back foot and extended its slide to a fresh daily low of $1,770 in the early trading hours of the American session pressured by the dollar's resilience and surging US Treasury bond yields.

Gold News

Crypto bulls on winning streak pushing for more

Bitcoin price favors bulls reaching $60,000 by the end of this week and onwards to new all-time highs by the end of next week. Ethereum price broke a bearish top line and could hit new all-time highs by next week in tandem with Bitcoin. 

Read more

Why is Tesla going up?

Tesla's (TSLA) stock price has finally pushed higher in a series of steady and sure moves. We had nearly given up on our bullish call with Tesla stock as it kept struggling around the $800 level.

Read more

Majors

Cryptocurrencies

Signatures