Thursday 25 August 2016

USD/JPY

USD/JPY had another indecisive movement yesterday. The bias is neutral in nearest term probably with slight bullish signals. The nearest support is located at ¥99.95. A clear break below it could trigger further bearish pressure testing the key support at ¥99.50. The intraday resistance remains ¥100.60, where is located the 200-day exponential moving average. A clear break above this level could trigger bullish pressure for testing ¥101.15 level, but while the pair is below ¥100.60 the outlook remains bearish.
The US marco agenda for today offers plenteous set of data , that will sir the market. Most important is the Jackson Hole Symposium, that starts today and the USD/JPY pair is expected to be under some selling pressure.



No comments:

Post a Comment