Flown
in the swiftness of time now the safe-haven is biting
the dust on the roller coaster ride.
The Japanese Yen is currently weaker and pressured by the greenback. During
today’s trading the USD/JPY pait marked an intraday high at 113.52. A level not
seen since late March 2016.
The mixed Japanese macro data released today additionally
influenced the pair.The Nikkei Manufacturing PMI didn’t achieved the target
set. But the Japanese leading economic index for September posted relevant
numbers.
Technical readings are shifting the mood into positive
sounds. The price is placed well below the 50-day, 100-day and 200-day simple
moving averages. RSI is placed within extreme values and showing bullish trend.
Stochastic is also pointing extreme overbought market but displaying lack of
momentum.
First support is located at 109.19 and second at 108.52. Looking to the upside,
bulls are targeting the first resistance placed at 113.82. In case of
conquering it, next will be thinking of 114.63.
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