USD/JPY is currently trading at 109.57, up with 0.55%
for the day, having posted daily high at 109.63 and low at 108.87, which was
the session opening. The US macro data that was released today showed positive
numbers and a small increase in the US Treasury yields was seen today along
with the worldwide equities recovery.
Next on the calendar of macro news are the speeches of
the central bankers Janet Yellen and Mario Draghi and Japan’s preliminary
Nikkei Manufacturing PMI for August. So definitely I expect an intersting
development for the USD/JPY pair next days.
The four-hour time frame is showing upward momentum.
The price crossed to above its bearish 20-day SMA, which is easing its downside
slope. Meanwhile the pair remains below the 100-day and 200-day SMAs, both
trending downwards. Stochastic is displaying strong bullish momentum nad has
entered into extreme overbought territory. RSI is also aiming higher,
but is currently located around its mid-line.
First support is seen at 108.87 (the daily low) and
next at 108.55 (Friday’s low). Looking to the upside, good resistance is
provided by the 100-day SMA at 110.00 and higher at 110.35.
No comments:
Post a Comment