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10th Nov 2014 USD/JPY Analysis

10th Nov 2014 USD/JPY Analysis

dollar, Yen, USD/JPY outlook, USD/JPY technical analysis, USD/JPY Forecast, Japanese Yen, USDJPY analysis, USDJPY outlook, USDJPY technical analysis, USDJPY analysis, USDJPY forecast, USD/JPY analysis, Bank of Japan, BOJ, Kuroda, Haruhiko Kuroda, Shinzo Abe, U.S Dollar, USD, Abenomics USD/JPY traded just below 115.6 for the week as the candle closed slightly abreast of the 161.8% of the uptrend Fibonacci expansion

dollar, Yen, USD/JPY outlook, USD/JPY technical analysis, USD/JPY Forecast, Japanese Yen, USDJPY analysis, USDJPY outlook, USDJPY technical analysis, USDJPY analysis, USDJPY forecast, USD/JPY analysis, Bank of Japan, BOJ, Kuroda, Haruhiko Kuroda, Shinzo Abe, U.S Dollar, USD, Abenomics The 161.8% of the uptrend Fibonacci expansion on the daily charts saw resistance as the last 2 days of trading saw 115.51 challenged and unable to overcome the climb.

dollar, Yen, USD/JPY outlook, USD/JPY technical analysis, USD/JPY Forecast, Japanese Yen, USDJPY analysis, USDJPY outlook, USDJPY technical analysis, USDJPY analysis, USDJPY forecast, USD/JPY analysis, Bank of Japan, BOJ, Kuroda, Haruhiko Kuroda, Shinzo Abe, U.S Dollar, USD, Abenomics Overbought indications on the H4 charts saw the candlesticks interact with the the 20SMA as the bullish strength subsides.

The dollar index slide 0.6% as U.S. stocks held at all-time highs after payrolls data supported speculation that the economy is withstanding an overseas slowdown. Jobs creation dropped as the dollar slumped amid bets interest rates will stay low. With the U.S gross domestic product expanding in the third quarter, inflation indicators have remained low, and investors have responded by the lack of strength in breaking through 115.5 last week.

Trading below 114.2, we are expecting support at 113.3, 112.3 to be retested before continuing the fundamental trade for a weaker Yen. Should the week be supported at 114.24, newer highs could be seen at 116.17

 

 

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bearish112.27113.25114.2114.4115116.17 114.2114.8113.48

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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