12/11/14 USD/JPY at 7 year’s low of 116 on the back of weaker consumer confidence.


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 Yen traded to the lowest against the Dollar in 7 years as 116 was attained yesterday. Consumer confidence fell as the Japan’s economy watchers’ ratings fell in data released yesterday.

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 Resistance stays at 115.8-116.3 as the Yen weakness looks set to continue, but with no key data release today on the dollar side could see subdued movements during today’s trading.

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 A rebound of the 20 moving average on the hourly charts gave rise an excellent re-entry opportunity on the bullish trend as the 104 and 200 hourly averages remains upward sloping.

With overbought signals on the H4 not showing the intended selling off, the market is firmly on the view that the fundamentally weak Yen is carrying on its slide towards 120 or some economists say 125. With dips mostly watched as an entry signal to carry on buying more on this pair, do look out if 115.4 and 114.6 are reattained today as support to re-enter the market.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bearish 113.82114.9115.5115.8116.32116.9 114.6113.7117

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