USD/JPY Technical Outlook & Daily Chart

More bearishness is expected in this pair, as the yen continues to overtake the weakened dollar.

Technical Analysis
22 मार्च 2018
USD/JPY Technical Outlook & Daily Chart

Today we would take a look at the USD/JPY currency pair. It has been much more volatile over the past few months and since the beginning of 2018 the yen has overtaken the dollar: from near the level of 112 now the USD/JPY is trading around the level of 105, which was last reached in 2016.

Yesterday the Federal Reserve opted to increase interest rates in the US by .25%, as predicted. However, this turned out to be yet another “dovish” hike as the US dollar actually lost positions immediately afterwards. The Fed did not meet analysts’ expectations in announcing there would only be two more hikes this year, since the markets were hoping for three more. The dollar index fell to 89.78 and both the euro and the Japanese yen were able to take advantage of the dollar’s weakness.

The Japanese yen continues its bullishness. It has been doing well for months based on the positive economic outlook of the Bank of Japan. Now that there are tensions about an international trade war, more traders are turning to the yen, which is a traditional safety asset that always receives attention in times of trouble.

In terms of the daily chart for the USD/JPY, we have a pivot point located at 106.15, and the pair is trading below it. We expect to see it overcome the nearby daily support levels of 105.66 and 105.39. On the off-chance that it moves above the pivot, please be aware of the resistances at 106.42 and 106.91. The indicators of technical analysis agree on a strong sell recommendation.

SuperForex
GOLD (XAU/USD): Short Review and Forecast

Technical Analysis

GOLD (XAU/USD): Short Review and Forecast

The FED is likely to change the rate today. So the deals to SELL seem most effective at the moment.

SuperForex
21 मार्च 2018
EUR/GBP Technical Analysis & Daily Chart

Technical Analysis

EUR/GBP Technical Analysis & Daily Chart

We expect the bearish trend to continue.

SuperForex
20 मार्च 2018
AUD/CAD Technical Analysis

Technical Analysis

AUD/CAD Technical Analysis

We expect the continuation of the current downtrend.

SuperForex
20 मार्च 2018