USD/JPY Technical Analysis

We have a good buy opportunity in the medium term.

Technical Analysis
2019年4月23日

Today we would take a look at the USD/JPY pair. This pair has been much less volatile in the last ten days than we’d normally expect and is trading in a very narrow range between 112.20 and 111.70.

The Japanese yen is currently (somewhat surprisingly) resisting the dollar and managed to push the price below the level of 112. There have not been any changes from within Japan, and the Bank of Japan is holding their dovish monetary course steady, so the yen is not reacting to internal factors. Rather, it is benefiting based on risk sentiment. Unless any stronger factors affect the dollar and push it further in one direction or another, or central banks around the globe surprise the markets with rate hikes (which is highly unlikely right now), the yen will hold its ground in the current economic climate.

The American dollar lately has been giving off a more mixed vibe than usual. Yesterday the US published their home sales report for March which was lower than expected. Today we are awaiting two more housing reports, but more importantly, on Friday data on the US GDP for the first quarter of 2019 will be published, and that will be the strongest indicator regarding the health of the American economy. Right now there is a strong risk aversion bias on the market, which is boosting both the dollar and the yen.

In the weekly term, we should keep an eye on the pivot point located at 111.96. There is a slight bullish bias for the pair this week, so watch out for the resistances at 112.15 and 112.36. If the bears prevail again (especially on negative data from the US), look to the support levels at 111.75 and 111.56. In the medium term, the indicators of technical analysis recommend a strong buy position.

Anna Sneider

Technical Analysis

EUR/USD Technical Analysis

The pair has turned bearish once again.

Anna Sneider
2019年4月22日

Technical Analysis

EUR/GBP Technical Analysis

We can buy the pair today.

Anna Sneider
2019年4月18日

Technical Analysis

GBP/USD Technical Analysis

The pair is giving us mixed signals today, but we can try selling it.

Anna Sneider
2019年4月16日