USD/JPY Technical Overview & Daily Chart

The yen is currently resisting the dollar, pulling the price down.

Technical Analysis
24 may 2018
USD/JPY Technical Overview & Daily Chart

Today we would take a look at the USD/JPY currency pair. After steadily rising for the past two months, this week the yen took charge and the rate turned to a decline once again.

The US dollar remains consistently strong. The American currency is supported by positive economic statistics. With low unemployment and rising inflation, it is expected that the Federal Reserve will implement another interest rate increase in June. Yesterday the FOMC published the minutes from their meeting at the beginning of May, which only strengthened that view.

While the economic situation in Japan remains unchanged and there are still worries that the Bank of Japan needs to address, the yen has been able to put up a bit of a resistance this week. This comes after a sentiment of insecurity on the market: the United States and China were holding trade negotiations in order to avoid a trade war, but President Trump did not appear satisfied with the talks. This cast another doubt on global trade, and also put a question mark on the upcoming summit between Trump and Kim Jong-un on June 12. Because of this, investors have turned their attention to the yen again, which is a safety asset. Just remember that the yen’s strength is always tied to fear and instability - at the first sign of a resolution of the current conflict the dollar will take charge again.

In terms of the daily chart today we have a pivot point for the USD/JPY pair located at 110.11. We expect the pair to remain bearish today, so pay attention to the nearby support levels at 109.34 and 108.79. If the pair climbs above the pivot, then look for towards the resistances at 110.66 and 111.43. The indicators of technical analysis show mixed signals, but overall lean towards a recommendation to buy the pair.

SuperForex
AUD/USD Technical Analysis

Technical Analysis

AUD/USD Technical Analysis

The pair will go up.

SuperForex
22 may 2018
EUR/USD Technical Analysis & Daily Chart

Technical Analysis

EUR/USD Technical Analysis & Daily Chart

We expect the pair to remain bearish.

SuperForex
22 may 2018
EUR/USD Technical Analysis

Technical Analysis

EUR/USD Technical Analysis

The pair will move down.

SuperForex
21 may 2018