USD/JPY Technical Overview & Daily Chart

We expect the pair to remain bullish today as the dollar takes on the yen.

Technical Analysis
12 thg 4, 2018
USD/JPY Technical Overview & Daily Chart

Today we would take a look at the USD/JPY currency pair. Both currencies have been through a lot in the past week, which explains the great volatility in this pair.

To begin with, the Japanese yen is, as we’ve mentioned before, a traditional safety asset: traders turn their attention to it in times of uncertainty and geopolitical conflict, which usually drives its value upwards. In recent weeks the most important such development has been the trade war between the United States and China. Nevertheless, this week both countries seem to be softening their stance and investors are hopeful that a further escalation of the conflict may be avoided. Because of this calm the yen is easing off of major currencies, including the USD. In the long term it still holds the potential for growth due to the good economic data coming from Japan.

The American dollar is also under the influence of the trade negotiations with China. Thanks to Chinese President Xi Jinping’s optimistic statements on Tuesday, the dollar was able to appreciate a little against the yen. The US currency is also supported by this week’s inflation reports in the United States which show the CPI finally crossed 2%. This is an indication of stable economic growth and a signal for the Federal Reserve to continue with its interest rate increases, which may further boost the dollar.

In terms of the daily chart for the pair, today we have a pivot point located at 106.88. Currently the pair is above it and for the time being we expect it to continue to rise, so pay special attention to the nearby resistance levels at 107.11 and 107.39. On the off-chance that the price falls below the pivot, watch out for the supports at 106.60 and 106.37. The indicators of technical analysis agree on a strong buy opportunity.

SuperForex
GBP/USD Review & Technical Analysis

Technical Analysis

GBP/USD Review & Technical Analysis

The price is in a corrective movement.

SuperForex
12 thg 4, 2018
NZD/JPY: Review and Forecast

Technical Analysis

NZD/JPY: Review and Forecast

Demand for safe assets is decreasing at the moment, which negatively impacts the JPY. The deals to SELL still seem the most effective given that NZD doesn't have stimulus for further growth.

SuperForex
11 thg 4, 2018
EUR/USD Technical Analysis & Daily Chart

Technical Analysis

EUR/USD Technical Analysis & Daily Chart

The pair is likely to remain bullish today.

SuperForex
10 thg 4, 2018