USD/JPY Technical Overview & Daily Chart

The USD/JPY pair has been declining little by little but we see some signs that it might return to its bullish movement soon.

Technical Analysis
29 Ogo 2017
USD/JPY Technical Overview & Daily Chart

Today we would direct our attention to the USD/JPY currency pair.

Yesterday the dollar lost some positions versus the Japanese yen. The area below 108.50 provides a strong support for the USD/JPY pair so it is likely that the prices will rebound. We can also view this lower area as a consolidation - remaining above it shows a good promise of a renewal for the bullish movement of the pair. If the prices fall below this level, however, we can expect a further retreat to lower support areas around the level of 105. In general, this pair is bound to remain volatile for some time due to the current economic climate.

There are a number of reports expected today that may affect the movement of the USD/JPY pair. These include the Bank of Japan’s CPI, as well as reports on unemployment rates in Japan and household spending. From the United States we are awaiting reports on consumer confidence and other economic data. If you time your trading around the release of these reports, you can see more volatility in the USD/JPY pair.

As of this article’s publication the USD/JPY pair is trading below the pivot point, around 108.40. Both the moving averages and the technical indicators agree on a strong sell sign.

SuperForex
EUR/JPY Technical Outlook & Daily Chart

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EUR/JPY Technical Outlook & Daily Chart

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The Jackson Hole Symposium

Technical Analysis

The Jackson Hole Symposium

Leaders and representatives of the world's most powerful central banks have gathered to discuss monetary policy in Jackson Hole, WY.

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