< img width =" 450" src= "http://qkfx.com/wp-content/uploads/2016/11/technical-analysis-of-usdjpy-for-november-24-2016.png" alt=" USDJPYM30.png"/ > USD/JPY is anticipated to dominate its upside movement. The pair bounced off its 20-period and 50-period moving averages, and is speeding up on the upside. The relative strength index is bullish above its neutrality level at 50, which promotes further benefits.
On Wednesday, U.S. indices closed blended. The Dow Jones Industrial published a brand-new all-time high while the Nasdaq 100 consolidated. The Dow Jones Industrial Average got 59 points (+0.3%) to 19,083, the S&P 500 was flat at 2,205, and the Nasdaq Composite was down 6 points (-0.1%) to 5,381.
Health Care Devices & & Provider, Capital Product and Telecommunication Services sectors exceeded, while Food, Beverage & & Tobacco, Utilities and Realty sectors underperformed.The ICE U.S. Dollar Index rose 0.65% to 101.70, a fresh 13-year high after stronger than expected U.S. financial data.Therefore, as long as the crucial assistance at 111.30 is not broken, the set is most likely to challenge its next resistance at 113.75, and 114.30 in extension. Trading Recommendation: The pair is trading above its pivot point.
It is most likely to trade in a wider variety as long as it remains above its pivot point. Long positions are suggested with the very first target at 113.75 and the 2nd one at 114.30. In the option situation, short positions are advised with the very first target at 110.75 if the price moves below its pivot point. A break of this target is most likely to press the pair more downwards, and one might anticipate the 2nd target at 110.20. The pivot point lies at 111.30. Resistance levels: 112.00, 112.45, 113.15 Support levels: 110.20, 109.80, 109.20 The product has actually been supplied by
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