Technical analysis of USD/JPY for January 12, 2018 888011000 110888 USD/JPY is under pressure. The set evaluated the assistance at the key level of 111.00 overnight(January 11). Currently, the pair is off that low but stays capped by the descending 20-period moving average, which stands below the 50-period one. And the relative strength index is yet to recuperate the neutrality level of 50, showing an absence of upward momentum for the pair. The U.S. dollar stayed on the defensive as the euro leapt 0.7%to US$ 1.2031(day-high at US$ 1.2059) as the European Reserve bank’s December conference minutes helped to boost financiers’expectations that the reserve bank is preparing to minimize its financial stimulus program. For that reason, intraday bearishness continues, and the set should sink towards 110.45 when crossing listed below 110.80. If the rate relocations in the opposite instructions, a brief position is suggested listed below 111.95 with a target of 110.80. Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, while the price below the pivot point is a signal for a brief position. The red lines reveal the assistance levels and the green lineindicates the resistance level. These levels can be used to get in andleave trades.Strategy: OFFER, stop loss at 111.95, take earnings at 110.80. Resistance levels : 112.15, 112.35, and 112.55 Assistance levels: 110.80, 110.45, and 110.00. The product has been supplied by InstaForex

By | January 12, 2018

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