Technical analysis of USD/JPY for June 08, 2018 888011000 110888 USD/JPY is expected to trade with a bearish outlook. The pair broke and pulled back listed below its 50-period and 20-period moving averages. The relative strength index is heading downward. The crucial resistance at 109.85 needs tokeep the selling pressure. As long as 109.85 holds on the benefit, look for a further drop with targets at 109.15 and 108.90 in extension.Fundamental Introduction: U.S. wholesalers restocked at a modest rate in April, according to a report released by the Commerce Department earlier today. Wholesale stocks increased a seasonally changed 0.1%in April from a month earlier, which went beyond the flat reading economists surveyed by The Wall Street Journal had actually expected. In March, stocks increased 0.2%. April’s increase came after modification in private inventories contributed 0.13 portion indicate the modified 2.2%first-quarter growth rate for gross domestic product.Chart Description: The black line shows the pivot point. Presently, the cost is above the pivot point which is a signal for long positions. It will show brief positions if it stays below the pivot point. The red lines reveal the assistance levels, while the green lineindicates the resistance levels. These levels canbe used to get in and exit trades.Resistance levels: 110.05, 110.30, 110.55 Support levels: 109.15, 108.90, 108.45 The material has actually been offered by InstaForex Business-www.instaforex.com

By | June 8, 2018

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