Relu21's Blog

Avatar

USD/JPY

USD/JPY
US Dollar well supported by rising Treasury yields with 111.00 in sight
The US Dollar is trading little changed on the upside at around 110.80 against the Japanese Yen as the rising US benchmark Treasury yields support in across the board. Technically next hurdle for USD/JPY is the big figure of 111.00.
Momentum beyond the 111.00 handle is likely to get extended towards the 111.25-30 supply zone, above which the pair seems all set to extend its bullish trajectory in the near-term. On th…
Read full story
Translate to English Show original
orto leave comments
Avatar

Daily Analysis

USD/JPY

The USDJPY had a bullish momentum yesterday topped at 108.78. As you can see on my daily chart below, we have two consecutive Dojis followed by a bullish candle after a bearish trend, suggests a potential bullish pullback/reversal. The bias is bullish in nearest term testing 109.10. A clear break and daily close above that area could trigger further bullish pressure testing 110.00 - 110.96 region. Immediate support is seen around 107.90. A clear break below that area could lead price t…
Read full story
Translate to English Show original
orto leave comments
Avatar

Daily Forecast

Daily Forecast

USD/JPY
The USDJPY continued its bearish momentum yesterday and hit 118.35 earlier today. The bias remains bearish in nearest term testing 118.00. Immediate resistance is seen around 119.15. A clear break above that area could lead price to neutral zone in nearest term testing 119.50 - 120.05 area which remains a good place to sell with a tight stop loss. Fundamental focus will be on the US ADP Non-Farm Employment Change, Trade Balance and the FOMC meeting minutes.
Look carefu…
Read full story
Translate to English Show original
orto leave comments
Avatar

CURRENCY VOLATILITY

US ISM Non-Manufacturing. PMI

10:00am NY Time US ISM Non-Manufacturing. PMI Forecast 58.0 Previous 59.0
Deviation: 2.5 (BUY USD 60.5 / SELL USD 55.5)
Recommended Pair
USD/JPY
Worse news = Sell
Better news = Buy

Trade Plan
U.S. ISM Non-Manufacturing PMI is better known as the U.S. Services PMI; the current expectation is above the 50 level at 55.5. This figure indicates an expansion in the services sector where 50 is the medium point for the PMI. We´ll be using a deviation of around 2.5 …
Read full story
Translate to English Show original
orto leave comments