empty
 
 
25.04.2014 05:57 PM
Technical analysis of USD/JPY for April 25, 2014

This image is no longer relevant

Overview:

USD/JPY is expected to trade with bearish bias. It is undermined by the flows to haven JPY and unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 0.38% to 13.32 overnight) on flare-up in tensions between Ukraine and Russia. USD/JPY is also weighed by the Japanese exports sales, weaker dollar sentiment (ICE spot dollar index last 79.74 versus 79.86 early Thursday) as bigger-than-expected 24,000 increase in the U.S. jobless claims in week ended April 19 to 329,000 (versus 315,000 forecast) and drop in Kansas City Fed manufacturing composite index to 7 in April from 10 in March offset stronger-than-expected 2.6% increase in the U.S. March durable goods orders (versus +2.0% forecast). But USD/JPY losses are tempered by the demand from Japan's importers and positions adjustment before weekend.

Technical сomment:
Daily chart is still positive-biased as MACD and stochastics are in bullish mode.

Trading recommendation:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 101.85. A breach of this target will move the pair further downwards to 101.65. The pivot point stands at 102.50. In case the price moves in the opposite direction and bounces back from support level, and then it moves above its pivot point, it is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 102.70 and the second target at 102.95.

Resistance levels:
102.70
102.95
103.20

Support levels:
101.85
101.65
101.40

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $1000 lebih banyak!
    Pada Juni kami mengundi $1000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback