USD/JPY: dollar is strengthening 01.04.2019
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on USD/JPY for a better understanding of the current market situation and more efficient trading.
Current trend
USD continues to grow moderately against JPY, renewing its highs since March 20. Last Friday, there was a lot of key macroeconomic statistics from Japan and the United States. Tokyo CPI grew from +0.6% YoY to +0.9% YoY but traders were disappointed with a slowdown in the growth of Retail Sales and Industrial Production in annual terms. Statistics from the United States reflected the continued growth in New Home Sales in February and an increase in Consumer Confidence in March. Among the negative aspects are poor statistics on Personal Income and Expenditures of citizens in January-February, which was worse than market forecasts. Today, during the Asian session, JPY is moderately supported by statistics on the Nikkei Manufacturing PMI. In March, the figure rose from 48.9 to 49.2 points, with the forecast of the preservation of the value.
Support and resistance
On the daily chart, Bollinger bands unfold horizontally. The price range narrows, reflecting the emergence of mixed trading dynamics in the short/medium term. The MACD grows, keeping a strong buy signal (the histogram is above the signal line), and tries to consolidate above the zero line. Stochastic grows but it approaches its highs, which indicates that USD can become overbought in the super short term.
It is better to keep current long positions until the situation is clarified.
Resistance levels: 111.17, 111.37, 111.50, 111.68.
Support levels: 110.94, 110.70, 110.45, 110.24, 110.00.
Trading tips
Long positions can be opened after the breakout of 111.17 with the targets at 111.60–111.68. Stop loss is 110.94. Implementation period: 1–2 days.
Short positions can be opened after the rebound from 111.17 and the breakdown of 110.94 with the target at 110.45 or 110.24. Stop loss is 111.17. Implementation period: 2–3 days.
Use more opportunities of the NPBFX analytical portal: economic calendar.
Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on USD/JPY and trade efficiently with NPBFX.
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on USD/JPY for a better understanding of the current market situation and more efficient trading.
Current trend
USD continues to grow moderately against JPY, renewing its highs since March 20. Last Friday, there was a lot of key macroeconomic statistics from Japan and the United States. Tokyo CPI grew from +0.6% YoY to +0.9% YoY but traders were disappointed with a slowdown in the growth of Retail Sales and Industrial Production in annual terms. Statistics from the United States reflected the continued growth in New Home Sales in February and an increase in Consumer Confidence in March. Among the negative aspects are poor statistics on Personal Income and Expenditures of citizens in January-February, which was worse than market forecasts. Today, during the Asian session, JPY is moderately supported by statistics on the Nikkei Manufacturing PMI. In March, the figure rose from 48.9 to 49.2 points, with the forecast of the preservation of the value.
Support and resistance
On the daily chart, Bollinger bands unfold horizontally. The price range narrows, reflecting the emergence of mixed trading dynamics in the short/medium term. The MACD grows, keeping a strong buy signal (the histogram is above the signal line), and tries to consolidate above the zero line. Stochastic grows but it approaches its highs, which indicates that USD can become overbought in the super short term.
It is better to keep current long positions until the situation is clarified.
Resistance levels: 111.17, 111.37, 111.50, 111.68.
Support levels: 110.94, 110.70, 110.45, 110.24, 110.00.
Trading tips
Long positions can be opened after the breakout of 111.17 with the targets at 111.60–111.68. Stop loss is 110.94. Implementation period: 1–2 days.
Short positions can be opened after the rebound from 111.17 and the breakdown of 110.94 with the target at 110.45 or 110.24. Stop loss is 111.17. Implementation period: 2–3 days.
Use more opportunities of the NPBFX analytical portal: economic calendar.
Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on USD/JPY and trade efficiently with NPBFX.