The US dollar recorded a modest rise against the Japanese yen on Friday. The session began at 106.12 and ended only 18 pips higher. Daytime extreme values ??were reached at 105.54 and 106.39, respectively. At present, the outlook looks neutral, and in the case of a continuing downward movement the main challenge is the 105.40 level.
The dollar recorded a volatile session against the yen on Friday. In the end, the opening price was close to the closing price, respectively 106.74 and 106.88. In the early hours the bullish moods prevailed and so the pair reached peak for the day at 107.12. The dollar subsequently lost its accumulated momentum. However, short-term expectations remain in favor of the US currency.
After the successful breakthrough of support at 106.00 during the Asian session, the dollar continued throughout its day of downward movement to the next level of support at 105.45. In a case of a successful break at 105.45, the dollar would test 104.65. If the price returns, we can expect a resistance test at 106.00.
The dollar advanced against the yen on Friday. The US currency recorded a third consecutive rise against the yen. So the pair tested the resistance at 107.20, but no breakthrough was reached. If the bullish sentiment continues, it will be broken shortly. The session was opened at 106.21 and the final was 59 pips up. A peak of the day was reached at a rate of 107.04.
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Joined Mar 2018
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Status: Junior Member
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I think... both are important.The majority of investors who wants to evaluate long term investment decision starts with fundamental analysis of a company,an individual stock or an market as a whole.it is important for measuring a security's intrinsic value by evaluating all aspects of a business or market.But it is important that investor is capable of conducting a thorough technical analysis of stocks to gain more accuracy and profit.
The USD/JPY pair struggled to build on its intraday rebound from the 107.00 handle and was now seen oscillating in a range just below mid-107.00s, over 1-month tops.
The pair failed to capitalize on the Asian session uptick and was now being capped by bearish trading sentiment around European equity markets, which underpinned the Japanese Yen's safe-haven appeal.
The risk-off mood, further reinforced by the ongoing slide in the US Treasury bond yields, partly offset a strong follow-through US Dollar buying interest and was seen as one of the key factors keeping a lid on any additional up-move.
Heading into today's key event risk - the release of US monthly jobs data, investors' reluctance to place any aggressive bets further collaborated to the pair's range-bound/subdued price action during the early European session.
Apart from the keenly watched NFP report, the Fed Chair Jerome Powell's scheduled speech would be scrutinized for clues over the central bank's near-term monetary policy outlook and might also provide some meaningful impetus on the last trading day of the week.
The US dollar recorded a modest decline against the Japanese yen on Monday. The session started at 106.93 and the dollar lost only 18 pips. The recent upward movement is impetuous but USD/JPY continues to find support from the 20-year moving average. Levels at 107.70 remain the primary objective.
The dollar recorded another win over the yen on Wednesday. The US currency continued the bullish trend since the beginning of the week and as a result the resistance at 109.30 was pierced. Short-term indicators remain in favor of the dollar. The session was opened at a price of 108.81 and the final line was cut 61 pips higher. Peak for the day was reached at 109.45.
i recently went to a trading seminar and the guy said: - u can either trade using tech analysis or fundamental analysis. - either way u only need to concentrate on one and NOT both. is that really true when it comes to forex?
Ignored
It's about choosing primary approach and not possibility of mixing. Technical analysis and fundamental approaches are completely different, i.e. fundamental is more about exploring theoretical connection between events and market reaction, while technical analysis is empirical one, it doesn't concern on why it happened but uses historical patterns of a price itself to predict its future movement.
