USD/JPY forecast for May 26, 20151

26 May, 2015

General overview

Japanese exporters felt confident enough in the first quarter and according to the April results, the low exchange rate indicates the positive trend continuation. Taking into account the profit taking on the long positions in the US stock market on Friday and the carry trade closing deals there was the AUD/JPY decrease. Given the fact that the US dollar bullish trend is gaining momentum – we should not count on the quotations strong decrease.

Buyers have tested and consolidated under the resistance level of 121.60. The level breakthrough was on the increased volume - bulls are now strong.

The price is finding the first support at 120.40, the next one is at 119.20. The price is finding the first resistance at 121.60, the next one is at 122.40.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is consolidating.

Trading recommendations

The pair is close to the strong resistance level of 121.60. If the pair breaks it we expect the growth to 122.40.


Source link  
Euro met an obstacle around 1.1700

The spot recovered to 1.1750 where the euro spent the first part of the night. An increased selling pressure weighed on the major in the mid-Asian session...

Gold keeps losing ground

The previous upward momentum lost strength at 1330 dollars per once. After facing selling resistance at the level the pair turned around and softened...

Gold started week with a gap downwards

The precious metal is around the lower boundary of the upward channel now. If sellers remain in the driver’s seat the spot may continue...


XAU/USD pair keeps its buy mode intact

The spot broke above previous day’s top and climbed to 1355 over the night trades. Gold is likely to continue its growth. Buyers aim at 1360 now...

Rebound from 1280 lifted gold prices

The spot jumped to 1290 and broke the level soon after testing it. As the most probable scenario, we consider further moving upwards towards...

Gold price sharply dropped

Buyers continued to struggle with 1290. However, all their attempts faced sellers' resistance around the hurdle. The level rejected the price...


Sellers continued to dominate

The euro bounced from 1.1750 and weakened to 1.1700 during the night and morning trades. The resistance resides at 1.1750, the support comes in at 1.1700...

Gold prices extended their recovery

XAU/USD pushed away from 1260 and rallied towards 1270 dollars per ounce. The resistance exists at 1270, the support stands at 1260 dollars per ounce...

Gold prices turned around

Gold prices turned around when the spot reached 1265. Sellers drove the price to 1255 where they lost momentum. The precious metal returned to 1265...

  


Share: