USD/JPY overview for June 04, 2015

4 June, 2015

General overview

The Japanese yen received fewer dividends of all majors. Investors are increasing their long positions on dips based on the uptrend continuation. The manufacturing sector ISM index points out to the positive dynamics continuation in a series of the US macro-economic reports.

The Japan and the US negative bond yields increase may put pressure on the Japanese yen.

Having consolidated for a short time below the support level of 124.30, the price returned above the level, breaking through it through down - top.

The price is finding the first support at 124.30, the next one is at 123.50. The price is finding the first resistance at 125.50, the next one is at 127.00.

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 and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

The buyers need to break above 125.50 for a steady growth.


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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...

Gold bounced off 1210 and rallied to 1220

The spot remained in a downward channel and just approached its upper boundary. The level rejected the price in the late European session...

Gold prices continued to consolidate

The weakness in the stock markets has helped to keep the prices buoyed but as the markets recover, we should see the gold prices come under pressure...


XAUUSD going downwards

Taking that into consideration looks as the market demonstrates its intention of sell-off start soon. Resistance is hold at 1250...

XAUUSD was moving aside

In order the long-terms traders are come back here the price might easily reach...

Pound continues to reach its heights

On Monday the British pound was going lower at opening...

  


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