USD/JPY overview for July 08, 2015

8 July, 2015

General overview

The market shares dynamics will set the course of the trades within the pair USD / JPY. It is connected with the Japanese currency peculiarities which is the funding currency for the carry trade transactions. The energy and the bank sectors are among the leaders on the dip. It will put pressure on the stock market. But taking in consideration the oil market sales, we cannot expect the US dollar sharp decline. Obviously, investors will open short-term longs on the dips.

The price is finding the first support at 121.60, the next one is at 120.40. The price is finding the first resistance at 122.40, the next one is at 123.50.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Dead Cross”. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is falling.

Trading recommendations

The trend is a down side. The potential decrease targets are two levels of support: 121.60 and 120.40.


Source link  
Yellow metal returned to a growth

Buyers failed to reclaim 1260 and stepped back in the night. The price slightly eased and corrected to 1253...

Undertone for Gold was clearly positive

The undertone for Gold was clearly positive on Thursday. The spot was growing the first part...

Gold maintained its bid tone

Buyers defended the 1230 level on Friday. Fresh bids around the level coupled with broad base...


Gold failed to sustain recovery

The pair pulled back in the Asian night and reached 1260 in the mid-Asian session. The level limited sellers' advance..

Gold remained well offered

The XAUUSD pair came under intense selling pressure on Thursday. The spot pushed away...

Brent oil prices maintained their negative bias

Sellers broke 55.50 and remained within the level in the night...


Brent oil prices remained in an upward channel

However, the benchmark softened to its lower band...

Brent oil prices gapped higher

A strong energy demand in the Asian region supported oil prices despite a rebound in Libyan oil production which still weigh...

Gold prices weakened

The undertone for Gold was clearly positive. However, buyers failed to retake 1260 on Monday. The level rejected the price downwards...

  


Share: