USD/JPY forecast for June 09, 2015

June 10, 2015

General overview

The bullish sentiment changed to bearish, despite the Japan and the United States important macroeconomic statistics lack. There was the bond yields negative differential expansion in Japan and the US markets which is a positive factor for the dollar. At the same time the Japanese currency devaluation has a positive effect on the economy of Japan - the current account balance shows a high positive gain since February. However it did not allow the pair to continue the growth.

The price is finding the first support at 123.50, the next one is at 122.40. The price is finding the first resistance at 125.50, the next one is at 127.00.

The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement and form a “Golden Cross’.

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

Trading recommendations

After the support level of 123/50 breakthrough down the way to the support 12240 will be opened.

Publication source
Fort Financial Services information  Fort Financial Services reviews

September 27, 2016
Markets start last week of September on the back foot
It hasn't been a great start for global equities in this last week of September, with European indices dropping between 1.0 to 1.5 per cent during Monday’s morning session, mirroring a similar performance in Chinese and Japanese markets overnight...
September 23, 2016
Gold rises to critical level on lower-for-longer policy signals
The price of gold extended its rebound modestly on Thursday after the US Federal Reserve provided some key signals on Wednesday that, despite a considerable probability of one Fed rate hike by the end of this year...
September 22, 2016
Moving on from the Fed
The reaction seen in currency markets yesterday to respective central bank policy decisions was instructive of the change in dynamics that we’re seeing. The BoJ enacted a number of changes to its policy regime...

HotForex Rating
FxPro Rating
Tickmill Rating
HYCM Rating
OANDA Rating
Larson&Holz IT Ltd Rating

Beeoptions Rating
365BinaryOption Rating
OptionFair Rating
Porter Finance Rating
IQ Option Rating
Empire Option Rating