USD/JPY started to grow after a long descent

27 December, 2018

  • Prev Open: 110.230
  • Open: 111.301
  • % chg. over the last day: +0.85
  • Day's range: 110.809 – 111.340
  • 52 wk range: 104.56 – 114.56

USD/JPY started to grow after a long descent. Yesterday the quotes grew by 100 points and updated the local maximums. Right now the safe haven currency is consolidating and has good prospects for growth. Positions should be opened from the key levels.

The Economic News Feed for 27.12.2018 is calm.

The indicators do not provide precise signals, the price has fixed between 50 MA and 200 MA.

The MACD histogram is in the positive zone but below the signal line, which gives a weak signal to buy USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.


Trading recommendations

  • Support levels: 110.750, 110.150
  • Resistance levels: 111.400, 111.900, 112.250

If the price fixes above the resistance level of 111.400, expect further growth of the USD/JPY quotes toward 111.900-112.250.

Alternatively the quotes can descend toward 110.250-110.100.


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