USD/JPY has been in a bullish mood

14 December, 2018

  • Prev Open: 113.277
  • Open: 113.535
  • % chg. over the last day: +0.26
  • Day's range: 113.423 – 113.652
  • 52 wk range: 104.56 – 114.56

USD/JPY has been in a bullish mood for the last week. Right now the quotes are consolidating. The local support and resistance levels are 113.400 and 113.650. A technical correction is highly possible. You should keep an eye on the US economic news feed.

Tankan published a positive report during the Asian trading session.

The price has fixed above the 200 MA and 50 MA which points towards a bullish mood.

The MACD histogram is closing in on 0.

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

Trading recommendations
  • Support levels: 113.400, 113.150, 112.900
  • Resistance levels: 113.650, 113.850

If the price fixes above the support level of 113.650, it is necessary to consider buying USD/JPY. The movement is tending to 114.000.

Alternatively, the USD/JPY quotes can descend toward 113.150-113.000.


Source   Presented by JustForex
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