USD/JPY quotes are consolidating

17 December, 2018

  • Prev Open: 113.535
  • Open: 113.336
  • % chg. over the last day: -0.22
  • Day's range: 113.301 – 113.520
  • 52 wk range: 104.56 – 114.56

The safe haven currency stabilized. The USD/JPY quotes are consolidating. The local support and resistance levels are 113.350 and 113.500. A technical correction is highly probable soon. The financial market participants are waiting for the Bank of Japan meeting on December, 20. You should open positions from the key levels.

The Economic News Feed for 17.12.2018 is calm.

Indicators do not provide precise signals, the price fixed between 50 MA and 200 MA.

The MACD histogram is around 0.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which points towards a bearish mood.

Trading recommendations
  • Support levels: 113.350, 113.150, 112.900
  • Resistance levels: 113.500, 113.700

If the price fixes below the local support 113.500, expect further growth towards 113.700-114.000.

Alternatively, the quotes can correct toward 113.000-112.800.


Source   Presented by JustForex
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