26.11.201212:25 Forex Analysis & Reviews: USD/JPY: Under Pressure

Long-term review

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Overview:
USD/JPY continues to range-trade. The rate is underpinned by buying of the yen crosses amid positive global risk sentiment (S&P surged 1.3% on Friday) on 20.7% jump in U.S. online Black Friday sales, signs international creditors edging toward deal to unlock Greece's next tranche of aid, and better-than-expected German Ifo business climate data. USD/JPY is also supported by expectations that opposition Liberal Democratic Party will win elections next month and introduce aggressive monetary easing; rising USDJPY interest differential; demand from Japan importers. But USD/JPY upside is limited by Japan exporter sales; profit-taking on JPY-shorts; lingering concerns about U.S. fiscal cliff of tax increases and spending cuts as U.S. lawmakers reconvene negotiations after Thanksgiving break.
Preference:
Sell below 82.6 with 82 and 81.75 in sight.
Support Levels:
S1 - 82.06 (Friday's low)
S2 - 81.65 (Wednesday's low)
S3 - 81.13-81.08 (Tuesday's low-Nov. 19 low)
Alternative scenario:
Buy above 82.6.The upside penetration of 82.6 will call for 82.85 and 83.
Resistance Levels:
R1 - 82.84 (Thursday's seven-and-a-half month high)
R2 - 83.00
R3 - 83.39 (March 27 high)
Technical Comment:

The pair stands below its new resistance and remains under pressure.USD/JPY daily chart is mixed as MACD is bullish, 5- & 15-day moving averages are rising; but stochastics is bearish at overbought.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.