Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

USD/JPY Weakening Extends Further

Published 09/12/2012, 05:36 AM
Updated 01/01/2017, 02:20 AM
USD/JPY Open 77.73 High 78.25 Low 77.69 Close 77.74

On Tuesday USD/JPY continued decreasing with 55 pips. The currency couple depreciated from 78.25 to 77.69 yesterday, matching the negative money flow sentiment at almost -16%, closing the day at 77.74. This morning the dollar is trading quietly against the yen, with movements at the lower end of yesterday's range for now.

On the 1-hour chart new downward channel has formed, while on the 3-hour chart quotes broke down of the wide trading range. Break above yesterday's top and nearest resistance 78.25 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 77.69, and consistent break bellow it could strengthen the yen further down towards next target 76.56.

There are no major economic events for Japan today.

Quotes are moving below the crossing 20 and 50 EMA on the 1-hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil too, while CCI has thinly crossed down the 100 line on the 1-hour chart, giving over all light short signals.

Technical resistance levels: 78.25 79.10 80.00
Technical support levels: 77.69 76.56 75.40
USD/JPY Chart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.