WEEKLY USD/JPY TECHNICAL OUTLOOKLast Update At 11 May 2014 23:14GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
101.78
55 HR EMA
101.76
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
62
14 HR DMI
+ve
Daily Analysis
Consolidation b4 one more fall
Resistance
102.79 - Apr 29 high
102.19 - Last Tue's high (AUS)
102.01 - Last Wed's high
Support
101.32 - Apr low (10th)
100.76 - Feb 04 Low
100.00 - Psychological sup
. USD/JPY - 101.86.. The pair continued previous week's decline fm a 3-week high of 103.02 to 101.43 last Wed, cross-unwinding in yen lifted dlr to 102.01, price then traded sideways on Thu & Fri as market focus was on other dlr majors.
. Looking at the daily picture, although dlr's rebound fm 101.43 to 102.01 signals the early decline fm 103.02 (last Fri's high) has formed a temporary low there, however, aforesaid fall to 101.43 confirms recent erratic rise fm 101.32 (Apr low) has ended n consolidation with downside bias remains for further weakness, a daily close below 101.32 wud be the 1st indication decline fm 2014 5-year peak at 105.45 has possibly resumed n yield re-test of 100.76 (reaction low in Feb), break wud confirm this view n extend weakness to 99.60 (being 50% r of intermediate rise fm 93.75-105.45). On the upside, only a daily close abv 103.02 wud risk stronger gain twd pivotal res at 103.77 later this month.
. Today, dlr's close at Fri's high at 101.86 suggests initial choppy trading with near term upside bias remains, abv 102.01 is needed to bring stronger correction of said decline fm 103.02, reckon 102.23 (50% r) wud hold n yield another fall. So selling on intra-day recovery is the way to go.
Recommended Content
Editors’ Picks
AUD/USD edges higher above 0.6350 ahead of PBoC rate decision
The AUD/USD pair trades in positive territory around 0.6380 during the Asian session on Monday, bolstered by the weaker US Dollar. Traders await the developments surrounding the United States and China trade discussions, while tensions between the two largest economies are intensifying.
USD/JPY slides further below mid-141.00s, fresh low since September 2024
USD/JPY drops to a fresh seven-month low, below mid-141.00s at the start of a new week as trade-related uncertainties and geopolitical risks continue to drive flows towards the JPY. The divergent BoJ-Fed expectations further exert pressure on the pair amid a bearish USD and thin liquidity during the Easter Monday holiday.
Gold climbs to near $3,350 on uncertainty about Trump's tariff policies
Gold price drifts higher to near $3,350 during the early Asian session on Monday after facing some profit-taking due to the long weekend. Uncertainty about US President Donald Trump's tariff policies and persistent geopolitical tensions continue to underpin the precious metal.
Week ahead: Eyes on flash PMIs as tariff uncertainty persists
Tariff headlines remain at the top of investors’ agendas. But flash S&P Global PMIs could attract special attention. Auctions to reveal information about demand for Treasuries. Tokyo CPI data and Canada’s retail sales also on tap.
Future-proofing portfolios: A playbook for tariff and recession risks
It does seem like we will be talking tariffs for a while. And if tariffs stay — in some shape or form — even after negotiations, we’ll likely be talking about recession too. Higher input costs, persistent inflation, and tighter monetary policy are already weighing on global growth.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.