Thursday, November 22, 2018

USD/JPY - 22 November 2018

Tags

Fundamental Highlights

The Dollar/Yen rises as risk appetite improves driving investors away from the safe haven Yen. The improvement in risk appetite came after global stocks recovered from their weekly slump which helped push the Dollar/Yen pair higher. Given that the US market will be closed today due to Thanksgiving, we expect no major moves from the Dollar/Yen pair.

Technical Analysis

The pair rises above the 200-period moving average but rejects breaking above the 50-period moving average. The next leg up will only occur if prices break above the 50-period moving average. The break above the 50-period moving average will expose the next key resistance level at 113.65.

Support: 112.42/ 111.95
Resistance: 113.11 / 113.65

Chart (H4)
USDJPY

 
Billion
Positions Opened
 
Thousand
Active Users
 
Trillion
Traded Value