Tuesday, February 12, 2019

USD/JPY - 12 February 2019


Fundamental Highlights

The Dollar/Yen broke to new yearly highs as Global Equities ignite this rally. This bullish momentum could continue if the Equity markets remain positive today. Nothing important on the economic calendar for Yen. But the US JOLTs Job Openings and FED’s Powell Speech could invite market volatility.

Technical Analysis

The Dollar/Yen finally broke out from the 110 important resistance yesterday and took price towards 110.50. The next possible destination for the bulls is 111.10 (R1). The bears need to take price below 110 to slow the bulls’ momentum down.

Support: 110 / 109.60
Resistance: 111.1 / 111.40

Chart (H4)