Wednesday, September 12, 2018

USD/JPY - 13 September 2018


Fundamental Highlights

Dollar/Yen will be front and center today as the U.S. and China will have a new round of talks as reported by the Wall Street Journal. These talks may lead to the elimination of the additional tariffs that Trump spoke about during his interview on Friday. Traders will be watching closely the next chapter of this trade war as it will have an effect on the Dollar/Yen pair. Moreover during today's session we have the CPI (Consumer Price Index) and the Core CPI reports coming out of the U.S..

Technical Analysis

The U.S. dollar fell against the Japanese Yen during yesterday's trading session. We have seen a lot of strength from the dollar lately which is why we're still bullish on the US currency. The pair seems to be heading bullishly to the 111.65 level. If USD/JPY breaks this resistance we may see it making its move in the direction of the 112.00 figure.

Support: 111.18 110.93
Resistance: 111.65 112.00

Chart (H1)