USD/JPY trades above support cluster

Note: This section contains information in English only.
Source: Dukascopy Bank SA

On Friday morning, the USD/JPY traded above the support cluster that was located from 106.10 down to 105.87.

In general, the rate was expected to surge up to the pivot point at 106.54, which will provide resistance. 

No more data this week.


This week's data releases are over. Nothing that might impact the USD/JPY is scheduled to be published.

Next week, the US FOMC Meeting Minutes are set to be published at 18:00 GMT on Wednesday.

This publication has caused adjustments of the USD/JPY charts since January from 7.7 to 19.4 base points.

USD/JPY short-term daily review

On Friday morning the USD/JPY was located above a support cluster that was providing support from 105.87 to 106.09.

In general, the currency pair was expected to surge up to the pivot point at 106.54 level. If this pivot point is broken, the rate will again test the resistance at 106.80.

Meanwhile, it is highly unlikely that the rate will decline below the described cluster of support levels.

Hourly Chart



On the daily candle chart, it can be observed that the surge of the currency exchange rate was stopped by a 23.60% Fibonacci retracement level at the 106.98 level.

Moreover, it appears that the large scale descending channel this week was only pierced and not broken.

Daily chart



Traders remain long

Since Wednesday, 73% of USD/JPY open position volume on the Swiss Foreign Exchange was in long positions.

By the middle of Friday's London trading hours the sentiment had increased to being 74% short.

Meanwhile, trader set up orders were neutral. Namely, in the 100-pip range 52% of pending orders were set to buy and 48% were to sell.

Previously, trader set up pending orders were bullish, as 69% of pending orders were set to buy and 31% were to sell.

Actual Topics

Subscribe to "Fundamental Analysis" feed

تسجيل
كي تعرف المزيد عن منصة تداول دوكاسكوبي بنك للعملات وعقود الفروقات ومعلومات أخرى متعلقة بالتداول,
يرجى الاتصال بنا أو طلب اتصال.
للمزيد من المعلومات حول التعاون العملي المحتمل,
يرجى الاتصال بنا او ترك طلب لاعادة الاتصال
للمزيد من المعلومات حول منصة تداول الفوركس\الخيارات الثنائية, السوق السويسري للفوركس و اي معلومات اخرى تتعلق بالتداول,
يرجى الاتصال بنا أو طلب اتصال.
كي تعرف المزيد عن منصة تداول دوكاسكوبي بنك للعملات وعقود الفروقات ومعلومات أخرى متعلقة بالتداول,
يرجى الاتصال بنا أو طلب اتصال.
للمزيد من المعلومات حول منصة تداول العملات المشفرة\عقود الفروقات\الفوركس, السوق السويسري للفوركس و اي معلومات اخرى تتعلق بالتداول,
يرجى الاتصال بنا أو طلب اتصال.
للمزيد من المعلومات عن الوسطاء المعرفين واي معلومات أخرى متعلقة بالتداول,
يرجى الاتصال بنا أو طلب اتصال.
للمزيد من المعلومات حول التعاون العملي المحتمل,
يرجى الاتصال بنا او ترك طلب لاعادة الاتصال