Fort Financial Services - Analytics

    Fort Financial Services

    566.00 7.00/10
    100% of positive reviews

    USD/JPY (a 4-hour chart)

    USD/JPY (a 4-hour chart)

    General overview

    The Japan economic showed the machinery and equipment orders reduction by 7.9% m/m in June while the strongest decline was forecasted - by 6.5% m/m. However, it did not affect the market.

    We did not expect the US retail sales publication better than the consensus forecast. The initial jobless claims report was expected unchanged at the level of 270K. The release showed 274K.

    The pair USD/JPY is showing a technical recovery from the minimum when the dollar turned downwards and fell against other major currencies. However, the trades are below the key resistance of 125.50.

    The price is finding the first support at 124.30, the next one is at 123.50. The price is finding the first resistance at 125.50, the next one is at 127.00.

    The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement.

    The MACD indicator is in a negative territory. The price is decreasing.

    Trading recommendations

    If the price fixates below the support 125.50, it may continue the downward trend in the short term. The potential targets are 123.50 and 122.40.

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree