Fort Financial Services - Analytics

    Fort Financial Services

    545.50 6.00/10
    100% of positive reviews
    Real

    USD/JPY (a 4-hour chart)

    USD/JPY (a 4-hour chart)

    General overview

    Weak Japanese GDP put pressure on the yen. The strong yen had a negative impact on the Japanese exports. That fact can make the monetary authorities take additional measures.

    The first support resides at 113.80, the next is at 113.00. The first resistance stands at 114.60, the next one is at 115.40.

    There is a confirmed and a strong sell signal. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement forming a “Golden Cross”. The downward movement will be until the price is under the Cloud.

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

    Trading recommendations

    The approach to the level of 114.60 may lead to a price rebound down. The potential rebound targets are the support levels of 113.80, 113.00.


    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