Fort Financial Services - Analytics

    Fort Financial Services

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    USD/JPY (a 4-hour chart)

    USD/JPY (a 4-hour chart)

    General overview

    The United States revealed the Initial Jobless Claims for the last week 265K (the previous value was 259K; the forecast was 267K). The USA also released Philadelphia Fed Manufacturing Survey report for the March 12,4 against the forecasted -1,7.

    The first support resides at 111.40, the next is at 110.60. The first resistance stands at 112.20, the next one is at 113.00.

    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 and the Kijun-sen show a horizontal movement. The downward movement will be until the price is under the Cloud.

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

    Trading recommendations

    The downward movement will be continued. After the support level of 111.40 breakthrough the pair may go to 110.60.


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