Shangai Composite Index opened in a negative note and had a negative influence on JPY. There are no macroeconomic figures scheduled in Japan for the upcoming Asian session, but the conflict in Syria and the missile attack from occidental allies will likely result in some demand for the safe-haven yen at the weekly opening.

It looks like USDJPY could be bottoming out we need to see Daily Closings above 107.900 to talk about a midterm trend reversal.

On the H4 Chart, the pair is trading above EMA 50 and 100. However, 107.900 remains as a strong resistance. Midterm bearish pressure will continue as long as the price holds below 107.900.

Intrada Day Levels:

Price is testing the median line of BB Bands. If the price moves into lower Bollinger Bands, it is likely to test 106.650. Daily ATR is showing us that the trading range is 75 pips.

Contunie Reading

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Source: http://chartreaderpro.com/usdjpy-technical-analysis-wait-buying/

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