Finally after the Fed hiked its rates, USD is acting stronger against JPY. The support rests at 117.940 with resistance at 118.400 which both lines are above the weekly pivot point at 114.640. The EMA of 10 is moving with bullish bias and it is located above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is showing downward momentum and the MACD indicator is in positive territory. The ADX is showing a weak buy signal. Long positions are recommended targeting 119 area.
USDJPY analysis for 16.12.2016
Comments are closed.