Due to the UK referendum Bank of Japan is trying to control the forthcoming impacts. Japan is not releasing any economic reports while the US is releasing Richmond Manufacturing Index, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, Final GDP Price Index q/q, and Final GDP q/q. After the referendum the USDJPY has been moving in choppy pattern leaving bearish and bullish candles behind. The support lies at 101.270 with resistance at 102.570 which both lines are below the monthly pivot point at 109.230. The EMA of 10 is moving with bearish bias along with the descendant channel under the EMA of 75. The RSI is moving in neutral zone, them MACD indicator is in negative territory showing the price decline while the Stochastic is showing upward momentum. There is no clear signal for this pair at the moment therefore traders can wait for a better chart setup. The pair will be moving within the 100-102 area.
USDJPY analysis for 28.06.2016
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