Technical Analysis

USDJPY trades at a new NY session high

Still down on the day but making progress

The USDJPY has extended to a new NY session high at 109.42.  In the process, the pair has moved above and away from the 200 bar MA on the 5-minute chart at 109.235, and above the 50% retracement at 109.209 (the market has based against that midpoint over the last few hours of trading.  .  

The close for the year came in around the 109.60 area.  We are currently about 18 or so pips from that level.  A move above would give the buyers even more confidence.

The Nasdaq is up about 18 points. The S&P is trading above and below the unchanged line currently. The Dow is down -19 points but is up around 140 points from the low. 


Articles You May Like

Weekly Forex Review – 14th to the 18th of January
Euro Forecast: Fundamentals Continue to Erode – December CPI on Thursday
Tutorial: how to do Morning analysis in the forex market ( 3/31/16 )
Weakness in Chinese trade data has commodities on edge – TD Securities
EURUSD cracks lower. Buyers give up

Leave a Reply

Your email address will not be published. Required fields are marked *