USDJPY 2017-12-14 Intra-day analysis.

USD slips as Fed hikes rates

Dec 14 2017, 10:22 am
USDJPY 14.12.17

USDJPY intra-day analysis

USDJPY (112.62): The USDJPY posted strong declines yesterday as the U.S. dollar fell to a four day low. On the 4-hour chart, price closed below the support level of 113.00 – 112.90. Any short term retracement will see price retesting this level to establish support. To the downside, USDJPY could be seen pushing lower to test the next support formed at 112.04. Alternately, in the event that USDJPY manages to break past the 113.00 level, we can expect to see the bullish momentum resuming. However, it is unlikely as USDJPY could be seen maintaining a sideways range within 113.00 and 112.04.

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John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.

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