USDJPY 2017-12-12 Intra-day analysis.

GBP looks to inflation data for November

Posted on
USDJPY 12.12.17

USDJPY intra-day analysis

USDJPY (113.50): The USDJPY attempted to post further gains but with price action closing with a doji candlestick pattern on the daily chart, we expect the rally to stall in the short term. The downside bias is increasing as a retest of the support level area near 113.06 – 112.90. This remains as the most likely price level that could be tested for support. Further gains can be expected after USDJPY will establish support at this level. In the event that the support level fails, we could expect to see further declines that could push USDJPY lower towards 112.04 support.

(Visited 20 times, 1 visits today)

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.

Follow Me:
Twitter

START TRADING

or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

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.

© Orbex