USDJPY 2017-12-13 Intra-day analysis.

Traders look to FOMC meeting. Fed set to hike rates

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USDJPY 13.12.17

USDJPY intra-day analysis

USDJPY (113.29): The USDJPY formed another doji pattern on the daily chart yesterday. A bearish close below the doji’s low today could potentially signal further downside in price. USDJPY is seen trading just below the previously established resistance level of 114.31 – 114.07 region. To the downside, price is pending retest of the support level near 110.70. On the 4-hour chart, the immediate support near 113.06 – 112.90 remains in focus. A break down below this support could potentially turn USDJPY’s bias to the downside as price will then likely slide towards the 112.05 level of support. To the upside, the gains could be limited towards the previously established resistance level.

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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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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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