Forecast for Q2'16 - levels for USD/JPY - page 3
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Forum on trading, automated trading systems and testing trading strategies
Press review
Sergey Golubev, 2016.06.26 09:14
Fundamental Weekly Forecasts for Dollar Index, USD/JPY, GBP/USD and USD/CNH (based on the article)
USD/JPY - "In turn, risk trends may largely influence USD/JPY ahead of the key data prints scheduled for the week ahead, with the longer-term outlook tilted to the downside as price and the Relative Strength Index (RSI) largely preserve the bearish formations carried over from the previous year. However, positive data prints coming out of the U.S. may generate a near-term bounce in the dollar-yen exchange rate should they put pressure on the Fed to further normalize monetary policy sooner rather than later."GBP/USD - "We’re shifting to a bearish forecast on the British Pound for the week ahead as markets wrestle with the prospect of what a post-EU U.K. might actually look like. Uncertainty is expected to reign supreme, and this is something that investors will generally respond to by simply avoiding risk."
USD/JPY D1: breaking breakdown with 98.99 support level to be tested. Daily price is located below 100 SMA/200 SMA reversal on the primary bearish area of the chart: price is on bearish breakdown by 103.54 support level to be broken for 98.99 support to be tested for the bearish breakdown to be continuing.
If D1 price will break 98.99 support level on close bar so the bearish trend will be continuing.
If D1 price will break 107.89 resistance level on close bar from below to above so the local uptrend as the bear market rally within the bearish market condition will be started.
If D1 price will break 111.87 resistance level on close bar so the bullish reversal of the daily price movement will be started with the secondary ranging condition.
If not so the price will be on ranging within the levels.
SUMMARY : bearish breakdown
TREND : bearish