Dollar - Japanese Yen Analysis Analysis

Evening Analysis for CFD Instruments 06/12/2018

Fundamental analysis

06 December, 2018

USD/JPY was trading 0.32% down on Thursday to test a session low of 112.593. The yen rose on Thursday after the arrest in Canada of a top executive of Chinese tech giant Huawei prompted fears of a flare-up in U.S.-China trade tensions. The arrest of Huawei Technologies Co Ltd’s chief financial officer increased safe-haven demand for the currency as doubts emerged over a truce on trade struck days ago between Presidents Donald Trump and Xi Jinping. In addition, the US dollar, however, remained under pressure by worrisome signs in U.S. bond markets about economic growth and signals from the Federal Reserve that a slowdown in the pace of interest rate hikes may be coming. In Japan, Bank of Japan Governor Haruhiko Kuroda on Thursday dismissed the chance of a near-term interest rate hike, saying that restocking the central bank’s policy ammunition now could delay the achievement of its inflation target. Later this afternoon, the US dollar should be expected to come under volatile pressure due to several economic data releases. In fact, this afternoon, ADP Nonfarm Employment Change for November, Initial Jobless Claims, Trade Balance and ISM Non- Manufacturing PMI will be released in the US.

Technical analysis

Dollar - Japanese Yen Analysis Analysis Technical analysis 06/12/2018
Time Frame: 1 hour

USDJPY Support & Resistance Table - 06/12/2018

Support & Resistance Level Explanation
Resistance 2 113.25 Daily R2
Resistance 1 113.05 Daily R1
Support 1 112.55 Daily S1
Support 2 112.30 Daily S2

USDJPY Indicator Table - 06/12/2018

Indicator Signal
SMA 20 Sell
SMA 50 Sell
SMA 100 Sell
MACD( 12;26;9) Sell
RSI (14) Neutral
Stochastic ( 9;6;3) Buy

USDJPY Indicator / Period Table - 06/12/2018

Indicator / Period Day - SellWeek - BuyMonth - Buy
MACD( 12;26;9) Sell BuySell
RSI (14) Neutral NeutralNeutral
SMA 20 Sell BuyBuy

USDJPY 06/12/2018 - Reference Price : 112.77

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (1)Sell (1)
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