Dollar - Japanese Yen Analysis Analysis

Morning Analysis for CFD Instruments 08/11/2018

Fundamental analysis

08 November, 2018

USD/JPY extended its gains on Thursday testing a session high of 113.722 as markets settled after U.S. midterm election results, which came in as expected, leaving investors free to focus on a Federal Reserve’s policy decision later in the global day. The central bank’s Federal Open Market Committee (FOMC) is expected on Thursday to maintain the hawkish language seen in recent policy statements, while keeping interest rates unchanged this time. The Fed has raised rates three times this year as the U.S. economy boomed and inflation started to pick up, and it has signalled a rate rise in December. While the Fed is on track to raise interest rates the Bank of Japan will press on with ultra loose monetary policy because of low growth and inflation. The widening interest rate differential between U.S. and Japanese bonds has made the dollar a more attractive bet than the yen, which is often a funding currency for carry trades. Later this afternoon US Initial Jobless Claims will be revealed, while tonight (19:00 GMT) US Federal Reserve will announce their latest monetary policy decision.

Technical analysis

Dollar - Japanese Yen Analysis Analysis Technical analysis 08/11/2018
Time Frame: 1 hour

USDJPY Support & Resistance Table - 08/11/2018

Support & Resistance Level Explanation
Resistance 2 114.20 Daily R2
Resistance 1 113.88 Daily R1
Support 1 113.26 Daily S1
Support 2 112.96 Daily S2

USDJPY Indicator Table - 08/11/2018

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

USDJPY Indicator / Period Table - 08/11/2018

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

USDJPY 08/11/2018 - Reference Price : 113.58

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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