Dollar - Japanese Yen Analysis Analysis

Morning Analysis for CFD Instruments 09/11/2018

Fundamental analysis

09 November, 2018

USD/JPY rose to its highest rate in more than a month (114.073) as the U.S. Federal Reserve kept interest rates steady at 2.25% but reaffirmed its monetary tightening stance, setting the stage for a rate hike in December. The Fed has raised its key policy rate three times this year, and the market expects another rate hike in December on the back of a robust U.S. economy, rising inflation and solid jobs growth. The dollar has gained 2.24% versus the yen over the last 10 trading sessions due to the diverging monetary policies of the Fed and the Bank of Japan. While the Fed is on track to raise interest rates, the BOJ is expected to keep its ultra loose monetary policy due to 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, investors could be expected to turn focus to PPI data for October in the US (13:30 GMT).

Technical analysis

Dollar - Japanese Yen Analysis Analysis Technical analysis 09/11/2018
Time Frame: 1 hour

USDJPY Support & Resistance Table - 09/11/2018

Support & Resistance Level Explanation
Resistance 2 114.44 Daily R2
Resistance 1 114.18 Daily R1
Support 1 113.72 Daily S1
Support 2 113.46 Daily S2

USDJPY Indicator Table - 09/11/2018

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

USDJPY Indicator / Period Table - 09/11/2018

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

USDJPY 09/11/2018 - Reference Price : 113.90

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