Dollar - Japanese Yen Analysis Analysis

EU Session Analysis for CFD Instruments 11/01/2019

Fundamental analysis

11 January, 2019

USD/JPY was trading stable to slightly lower this morning and still above 108.00. The dollar fell versus its major peers on Friday, as investors grew increasingly confident that the U.S. Federal Reserve may hit the pause button on monetary tightening this year. Fed Chairman Jerome Powell reiterated on Thursday the U.S. central bank has the ability to be patient on monetary policy given that inflation remains stable. Markets are now pricing in no further rate hikes by the Fed this year. Fed Vice Chair Richard Clarida also struck a dovish tone, underscoring the central bank’s willingness to remain patient on the issue of raising rates. In Japan, data overnight showed that this country ogged a current account surplus for the 53rd consecutive month in November. According to the Finance Ministry, in the recording month, the current account surplus stood at 757.2 billion yen (7 billion U.S. dollars). Japan's goods trade deficit stood at 559.1 billion yen (5.16 billion U.S. dollars) and services trade surplus at 12.1 billion yen (111.73 million U.S. dollars) in the reporting period, the ministry's preliminary data showed, of the account's key components. Later this afternoon (13:30 GMT), US Inflation data for December will be in the focus of many market participants.

Technical analysis

Dollar - Japanese Yen Analysis Analysis Technical analysis 11/01/2019
Time Frame: 1 hour

USDJPY Support & Resistance Table - 11/01/2019

Support & Resistance Level Explanation
Resistance 2 108.79 Daily R2
Resistance 1 108.59 Daily R1
Support 1 108.09 Daily S1
Support 2 107.89 Daily S2

USDJPY Indicator Table - 11/01/2019

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

USDJPY Indicator / Period Table - 11/01/2019

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

USDJPY 11/01/2019 - Reference Price : 108.36

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