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USDJPY Forecast and Technical Analysis 02-26-2018

Midterm Forecast and Overview

USDJPY Forecast and Technical Analysis 02-26-2018

Fundamentals:
  • US Treasury Yields edged lower and it will remain the determining factor on USDJPY.
  • Japanese Yen stands as Safe Haven.
Technicals:

USD/JPY closed the week at 106.850 with 100 pips weekly loss.

Daily Chart: The pair is far below all major Moving Averages. RSI value is 36 and the whole picture is strongly Bearish.

4 Hours Chart: RSI is heading North and slightly moving to the neutral zone. EMA 50 and SMA 20 are placed at the same level of 107.200.  EMA 100 maintains a strong downward slope and will act as a strong resistance if the pair breaks above 107.200.

As seen in the H4 Channel chart, if the price breaks above 107.200,  the pair will gain an upward momentum. And USDJPY may jump into the ascending channel. However, it is likely to be limited by the stronger resistance.

The trading strategy of today can be set as follows:

Levels to sell: 107.800 and 108.200

Levels to buy: Close above 107.200

We will publish our trend following strategy for midterm traders in the premium pages.

 

 

USDJPY Forecast And Technical Analysis:  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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