Could USD/JPY Hold Above 111.00 ?
March 22, 2017 10:56 amVideo
Latest News
- What’s next for markets amid Israel-Iran tensions? – Special Report April 16, 2024
- Technical Analysis – GBPUSD pulls back into the negative zone April 16, 2024
- Geopolitical developments and stronger US data push volatility to new highs across the board – Volatility Watch April 16, 2024
- Technical Analysis – AUDUSD breaks the lower bound of a sideways range April 16, 2024
- Video market update for April 16, 2024 April 16, 2024
- Hot forecast for EUR/USD on April 16, 2024 April 16, 2024
- Technical Analysis – EURUSD dives further near 1.0600 April 16, 2024
- XM 2024 Ramadan Promotion Winners April 16, 2024
- EUR/USD and GBP/USD: Technical analysis on April 16 April 16, 2024
- Key events on April 16: fundamental analysis for beginners April 16, 2024
- Overview of the GBP/USD pair. April 16th. The pound may rebound, but the flat is over, and there are no reasons for growth April 16, 2024
- Trading plan for GBP/USD on April 16. Simple tips for beginners April 16, 2024
- Trading plan for EUR/USD on April 16. Simple tips for beginners April 16, 2024
- Overview of the EUR/USD pair. April 16th. In plain text: The ECB will cut rates in June April 16, 2024
- Forecast for EUR/USD on April 16, 2024 April 16, 2024
- Forecast for GBP/USD on April 16, 2024 April 16, 2024
- Forecast for AUD/USD on April 16, 2024 April 16, 2024
- Outlook for GBP/USD on April 16. Pound awaits inflation data April 16, 2024
- Outlook for EUR/USD on April 16. Another boring Monday April 16, 2024
- The euro hardly has a chance to rise April 16, 2024
USD/JPY hit the lowest level of 111.13 since November 23 this morning, breaking the short term major support line at 111.50. USD/JPY has turned bearish since March 15, saw its longest bearish streak since January. In the past week, USD/JPY has retraced about 3.14%. The plunge was caused by the weakening of the dollar post Fed rate rise profit-taking pressure. On the daily chart, the 10 SMA has crossed over the 20 SMA, indicating the trend has turned bearish. The bears are currently edging lower to test the next significant short-term major support line at 111.00, where the support is stronger. The daily Stochastic Oscillator is below 10, suggesting a rebound. If the price can be held above the level at 111.00, we will likely see a rebound. However, if the support line is broken, we will likely see a further sell-off. The resistance level is at 111.50, followed by 112.00 and 112.50. The support line is at 111.00, followed by 110.50 and 110.00. The Fed Chair Yellen will make a speech at Community Development Research, at 12:00 GMT, on Thursday March 23. Her hawkish / dovish tone will likely affect the strength of the dollar and the dollar crosses. 0322 – Market Snapshot
Source: FX Pro Market Snapshot
Related Posts: