Fundamental Analysis of USD/JPY for July 18, 2017
July 18, 2017 4:23 amVideo
Latest News
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
USD/JPY is currently in a bearish impulsive momentum after getting bounced off from the 114.40 resistance level recently. USD has been losing its grounds due to bad economic reports published recently and it seems to continue further if USD do not provide any positive economic reports in the coming days. Despite Japan observing holiday for Marine Day yesterday, JPY has gained well against USD which does signal the weakness of USD and strength of JPY in the current market scenario. we have USD Import Price report to be published which is expected to show less deficit at -0.2% from the previous value of -0.3% and NAHB Market Index is expected to be unchanged at 67. Though the economic reports are not quite a high impact in nature but can help USD to climb over some pips in the process. Today JPY do not have any economic reports to be published but still dominating the USD on its way and it is expected to continue further this week.
Now let us look at the technical view, the price is currently residing below the dynamic level 20 EMA with a daily close below it which signals further bearish pressure in the market for the coming days. The price is currently residing inside a large corrective structure between 110 to 115 and until price breaks below or above this structural support or resistance, the market is expected to corrective in nature. Currently, the price is expected to reach 110.20 support level if the price remains below the 20 EMA with a daily close. The bearish bias will continue further until price breaks above the 20 EMA with a daily close.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: