USD/JPY: near strong resistance
December 4, 2013 7:15 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for May 1-2, 2024: buy above $2,290 (21 SMA – 4/8 Murray) May 1, 2024
- Technical Analysis – US 500 index might hit lower levels after Tuesday’s slump May 1, 2024
- Technical Analysis – NZDUSD falls back towards 5-month low May 1, 2024
- Technical Analysis – USDJPY erases losses, but risks remain May 1, 2024
- Video market update for May 01, 2024 May 1, 2024
- What do Q1 earnings hold for Disney’s stock? – Stock Markets May 1, 2024
- Will the post-FOMC jobs report move the dollar? – Preview May 1, 2024
- Forex forecast 05/01/2024: EUR/USD, GBP/USD, USD/JPY, SP500 and Oil from Sebastian Seliga May 1, 2024
- Market Comment – Dollar enjoys a bid; stocks concerned about a hawkish Fed May 1, 2024
- Technical Analysis – Gold seeks safety after Tuesday’s drop May 1, 2024
- Technical Analysis – USDJPY stabilizes a tad below 160.00 May 1, 2024
- Video market update for April 30, 2024 April 30, 2024
- Analysis of the EUR/USD pair on April 30, 2024 April 30, 2024
- Analysis of the GBP/USD pair on April 30th. Last chance for the dollar April 30, 2024
- GBP/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- EUR/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- GBP/USD: trading plan for the US session on April 30th (analysis of morning deals). The pound is kept within the side channel April 30, 2024
- Could Monday’s intervention turn the tide for the yen? – Special Report April 30, 2024
- EUR/USD: trading plan for the US session on April 30th (analysis of morning deals). The euro is trying to end the month on April 30, 2024
- Trading Signals for Bitcoin (BTC/USD) for April 30 – May 7, 2024: sell below $62,500 (21 SMA – 4/8 Murray) April 30, 2024
The pair rallied towards north from 97 to 103.40. The Bank of Japan helped to push yen 6 month’s low. Better than expected US economic data increased expectations of a near term tampering of the Fed’s purchasing program.
The Japanese PM proceed with his April sales tax raise form 5% to 8% and a $51 billion stimulus plan. The BoJ would continue buying enough assets to pump up the monetary base at a rate of about $596-695 billion.
The Japanese stock market Nikkei push to a 6 month high going north very strongly, we expect Nikkei would climb 17k, 17,500 levels. Japan is going to invest $2tn of pension funds in stocks and other riskier assets. Japan’s central bank maintained its target for asset purchases, as widely expected. We expect some liquidity landed in India and America probably next year. This is the time Western Gold Community will focus on Japan’s liquidity to buy gold which is currently trading at uneconomic levels.
The pair halted at a major resistance level May’s high 103.73. On the down side strong support exists at 101.5
Our long term target is 125.
Recommendation-
Buy above 102.7 the pair will jump to 103 103.5 103.7. Downside support at 102.2 102 101.5
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: