Luis ForexMart
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Technical Analysis USD/JPY: September 28 2016
The announcement made by Haruhiko Kuroda caused the Japanese yen to make a firm trend. Kuroda talked about the availability of the tool in order to gain the additional 2% inflation rate while the central bank ascertained that they approved the implementation of the stimulus increase if necessary.
The ascending movement run down in a moment reaching the 101.00 by which brought a price change. The pair had declined that also affected to lose its previous gains. The dollar and yen made another attempt to suspend the 100.40 level. As shown in the 4 hour chart, USD/JPY is under the selling pressure of the 50-EMA, at the same time, moving averages are in a lower position of the same chart. Resistance can be seen over the 101.40, support is identified in the 100.40 level.
MACD strengthened the sellers strength though it sustained its previous status. RSI is consolidated in the negative area.
The announcement made by Haruhiko Kuroda caused the Japanese yen to make a firm trend. Kuroda talked about the availability of the tool in order to gain the additional 2% inflation rate while the central bank ascertained that they approved the implementation of the stimulus increase if necessary.
The ascending movement run down in a moment reaching the 101.00 by which brought a price change. The pair had declined that also affected to lose its previous gains. The dollar and yen made another attempt to suspend the 100.40 level. As shown in the 4 hour chart, USD/JPY is under the selling pressure of the 50-EMA, at the same time, moving averages are in a lower position of the same chart. Resistance can be seen over the 101.40, support is identified in the 100.40 level.
MACD strengthened the sellers strength though it sustained its previous status. RSI is consolidated in the negative area.