Antony_NPBFX
NPBFX Representative (unconfirmed)
- Messages
- 1,091
USD/JPY: USD is strengthening 27.11.2019
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on USD/JPY for a better understanding of the current market situation and more efficient trading.
Current trend
USD is strengthening against JPY during today’s Asian session, adding about 0.08%. USD is supported by optimistic news regarding the process of trade negotiations between the US and China, which contribute to increased demand for risky assets. The day before, the Ministry of Commerce of China reiterated that telephone calls between the parties “have made progress in resolving a number of issues”. However, as before, no specific information was received, and the market can only guess when exactly Washington and Beijing plan to sign a preliminary trade agreement.
With the opening of the American session, investors expect the publication of macroeconomic statistics from the United States. Among other things, the market expects the release of data on the dynamics of Personal Consumption, Pending Home Sales, annual data on GDP for Q3 2019 and statistics on Personal Expense and Income for October.
Support and resistance
Bollinger Bands in the D1 chart demonstrate flat dynamics. The price range is slightly narrowing, failing to keep up with the development of the “bullish” trend in the short term. MACD indicator is growing preserving a moderate buy signal (located above the signal line). Stochastic retains an uptrend but is located in close proximity to its highs, which indicates the instrument’s overbought in the ultra-short term.
One should keep existing long positions in the short and/or ultra-short term.
Resistance levels: 109.28, 109.47, 109.73, 110.00.
Support levels: 109.06, 108.85, 108.71, 108.46.
Trading tips
To open long positions, one can rely on the breakout of 109.28. Take profit – 109.73 or 110.00. Stop loss – 109.06 or 108.85.
A rebound from 109.28 as from resistance, followed by a breakdown of 109.06 or 109.00 may become a signal to new sales with the target at 108.46. Stop loss – 109.30 or 109.40.
Implementation time: 2-3 days.
Use more opportunities of the NPBFX analytical portal: economic indicators
Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.).
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on USD/JPY and trade efficiently with NPBFX.
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on USD/JPY for a better understanding of the current market situation and more efficient trading.
Current trend
USD is strengthening against JPY during today’s Asian session, adding about 0.08%. USD is supported by optimistic news regarding the process of trade negotiations between the US and China, which contribute to increased demand for risky assets. The day before, the Ministry of Commerce of China reiterated that telephone calls between the parties “have made progress in resolving a number of issues”. However, as before, no specific information was received, and the market can only guess when exactly Washington and Beijing plan to sign a preliminary trade agreement.
With the opening of the American session, investors expect the publication of macroeconomic statistics from the United States. Among other things, the market expects the release of data on the dynamics of Personal Consumption, Pending Home Sales, annual data on GDP for Q3 2019 and statistics on Personal Expense and Income for October.
Support and resistance
Bollinger Bands in the D1 chart demonstrate flat dynamics. The price range is slightly narrowing, failing to keep up with the development of the “bullish” trend in the short term. MACD indicator is growing preserving a moderate buy signal (located above the signal line). Stochastic retains an uptrend but is located in close proximity to its highs, which indicates the instrument’s overbought in the ultra-short term.
One should keep existing long positions in the short and/or ultra-short term.
Resistance levels: 109.28, 109.47, 109.73, 110.00.
Support levels: 109.06, 108.85, 108.71, 108.46.
Trading tips
To open long positions, one can rely on the breakout of 109.28. Take profit – 109.73 or 110.00. Stop loss – 109.06 or 108.85.
A rebound from 109.28 as from resistance, followed by a breakdown of 109.06 or 109.00 may become a signal to new sales with the target at 108.46. Stop loss – 109.30 or 109.40.
Implementation time: 2-3 days.
Use more opportunities of the NPBFX analytical portal: economic indicators
Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.).
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on USD/JPY and trade efficiently with NPBFX.