Are you in need of a solid currency pair that is growing slowly across the trading chart? Guess what now you can make some great Pips on the USD JPY now!
Here I will share what I see as the cause of the USD JPY movement on the trading chart today. I will explain in detail why this is going to happen.
- A modest USD uptick fails to provide any bullish impetus.
- JPY weighed down by risk-on mood and helps limit downside.
- Investors seem to await the release of US GDP print.
Flat trading for the moment
According to FxEmpire.com today the USD/JPY currency pair is trading flat around the 111.00 level and it is not showing any signs of moving upwards but there are several hints that it is close to losing this value in the near future. I personally believe that it will grow up towards the 111.50 until the Asian session ends.
USD/JPY currency pair cannot hold the 111.00 level for long
I anticipate that the lack of data releases for the USD/JPY currency pair will drag the values lower but towards the end of the trading session a solid directional bias will appear and the 111.50 value will become a resting point.
So far in the Asian trading session the trading cross stood silent around the 111.00 level. This became real mostly because of the weak US data releases. There are also several negative factors, most of which can be found shadowing the trade negotiations between the US and China trade deal.
How the US Treasury bond yields have affected the USD/JPY pair
I think that the release of the US Treasury bond yields have managed to add further negative influence to the overall trading process.
The Asian trading sessions have marked the USD/JPY currency pair with low inflation level which will eventually disappear when the risk sentiment grows.
I believe that in the near future all market participants will refrain from placing any aggressive actions before viewing any new data releases which have been predicted to be releases in the NY trading session.
Let us know how do you feel about the strong data released earlier today in the US? Will the USD/JPY continue to gain ground?
Highest and lowest levels of USD/JPY right now
Highest level = 111.77
Lowest level = 111.30
Our Trading Predictions
Volatility = High
Today’s Forex Forecast – We advise you to:
- Sell 34%
- Buy 66%
S3 = 112.70 S2= 112.23 S1 = 111.14
R1 = 111.25 R2 = 111.10 R3 = 111.85
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USD/JPY significant trading levels
For the time being the USD/JPY currency pair is going downwards by a negative value of -0.27% and it is trading in the close vicinity of the 111.35 and by breaching the 113.18 value this will clear the trading path towards the 111.49 level.
On the other side of the table there are several solid levels beginning with the 109.77 continuing with the 107.89 value and lastly ending with the 104.57 solid level.
We value your opinion very much let us know how you feel about our predictions?