Are you searching for a strong currency which is racing upwards on the trading chart? Guess what? Now you can make some great Pips on the USD/JPY and begin your journey as a successful trader!
I will share what I believe to be the USD/JPY movement on the trading chart today. I will explain in detail why this is going to happen.
- USD/JPY currency pair has managed to lose the 110.90 value due weak data from the Bank of Japan, but this has turned to be a very smart measure for the overall trading process.
- The USD is trading in a negative trajectory.
USD/JPY is close to 111.40
According to FxEmpire.com today the USD/JPY currency pair is trading close to 111.40 and has recently lost the 111.90 level due to weak data coming in from the Bank of Japan in the quarterly evaluation, however this is also a very smart move from the Japanese against the USD.
USD/JPY is trading over the 111.30 level
I believe that the main trading level for today is going to be 111.50 and there are going to be some variations upwards by ultimately this is going to be the main trading zone. This is a good evolution for the USD/JPY currency pair because it has recently managed to jump over the low level of 110.90.
At the center of this movement stands the Bank of Japan (BOJ) which has announced that it is going to buy fewer bonds. Nonetheless, I feel confident that the Japanese investors know what they are doing because this measure will surely ease off some pressure. It will also lower inflation values, thus balancing perfectly the purchase value.
I consider that the USD/JPY will manage to keep the trading cross above the 111.40 level with a small effort.
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?
A summary of Highs and Lows for the USD/JPY
Highest level = 111.77
Lowest level = 111.30
Volatility = Shrinking
Today’s Forex forecast – We advise you to:
- Sell 62%
- Buy 38%
S3 = 111.70 S2= 111.23 S1 = 111.14
R1 = 110.25 R2 = 110.10 R3 = 110.85
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USD/JPY currency pair significant trading levels
For the time being the USD/JPY currency pair is now going upwards by a positive value of +0,32% and it is trading close to the 111.42 and I believe that it is going to rely heavily on the 111.83 level at first followed close up by the 112.15 level.
On the other side of the table there are several solid levels starting with the 110.68 point continuing with the 110.59 level and lastly ending with the 110.40 point.
We value your opinion very much let us know how you feel about our predictions?