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 exchange rate and begin your journey as a successful trader!
Here I will share what I believe about the USD/JPY movement on the trading chart today. I will explain in details why this is going to happen and how can it be in your advantage.
|Factors that might affect this pair today
According to Fxempire.com today the USD/JPY currency pair is trading on a high note in the close vicinity of the 108.80 level and it is already showing significant signs of moving close to 109.00 and this comes as a reaction to the release of the 10-year yields in the US.[maxbutton id=”2″ ]
USD/JPY exchange rate is reacting promptly to yields data
I have recently noticed that the USD/JPY currency pair has managed to keep the trading bias intact and it has already managed to retake the 109.00 level with great ease and it is already showing strong signs of moving upwards above this point until the trading week comes to an end.
However I have also noticed that there are plenty of news headlines underlining the fact that the United States and China negotiations are going to spark a risky trading sentiment. In response to this the Japanese single currency is now behind a solid wall which offers plenty defense for any kind of future predicaments.
Across the ocean in the United States the release of the NFIB index has posted a huge positive value of 104.4 for the previous month therefore surpassing all existing predictions.
Why I think USD/JPY is one of the best currencies to trade right now
Across the ocean in the United States the release of the US DXY index data has manage to show that there is a lot of pressure hovering over the USD trading process. To certain extent there is some positive data coming in from December’s Payrolls data as well as the conference of J.Powell with the AEA the American Economic Association.
Today I advise you to use the BUY action as much as possible!
Let us know how you feel about the fact that the EU German data has managed to influence the whole trading process in the European Union? Will the currency pair jump over the 1.1600 level? Let us know how you feel about this? Even if you are a novice trader we would still like to know your opinion!
|Forex and Profits presents Today’s Free Forex Signal
A summary of Highs and Lows for the USD/JPY
Highest level = 118.10
Lowest level = 117.20
Volatility level = High
Today’s Forex predictions
Here is my USD/JPY forecast for tomorrow
Buy 80 %
Sell 20 %
S3 = 100.10 S2= 102.61 S1 = 105.93
R1 = 109.20 R2 = 111.34 R3 = 112.90
USD/JPY significant trading levels
For the time being the USD/JPY exchange rate is going upwards by a positive value of +0.7% and it is trading in the vicinity of the 118.90 and it is relying heavily on the 114.50 value followed close up by the 114.10 and lastly ending with the 113.80 point.[maxbutton id=”1″ ]
On the other side of the medal there are several solid resistance points staring with 116.90 followed close up by 114.45 and lastly ending with 114.75.
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