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 in the close vicinity of the high level of 113.50 and this is a positive stance because it has managed to leave behind all negative levels and prepared to jump towards new points.
USD/JPY exchange rate reacts to a stronger Yen
I believe that for the entire trading week the USD/JPY exchange rate will continue to stay in the high point of 113.50 and a steady movement will be present towards the end of the week.
I have also noticed that the Japanese Yen has all the punch it needs in order to deliver a strong punch to the Asian trading session.
At the same time I believe that on Friday the currency pair will have a short break under a small breath of fresh air.
This will clearly be used by most investors as a magnificent opportunity to invest in the strong Yen.
Why I think USD/JPY is one of the best currencies to trade right now
I have recently concluded that the USD/JPY exchange rate has manage to wobble up and down back and forth between the 112.00 and 114.00 level and the market could not act on this.
On top of this the 50-day moving SMA is still offering significant influence to overall trading process.
The USD/JPY currency pair will continue to will continue to trade under the 114.00 level maybe even until the end of the trading year.
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 = 113.56
Lowest level = 113.20
Volatility level = High
Today’s Forex predictions
Here is my USD/JPY forecast for tomorrow
Buy 80 %
Sell 20 %
S3 = 112.10 S2= 113.61 S1 = 1.13.93
R1 = 114.20 R2 = 114.34 R3 = 115.20
USD/JPY significant trading levels
For the time being the USD/JPY currency pair is going downwards by a small negative value of -0.1% and it is currently trading in the proximity of the 113.44 level and it is going to rely heavily on the 113.60 level but if this level is lost then I believe that the 113.20 will quickly become a trading reality.
On the other side of the medal the currency pair is relying heavily on the 114.10 level at first and then it will be followed close up by the 114.60 point.
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