USD JPY went under 113.00 today ending a 6 month top streak

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 currency pair now!

Here I will share what I believe that the USD JPY movement on the trading chart today. I will explain in details why this is going to happen.

USD JPY, forex forecast

USD/JPY Trading guidelines

  • USD will continue to remain solid even after the disappointing US Fed Powell’s speech.
  • The US bond yields are showing significant profit increase.
  • Positive influence is coming in from the JPY data which has managed to limit its losses. 

 According to FxEmpire.com today the USD/JPY shared currency pair has managed to fall under the 113 value and this is rare sight because the trading cross has not seen this low value in over 6 month, thus ending one big streak and analysts are showing that the USD JPY has also managed to limit most of its losses right under the 113.00 value.

Traders now feel confident that the USD supported provided by the Fed Chair Jerome Powell’s has ended due to somewhat less rewarding economic predictions for the US economy, but if it were to look at the bright side of this situation the trading process will continue to stay as supportive as possible and its momentum will be virtually unaffected.

The biggest value so far is the 113.14 level but there is a gap of positive data release in order to sustain this point and surprisingly a lot of influence is coming in from the USA treasury data release, but the European Union market has also managed to weigh heavily on the JPY markets today offering little help to the overall trading process. Right now everyone is keeping a close eye on the House Financial Services data release.

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 level = 113.15

Lowest level = 112.61

Our Trading Predictions

VOLATILITY = LOW

We advise you to:

  • Sell 30%
  • Buy 70%

S3 = 112.70 S2= 111.23 S1 = 111.14

R1 = 113.25 R2 = 113.10 R3 = 113.85

 

USD/JPY significant trading levels

Right now the USD JPY trading cross is going downwards by a negative value of -0.11% and it is currently trading in the close vicinity of the 112.75 level and there are solid clues that in the near future the value will be close to the 114.00 point.

On the other side of the table there are several strong levels beginning with the 112.45 and followed close up by the 112.25 level.

We value your opinion very much let us know how you feel about our predictions?

 

Tags: