Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Daily Technical Outlook
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="katetrades, post: 144960, member: 21862"] [B]USDJPY Triangle Support (Mar 22, 2018)[/B] USDJPY is still inside its triangle consolidation pattern and is testing support at the 105.60 level. A bounce from this area could lead to another test of resistance at 106.30 or a break higher. However, the 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. This suggests that support is likely to break or that resistance would probably hold. The 100 SMA dynamic resistance is also around the top of the triangle. Stochastic is heading south, also indicating that bearish pressure is present, but the oscillator is nearing oversold conditions and might be ready to turn higher to draw buyers back in. The Fed hiked interest rates by 0.25% as expected in their latest policy statement but dollar bulls seemed disappointed over the lack of changes in the dot plot. Although GDP forecasts for this year and the next were upgraded and a couple of CPI estimates also revised higher, policymakers are still projecting three hikes this year versus expectations of four. Economic data from Japan has been weaker than expected today, though. The flash manufacturing PMI fell from 54.1 to 53.2 instead of improving to the estimated 54.3 figure. [IMG]https://www.tradersway.com/var/tw/storage/images/media/images/510_2018_03_22_usdjpy/1969667-1-eng-US/510_2018_03_22_usdjpy.jpg[/IMG] Only medium-tier reports are due from the US next, namely the flash manufacturing and services PMIs. Not much change from the earlier reading is eyed, and disappointing reports could cast further doubts on Fed tightening plans. [I]By Kate Curtis from Trader's Way[/I] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…