Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

USD/JPY Outlook: November, 29 2013

Published 11/29/2013, 05:34 AM
Updated 02/21/2017, 08:25 AM

USD/JPY
The pair remains steady and posted fresh high at 102.61, with subsequent pullback on. overbought near-term conditions, under way. Initial support lies at 102.00 and is reinforced by hourly 55DMA / Fibonacci 38.2% of 101.13/102.61 upleg, with further easing below the latter, expected to put immediate bulls on hold, for stronger correction.

The notion is supported by overbought daily studies, with break below 102 handle, expected to open next strong support at 101 zone, higher low of 26/11 / 4-hour 55DMA, loss of which to confirm near-term top and neutralize bulls. Conversely, fresh extension through 102.61 and psychological 103.00 barrier, opens key resistance at 103.72, 22/05 annual high.

  • Res: 102.33; 102.61; 103.00; 103.50
  • Sup: 102.10; 101.70; 101.50; 101.13

<span class=USD/JPY" title="USD/JPY" height="400" width="800">

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.