Antony_NPBFX
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USD/JPY: the pair is showing mixed dynamics 02.04.2018
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on the USD/JPY for a better understanding of the current market situation and more efficient trading.
Current trend
Today, USD shows a slight increase against JPY, offsetting the decline of the end of last week. Market activity due to the Easter holidays remains quite low, but traders are gradually returning to the market. Today, investors focus on a block of macroeconomic statistics from Japan.
According to the Bank of Japan Tankan report, the manufacturing PMI for large enterprises of all industries in Q1 2018 grew by 2.3% after growth of 6.4% in the previous quarter. Analysts expected a much weaker growth: +0.6%. In turn, the PMI forecast for large manufacturers fell from 21 to 20 points and the Non-Manufacturing Index fell from 25 to 23 points (with the forecast of 24 points).
Support and resistance
Bollinger Bands in D1 chart demonstrate flat dynamics. The price range has consolidated, but remains quite spacious for the current level of activity on the instrument.
MACD indicator is growing preserving a buy signal (the histogram is above the signal line).
Stochastic, in turn, having reached the mark of "80", is trying to turn into a downward correction, reacting to the emergence of "bearish" sentiments at the end of the last trading week.
The technical indicators remain contradictory; therefore it is better to wait until the situation becomes clearer.
Resistance levels: 106.44, 106.71, 106.99, 107.27.
Support levels: 106.10, 105.88, 105.58, 105.23.
Trading tips
To open long positions one can rely on the breakout of the level of 106.44, while maintaining "bullish" signals from technical indicators. Take-profit – 107.00–107.27. Stop-loss — 106.10–106.00. Implementation period: 2-3 days.
Return of the “bearish” trend to the market with a breakdown of 106.10–106.00 mark may be a signal for sales with targets at 105.58 or 105.23–105.00. Stop-loss – 106.50. Implementation period: 2-3 days.
Use more opportunities of the NPBFX analytical portal: trading signals
Make right trade decisions on sell or buy USD/JPY and other popular instruments using trading signals on the NPBFX portal. All registered users have free access to signals from the top 10 trading indicators (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) with also general recommendations on the portal.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on USD/JPY and trade efficiently with NPBFX.
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on the USD/JPY for a better understanding of the current market situation and more efficient trading.
Current trend
Today, USD shows a slight increase against JPY, offsetting the decline of the end of last week. Market activity due to the Easter holidays remains quite low, but traders are gradually returning to the market. Today, investors focus on a block of macroeconomic statistics from Japan.
According to the Bank of Japan Tankan report, the manufacturing PMI for large enterprises of all industries in Q1 2018 grew by 2.3% after growth of 6.4% in the previous quarter. Analysts expected a much weaker growth: +0.6%. In turn, the PMI forecast for large manufacturers fell from 21 to 20 points and the Non-Manufacturing Index fell from 25 to 23 points (with the forecast of 24 points).
Support and resistance
Bollinger Bands in D1 chart demonstrate flat dynamics. The price range has consolidated, but remains quite spacious for the current level of activity on the instrument.
MACD indicator is growing preserving a buy signal (the histogram is above the signal line).
Stochastic, in turn, having reached the mark of "80", is trying to turn into a downward correction, reacting to the emergence of "bearish" sentiments at the end of the last trading week.
The technical indicators remain contradictory; therefore it is better to wait until the situation becomes clearer.
Resistance levels: 106.44, 106.71, 106.99, 107.27.
Support levels: 106.10, 105.88, 105.58, 105.23.
Trading tips
To open long positions one can rely on the breakout of the level of 106.44, while maintaining "bullish" signals from technical indicators. Take-profit – 107.00–107.27. Stop-loss — 106.10–106.00. Implementation period: 2-3 days.
Return of the “bearish” trend to the market with a breakdown of 106.10–106.00 mark may be a signal for sales with targets at 105.58 or 105.23–105.00. Stop-loss – 106.50. Implementation period: 2-3 days.
Use more opportunities of the NPBFX analytical portal: trading signals
Make right trade decisions on sell or buy USD/JPY and other popular instruments using trading signals on the NPBFX portal. All registered users have free access to signals from the top 10 trading indicators (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) with also general recommendations on the portal.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on USD/JPY and trade efficiently with NPBFX.