USD JPY Technical Analysis
Technical Analysis Overview:
Prev. Close 106.68
Day’s Range 106.74 – 107.59
52 wk Range 99.08 – 123.69
1-Year Return – 12.54%
Technical Support and Resistance:
Daily Camarilla Technical analysis shows USD/JPY pair may find the immediate support at 106.86 below which 106.85 and 106.83 could be tested.
On the other side the immediate resistance 106.90. A break beyond the last, doors will open for a test of 106.91 and from there to 106.93.
The bullish bias will be suggested in the upcoming sessions supported by the EMA50, and the next main target is located at 113.97, noting that breaking 106.63 level and holding below it will put the price under the negative pressure again, followed by pushing trading towards 100.70 as a first main station.
Expected trading range for today is between 106.74 support and 107.59 resistance.
Japan reported third quarter GDP jumped 0.5% quarter-on-quarter and at a 2.2% pace year-on-year, handily beating expected gains of 0.2% and 0.9% respectively. Economists expect Japan’s economy to post continued modest growth in the final quarter of 2016, backed by a pickup in consumer sentiment and increased public works projects in the government’s stimulus package.
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