USD JPY Technical Analysis 24th November, 2016
Technical Analysis Overview
Prev. Close 112.54
Day’s Range 112.39 – 112.89
52 wk Range 99.08 – 123.67
1-Year Return – 8.22%
Technical Support and Resistance
Daily USD JPY Technical analysis shows USD JPY pair may find the immediate support at 111.22. If, market breaks the first support then it will go for the following support to test. Following supports are 112.12 and 109.05. On the other side the market has immediate resistance 112.72. If, market breaks the primary resistance level then, market will go for the new resistance level 114.27 and 115.56.
Expected trading range for today is between 112.39 supports and 112.89 resistance.
Yesterday’s FOMC minutes turned out hawkish and bolster Dec rate hike bets, while the US durable goods data staged a solid rebound, with analyst at Nomura noting, Strong performance in October is partially attributable to a sharp 94.1% jump in nondefense aircraft orders, which tend to be highly volatile.