USD/JPY Weekly Analysis 04 April 2017

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CHARTING

The crucial points are:

1

The USD/JPY has been trading with volatility over the past week. It appears that speculation on the outcome of the meeting between President Trump of the US and President Xi Jinping of China is causing this volatility. The outcome of the meeting will affect the predominately the US and China, but will also reach the majority of Asian countries. In the chart, the price has met heavy resistance at 11.850 level, which was unsuccessfully tested several times, only to finally bounced off this resistance and moved to lower levels. Today, the price is testing to break lower than the 110.324 level of support, but without any success, until now.

Charting outcome: Marginally bearish – Neutral

INDICATORS (Computerized T.A)

The crucial points are:

2

3

The indicators are signaling that a weak downtrend has occurred. The moving averages slopes have remained the same, while both the positive and the negative dynamic have risen. The trend dynamic has marginally fallen by -7.30%, as well as the market’s volatility marginally falling by -3.48%. Finally, the oscillators have passed into oversold levels.

Indicators outcome: Marginally bearish – Bearish  

CONCLUSION

Indicators and charting are in favor of the negative outlook. However, charting suggests the neutral outlook as well. Should the price break lower than 110.324 level of support, the next support is possible to occur at 109.053 level. On the contrary, if the price reaches higher than 111.850 level, the next resistance could be the 113.273 level.

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