USD/JPY Weekly Analysis 15 March 2017

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CHARTING

The crucial points are:

1

The price of USD/JPY moved upward in the last sessions, rising higher than 114.000 level. Since, the price has attempted several times to breach the 115.048 level, but without any success until now. Moreover, the large upward spikes suggest that the breaching of this level won’t be an easy task for bulls.

Charting outcome: Neutral – Marginally bullish

INDICATORS (Computerized T.A)

The crucial points are:

2

3

The indicators are not providing a message about which direction the trend could possibly take. The moving averages slopes has become marginally positive, while the spread between the positive and the negative dynamic has widened. The trend dynamic has risen by +39.88%, whilst the market’s volatility has fallen by -11.55%. Finally, the oscillators have remained in marginally overbought areas.

Indicators outcome: Neutral – Marginally bullish

CONCLUSION

Indicators and charting are agreeing that the trend may follow a neutral or marginally bullish outlook. If the price reaches higher than 115.048 level, the next resistance could be the 117.039 level. On the contrary, if the price closes lower than 113.677 level of support, the next support is possible to occur at 111.790 level.

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