It’s going to take something to move USDJPY

  • Lack of liquidity due to Japan holidays a factor in slow trading
  • Volatility still very low. USDJPY 1m ATM vols at 6.39
  • Support holding around 112.00 and has done so 3 times since Dec 6th. 100 DMA 111.98
  • Further support down at 111.90 and 111.65/70. 200 DMA 111.63
  • Bounces limited to 112.35/40. 55 H1MA at 112.42
  • Old S&R point at 112.50 joined by 200 H4MA at 112.55
  • More resistance at 112.70. 100 H1MA at 112.71
  • Confluence of MA’s around 113.00 give plenty of tech resistance. 55 DMA 112.92, 55 & 100 H4MA’s at 112.95/97, 200 H1MA at 112.98
  • US ISM manuafacturing PMI for Dec 2017 (15.00 GMT) the big data point with focus on the price components. Headline exp at 58.1 vs 58.2 prior. Prices paid exp 65.0 vs 65.5 prior
  • Dec 2017 Fed minutes (19.00 GMT) could be a bit more volatile following the hike. Market focus will be on how strong the percived FOMC members appetites are for further hikes. A waning appetite will be a problem for the buck
USDJPY H4 chart

USDJPY H4 chart

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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