USDJPY gets a lift as Japanese traders come back to play

by | January 4th, 2018, 12:06:02 | Technical Analysis | 5 comments

USDJPY technical analysis

USDJPY slightly higher today but it’s still slow going

  • USDJPY high at 112.78 put in on buying at the Tokyo fix
  • FOMC minutes brought modest upside moves but has been traded out
  • Vols still very low. Currently 1m ATM vols 6.25
  • Old S&R level at 112.50 becoming pivotal once again, and currently support. 200 H4MA at 112.54, 100 H1MA at 112.56
  • 112.65/70 marks minor resistance against the high now
  • Tech resistance around 113.00 still in place but edges a touch lower. 55 & 100 H4MA’s, 200 H1MA & 55 DMA all at 112.93
  • Support under 112.50 comes in around yesterdays broken intraday highs at 112.35/40. 55 H1MA at 112.38
  • 55 & 200 WMA’s sit close at 112.28/33. They’re importnat on a weekly basis as we haven’t seen a weekly close below since 19th Nov, and that was fleeting. Early Sep was the last time we stayed below the 200 WMA. Something to watch for this week
  • 112.20 was support into yesterdays ISM data
  • 112.00 remains strong support and a triple bottom since Dec 6th. 100 DMA 112.00
  • US jobs data needs watching. Challenger layoffs 12.30 GMT followed by ADP 13.15 (190k exp vs 190k prior) & jobless claims 13.30 (240k exp vs 245k prior). No lock up for jobless claims
  • Main focus is on NFP tomorrow
USDJPY H4 chart

USDJPY H4 chart

 

Ryan Littlestone
Latest posts by Ryan Littlestone (see all)

5 Comments

    • H Dubsly
      H Dubsly on January 4, 2018 at 12:22 pm

      Holding short for now

      • Ryan Littlestone
        Ryan Littlestone on January 4, 2018 at 12:38 pm

        I’d like a shot at a short at 112.90 myself but this is looking like watching paint dry.

        • H Dubsly
          H Dubsly on January 4, 2018 at 12:54 pm

          I try not to let my emulsions get in the way of a good trade … hahahaha

Pin It on Pinterest