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Market View

Trump Effects on Dollar Yen (USDJPY)

Friday, January 13, 2017 4:00 AM GMT

The Dollar-Yen pair is under selling pressure for four consecutive days as Trump avoided to give details on his growth policies and preferred to comment non-financial issues. Today there are important news where can give bullish move in case US retail sales beat estimates.

Check below the important news:



Looking over the technical view in daily timeframe, prices found support on the zone 114.4 – 113.7. Confluence is visible with 50EMA and the channel’s trend line (white). However we already have a bearish crossover on 5EMA with 20EMA giving the bearish momentum. Next major support is on 112.8 – 112 where buyers potentially may step in. Potential bearish rejection on 116.2-115.7 zone may give selling opportunities.

DAILY

(EMA = Exponential Moving Average, SMA= Simple Moving Average
5EMA=Purple, 20EMA=Gold, 50EMA=Green, 200SMA= Blue)

Heading into the hourly timeframe, there is an immediate up-move correction (to the main downtrend) and we can see clearly the resistance zone on 116.2 – 115.7 as well as the confluence with channel’s trendline and 200SMA. As long as price remains above 114.5 – 114.3, potentially price may reach the upper resistance (mentioned earlier).

HOURLY

(EMA = Exponential Moving Average, SMA= Simple Moving Average
5EMA=Purple, 20EMA=Gold, 50EMA=Green, 200SMA= Blue)


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