Many leading oscillators confirm bearish trend even if before new drops rebounds towards resistance levels are possible.
US Dollar Yen close slightly lower. Trading session of the 30/03/2016 ends at 112.38 (-0.27%). Technical overview is bearish but today trading session forecast is for price movements between support and resistance levels. Many leading oscillators confirm bearish trend even if before new drops rebounds towards resistance levels are possible. We suggest to monitore today closing.
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Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 112.69). The short term view is therefore bearish, however for today trading session we can’t exclude retracements towards the most significant resistance levels.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 30/03/2016.
Performance: 7 trading days= +0.12% – 15 trading days= -0.42% – 30 trading days= -0.77%
Resistance levels: R1= 112.71 – R2= 113.05 – R3= 113.73
Pivot Point: 112.37
Support levels: S1= 112.03 – S2= 111.69 – S3= 111.01
Buying opportunity above 112.71 targets minor resistance at 113.12 and perhaps as far as strong resistance at 113.54, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 114.08.
Selling opportunity below 112.34 targets minor support at 112.09 and perhaps as far as strong support at 111.66, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 111.08.