US Dollar Yen technical overview is positive with price above the 14 days SMA. Expected climbs towards the first resistance levels.
US Dollar Yen close slightly lower. Yesterday trading session ended at 112.38 (-0.27%). Technical overview is positive, confirmed by the major oscillators. Expected new climbs towards the first resistance levels.
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Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 108.32). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 19/05/2016.
Performance: 7 trading days= +1.38% – 15 trading days= +3.32% – 30 trading days= +1.72%
Resistance levels: R1= 110.31 – R2= 110.69 – R3= 111.38
Pivot Point: 110.00
Support levels: S1= 109.62 – S2= 109.31 – S3= 108.62
Buying opportunity above 110.13 targets minor resistance at 110.65 and perhaps as far as strong resistance at 111.01, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 111.58.
Selling opportunity below 109.67 targets minor support at 109.15 and perhaps as far as strong support at 108.77, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 108.16.