US Dollar Yen: technical view is mildly positive, expected further price climbs

For intraday trading session US Dollar Yen technical view is mildly positive and leaves assume further price climbs.

Tuesday 7 February US Dollar Yen closing price was at 112.38 (+0.49%). For intraday trading session the technical view is mildly positive and leaves assume further price climbs towards the 14 days moving average. However, we can’t exclude price drops and the test of the first support levels considering that Momentum indicator shows negative values.

USD JPY prices climbs

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Simple Moving Average (SMA)
US Dollar Yen quotes are below the 14 days moving average (SMA value is 113.46). The short term view is therefore bearish, however for today trading session we can’t exclude rebounds 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: 07/02/2017.

Performance: 7 trading days= -1.15% – 15 trading days= -2.03% – 30 trading days= -4.02%

Resistance levels: R1= 112.78 – R2= 113.17 – R3= 114.16
Pivot Point: 112.18
Support levels: S1= 111.79 – S2= 111.19 – S3= 110.20

Buying opportunity above 112.59 targets minor resistance at 113.12 and perhaps as far as strong resistance at 113.49, 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 112.12 targets minor support at 111.59 and perhaps as far as strong support at 111.20, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 110.58.

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