Date: 13th December, 2016
Currency Pair: USDJPY
Lately USDJPY has able to show some bull strength. At present the price is hovering around daily pivot level i.e. 115.32. Once it crosses the level the price would able to approach 115.80 which is the 1st resistance for today. Above 115.80 we can find other resistance levels at 116.58 and 117.06.
The immediate support is at 114.54. Below the level 114.06 and 113.28 are other support levels.
Yesterday the pair has lost its bull power now trying to regain its bullish momentum. The pair is standing in an overbought territory. As far as the price stands above 114.54 we can expect further upside movement. A clear upside movement will be confirmed once it crosses 115.80 which is the 1st resistance for today.
Today’s Economic Events
|USD||Federal Budget Balance||Low||-136.7B||-99.5B||-44.2B|
|USD||NFIB Small Business Index||Low||96.7||94.9|
|USD||Import Prices m/m||Medium||-0.3%||0.5%|
|USD||30-y Bond Auction||Low||2.90|2.1|
4 Hours Chart