USDJPY – Daily Analysis – 16th December, 2016

Date: 16th December, 2016

Currency Pair: USDJPY

After sharp bullish move USDJPY is now become flat. At present the price is hovering few pips above 117.94 i.e. daily pivot level. The upside limit is capped by 118.88 which is the 1st resistance for today. Above the level 119.59 and 120.53 are other resistance levels.

On opposite side the 117.23 is offering the 1st support for today. Subsequently, 116.29 and 115.58 are other support levels.

Yesterday USDJPY has rose to a new high and printed a new price level. Today we can see that the pair is trying to follow yesterday’s bullish move. However the price would need to cross 118.88 price for a new bullish leg.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
USD TIC Long-Term Purchases Low 9.4B -32.3B -26.2B
USD Building Permits High 1.24M
1.26M
USD Housing Starts Medium 1.23M 1.32M

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
USDJPY 117.23 116.29 115.58 118.88 119.59 120.53
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