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
|USD||TIC Long-Term Purchases||Low||9.4B||-32.3B||-26.2B|
4 Hours Chart