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USDJPY is now in meeting with its daily SMA200

Discussion in 'Current Market Sentiments' started by fx-recommends, Feb 1, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
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    USDJPY Daily 01-02-2016 06-21-56 ص.jpg
    USDJPY surpassed its daily SMA50 and daily SMA100 to reside now for trading close to its daily SMA200 near 121.20, after the volatility which has been triggered by BOJ's decision to imply negative interest rate.

    USDJPY rose to 121.40 directly following the decision, before retreating again to 119.11, whereas it managed to go with the new market discounting creeping up to 121.67 by the end of last week with improving of the risk appetite in the equities market mainly because of the oil prices extended rebound.

    USDJPY daily Parabolic SAR (step 0.02, maximum 0.2) is reading now 116.68 in its seventh day of continued being below the trading rate.

    USDJPY daily RSI is referring now to existence in the neutral region reading now 64.980, while its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in the overbought area above 80 reading 86.565 and also its signal line which is reading now 85.306.

    Important levels: Daily SMA50 @ 120.33, Daily SMA100 @ 120.61 and Daily SMA200 @ 121.48


    S1: 118.48
    S2: 117.64
    S3: 116.45
    R1: 121.67
    R2: 123.74
    R3: 124.61

    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143

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