manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Log in

USD/JPY is flying high

02 April 2014, EUR/USD


USD/JPY is flying high

The German labor market report in March was published. The last positive report on retail sales indicates on the increased consumer confidence, which could make a pleasant surprise for the employment. In the lights of this we can expect a short-term growth in the euro/dollar.

Another euro/dollar test of the support level 1.3720 finished up with the growth to 1.3808. After unsuccessful attempts to break above the pair went down to the support 1.3763. The support ability to withstand the onslaught of the “bears” is a positive factor for the “bulls”, saving the growth to the 39th figure risk.

The support levels: 1.3700 - 1.3682, and the resistance levels: 1.3810 – 1.3830.

The daily chart has some mixed signs: MACD indicator demonstrates a decline.

Trading Recommendations

Overall, the picture remains unchanged; the pair is in a consolidation phase after the growth. To weaken the “bull” power the “bears” need to break below 1.3720-1.3700.


USD/JPY is flying high

The portfolio of industrial orders, according to CBI, increased in March, which allows to count on the output data which is slightly better, than the median of forecasts predicted. In the lights of this we can expect the moderate quotations growth of the British currency in the first part of the day.

The GBP/USD is still selling on dips, so yesterday's decline to the level of 1.6611 did not continue, but instead the pair rose up to 1.6683. The positive attitude persists, it is not the fact though, that the “bulls” will move above the 67th figure. Nevertheless, its testing in the short term should not be excluded.

The support level is 1.6600 and the resistance level 1.6660.

The daily chart has some positive signals: MACD indicator demonstrates the growth.

Trading Recommendations

The loss of the support in the 1.6596 level will weaken the “bullish” strength and lead to a fall to 1.6560 -1.6540. The growth and ability to consolidate above the 67th figure jeopardize the resistance around the 68th position.


USD/JPY is flying high

The quarterly Tankan index is expected. This report touches all aspects of an economic life, not only in Japan but also in the entire Asia - Pacific region. It is also necessary to note a direct correlation of this index with the GDP index.

The dollar/yen pair has found a support in the mark 102.79, from which it rose up to 103.43. The recessions continue to attract the buying interest that maintains the risks of the resistance 103.76 breakdown.

The support levels: 102.60 - 102.45 and the resistance levels: 103.00 - 103.20.

The daily chart has some positive signals: MACD indicator demonstrates the growth.

Trading Recommendations

The “bulls” may test the level 104.00, the passage of which will open the way to the 105th figure. A drop below 102.79 would weaken the “bullish” power and lead to the 102.00 testing.

Ruban Sergey
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .