Subscribe to RSS

Analysis: USDJPY – Perfect Failure, More Losses Ahead?

  • US Dollar failed around the 100-day simple moving average against the Japanese Yen and moved down.
  • The USDJPY pair fell sharply, and it looks like sellers are in control in the short term.
  • In the US, the Initial Jobless Claims report will released by the US Department of Labor, which is forecasted to increase from 278K to 280K
  • In Japan today, the Foreign investment in Japan stocks posted a reading of ¥-85.4B.
  • Moreover, the Japanese Foreign bond investment posted a reading of ¥-364.1B.

USDJPY Technical Analysis

The USDJPY pair started higher this week, but on the daily timeframe chart it found a monster resistance in the form of 100-day simple moving average. The 200-day SMA was also positioned around the same area.

USDJPY

Buyers failed to take the pair above the 100-day simple moving average, and as a result there was a sharp downside reaction. The pair even traded below the 118.00 once, and currently correcting higher. A new weekly low was formed near the 117.00 area.

If the pair continues to correct higher, then the next level hurdle for buyers could be around the 50% Fib retracement level of the last drop from the 121.67 high to 117.03 low.

US Initial Jobless Claims

Today, the Initial Jobless Claims, which is a measure of the number of people filing first-time claims for state unemployment insurance will be released by the US Department of Labor. The market is expecting an increase from the last reading of 278K to 280K. If the outcome fails to meet the forecast and the Initial Jobless Claims increases more than expected, then the US dollar may come under a lot of bearish pressure.

Japanese Foreign investment in Japan stocks

There were a couple of minor low risk economic releases in Japan today. The Foreign investment in Japan stocks data, which referrers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency was released by Ministry of Finance. The outcome was mixed, as the Foreign investment in Japan stocks came in at ¥-85.4B.

Moving ahead, traders will be keeping a close eye on the economic releases in the US. Let us see how it shapes up and affects the US Dollar.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

FX Circuits Live Forex Trading Contest – Forex Time

FX Circuits Live Forex Trading Contest – Forex Time(0)

ForexTime latest Live Contest Win cash prizes from a $400,000 total prize pool. FX Circuits rewarding clients with real, withdrawable from a $400000 total prize pool.* Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Available to:   New Clients only Contest Offer: ForexTime

20% Unlimited Bonus on Your First Deposit – FidelisCM

20% Unlimited Bonus on Your First Deposit – FidelisCM(0)

20% Unlimited Bonus On Your First Deposit to All new traders. If you have a $30 Deposit Account with FidelisCM then add wings to your ambitions and receive a 20% Tradable Bonus Link:  20% Bonus On Your First Deposit Available to: All new traders Ending Date: 30 June 2017 Bonus Offer: Get 20% Unlimited Bonus

100% Real Money Cash-Back Bonus Promotion – UFX

100% Real Money Cash-Back Bonus Promotion – UFX(0)

100% Real Money Forex CashBack Promotion to all new and existing clients. Join and gain exclusive access to the ONLY online trading 100% Forex Cashback rewards bonus program Link:  $5000 BitCoin Rewards Bonus Promo Link:  $50 Forex No Deposit Special Bonus Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack Promotion Bonus

Get 25 EUR Welcome Free Forex Promotion – Tradeiam

Get 25 EUR Welcome Free Forex Promotion – Tradeiam(0)

Get 25 EUR Welcome Free Forex Promotion first 100 persons who become a client of the Tradeiam Company in any country. The Free Bonus amount of €25 will be deposited by the Company in the Clients Trading Account Link:  25 EUR Free Welcome Promotion Available to: All new traders Ending Date: 31 December 2018 Bonus

100% Bonus on your $100 Minimum Deposit – AvaTrade

100% Bonus on your $100 Minimum Deposit – AvaTrade(0)

100% Forex Special Bonus Offer to your first deposit Up to $300. Start trading today and in honour of our Irish roots we’ll give you a St. Patricks Day special bonus of up to 100% Link:  100% Special Bonus to Your First Deposit Available to: All new account Ending Date: 31 December 2017 Bonus offer:

100% Binary Cash Match up to $1000 – Markets World

100% Binary Cash Match up to $1000 – Markets World(0)

100% Binary Options Cash Match up to $1000. We’ll match your first deposit with up to $1000 To claim this match , simply enter voucher code 100CM in the deposit section. Link:  $10 Binary Options No Deposit Bonus Link:  100% Binary Options Deposit Bonus Bonus Ending Date: 31 December 2018 100% Binary Options Cash Match

Free Forex Trading Signals via SMS and Email – Trade12

Free Forex Trading Signals via SMS and Email – Trade12(0)

Receive Forex Trading Signals for Free via Phone SMS and Email to all Trade12 new traders and 100% Forex Welcome Deposit Bonus to your Live Trading Account. Link:  Free Daily Forex Trading Signals Link:  Get 100% Welcome Deposit Bonus Link:  50% Exclusive Deposit Bonus Available to: All new clients Ending Date: 31 December 2016 Bonus

$100 Free Bonus and $30 No Deposit Bonus – AYREX

$100 Free Bonus and $30 No Deposit Bonus – AYREX(0)

$100 Free Win in just one hour No deposit required bonus Binary Blast the Contest is a competition open to all AYREX account holders via demo accounts created automatically upon registration and used solely for contest participation Link:  $100 Free Win in Just One Hour Link:  $30 Binary Options No Deposit Bonus Link:  30% Binary

Welcome Bonus Account Risk-Free with $30 – Tickmill

Welcome Bonus Account Risk-Free with $30 – Tickmill(0)

Free Welcome Bonus Account Risk-Free with $30. Experience one of the best forex trading environments in the industry risk-free with $30 Welcome Bonus Account. Link:  Weekly Demo Race Trading Contest Link:  $30 Forex Free Welcome Bonus Link:  Forex Monthly Live Trading Contest Available to: All new traders Ending Date: 31 December 2018 Bonus Offer: Free

Earn $30 Forex Trade-able Credit Bonus – Forex Time

Earn $30 Forex Trade-able Credit Bonus – Forex Time(0)

Switch to ForexTime and Earn $30 Forex Trade able Credit Bonus. Join the hundreds of thousands of traders around the world who have already chosen ForexTime as a broker and Earn $30 tradeable credit as a thank you for switching. Link:  Receive $30 Tradeable Credit Bonus Link:  Loyalty Cashback Promotions Link:  $4 Cashback back for

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories