logo |

News

    Home   >     Industry    >     Main body

    USD/JPY Price Forecast – US Dollar Flat Against Japanese Yen

    Abstract:The US dollar has gone back and forth on Tuesday, as we are levitating near a relatively high level in relation to the last few weeks.

      The US dollar has gone back and forth during the course of the trading session on Tuesday as we continue to hover around the ¥104.33 level. There is a significant amount of resistance above, so even though it is very possible we get a short-term push to the upside, I believe that it is relatively limited. The 50 day EMA has been broken above, but this has happened multiple times in the past, and I believe there is a significant amount of resistance extending all the way to the 200 day EMA above, which is still very well past the ¥105 level. Because of this, I think it is more than likely going to be a scenario that sooner or later we will get a nice candle to start selling.

      USD/JPY

      All of this being said, keep in mind that we are at extreme lows, so the pair may try to recover a bit, but the downside is certainly ensconced at this point. The US dollar continues to struggle in general as we have a lot of noise in general, but there is the idea of stimulus in the United States working against the value of the greenback overall. Because of this, I think that what we are looking at here is a bit of a “ceiling in the market” at the ¥105 level, so I am comfortable shorting this market anytime it shows signs of exhaustion between here and there. I do not presently have much thought towards buying, but if we broke above that 200 day EMA, I would have to rethink the entire thesis.

    Latest News

    Singapore Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    Singapore Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.