Daily Outlook

December 30, 2016

Sharp spike on EUR/USD as stop above 1.0500 in low liquidity saw the single currency spike to 1.0650.

 

USD/JPY held Y116 however and has led a USD rebound since.

 

GBP/USD held 1.2300 test as EUR/GBP buying capped cable.

Time will tell if the USD pullback is over or we still have more selling to go in the New Year

 

USD/JPY 12/30/2016 6:11 AM 
Trend daily chart (=)  Trend weekly chart (=)
USD/JPY Intraday: the upside prevails.
Pivot: 116.35

Our preference: long positions above 116.35 with targets at 116.95 & 117.25 in extension.

Alternative scenario: below 116.35 look for further downside with 116.10 & 115.70 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
117.50 **
117.25 ***
116.95 ***
116.69 Last
116.35 ***
116.10 **
115.70 **

Ticker : JPY  Add to my portfolio
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