USD JPY Technical Analysis August 13 2018
The EUR declined 0.17% against the USD on Friday and closed at 110.87.The conservative buying zone is near the bottom border of the Bollinger Band at 110.10. A reversal of the continued growth of the USD / JPY pair would be a collapse of the lower band of the Bollinger Bands, in addition to a moving average with 55 and a close below 108.20, indicating a change in the USD / JPY bearishness. If the upper border of the Bollinger Bands is broken, one should expect growth to accelerate. An upward breach above this area could lead prices to the neutral zone as soon as the trend becomes clear.
According to the current scenario, although the yen has been leading it with certain gains recently, the bearish momentum is expected to fade if the dollar performs better than expected in upcoming economic reports to be announced this week which are likely to take place.
The price is currently trading at 110.50 and at the edge of support for the Kumo Cloud, while the daily close above 110.50 is expected to push the price towards the resistance area of 112.00 in the coming days. With price remaining above 110.00, bullish bias is expected to continue. Both RSI and Stochastic are indicating signs of recovery.
The expected trend for today is Bulliish.
Supports Levels:
Support 1: 110.53
Support 2: 110.18
Support 3: 109.87
Resistance Levels:
Resistance 1: 111.20
Resistance 2: 111.50
Resistance 3: 111.85
Previous day`s high : 111.15
Previous day`s low : 110.50
EUR/USD Technical Analysis August 13, 2018
GBP/USD Technical Analysis August 13, 2018