The USD/JPY may continue its growth


The USD/JPY may continue its growth

The euro slowly declined against the dollar and finished the trading session with some losses. We expect that the euro zone unemployment rate has not changed – 6.5% and 11.2% respectively, still in Germany the unemployed number continues to decline – the jobless claims were less than 12 thousand after 20 thousand in February as it was forecasted. The pressure on the pair was preserved and yesterday. The pair reached the support near 1.0880-1.0900 during its decline. After breaking the level of 1.0880-1.0900 the pair has fallen below 1.0750-1.0770. The nearest support is at the level of 1.0610-1.0630.

The support levels are 1.0610-1.0630, and the resistance levels are 1.0770-1.0790.

MACD is in a negative territory.

Trading recommendations

The pair’s return above 1.0770-1.0790 will allow some cross-rate stabilization. The euro area consumer inflation data can influence the pair dynamics, investors’ attention will be focused on the US labor market data that usually is published on Friday.


The USD/JPY may continue its growth

The British pound also fell against the dollar at the previous trades, but the pair sharply increased at the end of the trades. Investors’ attention will be focused on the 4th quarter GDP final assessment the that was revised up to + 3.0% y/y from 2.7% y/y, 0.6% q/q from 0.5% q/q and the current payments account balance results for the last quarter in 2014 where it can be observed the payments balance deficit reduction to 25.3 billion pounds from 27.0 billion pounds in the previous period.

Being under pressure the pair decreased yesterday, reaching the support near 1.4750-1.4770. The pair rebounded upwards at the end of the trades. The rebounds were limited by the resistance near 1.4900-1.4920. The pressure on the pair remained.

The support levels: 1.4750-1.4770 and the resistance levels: 1.4900-1.4920.

The MACD indicator is in a negative territory.

Trading recommendations

The key level for bulls is the level of 1.5000-1.5020. The level of 1.4750-1.4770 breakthrough may lead to a decrease towards the support near 1.4680-1.4700, the loss of the last level will open the way to the 46th figure.


The USD/JPY may continue its growth

The Japanese yen was under pressure from the dollar part at the previous trades and fixed solid losses at the end of the day. The economic publication showed the construction sector continued weakness – new housing remains in the negative territory, -3.1% y/y. The bulls tested the resistance near the 120th figure. They failed to breakthrough above 120.20-120.40, but the dollar continues to be sold off on recessions.

The support levels: 119.05-119.25, and the resistance levels: 120.20-120.40.

The MACD indicator is in a positive territory.

Trading recommendations

The level of 119.05-119.25 loss can lead to the dollar decline resumption. Having consolidated above the 120th figure, the dollar can test the resistance near 121.30-121.50.
Check the website for more information:

Won't your trader friends like this?
About the Author
"FreshForex" company started to work on the foreign exchange market in 2004. Today, "FreshForex" is one of top forex brokers on the market of Internet forex service. Continuous improvement of trading conditions, release of popular financial instruments, a tender approach to each client - all this ensures rapid development of our Forex broker and "FreshForex" brand in the community of traders. For more information visit our website at

Related Posts

Leave a Reply