2013.12.06 | USDJPY Market Analysis
USDJPY Trends & Fibonacci Retracement Levels
The USDJPY currency pair has been rising in forex market trading today before the release of the US nonfarm payrolls report with the USDJPY registering a high of 102.208 and reaching to a low of 101.623 on the day. Trends data shows the pair has turned over into a short-term downtrend with prices trading under the 21-period linear moving average. Over the longer term trend, the pair continues to be in an uptrend as seen on the daily chart by the 90-day Linear Regression Channels below. Prices have found near-term support at the 23.6% fibonacci retracement level at 101.58 with the 102.50 level providing an immediate resistance barrier above.
USDJPY Trends Data: Linear Regression Indicator
10-day current trend is BULLISH / Trend strength of 91.4 pips
30-day current trend is BULLISH / Trend strength of 553.4 pips
60-day current trend is BULLISH / Trend strength of 399.8 pips
90-day current trend is BULLISH / Trend strength of 326.1 pips
180-day current trend is BULLISH / Trend strength of 110.3 pips
Fibonacci Retracement Levels: Past 100 Days
— 0.000 – 103.370
— 0.236 – 101.583
— 0.382 – 100.478
— 0.500 – 99.585
— 0.618 – 98.691
— 0.764 – 97.586
— 1.000 – 95.799
By CountingPips.com – Forex Trading Apps & Currency Trade Tools
Disclaimer: Foreign Currency trading and trading on margin carries a high level of risk and volatility and can result in loss of part or all of your investment. All information and opinions contained do not constitute investment advice and accuracy of prices, charts, calculations cannot be guaranteed.
