Welcome Guest:
Sign Up
Derived real-time data in partnership with:
Thomson Reuters
Mar 14 - 05:00 PM
USD/JPY: Consolidating Above 111.02; S/T Picture Indecisive - ING
First appeared on eFXplus on Mar 14 - 11:00 AM

ING discusses USD/JPY technical outlook and flags an indecisive picture in the near-term.

"The daily chart shows a consolidation above the EMA-200 line at 111.02, still not ruling out further gains within the longer-term uptrend, although limited. Next overhead resistance comes in between the March highs around 112.10 and the long-term falling trend line around 112.50," ING notes. 

"The momentum chart is deteriorating making the short-term outlook indecisive. A close below the EMA-200 line would suggest a short-term sell-off towards the underlying trend line and bottoming MA-50 line, both around 110.05. From here a new rally within the longer-term rising trend remains possible," ING adds. 

Source:
ING Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
!