empty
 
 
Chystáte sa opustiť
www.instaforex.eu >
webovú stránku, ktorú prevádzkuje
INSTANT TRADING EU LTD
Otvoriť účet

05.11.202412:52 Forex Analysis & Reviews: USD/JPY. Analysis and Forecast

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Exchange Rates 05.11.2024 analysis

Today, the Japanese yen weakened slightly, but the decline remains limited. Japan's political landscape may hinder further interest rate hikes by the Bank of Japan. However, Bank of Japan Governor Kazuo Ueda's comments during last week's press conference did not rule out the possibility of a rate hike at the BOJ's December Monetary Policy Meeting. In addition, market nervousness ahead of the tense U.S. presidential election and geopolitical risks are providing some support to the yen as a safe-haven currency.

Moreover, the narrowing yield differential between the U.S. and Japan helps limit the yen's losses, while the subdued movement of the U.S. dollar restricts the USD/JPY pair from advancing higher. Investors appear convinced that the Federal Reserve will cut interest rates by the end of this week. Furthermore, the conclusion of the election is contributing to a continued decline in U.S. Treasury yields, keeping dollar bulls in a defensive position. These factors, in turn, suggest caution when positioning for any significant upward intraday movement.

From a technical perspective, the psychological level of 152.00 serves as immediate support, just before yesterday's swing low near 151.53, which coincides with the 200-day Simple Moving Average (SMA). Any subsequent selling could pull USD/JPY below the 151.00 level, potentially testing the 100-day SMA, currently located near the 150.30 level, passing the convergence of the 100- and 200-day SMAs. Beyond this, the psychological level of 150.00 could set the stage for deeper losses if decisively broken.

On the other hand, momentum above yesterday's high and the overnight swing in the 152.60 level could extend to the psychological level of 153.00. A further upward movement could push USD/JPY toward the 61.8% Fibonacci level, approaching last week's three-month high. Sustained strength beyond this level would be seen as a new trigger for bulls. With oscillators on the daily chart remaining in positive territory, spot prices may rise to the next significant resistance in the 154.60-154.70 range before targeting the psychological 155.00 level.

Irina Yanina
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




Teraz opúšťate stránku www.instaforex.eu, ktorá patrí spoločnosti INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off