USD/JPY: the US dollar is consolidating near 115.00
Current trend
The US dollar shows near-zero dynamics paired with the Japanese yen in trading in Asia, holding in the area of local highs from November 26 and strong psychological resistance around 115.00. Investor activity remains subdued due to the Christmas holidays; however, the day before Japan released strong macroeconomic statistics that deserve the attention of traders.
The volume of industrial production in the country in November showed an unexpectedly strong growth of 7.2% against the background of 1.8% in November, while the preliminary forecasts of analysts assumed an increase of 4.8%. On an annualized basis, sales grew by 5.4% after a decrease of 4.1% a month earlier, although experts expected the negative dynamics to remain at the level of -5%. It should be noted that the Unemployment Rate in the country in November increased from 2.7% to 2.8%, which was a negative signal for the market.
Support and resistance
Bollinger Bands in D1 chart show stable growth. The price range expands from above, indicating that "bullish" potential may persist in the short term.
MACD is also growing, maintaining a relatively strong buy signal (the histogram is above the signal line). Stochastic, having reached the level of "100", reversed into the horizontal plane, indicating strongly overbought USD in the ultra-short term.
Resistance levels: 115.00, 115.50, 116.00, 116.50.
Support levels: 114.50, 114.00, 113.50, 113.00.
The US dollar shows near-zero dynamics paired with the Japanese yen in trading in Asia, holding in the area of local highs from November 26 and strong psychological resistance around 115.00. Investor activity remains subdued due to the Christmas holidays; however, the day before Japan released strong macroeconomic statistics that deserve the attention of traders.
The volume of industrial production in the country in November showed an unexpectedly strong growth of 7.2% against the background of 1.8% in November, while the preliminary forecasts of analysts assumed an increase of 4.8%. On an annualized basis, sales grew by 5.4% after a decrease of 4.1% a month earlier, although experts expected the negative dynamics to remain at the level of -5%. It should be noted that the Unemployment Rate in the country in November increased from 2.7% to 2.8%, which was a negative signal for the market.
Support and resistance
Bollinger Bands in D1 chart show stable growth. The price range expands from above, indicating that "bullish" potential may persist in the short term.
MACD is also growing, maintaining a relatively strong buy signal (the histogram is above the signal line). Stochastic, having reached the level of "100", reversed into the horizontal plane, indicating strongly overbought USD in the ultra-short term.
Resistance levels: 115.00, 115.50, 116.00, 116.50.
Support levels: 114.50, 114.00, 113.50, 113.00.
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